The Mexican general surgical devices market size is estimated to register a substantial CAGR of over 4.8% during the forecast period, 2021–2028. The growth of the market is attributed to rising need for minimally invasive surgeries in the country.
These devices are specially designed instruments or tools that serve a specific purpose during a surgery, which include forceps, scissors, surgical needles, etc.
Rising healthcare expenditure is estimated to surge medical infrastructural development, which is significant for the growth of the surgical devices market in Mexico. The key players of surgical devices are aiming to gain a foothold in emerging economies, such as Mexico and Brazil, in order to explore new markets and expand their business operations, thereby developing an advanced healthcare infrastructure. Furthermore, increasing healthcare expenditure, rapidly developing healthcare infrastructure, and strong local manufacturing base have led to increased and advanced surgical procedures performed in this country.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for minimally invasive devices is expected to drive the market during the forecast period
- Rising unmet healthcare needs and in the country plays a crucial role in propelling the market growth in coming years
- Growing healthcare expenditure, sturdy manufacturing base, and rapid development in healthcare infrastructure are expected to fuel the general surgical devices market in the near future.
- Increasing awareness of patients and high incidence of cardiac related diseases and gastrointestinal diseases are expected to boost the demand of general surgical devices.
- R&D investment and technological advancement in the Mexican general surgical devices market are expected to offer lucrative opportunities for the market players.
Scope of the Report
The report on the Mexican general surgical devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Mexico General Surgical Devices Market -Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Product (Handheld Devices, Laparoscopic Devices, Electro Surgical Devices, Wound Closure Devices, Trocars and Access Devices, and Others) and Application (Gynecology and Urology, Cardiology, Orthopaedic, Neurology, and Others)
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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B. Braun Melsungen AG, Conmed Corporation, Medtronic PLC, Boston Scientific Corporation, and Stryker Corporation
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Market Segment insights
The handheld devices segment is projected to constitute a large market share
Based on product, the Mexican general surgical devices market is segregated into handheld devices, laparoscopic devices, electro surgical devices, wound closure devices, trocars and access devices, and others. The handheld devices segment is expected to account for a key share of the market during the forecast period owing to rising demand for minimally invasive surgeries in the region. Furthermore, advances in handheld surgical devices, extensive use of surgical instruments in recent times are driving the segment growth
The orthopaedic segment is expected to register a substantial CAGR
Based on application, the Mexican general surgical devices market is divided into gynecology and urology, cardiology, orthopaedic, neurology, and others. The orthopaedic segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to increasing cases of bone diseases and rising geriatric population in the country. Furthermore, favorable reimbursement, product innovations, and improving diagnosis methods and imaging technology in orthopedic surgery are further expected to drive the segment.
Segments
Segments Covered in the Report
The Mexican general surgical devices market has been segmented on the basis of:-
Product
- Handheld Devices
- Laparoscopic Devices
- Electro Surgical Devices
- Wound Closure Devices
- Trocars and Access Devices
- Others
Application
- Gynecology and Urology
- Cardiology
- Orthopaedic
- Neurology
- Others
Key Companies
- B. Braun Melsungen AG
- Conmed Corporation
- Medtronic PLC
- Boston Scientific Corporation
- Stryker Corporation
Competitive Landscape
Key players competing in the Mexican general surgical devices market include B. Braun Melsungen AG, Conmed Corporation, Medtronic PLC, Boston Scientific Corporation, and Stryker Corporation.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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