Mexico's Coronary Stents Market is expected to witness growth from $170 Mn in 2022 to $250 Mn in 2030 with a CAGR of 5.00% for the forecasted year 2022-30. In Mexico, where the rate and frequency of heart failure are extremely high, it is a significant public health concern. This expands the market for coronary stents and other CAD treatments. The market is segmented by type, mode of delivery, materials, and end user. Some key players in this market include BIOMEDICA MEXICANA, Medstent, B. Braun, Abbott Laboratories, Biotronik, Medtronic, GE Healthcare, Boston Scientific, Transmedia Healthcare and Philips Healthcare.
Mexico's Coronary Stents Market is expected to witness growth from $170 Mn in 2022 to $250 Mn in 2030 with a CAGR of 5.00% for the forecasted year 2022-30. Mexico experienced a large increase in health spending from 6.2% in 2020 to 7.41% in 2023, compared to a regional gain of 0.9% on average for the Organisation for Economic Cooperation and Development. In 2020, 6.2% of Mexico's GDP -- its total economic output -- went to the medical sector. The average Mexican still needs to pay for these expenses out of pocket, despite the fact that the percentage has dropped from 55% to 45%.
In Mexico, cardiovascular disease is the main cause of death, accounting for over 23% of all fatalities. In Mexico, there were 187 acute myocardial infarctions per 100,000 people in 2022. In Mexico, where coronary artery disease is a major cause of morbidity and mortality, coronary stents are frequently utilized to treat the condition. Coronary stents are used to repair coronary artery blockages, which can result in symptoms including shortness of breath and chest pain. The stents assist in maintaining the artery's openness and enhance heart-healthy blood flow. It has been demonstrated that patients with CAD who use coronary stents have improved clinical outcomes. According to studies, using stents can lower the risk of serious adverse cardiovascular events including heart attack and stroke. A catheter can be placed through a small incision in the groin or wrist to undertake the minimally invasive surgery of placing a coronary stent. Compared to open heart surgery, this method lowers the chance of problems and allows for quicker recovery times. Substantial demand for coronary stents exists in Mexico as a result of the country's high CAD prevalence and expanding geriatric population. This has given manufacturers the chance to increase their market share in Mexico for coronary stents.
Market Growth Drivers
In Mexico, where the rate and frequency of heart failure are extremely high, it is a significant public health concern. This expands the market for coronary stents and other CAD treatments. Due to government investments in healthcare infrastructure and increased access to medical services, healthcare spending in Mexico has been rising in recent years. Demand for cardiovascular treatments, such as coronary stents, is anticipated to rise as a result. With clear regulations and expedited approval procedures, Mexico's regulatory environment for medical devices is generally favourable. As a result, the market for coronary stents grows as producers are encouraged to innovate and compete.
Market Restraints
Coronary stent sales in Mexico are extremely fierce, with both domestic and foreign manufacturers fighting for market dominance. The market for generic coronary stents is also expanding, which may put pressure on costs and reduce the ability of branded goods to generate revenue. The demand for coronary stents may be impacted and patient access to medical procedures, such as the implantation of coronary stents, may be restricted. With a substantial proportion of patients depending on public healthcare programmes or paying out-of-pocket for medical bills, the market for coronary stents in Mexico is quite price-sensitive. Manufacturers may experience pressure to lower prices as a result of having to strike a balance between maintaining profitability and the requirement for accessibility.
Key Players
The Federal Commission for Protection against Sanitary Risk (COFEPRIS), which is in charge of policing the nation's medical device and pharmaceutical industries, is in charge of overseeing the healthcare laws and regulatory framework in the Mexican coronary stent market. In order to sell coronary stents in Mexico, manufacturers must register their products with COFEPRIS. With demands for clinical data and other documentation, the registration procedure can be difficult and drawn out. The COFEPRIS-established Good Manufacturing Practises (GMP) standards, which guarantee that goods are produced in a secure and reliable way, must be followed by all medical device producers.
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
By Type (Revenue, USD Billion):
The three main categories of coronary stents are bare-metal, drug-eluting, and bioabsorbable, depending on their nature. The segment for bioabsorbable stents is anticipated to increase at the fastest rate over the forecast period. The benefits that are encouraging the use of bioabsorbable stents include a decrease in problems including thrombosis and inflammation, the cMexicoity to restore normal vasomotion, and an improvement in aberrant endothelial function. However, in the upcoming years, the expansion of this market segment is anticipated to be constrained by the high cost of bioabsorbable stents.
By Mode of Delivery (Revenue, USD Billion):
The market is divided into self-expanding and balloon-expandable stents according to delivery method. Because of the high use of these stents, rising research initiatives to advance the technology, and rising regulatory approvals for balloon-expandable stents, the balloon expandable stents segment is anticipated to increase at the greatest CAGR over the projection period.
By Materials (Revenue, USD Billion):
The coronary stent market is divided into metallic (cobalt chromium, platinum chromium, nickel-titanium, and stainless steel) and other stents according to the material. The market for other stents is anticipated to experience the largest CAGR growth during the projection period. The rapid expansion of this market can be ascribed to the increased use of polymers and copolymers in the production of bioabsorbable stents.
By End User (Revenue, USD Billion):
The coronary stent market is divided into hospitals, cardiac centres, and ambulatory surgical centres based on the end user. According to predictions, the hospital sector will control the market in 2016. This is primarily caused by hospitals using a lot of coronary stents.
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