Mexico Home Healthcare Market Analysis Report [2022-30]

Mexico Home Healthcare Market Analysis

$ 3999

The Mexico home healthcare market was valued at $5.44 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of XX% from 2022 to 2030 and will reach $XX Bn in 2030. One of the main reasons propelling the growth of this market is the introduction of newer technologies, and the aging population. The market is segmented by service and product. Some key players in this market are Grupo Home Health, GRUPO PTM, Nurses and Caregivers at Home Cura Mexico and Esperanza Home Healthcare Services many more.

ID: IN10MXHS010 CATEGORY: Healthcare Services GEOGRAPHY: Mexico AUTHOR: Nandini Shah

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Mexico Home Healthcare Market Executive Summary

The Mexico home healthcare market was valued at $5.44 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of XX% from 2022 to 2030 and will reach $XX Bn in 2030. The home healthcare market in Mexico is growing due to a number of factors such as an aging population, increasing rates of chronic diseases, and a growing awareness of the benefits of in-home care.

Like many other Latin American countries, healthcare service provision in Mexico is challenged with the difficulty of delivering essential services to a primarily poor population. The difficulty that is particular to Mexico is providing services to a population whose demographics are rapidly changing and whose overall health is improving

Market Dynamics

Market Growth Drivers

Mexico has an aging population, and as people get older, they are more likely to need home healthcare services. Mexico's overall population was 126 million people, according to the 2020 Housing and Population Census. 12% of those polled were 60 or older. By 2050, this older generation will account for 25% of the overall population. For the first time, seniors 60 and older outnumbered youngsters 0-4 years old in 2015. This is expected to drive growth in the home healthcare market in the coming years. The rates of chronic diseases, such as diabetes and heart disease, are increasing in Mexico, and many patients with these conditions require long-term care and support. This is also driving growth in the home healthcare market. Diabetes became increasingly common beyond the age of 50, with 23.8% of men and 26.9% of women aged 65-74 reporting a diagnosis. Due to this, there is a growing awareness of the benefits of in-home care, and more people are recognizing the advantages of receiving care at home rather than in a hospital or nursing home. With this, the Mexican government is taking steps to increase access to home healthcare services by implementing policies that support the growth of the industry. This includes tax incentives for companies that invest in home healthcare and subsidies for low-income families to access these services.

Market Restraints

There is a shortage of trained healthcare professionals, such as nurses and therapists, in Mexico, which makes it difficult for the home healthcare industry to provide adequate care to patients. In some rural areas of Mexico where 54% reside in Quintana Roo and over 70% in Zacatecas, Yucatán, Campeche, San Luis Potosí, Nuevo León, and Coahuila, there is limited access to technology and medical equipment, making it difficult for home healthcare providers to offer advanced care services to patients. Despite government initiatives to make home healthcare more accessible, financial barriers remain a major challenge for many patients. The cost of home healthcare services can be high, and many low-income families cannot afford to pay for these services. Also, there is a lack of awareness about home healthcare services among the general public in Mexico, and many people are not familiar with the benefits of in-home care.

Competitive Landscape

Key Players

Grupo Home Health
GRUPO PTM
Nurses and Caregivers at Home Cura Mexico
Esperanza Home Healthcare Services
At Home Healthcare
Mi Casa
Professional Home Healthcare
Home Health Aide

Healthcare Policies and Regulatory Landscape

COFEPRIS regulates medical devices (Comision Federal para la Proteccion contra Riesgos Sanitarios). All medical equipment imported into or distributed within Mexico must be registered with COFEPRIS first. COFEPRIS is responsible for reviewing and approving the marketing and sale of prescription drugs in Mexico.

Medicines and Healthcare Products Regulatory Body (MHRA) is a government agency in charge of ensuring that medicines and medical devices function properly and are safe. It is an executive agency of the Department of Health.

The current Mexican government (MORENA) is promoting an amendment to the scheme of self-regulated maximum retail price (MRP), which consists, in general, of the Ministry of Economy, in collaboration with the Ministry of Health, guaranteeing access to medications and inputs to people in poverty through a transparent process and taking differentiated policies into account. Furthermore, these Authorities would regulate and review price controls on an annual basis.

Reimbursement scenario

As such, there is no insurance policy on Home healthcare in Mexico but the government is working to address reimbursement issues in the home healthcare industry to ensure that patients receive the care they need.

The General Health Law and its Regulations are the main pieces of legislation regulating the licensing, costing, and reimbursement of pharmaceuticals, biologicals, and medical devices. These rules and regulations are reinforced by COFEPRIS Guidelines and Official Norms (NOMS).

Private insurance firms provide indemnity coverage for medical expenses by reimbursing policyholders, hospitals, or physicians. The National Insurance and Securities Commission (CNSF) regulates indemnity insurance to guarantee that it has the financial capacity to cover its contractual risks.

Private insurers can also join Special Health Insurance Institutions (ISES), a type of insurance that reimburses healthcare costs while also providing preventive, curative, and rehabilitation services directly through their own or contracted infrastructure.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market 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 Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Home Healthcare Market Segmentation

By Device Type (Revenue, USD Billion):

Based on the Device Type the market is segmented into Testing, Screening, Monitoring Devices, Therapeutic Home Healthcare Devices, and Mobility Assist.

Testing, Screening, and Monitoring Device
Blood Glucose Monitors
Blood Glucose Monitors
Blood Pressure Monitors
Heart Rate Monitors
Temperature Monitors
Sleep Apnea Monitors
Coagulation Monitors
Ovulation and Pregnancy Test Kits
Pulse Oximeters
Home Hemoglobin A1C Test Kit

Therapeutic Home Healthcare Devices
Oxygen Delivery Systems
Nebulizers
Ventilators
Sleep Apnea Therapeutic Devices
Wound Care Products
IV Equipment
Dialysis Equipment
Insulin Delivery Devices
Inhalers
?Other Therapeutic Products (ostomy devices, automated external defibrillators (AEDs)

Mobility Assist
Walkers and Rollators
Wheelchairs
Canes
Crutches
?Mobility Scooters

By Service Type (Revenue, USD Billion):

Skilled Nursing Services
Rehabilitation Therapy Services
Hospice and Palliative Care Services
Unskilled Care Services
Respiratory Therapy Services
Infusion Therapy Services
Pregnancy Care Services?

By Indication Type (Revenue, USD Billion):

Cardiovascular Disorders & Hypertension
Diabetes
Respiratory Diseases
Pregnancy
Mobility Disorders
Hearing Disorders
Cancer
Wound Care
?Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV)

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.