Market Trends of Mexico Diagnostic Imaging Equipment Industry
This section covers the major market trends shaping the Mexico Diagnostic Imaging Equipment Market according to our research experts:
Oncology segment is Expected Have Significant Growth during the Forecast Period
Doctors often use imaging procedures for the diagnosis of cancer. It can find or detect tumors and other abnormalities, determine the extent of disease and evaluate the effectiveness of treatment. Specialists may also use imaging when doing biopsies and other surgical procedures. As cancer is one of Mexico's leading causes of death, the oncology segment is expected to have significant growth during the forecast period.
For instance, according to a study published by PubMed Central in April 2021, breast tumors are the main cause of cancer in women and epidemiological projections estimate the number of new cases and the mortality rates will increase in the next years in Mexico. The article also stated that Mexico is experiencing a demographic, epidemiological, and nutritional transition, which is favoring the exposure to risk factors for cancer, such as aging, smoking, alcohol consumption, and high prevalence of obesity and diabetes.
Thus, due to the high burden of cancer, the studied segment is expected to witness significant growth over the forecast period.
Cardiology segment is Expected Have a Significant Share in the Market Over the Forecast Period
The major factors driving the growth of the cardiology segment are:
- The increasing cardiovascular disease prevalence.
- The rising geriatric population of the country.
- Increasing healthcare expenditure.
Cardiovascular diseases cause a significant burden on the healthcare sector, and diagnostic imaging equipment plays a vital role in diagnosing these diseases. The country's rising prevalence of cardiovascular disease is an essential factor driving the segment's growth. For instance, according to an article published by frontiers in March 2022, in Mexico, one of the leading causes of mortality is cardiovascular disease (CVD) which has an estimated rate of 134 deaths per 100,000 people. The articles also stated that factors like high blood pressure, or hypertension (HTN), are the most critical risk factor for the development of CVD, which two out of four adults experience during their lifetime. This number could be higher, as 55% of people with this disease often remain undiagnosed and have no symptoms.
Furthermore, according to an article published by frontiers in February 2021, cardiovascular mortality and their main traditional and novel risk factors in Mexico have become a significant health problem like other middle-income countries. It causes an economic burden and is an essential source of disability in young adults.
Smoking or tobacco use is also associated with cardiovascular diseases. Thus the increasing tobacco use in the country is also expected to enhance the segment growth.
