Mexico Patient Monitoring Market Size (2024 - 2029)

Mexico Patient Monitoring Market Analysis

The Mexico Patient Monitoring Market size is estimated at USD 1.35 billion in 2024, and is expected to reach USD 1.87 billion by 2029, growing at a CAGR of 6.77% during the forecast period (2024-2029).

• COVID-19 had a significant impact on the Mexico patient monitoring market since patients with COVID-19 used patient monitoring devices more frequently due to the need for constant monitoring. For instance, as per the article published in April 2022 in PubMed, during the pandemic, the Integral System of Hospital Management (Sistema Integral de Administración Hospitalaria (SIAH)) accurately recorded the visit and patient monitoring, with photographic evidence of each consultation offered through the remote medical advice and guidance program.
• However, as the pandemic restrictions are eased, the market is expected to witness significant growth in the coming years due to the advancement in patient monitoring, such as smart wearables, artificial intelligence-based systems, and the increase in demand for patient monitoring due to chronic conditions.
• Factors such as the increasing burden of chronic disorders and growing preference for home and remote monitoring are expected to drive market growth. For instance, as per the IDF Atlas 10th Edition 2021, the estimated number of the population diagnosed with diabetes was 14.1 million in Mexico in 2021. This count is expected to rise to 21.2 million in 2045. Hence, a rise in cases of diabetes is likely to utilize glucose monitoring devices, thereby driving the market growth. 
• Furthermore, the rise in product launches and technological advancement in patient monitoring is expected to fuel market growth. For instance, in December 2022, Huawei launched the Watch GT 3 SE with sensors for heart rate and SpO2 blood oxygen monitoring in Mexico. Similarly, in June 2021, Hoy Health opened its first international office in Guadalajara, Mexico. Hoy Health is a health tech company that is leading primary care in the digital health industry via remote patient monitoring, telehealth, and medication access.
• Hence, due to the rise in product launches and increase in chronic disease prevalence in Mexico, the Mexico patient monitoring market is expected to witness significant growth over the forecast period. However, resistance from healthcare industry professionals toward the adoption of patient monitoring systems is likely to hinder the market growth.

Mexico Patient Monitoring Industry Segmentation

As per the scope of this report, patient monitoring devices are the monitoring devices that continuously monitor the patient's vital parameters, like blood pressure and heart rate, by using a medical monitor and collecting medical (and other) data from individuals.

The Mexico patient monitoring market is segmented by type of device (hemodynamic monitoring devices, neuromonitoring devices, cardiac monitoring devices, multi-parameter monitors, respiratory monitoring devices, remote patient monitoring devices, weight management and fitness monitoring, and other types of devices), application (cardiology, neurology, respiratory, fetal and neonatal and other applications) and end-user (home healthcare, hospitals and clinics, and other end users).

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