Market Trends of Mexico General Surgical Devices Industry
This section covers the major market trends shaping the Mexico General Surgical Devices Market according to our research experts:
Handheld Devices Segment is Expected to Hold a Significant Share in the Market Over the Forecast Period
- The handheld devices segment of the Mexican general surgical devices market is expected to register a significant CAGR during the forecast period. The demand for handheld equipment is increasing in response to the increasing need for minimally invasive surgeries in the country. The large-scale use of advanced surgical instruments in recent years is driving the segment in Mexico.
- The development of advanced tools, such as robotic handheld surgical devices for laparoscopic interventions, enhanced the growth of the segment under study. Increasing innovations owing to the need for high reliability, accuracy, and patient safety are other significant driving factors for the growth of the segment under study.
- In addition, increasing prevalence rates of chronic diseases and various other health concerns are expected to boost the demand for handheld devices, thereby contributing to the segment's growth. According to the Global Cancer Observatory's projections, Mexico saw 195,499 brand-new cancer cases diagnosed in 2020. Additionally, statistics from the International Diabetes Federation released in 2021 revealed that 14 million persons in Mexico had diabetes in 2021. Such rising chronic disorders in Mexico lead to surgical procedures, thereby contributing to the growing demand for handheld devices boosting the segment growth.
- Similarly, a December 2020 report in the International Dental Journal stated that 34.0% of people experienced dental pain. Also, untreated caries affects over 75% of young adults in Mexico. The high rate of dental problems among Mexicans is anticipated to increase demand for handheld devices in Mexico.
- Additionally, the launch of technologically advanced products to meet the growing demand for handheld surgical devices is also expected to contribute to the market's growth. For instance, in July 2020, Smith and Nephew launched the Real Intelligence and CORI Surgical system, a next-generation handheld robotics platform. This CORI surgical is portable and small, making it perfect for outpatient surgery and ambulatory surgical facilities.
- Furthermore, the increasing chronic diseases and other health concerns, along with the launch of advanced handheld devices, are expected to contribute to the growth of the studied segment.
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Neurology is Expected to Hold Significant Share in the Market Over the Forecast Period
- Neurological diseases include acute spinal cord injury, Alzheimer's disease, sclerosis, brain tumors, aneurysm, epilepsy, seizures, and others. The increasing prevalence of such neurological disorders among the Mexican population is expected to drive the demand for general surgical devices, thereby fueling segment growth.
- According to an article published by Journal Plos One in July 2021, the prevalence of possible vascular dementia among Mexican older adults was 0.6%. Males aged 80 years or older showed a greater incidence rate of possible vascular dementia when compared to females. Another article published in March 2022 mentioned that the prevalence of dementia in the Mexican population was 7.8% met the criteria for Alzheimer's disease, 4.3% for vascular dementia, and 2.1% for mixed dementia.
- The report also mentioned that the prevalence of dementia was higher in women than in men (15% versus 12.5%, respectively). Such prevalence of various neurological disorders among the Mexican population is expected to drive the demand for advanced general surgical devices, thereby contributing to segment growth.
- Likewise, data published by GLOBOCAN in 2020 mentioned that the incidence of brain or central nervous system cancer among the Mexican population was 3,189. Such incidence of brain cancer in Mexico is also expected to drive the growth of the studied segment over the forecast period.
- Thus, owing to the growing burden of the neurological diseases, the number of surgeries are expected to increase which is expected to contribute to the growth of neurology segment of the studied market in country.
