Market Trends of Mexico Endoscopy Devices Industry
Capsule Endoscope Segment is Expected to Show Lucrative Growth in the Market Over the Forecast Period
- The fracture repair devices are expected to register healthy growth due to the increasing burden of spine diseases and fractures as a result of musculoskeletal disorders. Spinal cord injury stems from a traumatic blow on the spine that fractures, dislocates, crushes, or compresses one or more vertebrae. Therefore, spinal cord injuries boost the demand for fracture repair devices for treating such conditions. For instance, an article published in Médecine Intensive Réanimation in September 2021 stated that the number of spinal cord injuries in France is around 2000 new cases per year. The high burden of spinal cord injury propels the segment's growth during the forecast period.
- Furthermore, per the International Osteoporosis Foundation 2021 update, the new fragility fractures are estimated to increase by 26.0% in 2034, representing 610,000 fractures in 2034. Additionally, according to the French Road Safety Observatory (ONISR) 2023 update, there were 53,540 injury traffic accidents and 67,057 injured people during the accidents in mainland France in 2021. Osteoporosis is reported to complicate spinal surgery; hence, the high burden of osteoporosis and road accidents is anticipated to increase the spinal fractures and augment the utility for fracture repair devices, propelling the segment's growth during the forecast period.
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Gastroenterology Application is Expected to Have Highest CAGR in the Market Over the Forecast Period
- The gastroenterology application segment is expected to witness significant growth over the forecast period owing to the high burden of gastrointestinal diseases and increasing government initiatives and funding for healthcare facilities in the country.
- The high burden of gastrointestinal diseases increases the demand for diagnostic endoscopies to identify diseases in the gastrointestinal system. For instance, as per the report published by UNAM in July 2022, seven out of ten Mexican patients are infected with helicobacter pylori, which causes peptic ulcers in the stomach. This shows the high burden of the disease, which increases the demand for endoscopy and is expected to boost the market over the study period.
- Furthermore, the rise in investments in hospital infrastructure in Mexico is predicted to create numerous opportunities for the availability of various medical devices and interventional devices in healthcare settings. For instance, in April 2022, the Jalisco government, Mexico, planned to invest more than USD 301.5 million in healthcare infrastructure over the next 3 years to build new hospitals and healthcare centers and upgrade existing ones. These investments are predicted to increase the endoscopy equipment within healthcare facilities and are expected to propel the market through this segment.
