Mexico 3D Printing Medical Devices Market Analysis

Mexico 3D Printing Medical Devices Market Analysis


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Mexico 3D Printing Medical Device Market is expected to witness growth from $45 Mn in 2022 to $152 Mn in 2030 with a CAGR of 16.55% for the forecasted year 2022-2030. In Mexico, the rise in chronic diseases, Mexico's ageing population, the growing use of 3D printing technology, and rising healthcare expenditure are all factors that are driving up the demand for 3D Printing medical devices in Mexico. The market is segmented by application, by technology and by end user. Some key players in this market include: GE Healthcare, Stryker, Medtronic, Philips Healthcare and Boston Scientific.

ID: IN10MXMD002 CATEGORY: Medical Devices GEOGRAPHY: Mexico AUTHOR: Jigyasu Bhandari

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Mexico 3D Printing Medical Devices Market Executive Summary

The Mexico 3D Printing Medical Devices Market size is at around $45 Mn in 2022 and is projected to reach $152 Mn in 2030, exhibiting a CAGR of 16.55% during the forecast period. As a percentage of GDP, health spending in Mexico increased significantly from 5.4% in 2019 to 6.2% in 2020, compared to an average rise of 0.9% across the Organization for Economic Cooperation and Development region. In 2020, Mexico's gross domestic product (GDP) was 6.2% devoted to healthcare. The average person in Mexico still has to pay out-of-pocket costs, despite the fact that the percentage has decreased from 55% to 45%.

Mexico's healthcare industry is increasingly utilising 3D printing technology. In Mexico, Custom-fit prostheses can be created using 3D printing technology, making them more comfortable and useful for patients. Comparing 3D printing to conventional manufacturing techniques, production time and expenses can also be decreased. Implants made using 3D printing can be tailored to a patient's anatomy, increasing their efficacy and lowering the chance of problems. This is especially helpful for difficult procedures like cranial repair. Surgical tools made using 3D printing can be more accurate and effective than conventional instruments. Additionally, it may make it possible to create intricate geometries that are challenging to manufacture using conventional production techniques. For planning and practising surgeries, 3D printing can produce precise medical models. This can increase the surgical operations' accuracy and safety.

Mexico 3D Printing Medical Device Market Analysis

Market Dynamics

Market Growth Drivers Analysis

In Mexico, the rise in chronic diseases, Mexico's ageing population, the growing use of 3D printing technology, and rising healthcare expenditure are all factors that are driving up the demand for 3D Printing medical devices in Mexico. It is now feasible to produce precise, high-quality medical devices that meet or exceed industry standards thanks to recent developments in 3D printing technology. More individualised healthcare choices are being demanded by patients, and 3D printing technology now makes it possible to produce medical devices that are uniquely tailored to meet the needs of each patient. The Mexican government has proven its support for the expansion of the 3D printing industry, including the production of medical devices, through initiatives like the National 3D Printing Strategic Plan.

Market Restraints

In Mexico, the rise in chronic diseases, Mexico's ageing population, the growing use of 3D printing technology, and rising healthcare expenditure are all factors that are driving up the demand for 3D Printing medical devices in Mexico. It is now feasible to produce precise, high-quality medical devices that meet or exceed industry standards thanks to recent developments in 3D printing technology. More individualised healthcare choices are being demanded by patients, and 3D printing technology now makes it possible to produce medical devices that are uniquely tailored to meet the needs of each patient. The Mexican government has proven its support for the expansion of the 3D printing industry, including the production of medical devices, through initiatives like the National 3D Printing Strategic Plan.

Competitive Landscape

Key Players

Competitive Landscape

Key Players

  • Philips Healthcare
  • Medtronic
  • Boston Scientific
  • GE Healthcare
  • Stryker
  • Siemens Healthineers

Notable Recent Deals

2020: A new 3D printing lab specialising in the manufacturing of medical devices has been established thanks to a collaboration between 3D printing industry pioneer Stratasys and Mexico's Tecnológico de Monterrey. The facility creates a variety of medical devices, including prosthetics and surgical guides, using Stratasys' 3D printing technology.

