Mexico Digital Health Market Analysis Report 2022 to 2030

Mexico Digital Health Market Analysis

$ 3999

The Mexico Digital Health market is projected to grow from $3.17 Bn in 2022 to $xx Bn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. The market will be driven by the adoption of digital health solutions, legislative efforts, and an increase in investments. The market is segmented by solution, by deployment & by end-use. Some of the major players include Philips, GE HealthCare & Sofia.

ID: IN10MXDH005 CATEGORY: Digital Health GEOGRAPHY: Mexico AUTHOR: Vidhi Upadhyay

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Mexico Digital Health Market Executive Summary

The Mexico Digital Health market is projected to grow from $3.17 Bn in 2022 to $xx Bn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. The healthcare expenditure for Mexico raised from $521.01 per person (5.38% of GDP) in 2018 to $540.37 per person (5.43% of GDP) in 2019 as per the World Health Organization Global Health Expenditure database. Despite this increase, Mexico's healthcare expenditure remains relatively low compared to other countries in the region and globally.

The government has been encouraging the adoption of digital health technologies to increase access to treatment while also lowering costs for patients and healthcare providers. There have been some initiatives in the country to encourage telemedicine and other digital health solutions, such as electronic health records. Moreover, technologies such as mHealth, artificial intelligence, blockchain, telehealth, diagnostic devices, and big data are also constantly emerging in Mexico.

Mexico has one of the world's highest diabetes rates and over 14 Mn Mexicans had diabetes by the end of 2021, and maybe another 40 million were expected to get the condition. Clínicas del Azúcar (CdA) one of the largest private diabetes healthcare providers in Mexico implemented an interim telemedicine service that connects patients with physicians and nurses via video and telephone chats.

Market Dynamics

Market Growth Drivers

The Mexican government has pushed the adoption of digital health solutions through legislative efforts and investment, resulting in market development. The growing need for higher-quality treatment, as well as rising healthcare expenses, has raised the demand for digital healthcare initiatives, which provide a more effective and cost-effective alternative to conventional healthcare services. Mexico has also invested in its technological infrastructure, which has increased access to digital health solutions and offered new market prospects. Furthermore, telemedicine is becoming more popular in Mexico, which has contributed to the expansion of the digital health industry.

Market Restraints

In Mexico, out-of-pocket spending accounts for 40 percent of people’s total expenditures on health, which is one of the highest rates in the world. Mexico's digital health sector is slowed by a number of factors that impede its growth and acceptance such as a lack of infrastructure and technology, inadequate internet access, limited government support, privacy, and security considerations, restricted healthcare funding, physician and patient unwillingness to change, and a shortage of market standards. These issues require to be tackled in order to fully realize the possibilities of digital health solutions in Mexico.

Competitive Landscape

Key Players

Philips: A worldwide health technology leader that provides digital health solutions for telemedicine, imaging, and patient monitoring
GE Healthcare: A leading provider of medical imaging, health monitoring, and digital health solutions throughout the world
Siemens Healthineers: Global medical technology firm that provides a variety of digital health solutions such as telemedicine, remote monitoring, and e-health services
Cerner: It is a major player in the digital health market, offering electronic health records (EHR) and other clinical information systems
IBM: IBM Watson Health a division of IBM that offers a variety of digital health solutions including EHR, population health management, precision medicine, medical imaging, and virtual health through AI and other advanced technologies
Sofia (MEX): health insurance company. It offers consumers many types of medical coverage. It enables people to take better care of their health
Yana (MEX): Provider of AI-based personal chatbots for mental wellness

Healthcare Policies and Regulatory Landscape

Federal Commission for the Protection against Sanitary Risk (COFEPRIS) is the Mexican regulatory institution in charge of implementing the regulatory framework. COFEPRIS examines all medical equipment and, if relevant, the software that allows them to function.

The National Center of Health Technology Excellence was established to set recommendations for evaluating health technology and clinical practices, as well as to manage medical devices and telemedicine.

The authority in charge of enforcing the Law is the National Institute of Transparency, Access to Information, and Personal Data Protection (INAI).

Reimbursement Scenario

The reimbursement scenario in Mexico is yet in the nascent stage of development. The government sector does not reimburse for digital health services and products but private insurance companies may reimburse some digital health solutions and products considering the certification, registration, type of service, or product in order to be reimbursed.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 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

Digital Health Market Segmentation

The Digital Health Market is segmented as mentioned below:

By Solution (Revenue, USD Billion):

Software
Services

By Deployment (Revenue, USD Billion):

Cloud-based
On-premises

By End-use (Revenue, USD Billion):

Diagnostic Centres
Healthcare Payers
Healthcare Research Centres
Hospitals & Clinics
Nursing Care Centres
Others

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.