Mexico Hospital Supplies Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 11.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Mexico Hospital Supplies Market Analysis
The Mexican hospital supplies market is expected to grow at a CAGR of 11.5% during the forecast period.
The COVID-19 pandemic significantly impacted the hospital supplies market in Mexico. The high number of patients admitted to hospitals increased the demand for patient monitoring devices, mobility aids, personal protective equipment, and other supplies required for hospital use. Due to the high number of COVID-19-infected patients, the demand for sanitizers and disinfectants increased. Thus, a huge demand for disinfectants and sterilizers was seen, which positively impacted the market studied. Moreover, developments in providing patient care during the pandemic's later phase increased in Mexico.
For instance, according to the data updated by UNESCO, in September 2021, the Carlos Slim Foundation (CSF), along with several regional foundations, academic institutions, and the government of the country, formed a productive public-private collaboration and financed the conversion of the largest convention center in Mexico into a temporary COVID-19 hospital streamlined for patient referral, admission, treatment, clinical monitoring, discharge, and household follow-up to mitigate the impact of the pandemic using a digital health platform in Mexico. Thus, the pandemic impacted the market studied considerably, and the abovementioned factors created tremendous growth opportunities.
Factors such as increased incidences of infectious and chronic diseases, growing public awareness about hospital-acquired infections, and an increase in the geriatric population and in-patient admissions in hospitals are primary contributors to the overall growth of the hospital supplies market in Mexico.
The burden of communicable (infectious) diseases is constantly growing in Mexico. The incidence and prevalence of human papillomavirus (HPV), among other diseases, is high in Mexico, increasing the demand for disease diagnosis and treatment. The HPV information center report published in October 2021 stated that the prevalence of HPV 16 and 18 among adult women with normal cytology is 4.1%; with low-grade cervical lesions, the prevalence is 15.3%; with high-grade cervical lesions, it differs to 37.7%; and with cervical cancer, the prevalence changes to 65% in Mexico. Additionally, ]according to the source above, the age-standardized incidence rate of cervical cancer cases attributable to HPV is 12.6 per 100,000 women per year. As HPV is the common cause of cervical cancer among women, the need for early diagnosis is high. Thus, it is expected to create demand for hospital supplies for diagnosis purposes, thereby driving the growth of the market.
Moreover, continuous product launches and developments coupled with strategic activities by the major players in the market are anticipated to drive the growth of the market. For instance, in September 2021, Co-Diagnostics Inc. received approval for sale in Mexico by the Mexican Department of Epidemiology ("InDRE") for the Logix Smart Influenza A/Influenza B/COVID-19 "ABC" Test. This aligns with the government's objective to provide affordable, state-of-the-art diagnostic products around the country, which is expected to boost the market. Furthermore, according to the data published by the OECD in 2022, the total number of hospitals increased to 4,995 in 2021 from 4,707 in 2019 within the country. Thus, such factors are anticipated to fuel the growth of the market during the forecast period.
Therefore, due to the abovementioned factors, the market for hospital supplies is anticipated to witness growth over the forecast period. However, stringent regulatory frameworks and the emergence of home care services are the factors that are predicted to hinder the market growth during the forecast period.
Mexico Hospital Supplies Market Trends
Sterilization and Disinfectant Equipment Segment is Expected to Witness Growth
Disinfection and sterilization play a significant role in hospital settings. There is a high expenditure on hospital supplies to maintain the cleanliness of equipment, such as the prevention of healthcare-associated infections, surgical instruments, and staff hygiene. To avoid infections in hospital settings and home care, sterilization and disinfectant products are highly demanded among end users. This is anticipated to drive the growth of the segment during the forecast period.
In hospitals, various patients with infectious and chronic diseases undergo surgeries for survival. The equipment used during surgeries, such as scalpels, scissors, endoscopes, and other surgical instruments, are re-used most of the time. Sterilization and disinfection of such devices are mandatory to avoid hospital-acquired infections. According to Michels & Gauquie data updated in 2022, decreasing pathogenic load diminishes the chances of breeding germs and avoids corrosion of expensive and unique instruments. Further, when sterilization and disinfection are correctly done, medical devices can be used safely in invasive and non-invasive procedures. Thus, with increasing inpatient visits to hospital settings in Mexico, the demand for sterilization and disinfection is increasing, which is expected to fuel the growth of the segment.
Moreover, recent developments by major companies and other public and private organizations are increasing the demand for sterilization and disinfectant supply products. For example, in December 2021, Nanosonics Ltd expanded its reach into Latin America with the addition of Juama SA de CV as its new distributor for the Trophon 2 device, accessories, consumables, and service in Mexico. Juama's medical division manufactures radiopharmaceuticals and represents internationally renowned brands in infection prevention. Thus, such advances are expected to drive the growth of the segment in the country.