Healthcare Policies and Regulatory Landscape

The Federal Commission for Protection against Sanitary Risks is in charge of managing medical equipment regulations in Mexico. Medical instruments made using 3D printing technology are subject to regulation and approval by COFEPRIS. The COFEPRIS regulations must be followed by makers in order to get their 3D printed medical devices approved in Mexico. These requirements include putting the device through a rigorous testing and approval procedure to show its quality, safety, and efficacy. The healthcare policies in Mexico, in addition to regulatory standards, have an impact on the market for 3D printed medical devices. The government mainly finances Mexico's healthcare system, which places a strong emphasis on giving all citizens access to affordable care. Due to their emphasis on accessibility and affordability, 3D printed medical devices may be a desirable choice for healthcare providers seeking to cut expenses and enhance patient outcomes. 

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

3D Printing Medical Devices Market Segmentation

By Component (Revenue, USD Billion):

The 3D Printing Medical Devices market is divided into equipment, materials, and software & services depending on the component. In 2020, the market for 3D printed medical devices was dominated by software and services. During the forecast period, the cost-effectiveness, utility, uniformity, and accuracy provided by services for medical device 3D printing are anticipated to drive the segment's expansion.

  • Equipment
    • 3D Printers
    • 3D Bioprinters
  • Materials
  • Plastics
    • Thermoplastics
    • Photopolymers
  • Metals and Metal Alloys
  • Biomaterials
  • Ceramics
  • Paper
  • Wax
  • Other Materials
  • Services & Software

By Application (Revenue, USD Billion):

The market for 3D-printed medical devices is divided into wearable/implantable medical devices, other medical devices, standard prosthetics and implants, custom prosthetics and implants, tissue-engineered goods, surgical guides, and surgical tools based on the application. In 2020, the custom prosthetics and implants market sector held a greater market share. Biological materials (such skin and bones), plastics, ceramics, and metals are just a few of the materials that may be used to create highly customizable prosthetics and implants using 3D printing. The development of this market sector is anticipated to be fueled by 3D printing of custom implants, which is drawing in new investors and medical device businesses.

  • Surgical Guides
    • Dental Guides
    • Craniomaxillofacial Guides
    • Orthopedic Guides
    • Spinal Guides
  • Surgical Instruments
  • Surgical Fasteners
  • Scalpels
  • Retractors
  • Standard Prosthetics & Implants
  • Orthopedic Implants
  • Dental Prosthetics & Implants
  • Craniomaxillofacial Implants
  • Bone & Cartilage Scaffolds
  • Ligament & Tendon Scaffolds
  • Custom Prosthetics & Implants
  • Tissue-engineered Products
  • Hearing Aids
  • Wearable Medical Devices
  • Other Applications

By Technology (Revenue, USD Billion):

The market for 3D printing medical devices has been divided into various technological categories, including electron beam melting (EBM), laser beam melting (LBM), photopolymerization, droplet deposition or extrusion-based technologies, three-dimensional printing (3DP) or adhesion bonding, and others. The segment of these that accounted for the biggest market share in 2020 was laser beam melting (LBM). The significant market share of this sector is linked to the technology's expanding use in the dentistry sector and in the production of implants for minimally invasive surgery.

  • Laser Beam Melting
    • Direct Metal Laser Sintering
    • Selective Laser Sintering
    • Selective Laser Melting
    • LaserCUSING
  • Photopolymerization
  • Digital Light Processing
  • Stereolithography
  • Two-photon Polymerization
  • PolyJet 3D Printing
  • Fused Deposition Modeling
  • Multiphase Jet Solidification
  • Low-temperature Deposition Manufacturing
  • Microextrusion Bioprinting
  • Droplet Deposition/Extrusion-based Technologies
  • Electron Beam Melting
  • Three-dimensional Printing/Adhesion Bonding/Binder Jetting
  • Other Technologies

By End User (Revenue, USD Billion):

Hospitals and surgical centers, dentistry and orthopaedic clinics, academic institutions & research laboratories, pharma-biotech & medical device firms, and clinical research organizations make up the different end-user segments of the 3D printing medical devices market. The sector of hospitals and surgical centers held the biggest market share in 2020. The significant market share of this sector can be due to the increased uptake of cutting-edge medical technology by hospitals, the expansion of existing 3D printing facilities, and the rising affordability of 3D printing services.

  • Hospitals & Surgical Centers
  • Dental & Orthopedic Clinics
  • Academic Institutions & Research Laboratories
  • Pharma-Biotech & Medical Device Companies
  • Clinical Research Organizations

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 27 March 2023
Updated by: Vidhi Upadhyay

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