Home > Blog > Precision Hand Tools > @article.title

Mexico: on the Move as a Medical Device Player

By EXCELTA Corporation on Aug 17, 2013 at 01:38 PM in Precision Hand Tools
Production of medical devices in Mexico is on the up rise, expected to grow by 74% from 2011 to 2020.

Medical Device Manufacturing in Mexico is on the rise.

Production of medical devices in Mexico is expected to grow by 74% from 2011 to 2020, rising from $8,562 to $14,914 million. The overall annual growth rate over that time of 6.4% will outpace other NAFTA countries as well as Germany, Japan, and Switzerland.

According to ProMexico, the Mexican government pro-trade organization, there were 2321 "economic units" in the country related to devices in 2010. Of those, 744 were exporters, with those businesses located mainly in Baja California, Chihuahua, Coahuila, Distrito Federal, Estado de México, Jalisco, Nuevo León, Sonora and Tamaulipa.

Approximately 67 of those device exporters are located in Baja, including big name device firms like Smiths, Tyco Healthcare, Cardinal Health, Pall Life Sciences, Medtronic, Gambro, Medimexico, ICU Medical Inc., Hudson Aci, Dj Ortho, CLP, Sunrise Medical, and North Safety Products.

Mexico: on the Move as a Medical Device Player Who is Where

Those companies have helped make Mexico the 11th largest medical device exporter in the world, according to ProMexico, including being the main exporter in Latin America and the leading supplier to the U.S. More than 80% of Mexico's exports are destined for the U.S. 

A huge market and a shared border make California a key trade conduit, with goods flowing both ways. California was the second largest exporting U.S. state to Mexico ($20.9 billion in 2010, 17% of the total of $163.3 billion) behind only Texas ($56 billion, 59% of the total). California is also the second largest importing state from Mexico, behind Texas once again, with imports of $33 billion.

First BRIC now MIST 

For years, the so-called BRIC countries of Brazil, Russia, India, and China have been looked to to lead growth in the developing world, but in 2011, a new acronym was born. MIST, short for Mexico, Indonesia, South Korea, and Turkey, was coined by Goldman Sach's Jim O'Neil.