Mexico is the best medical device manufacturing hub

 01-Oct-15, Global Health Intelligence 

According to CPI, Mexico is the best medical device manufacturing hub among Mexico, Costa Rica and China. Tijuana-Baja California region of Mexico is a special resource of labor, proximity and cost savings for a medical device manufacturer. Mexico stands second among Latin American medical device manufacturers and fifth among global manufacturers.

Mexican medical device market is estimated to grow at a CAGR of 13.4% and it will reach USD 6.9 billion from USD 3.9 billion over 2013-2018.

Image: Global Health Intelligence

According to the Analytical measures of CPI regarding cost of labor, real estate, construction and currency exchange, Mexico is less expensive than China and Costa Rica.

When Mexican workforce’s cultural and cost advantages were compared with its Chinese, the US, and Latin American counterparts, it was found that manufacturing labor costs in Mexico are 14.6% lower than in China, and the number of engineers graduated annually in Mexico is greater than the U.S. 

 Read the full article 

 Insights