Mexico Cardiac Resynchronization Therapy Market

Mexico Cardiac Resynchronization Therapy Market


$ 3999

Mexico Cardiac Resynchronization Therapy Market valued at $72 Mn in 2022, projected to reach $108 Mn by 2030 with a 5.25% CAGR. The global rise in heart failure cases, driven by aging populations and lifestyle-related cardiovascular diseases, is a key factor contributing to the expansion of the Cardiac Resynchronization Therapy (CRT) market. Currently, leading participants in this market include Abbott, Boston Scientific, Medtronic, Siemens Healthineers, Johnson & Johnson, Biotronik, LivaNova, MicroPort, Sorin Group, and St. Jude Medical.

ID: IN10MXPH443 CATEGORY: Pharmaceuticals GEOGRAPHY: Mexico AUTHOR: Dr. Medha Sansanwal

Buy Now

Mexico Cardiac Resynchronization Therapy Market Executive Summary

Mexico Cardiac Resynchronization Therapy Market valued at $72 Mn in 2022, projected to reach $108 Mn by 2030 with a 5.25% CAGR.

Cardiac resynchronization therapy (CRT) involves the use of a pacemaker to correct the heart's rhythm through a minor surgical procedure. Implanted beneath the skin, the CRT pacemaker is responsible for coordinating the timing between the upper (atria) and lower (ventricles) heart chambers, as well as synchronizing the left and right sides of the heart. This intervention is particularly crucial in cases of heart failure, where inadequate pumping results in fluid accumulation in the lungs and legs due to the asynchronous beating of the two lower chambers (ventricles). Additionally, in the presence of severe heart rhythm issues, a physician might suggest an implantable cardioverter-defibrillator (ICD), which can be combined with CRT therapy. The CRT device connects wires from the pacemaker to both sides of the heart, employing biventricular pacing to transmit electrical signals to the ventricles, ensuring coordinated contractions and optimizing overall heart function.

Cardiovascular disorders are the leading cause of mortality in Mexico, accounting for 141,619 deaths, with 30% occurring in people under 70. The prevalence of cardiovascular disease (CVD) in older patients with long-term type 2 diabetes, mostly treated in private clinics, was exceptionally high at 36.9%. Specific prevalence rates were 3.9% for cerebrovascular disease, 5.0% for peripheral arterial disease, 8.4% for heart failure, and 23.1% for coronary heart disease. The HEARTS project, initiated in 2020, aims to reduce death and disability from cardiovascular events by implementing efficient hypertension management and enhancing cardiovascular health nationwide.

Major medical device manufacturers are introducing advanced Cardiac Resynchronization Therapy (CRT) devices with notable features. Miniaturization reduces the invasiveness of implantation procedures, while multi-electrode leads to enhanced stimulation efficacy. Remote monitoring capabilities enable better patient follow-up and prompt intervention. Sophisticated algorithms and artificial intelligence-powered features allow for individualized therapy modifications, representing a significant advancement. Clinical trials for next-generation CRT technology are underway in Mexico, aiming to evaluate effectiveness in improving patient outcomes and increasing access to cutting-edge therapies.

Mexico cardiac resynchronization therapy market

Market Dynamics

Market Growth Drivers

Increasing Incidence of Heart Failure: The increasing number of heart failure cases in Mexico is driving the demand for advanced cardiac therapies as the population ages and lifestyles change. Hypertension, myocardial infarction, atrial fibrillation, and heart failure represented an expense of $11.2 Bn in Mexico. Cardiovascular diseases are the leading cause of death in Mexico, with 141,619 deaths, and hypertension affects 18.4% of the population over 20 years of age. The HEARTS initiative has been launched in Mexico to improve the prevention and control of hypertension at the primary care level.

Technological Advancements in CRT Devices: Ongoing advancements in CRT device technologies, such as miniaturization, multi-electrode leads, and artificial intelligence-powered features, attract healthcare providers and patients alike. The adoption of these cutting-edge technologies enhances the effectiveness of therapy and contributes to market growth.

Rising Awareness and Education: Growing awareness among healthcare professionals and the general public about the benefits of CRT for managing heart conditions fuels market growth. Education campaigns and initiatives by medical professionals and industry players contribute to increased acceptance and adoption of CRT therapies.

Market Restraints

Restricted Insurance Benefits: Limited insurance coverage in certain areas poses a challenge for medical procedures like CRT, potentially hindering the broad adoption of these therapeutic interventions. This constraint could result in restricted accessibility and affordability for patients seeking cardiac resynchronization therapy in those regions.

Regulatory Obstacles: The regulatory landscape in Mexico poses challenges for the CRT market, potentially impacting the timely approval and introduction of innovative devices and technologies. Navigating regulatory hurdles may require strategic considerations for market players seeking to establish a presence in the healthcare sector in Mexico.

Economic Factors: Economic challenges and constrained financial resources can hinder the affordability of Cardiac Resynchronization Therapy (CRT) devices and procedures, impacting both healthcare facilities and patients in Mexico.

Healthcare Policies and Regulatory Landscape

In Mexico, the oversight of healthcare policies and regulatory control over therapeutic drugs primarily falls under the responsibility of the Federal Committee for Protection against Sanitary Risk (COFEPRIS), a division of the Ministry of Health. COFEPRIS collaborates with the Ministry of Health to ensure the effectiveness, safety, and quality of medications. The National Cancer Institute (INCan) serves as a pivotal reference organization for cancer care, while the National Institute of Public Health (INSP) contributes to the scientific foundation for healthcare decisions. The Mexican Social Security Institute (IMSS) influences drug accessibility and usage regulations for insured individuals, and the General Health Council provides guidance on health-related matters. Additionally, risk evaluation and management are facilitated by the National Commission for Protection against Health Risks (CONARIS).

Competitive Landscape

Key Players

  • Abbott
  • Boston Scientific
  • Medtronic
  • Siemens Healthineers
  • Johnson & Johnson
  • Biotronik
  • LivaNova
  • MicroPort
  • Sorin Group
  • St. Jude Medical

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 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

Mexico Cardiac Resynchronization Therapy Market Segmentation

By Product

  • CRT-Defibrillator
  • CRT-Pacemaker

By Age

  • Below 44 years
  • 45-64 years
  • 65-84 years
  • Above 85 years

By End-Users

  • Hospitals
  • Cardiac care Centres
  • Ambulatory Surgical Centres

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: 01 January 1970
Updated by: Shivam Zalke

Related reports (by category)


Related reports (by geography)


subscribe to our newsletter
up