The Medical Device Market in Mexico 2021

Introduction

Following our last Medical Device Market report for the Mexican Market in 2020, we present our report with the latest information we got from 2021.

In this article we will talk about the importation/exportation value in Mexico compared to other countries. We also add some facts about the healthcare system and the local market. This will help you to get a better picture of what it is still considered the second largest market in Latin America.

The Mexican Market

After reviewing the Mexican central bank data bases and matching them with the UN’s, we found that Mexico is still in the 9^th place in terms of medical device importations (as referred in the table below) and the 5^th place in exportations*

*Notes:

The information is obtained based on the most representative tariff codes related to medical devices (HS: 9018).

Data up to July 2022.

Summary of the key regulatory changes

Recent changes in the Mexican Medical Device regulation has taken place in 2021. Some points to consider:

• Good Manufacturing Practices local norm update.
• Electronic submissions for specific processes in COFEPRIS.
• No English Translations required and new renewal process for regulatory submissions.

Conclusions

Mexico remains in the top 10 countries in the Medical Device Industry for importations and exportations. On the other hand, even though the local regulation has changed, it is not closing the market to new players. In fact, they have open alternatives to attract manufacturers with lower prices –a trend for which Mexico is not the exception in the world.

We trust you have found this article useful. If you need more information, please send us an email to contact@veraqueconsulting.com