Mexico Biomaterials in Healthcare Market Analysis

Mexico Biomaterials in Healthcare Market Analysis


$ 3999

The Mexico Biomaterials in Healthcare Market is expected to witness growth from $2.34 Bn in 2022 to $6.43 Bn in 2030 with a CAGR of 13.45% for the forecasted year 2022-2030. Research and development spending have increased in Mexico, including in the area of biomaterials. By encouraging the creation of fresh and cutting-edge biomaterials, this is anticipated to fuel growth in the Mexico healthcare biomaterials market. The market is segmented by type and by application. Some key players in this market include: BIOMEDICA MEXICANA S.A DE C.V, Medstent, BASF SE, Johnson and Johnson, Medtronic and Evonik Industries.

ID: IN10MXMD003 CATEGORY: Medical Devices GEOGRAPHY: Mexico AUTHOR: Jigyasu Bhandari

Buy Now

Mexico Biomaterials in Healthcare Market Executive Analysis

The Mexico Biomaterials in Healthcare Market size is at around $2.34 Bn in 2022 and is projected to reach $6.43 Bn in 2030, exhibiting a CAGR of 13.45% during the forecast period. Compared to an average increase of 0.9% across the Organization for Economic Cooperation and Development region, health spending in Mexico increased considerably from 5.4% in 2019 to 6.2% in 2020. 6.2% of Mexico's GDP (gross domestic product) was allocated to healthcare in 2020. Despite the fact that the percentage has dropped from 55% to 45%, the typical Mexican still has to pay out-of-pocket expenses.

In the creation of biodegradable plastics, Mexico is a global leader. Drug delivery, tissue engineering, and wound healing are just a few of the many uses for these compounds. A pioneer in the creation of nanomaterials for medicinal use is Mexico. Due to their special qualities, these materials can be used for imaging, diagnostics, and drug administration. Hydrogels are materials with a high-water absorption capacity and are frequently used in drug administration and tissue engineering. Leading the way in the creation of hydrogels for medicinal use is Mexico. Biomaterials are essential in the creation of medical devices, which are a thriving business in Mexico. Implants, surgical instruments, and diagnostic tools are just a few of the medical products that are created using biomaterials. In order to encourage tissue regeneration and restoration, biomaterials are used in wound healing. Additionally, they can be used to stop infections and lessen damage.

mexico biomaterials in healthcare market

Market Dynamics

Market Growth Drivers

Research and development spending have increased in Mexico, including in the area of biomaterials. By encouraging the creation of fresh and cutting-edge biomaterials, this is anticipated to fuel growth in the Mexico healthcare biomaterials market. The aging population and growing prevalence of chronic diseases in Mexico are driving up the demand for medical implants. The market for biomaterials in healthcare is anticipated to expand as a result of the widespread use of these materials in the creation of medical implants. Due to its affordable healthcare and proximity to the United States, Mexico is frequently chosen for medical tourism. As more patients seek medical care in Mexico, this is anticipated to fuel market development in the biomaterials sector of the healthcare industry. The creation of biodegradable polymers and nanomaterials is just two examples of recent significant developments in the development of biomaterials. The range of applications for biomaterials is anticipated to increase as a result of these technological developments, which will fuel growth in the Biomaterials in Healthcare market.

Market Restraints

Manufacturers in Mexico's Biomaterials in Healthcare market might only have a few financing options for new biomaterials product development and research. This may hinder their capacity for innovation and new product development. It may be challenging for manufacturers to create a presence on the market due to competition from well-established products.

Competitive Landscape

Key Players

  • BIOMEDICA MEXICANA S.A DE C.V. (MX)
  • Medstent (MX)
  • BASF SE
  • Johnson and Johnson
  • Medtronic
  • Evonik Industries

Recent Notable Deals

2022: Consensus Orthopaedics, a Mexican manufacturer of orthopaedic devices, was taken over by Zimmer Biomet Holdings Inc. for an undisclosed sum, acquiring a 50% share. The influence of Zimmer Biomet will be boosted in Mexico as a result of this acquisition, and its orthopaedic product line will be increased.

Healthcare Policies and Regulatory Landscape

The Federal Commission for the Protection against Sanitary Risks (COFEPRIS) is in charge of Mexico's biomaterials regulatory system. The quality, effectiveness, and safety of medical devices, including biomaterials, distributed in Mexico, are the responsibility of COFEPRIS. Manufacturers must adhere to local laws and acquire COFEPRIS approval in order to sell biomaterials in Mexico. The approval procedure entails presenting proof of the biomaterial's quality, effectiveness, and safety as well as, if necessary, running clinical trials. The use of biomaterials in healthcare in Mexico is governed by COFEPRIS in addition to other regulatory organizations like the National Institute of Medical Sciences and Nutrition Salvador Zubiran (INCMNSZ). The INCMNSZ is in charge of undertaking studies and formulating regulations pertaining to the utilization of medical devices, including biomaterials, in the nation.