Hence, all the abovementioned factors are expected to boost the growth of the segment during the forecast period.
Operating Room Equipment Segment is Predicted to be the Fastest Growing Segment
Operating room equipment includes hospital supplies such as medical carts, surgical lights, patient mechanical lift handling equipment, surgical booms, disposables and consumables, surgical case carts, stretchers, stretcher accessories, surgical devices, and other medical devices. These supplies are ideal for all hospitals, ranging from general to multi-specialties. As a result, the demand for such supplies is expected to increase within the country, boosting the growth of the market for the operating room equipment segment.
Furthermore, factors such as increasing hospital admissions, healthcare expenditures, and investments are expected to augment the growth of the segment during the forecast period.
The rise in investments in hospital infrastructure in Mexico is predicted to create numerous opportunities for the availability of various equipment in operating rooms in healthcare settings. For instance, in April 2022, the Jalisco government, Mexico, planned to invest more than USD 301.5 million in healthcare infrastructure over the next three years to build new hospitals and healthcare centers and upgrade existing ones. In addition, the Mexican Social Security Institute (IMSS) also announced plans to invest USD 677.2 million to build 111 new hospitals by 2024 in Mexico. These investments are predicted to fuel overall and segment growth in the country.
Mexico Hospital Supplies Industry Overview
The Mexico hospital supplies market is competitive, with many smaller players and a handful of larger companies. Increased innovation and investment for various public and private organizations are expected to intensify industry rivalry worldwide. They are also collaborating with other players to develop and promote their products and gain recognition in the market. Boston Scientific Corporation, Cardinal Health Inc., Medtronic PLC, B. Braun Melsugen AG, and 3M are some of the major players.
Mexico Hospital Supplies Market Leaders
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Becton, Dickinson and Company
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Abbott
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3M
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Medtronic PLC
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Baxter
*Disclaimer: Major Players sorted in no particular order
Mexico Hospital Supplies Market News
- September 2022: A Mexico-based startup, MEDU Protection, scored USD 4 million for personal protective equipment (PPE). The PPE can be reused for up to 50 washes and can limit medical waste.
- February 2022: Hoy Health, a health tech company focused on primary care in the digital health industry via remote patient monitoring, telehealth, and medication access, began offering telemedicine services via its HoyDOCO platform in Mexico.
Mexico Hospital Supplies Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Geriatric Population and In-patient Admissions in Hospitals
4.2.2 Rise in Chronic and Infectious Diseases
4.2.3 Growing Public Awareness about Hospital Acquired Infections
4.3 Market Restraints
4.3.1 Stringent Regulatory Procedures
4.3.2 Growing Popularity of Home Care Services
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - in USD million)
5.1 By Product
5.1.1 Patient Examination Devices
5.1.2 Operating Room Equipment
5.1.3 Mobility Aids and Transportation Equipment
5.1.4 Sterilization and Disinfectant Equipment
5.1.5 Disposable Hospital Supplies
5.1.6 Syringes and Needles
5.1.7 Other Products
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Medtronic PLC
6.1.2 3M
6.1.3 Baxter
6.1.4 Becton, Dickinson and Company
6.1.5 Boston Scientific Corporation
6.1.6 Cardinal Health
6.1.7 Koninklijke Philips NV
6.1.8 Abbott
6.1.9 Fisher & Paykel Healthcare Limited
6.1.10 Medline Industries LP
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Mexico Hospital Supplies Industry Segmentation
Hospital supplies include every medical utility product that serves the patient and medical professional with hospital infrastructure and enhances the network and transportation between hospitals.
The Mexican hospital supplies market is segmented by product (patient examination devices, operating room equipment, mobility aids and transportation equipment, sterilization and disinfectant equipment, disposable hospital supplies, syringes and needles, other products). The report offers the market sizes and forecasts in terms of value in USD million for the above segments.
| By Product | |
| Patient Examination Devices | |
| Operating Room Equipment | |
| Mobility Aids and Transportation Equipment | |
| Sterilization and Disinfectant Equipment | |
| Disposable Hospital Supplies | |
| Syringes and Needles | |
| Other Products |
Mexico Hospital Supplies Market Research FAQs
What is the current Mexico Hospital Supplies Market size?
The Mexico Hospital Supplies Market is projected to register a CAGR of 11.5% during the forecast period (2024-2029)
Who are the key players in Mexico Hospital Supplies Market?
Becton, Dickinson and Company, Abbott, 3M, Medtronic PLC and Baxter are the major companies operating in the Mexico Hospital Supplies Market.
What years does this Mexico Hospital Supplies Market cover?
The report covers the Mexico Hospital Supplies Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Hospital Supplies Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mexico Hospital Supplies Industry Report
Statistics for the 2024 Mexico Hospital Supplies market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Hospital Supplies analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
