Mexico: Medical Instruments Market 2024

Medical Instruments Market Size in Mexico

The Mexican medical instruments market expanded remarkably to $X in 2022, increasing by 5.6% against the previous year. Over the period under review, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +121.0% against 2017 indices. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in the immediate term.

Medical Instruments Production in Mexico

In value terms, medical instruments production fell modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 47%. Over the period under review, production attained the maximum level at $X in 2021, and then shrank in the following year.

Medical Instruments Exports

Exports from Mexico

In 2022, approx. X tons of instruments used in medical sciences were exported from Mexico; leveling off at the year before. Overall, total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -7.7% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 24% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, medical instruments exports expanded significantly to $X in 2022. In general, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +9.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +146.6% against 2012 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 21%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for medical instruments exports from Mexico, with a approx. 99% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +6.5%.

In value terms, the United States ($X) also remains the key foreign market for instruments used in medical sciences exports from Mexico.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +9.5%.

Export Prices by Country

The average medical instruments export price stood at $X per ton in 2022, growing by 14% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +2.8% per year.

Medical Instruments Imports

Imports into Mexico

After two years of decline, purchases abroad of instruments used in medical sciences increased by 0.9% to X tons in 2022. Over the period under review, imports, however, showed a abrupt setback. The pace of growth appeared the most rapid in 2019 with an increase of 3.1% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, medical instruments imports amounted to $X in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +104.0% against 2012 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of medical instruments to Mexico, accounting for a 55% share of total imports. Moreover, medical instruments imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. The third position in this ranking was held by Pakistan (X tons), with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to -14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.4% per year) and Pakistan (+1.2% per year).

In value terms, the United States ($X) constituted the largest supplier of instruments used in medical sciences to Mexico, comprising 74% of total imports. The second position in the ranking was taken by China ($X), with a 6.6% share of total imports. It was followed by Germany, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.8% per year) and Germany (+3.1% per year).

Import Prices by Country

In 2022, the average medical instruments import price amounted to $X per ton, with an increase of 14% against the previous year. In general, the import price showed a buoyant increase. The growth pace was the most rapid in 2014 when the average import price increased by 128% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+24.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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