Mexico Medical Device Market Size and Forecast by Device Type, Patient Demographics, Distribution Channel, and End User: 2019-2033

Mexico Medical Device Market Outlook

The Mexico medical device market has been evolving steadily, showcasing a compounded annual growth rate (CAGR) of around XX.3% between 2025 and 2033, supported by both domestic demand and export-led growth. As per DataCube Research, the market was valued at approximately US$ XX.5 billion in 2024 and is forecast to reach US$ XX.8 billion by 2033, benefiting from expanding healthcare infrastructure, shifting demographics, and rising chronic disease prevalence. The Mexico medical device sector encompasses a wide range of products, including diagnostic imaging, surgical equipment, and wearable health technologies, with increasing integration of AI and IoT in modern medical tools. Mexico has become the largest medical device exporter in Latin America and ranks among the top 10 global exporters, highlighting its dual role as a consumption and production hub. The proximity to the U.S. has further helped shape a mature Mexico medical device ecosystem, attracting investments, fostering manufacturing clusters, and facilitating regulatory harmonization.

Innovation, Aging, and Government Support: Key Market Catalysts

A confluence of demographic, technological, and policy-driven factors is fueling the growth of the Mexico medical device market. One of the primary drivers is the rising aging population, with over 13% of the population aged 65 and above as of 2024, according to the OECD. This demographic is more prone to chronic illnesses, creating sustained demand for diagnostic and therapeutic devices. Additionally, Mexico’s healthcare spending per capita is expected to increase steadily from US$ 1,100 in 2023 to over US$ 1,600 by 2030, which amplifies public and private sector investment in advanced medical equipment. Notably, government initiatives like the CONACYT-backed National Strategy for Health Research and Innovation have enhanced the local R&D capabilities, promoting the development of indigenous solutions. Regulatory bodies such as COFEPRIS (Federal Commission for the Protection against Sanitary Risk) have accelerated approval timelines and introduced digital traceability norms in 2023, streamlining device registrations and boosting market confidence. The alignment with international regulatory frameworks, especially with U.S. FDA guidelines, has also made Mexican manufacturing more globally competitive.

Economic Pillars: Trade, Talent, and Technological Clusters

Mexico’s role as an export powerhouse in the medical device industry is pivotal to its market expansion. In 2023, medical device exports crossed US$ 12 billion, primarily to the United States, Germany, and Japan. The country’s favorable trade agreements, particularly USMCA, have reduced import/export tariffs, increasing cross-border device movement and promoting nearshoring. Mexico also benefits from a growing pool of skilled biomedical engineers, with over 5,000 graduates annually from top institutions like UNAM and IPN. Furthermore, emerging MedTech clusters in Baja California, Jalisco, and Nuevo León are backed by state incentives and infrastructural support, hosting both local startups and international giants. The establishment of Medical Device Innovation Parks in Tijuana and Guadalajara in 2022 has streamlined the value chain by improving access to precision tooling, sterile environments, and validation labs. However, while local raw material availability for components like polymers and metals is improving, a degree of reliance on imported precision parts still persists, slightly impacting supply chain autonomy.

MedTech Adoption and End User Behavior in Mexico

The demand-side transformation of the Mexico medical device sector is being shaped by the digital transformation of healthcare services and changing cultural perceptions. Medtech adoption in Mexico is gaining traction across private hospitals, public institutions, and outpatient care centers. Leading hospitals such as Hospital Ángeles, ABC Medical Center, and IMSS (Instituto Mexicano del Seguro Social) have started integrating remote monitoring tools and AI-assisted diagnostic systems. Additionally, end user behavior in Mexico is shifting toward proactive and preventative care, with wearable health tech and point-of-care diagnostics seeing high growth, especially in urban areas. Distribution networks have evolved, with local distributors forming alliances with OEMs for last-mile delivery and post-installation services. Digital B2B procurement platforms launched in 2023, such as MedBuyMX, are further reshaping procurement models, increasing transparency and efficiency. Notably, cultural attitudes toward medical devices are becoming more trust-oriented, with increasing awareness about device safety and clinical efficacy, especially post-COVID-19.

Brands, Strategies & Recent Market Moves

Several international and domestic brands are competing in the Mexico medical device market, each leveraging specific strategies to capture share. Global players such as Medtronic, Siemens Healthineers, and Philips Healthcare have expanded their footprint through partnerships and technology transfers with local firms. For instance, in August 2023, Siemens announced the expansion of its diagnostic imaging R&D unit in Mexico City, aiming to localize production and reduce export dependency. Among domestic brands, Grupo Pisa and Bioevolution are expanding into high-growth segments such as portable diagnostics and telehealth devices. A notable strategic development occurred in January 2024, when Bioevolution launched a low-cost insulin delivery device targeting public hospitals, supported by a grant from CONACYT. Additionally, several players are investing in AI and IoT integrations to improve device interconnectivity, enabling hospitals to move toward data-driven clinical decision-making. Market strategies now focus on affordability, modularity, and service delivery models, with many companies offering equipment-as-a-service (EaaS) models for rural hospitals to offset CAPEX challenges.

Author: Mahesh Y (Asst. Manager – Healthcare and Medical Device)

*Research Methodology: This report is based on DataCube’s proprietary 3-stage forecasting model, combining primary research, secondary data triangulation, and expert validation. [Learn more]

Mexico Medical Device Market Segmentation