Mexico - Latin America Digital Patient Monitoring Devices Market Size & Outlook
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- Digital Patient Monitoring Devices Market Outlook
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Mexico digital patient monitoring devices market highlights
- The Mexico digital patient monitoring devices market generated a revenue of USD 2,176.0 million in 2023 and is expected to reach USD 10,923.1 million by 2030.
- The Mexico market is expected to grow at a CAGR of 25.9% from 2024 to 2030.
- In terms of segment, wearable devices was the largest revenue generating type in 2023.
- MHealth is the most lucrative type segment registering the fastest growth during the forecast period.
Digital patient monitoring devices market data book summary
| Market revenue in 2023 | USD 2,176.0 million |
| Market revenue in 2030 | USD 10,923.1 million |
| Growth rate | 25.9% (CAGR from 2023 to 2030) |
| Largest segment | Wearable devices |
| Fastest growing segment | MHealth |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Wireless Sensor Technology, MHealth, Telehealth, Wearable Devices, Remote Patient Monitoring |
| Key market players worldwide | GE HealthCare Technologies Inc Common Stock, AT&T, Athenahealth, Abbott Laboratories, Koninklijke Philips NV, Hill-Rom, Medtronic PLC, OMRON Corp, Fitbit, Garmin Ltd, ResMed Inc, Siren |
Other key industry trends
- In terms of revenue, Mexico accounted for 1.5% of the global digital patient monitoring devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil digital patient monitoring devices market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 21,873.6 million by 2030.
Mexico was one of the major contributors in Latin America’s market in 2020, due to the local presence of key players, supportive government regulations, and investments by international market players. For instance, according to Mexico’s new Health Accord in 2010, medical equipment approved in the U.S. or Canada can be approved on a fast-track basis in Mexico.
This can help decrease the approval and commercialization time for industry players, boosting the market in Mexico. In addition, according to the International Diabetes Federation, there are around 12 million cases of diabetes in adults as of 2020.
The prevalence of diabetes in the adult population is around 15%. Also, obesity rates are continuously growing in the country which may result in increasing demand for monitoring devices for management of diseases.
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Digital Patient Monitoring Devices Market Scope
Digital Patient Monitoring Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| GE HealthCare Technologies Inc Common Stock | View profile | 51,000 | 500 West Monroe Street, Chicago, IL, United States, 60661 | www.gehealthcare.com |
| Abbott Laboratories | View profile | 114,000 | 100 Abbott Park Road, Abbott Park, IL, United States, 60064-6400 | www.abbottinvestor.com |
| Koninklijke Philips NV | View profile | 73,712 | Philips Center, Amstelplein 2, Amsterdam, Netherlands, 1096 BC | www.philips.com |
| ResMed Inc | View profile | 10,140 | 9001 Spectrum Center Boulevard, San Diego, CA, United States, 92123 | www.resmed.com |
| Medtronic PLC | View profile | 95,000 | Lower Hatch Street, 20 On Hatch, Dublin, Ireland, 2 | www.medtronic.com |
| OMRON Corp | View profile | 28,034 | Shiokoji Horikawa, Shimogyo-ku, Kyoto, Japan, 600-8530 | www.omron.co.jp |
| Garmin Ltd | View profile | 19,900 | Muhlentalstrasse 2, Schaffhausen, Switzerland, 8200 | www.garmin.com |
| Hill-Rom | View profile | 10001+ | Chicago, Illinois, United States, North America | www.hillrom.com/ |
| Fitbit | View profile | 251-500 | San Francisco, California, United States, North America | www.fitbit.com |
| AT&T | View profile | 10001+ | Dallas, Texas, United States, North America | www.att.com |
Mexico - Latin America Digital Patient Monitoring Devices Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Digital Patient Monitoring Devices Market Outlook will help companies and investors design strategic landscapes.
Wearable Devices was the largest segment with a revenue share of 31.3% in 2023.
Horizon Databook has segmented the Mexico - Latin America digital patient monitoring devices market based on wireless sensor technology, mhealth, telehealth, wearable devices, remote patient monitoring covering the revenue growth of each sub-segment from 2018 to 2030.
Mexico was one of the major contributors in Latin America’s market in 2020, due to the local presence of key players, supportive government regulations, and investments by international market players. For instance, according to Mexico’s new Health Accord in 2010, medical equipment approved in the U.S. or Canada can be approved on a fast-track basis in Mexico.
This can help decrease the approval and commercialization time for industry players, boosting the market in Mexico. In addition, according to the International Diabetes Federation, there are around 12 million cases of diabetes in adults as of 2020.
The prevalence of diabetes in the adult population is around 15%. Also, obesity rates are continuously growing in the country which may result in increasing demand for monitoring devices for management of diseases.
- Mexico - Latin America Digital Patient Monitoring Devices Market Type Outlook (Revenue, USD Million , 2018-2030)
- Wireless Sensor Technology
- mHealth
- Telehealth
- Wearable Devices
- Remote Patient Monitoring
- Mexico - Latin America Digital Patient Monitoring Devices Market Product Outlook (Revenue, USD Million , 2018-2030)
- Diagnostic Monitoring Devices
- Therapeutic Monitoring Devices
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico - Latin America Digital Patient Monitoring Devices Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Mexico - Latin America Digital Patient Monitoring Devices Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Mexico - Latin America Digital Patient Monitoring Devices Market, 2018-2030 (US$M)
Mexico Type - Digital Patient Monitoring Devices Market Statistics, 2023 - 2030 (US$M)