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

Biomaterials in Healthcare Market Segmentation

By Type (Revenue, USD Billion):

Based on type, the market is segmented into Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials, and Natural Biomaterials. The Metallic Biomaterials segment accounted for the largest share of the Mexico market in 2019. The growing geriatric population Mexicoly is expected to drive growth for this segment.

  • Metallic Biomaterials
    • Stainless Steel
    • Titanium & Titanium Alloys
    • Cobalt-Chrome Alloys
    • Gold
    • Silver
    • Magnesium
  • Polymeric Biomaterials
    • Polymethylmethacrylate
    • Polyethylene
    • Polyester
    • Silicone Rubber
    • Nylon
    • Polyetheretherketone
    • Other Polymeric Biomaterials
  • Ceramics
    • Calcium Phosphate
    • Zirconia
    • Aluminum Oxide
    • Calcium Sulfate
    • Carbon
    • Glass
  • Natural Biomaterials
    • Hyaluronic Acid
    • Collagen
    • Gelatin
    • Fibrin
    • Cellulose
    • Chitin
    • Alginates
    • Silk

By Application (Revenue, USD Billion):

The cardiovascular, orthopaedic, dental, plastic surgery, wound healing, tissue engineering, ophthalmology, neurological/CNS, and other applications segments are made up of the biomaterials market. The market category for wound healing is anticipated to have the highest CAGR in 2019. The market will increase as a result of factors including expanding healthcare infrastructure, a large population pool, a rising diabetic population, and rising healthcare spending. Surgical Guides

  • Cardiovascular
    • Catheters
    • Stents
    • Implantable Cardiac Defibrillators
    • Pacemakers
    • Sensors
    • Heart Valves
    • Vascular Grafts
    • Guidewires
    • Others
       
  • Orthopedic
    • Joint Replacement
      • Knee Replacement
      • Hip Replacement
      • Shoulder Replacement
      • Others
    • Viscosupplementation
    • Bioresorbable Tissue Fixation
    • Spine?
      • Spinal Fusion Surgeries
      • Minimally Invasive Fusion Surgeries
      • Motion Preservation & Dynamic Stabilization Surgeries
        • Pedicle-Based Rod Systems
        • Interspinous Spacers
        • Artificial Discs
    • Fracture Fixation Devices
      • Bone Plates
      • Screws
      • Pins
      • Rods
      • Wires
    • Synthetics Bone Grafts
       
  • Ophthalmology
    • Contact Lenses
      • Intraocular Lenses
      • Functional Replacement of Ocular Tissues
      • Synthetic Corneas
      • Others
  • Dental
    • Dental Implants
    • Dental Bone Grafts & Substitutes
    • Dental Membranes
    • Tissue Regeneration
       
  • Plastic Surgery
    • Soft-Tissue Fillers
    • Craniofacial Surgery
       
  • Wound Healing
    • Wound Closure Devices
      • Sutures
      • Staples
    • Surgical Hemostats
    • Internal Tissue Sealants
    • Adhesion Barriers
    • Hernia Meshes
       
  • Tissue Engineering
    • Scaffolds for Regenerative Medicine
    • Nanomaterials for Biosensing
    • Tailoring of Inorganic Nanoparticles
      ?
  • Neurological/Central Nervous System Applications
    • Shunting Systems
    • Cortical Neural Prosthetics
    • Hydrogel Scaffolds for CNS Repair
    • Neural Stem Cell Encapsulation
      ?
  • Other Applications
    • Drug Delivery Systems
    • Gastrointestinal Applications
    • Bariatric Surgery
    • Urinary Applications

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.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

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
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

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.

To request a free sample copy of this report, please complete the form below.


We value your inquiry and offer free customization with every report to fulfil your exact research needs.


This report addresses

  • Intelligent insights to take informed business decisions
  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
  • Comprehensive Market Research Report in PDF and PPT formats

Need more?

  • Ask our analyst how this study was put together to learn more
  • Discuss additional requirements as part of the free customisation
  • Add more countries or regions to the scope 
  • Get answers to specific business questions 
  • Develop the business case to launch the product
  • Find out how this report may influence your business revenue
Last updated on: 27 March 2023
Updated by: Vidhi Upadhyay

Related reports (by category)


Related reports (by geography)


subscribe to our newsletter
up