Mexico Coronary Stents Market Report 2022 to 2030

Mexico Coronary Stents Market Analysis

$ 3999

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.

ID: IN10MXMD006 CATEGORY: Medical Devices GEOGRAPHY: Mexico AUTHOR: Jigyasu Bhandari

Buy Now

Mexico Coronary Stents Healthcare Market Executive Analysis

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.

Mexico Coronary Stents Market Analysis

Market Dynamics

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.

Competitive Landscape

Key Players

BIOMEDICA MEXICANA (MX)
Medstent (MX)
Biotronik
Boston Scientific
B. Braun
Abbott Laboratories
GE Healthcare
Medtronic
Philipps Healthcare

Healthcare Policies and Regulatory Landscape

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

Coronary Stents Market Segmentation

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.

Bare-metal Stents
Drug-eluting Stents
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.

Balloon-expandable Stents
Self-expanding Stents

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.

Metallic Stents
Cobalt-Chromium
Platinum Chromium
Nickel Titanium
Stainless Steel
Other 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.

Hospitals
Cardiac Centers
Ambulatory Surgical Centers

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.