The Mexico Patient Monitoring Market is expected to register a CAGR of 4.8% during the forecast period, owing to the factors such as the increasing burden of chronic disorders and growing preference for home and remote monitoring.
According to the International Diabetes Federation (IDF), as of 2020 in Mexico, there are around 12,805,200 cases of diabetes in adults. The prevalence of diabetes in the adult population is 15.2%.
In addition, as per the study of “The State of Food Security & Nutrition around the World” showed adult obesity rates are continuously rising and in 2017 more than one in eight adults or more than 672 million Mexican population is obese which is expected to boost the market as this population need monitoring devices in the management of diseases. Thus, owing to the above-mentioned factors the demand for patient monitoring is expected to show a significant growth rate over the forecast period.
Key Market Trends
Hemodynamic Monitoring Devices Segment is Expected to Grow Fastest Over the Forecast Period
The major factors driving the growth of this segment include the rising burden of chronic diseases such as diabetes and cardiovascular diseases due to lifestyle changes and the growing demand for home-based and non-invasive monitoring systems. According to the latest World Health Organization (WHO) data, stroke deaths in Mexico were around 35,324 or 6.23% of total deaths in 2018. The age-adjusted death rate was 30.61 per 100,000 of the population.
The high death rates of stroke are expected to show greater demand for hemodynamic patient monitoring devices which shows a positive impact on market growth.
The Mexico patient monitoring market is consolidated competitive. The companies are implementing certain strategic initiatives, such as mergers, new product launches, acquisitions, and partnerships that help them in strengthening their market position. Some of the market players are Koninklijke Philips NV, Nihon Kohden Corporation, GE Healthcare (GE Company), Abbott Laboratories, Dragerwerk AG & Co. KGaA, and others.