Mexico Neurology Devices Market Size (2024 - 2029)

The Mexico Neurology Devices Market is anticipated to experience growth driven by factors such as the increasing prevalence of neurological disorders and a rising geriatric population. The market's expansion is supported by technological advancements in neurological devices and strategic activities by market players, including product launches and mergers and acquisitions. Despite these growth drivers, the high cost of equipment may pose a challenge to market expansion.

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Market Size of Mexico Neurology Devices Industry

Mexico Neurology Devices Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR (2024 - 2029) 5.60 %
Market Concentration Medium

Major Players

Mexico Neurology Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

Mexico Neurology Devices Market Analysis

The Mexico Neurology Devices Market is expected to register a CAGR of 5.60% during the forecast period.

  • The key factors propelling the growth of the market are the increasing incidence of neurological disorders, the rising geriatric population, and the rising technological advancements in neurological devices.
  • The increasing incidence of neurological disorders like brain aneurysms, brain tumors, epilepsy, memory disorders, multiple sclerosis, Parkinson's disease, peripheral neuropathy, post-herpetic neuralgia, spinal cord tumors, and strokes is the major factor driving market growth. For instance, according to an article published by PubMed Central in June 2022, a study was conducted in Mexico, which showed that the prevalence of intracerebral hemorrhage and cerebral venous thrombosis was 23.1% and 0.2%, respectively, in patients suffering from acute stroke.
  • Furthermore, according to an article published by Cureus in October 2022, glioblastoma or brain tumors represented the most frequent and aggressive intracranial neoplasia, with a high prevalence in Mexico. Thus, the high prevalence of such neurological disorders is expected to enhance the usage of neurological devices. Moreover, as these neurological diseases mostly occur in the elderly population, the rising geriatric population in the country is also expected to enhance market growth.
  • The market players are engaging in several strategic activities, such as product launches and mergers and acquisitions, which are expected to contribute to market growth during the forecast period. For instance, in March 2022, BioElectronics Corporation announced that its distribution partner in Mexico had received authorization from the Mexican Food and Drug Administration (FDA) (Cofepris), which allowed for the importation of the RecoveryRx neuromodulation device into Mexico. Such approvals are expected to increase the demand for neurological devices, contributing to market growth.
  • Thus, the aforementioned factors, such as the rising prevalence of neurological disorders and the increasing research and development activities, are expected to boost market growth during the forecast period. However, the high cost of equipment is expected to impede market growth.

Mexico Neurology Devices Industry Segmentation

Neurological devices are medical devices that help to diagnose, prevent, and treat a variety of neurological disorders and conditions, such as Alzheimer's disease, Parkinson's disease, major depression, and traumatic brain injury.

The Mexican neurology devices market is segmented by type of device: cerebrospinal fluid management devices, interventional neurology devices, neurosurgery devices, neurostimulation devices, and other types of devices.

The report offers the value (USD) for the above segments.

By Type of Device
Cerebrospinal Fluid Management Devices
Interventional Neurology Devices
Interventional/Surgical Simulators
Neurothrombectomy Devices
Carotid Artery Stents
Embolic Coils
Support Devices
Neurosurgery Devices
Neuroendoscopes
Stereotactic Systems
Aneurysm Clips
Other Neurosurgery Devices
Neurostimulation Devices
Spinal Cord Stimulation Devices
Deep Brain Stimulation Devices
Sacral Nerve Stimulation Devices
Other Neurostimulation Devices
Other Types of Devices
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Mexico Neurology Devices Market Size Summary

The Mexico neurology devices market is poised for significant growth, driven by the increasing prevalence of neurological disorders and advancements in technology. The rising incidence of conditions such as brain tumors, epilepsy, and Parkinson's disease, coupled with a growing geriatric population, is expected to enhance the demand for neurological devices. Strategic activities by market players, including product launches and regulatory approvals, are further anticipated to bolster market expansion. However, the high cost of equipment may pose challenges to market growth. The market is characterized by a semi-consolidated structure, with major players like Medtronic, Boston Scientific, and Abbott Laboratories actively engaging in collaborations and product development to strengthen their market presence.

The sacral nerve stimulation and deep brain stimulation segments are expected to experience notable growth due to the increasing incidence of urinary incontinence and neurological disorders, respectively. The rising adult and geriatric population in Mexico, along with the high prevalence of conditions such as Alzheimer's and Parkinson's disease, is likely to drive the demand for these devices. Additionally, the establishment of advanced facilities and clinical trials in the country underscores the commitment to addressing complex neurological disorders. These factors collectively contribute to the positive outlook for the neurology devices market in Mexico over the forecast period.

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Mexico Neurology Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Growing Burden of Neurological Disorders

      2. 1.2.2 Technological Advancements in Neurological Devices

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost of Equipment

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value in USD)

    1. 2.1 By Type of Device

      1. 2.1.1 Cerebrospinal Fluid Management Devices

      2. 2.1.2 Interventional Neurology Devices

        1. 2.1.2.1 Interventional/Surgical Simulators

        2. 2.1.2.2 Neurothrombectomy Devices

        3. 2.1.2.3 Carotid Artery Stents

        4. 2.1.2.4 Embolic Coils

        5. 2.1.2.5 Support Devices

      3. 2.1.3 Neurosurgery Devices

        1. 2.1.3.1 Neuroendoscopes

        2. 2.1.3.2 Stereotactic Systems

        3. 2.1.3.3 Aneurysm Clips

        4. 2.1.3.4 Other Neurosurgery Devices

      4. 2.1.4 Neurostimulation Devices

        1. 2.1.4.1 Spinal Cord Stimulation Devices

        2. 2.1.4.2 Deep Brain Stimulation Devices

        3. 2.1.4.3 Sacral Nerve Stimulation Devices

        4. 2.1.4.4 Other Neurostimulation Devices

      5. 2.1.5 Other Types of Devices

Mexico Neurology Devices Market Size FAQs

The Mexico Neurology Devices Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)

Abbott Laboratories, Boston Scientific Corporation, Stryker Corporation, Medtronic PLC and B. Braun SE are the major companies operating in the Mexico Neurology Devices Market.

Mexico Neurology Devices Market Report Snapshots

Mexico Neurology Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)