Mexico led exports of medical devices to the United States from January to September 2024, with shipments of 8,685 million dollars, according to data from the Department of Commerce.
Since 2022, Mexico displaced China from the first position among the main exporters of these products to the U.S. market.
The United States imported medical devices from around the world for a customs value of $42.582 billion in the first three quarters of 2024, up 8.3 percent year-over-year.
According to the Centers for Medicare and Medicaid Services (CMS), in 2022, health care spending reached $4.5 trillion in the United States, or $13,493 per person.This represented 17.3 percent of U.S. GDP.
The National Research Corporation noted that this spending will predictably grow at an average annual rate of 5.4% between 2022 and 2031, due to secular factors such as an aging population, increasing acuity, and the prevalence of chronic diseases.
The following is the trend of medical product exports from Mexico to the U.S. market from January to September 2024, in millions of dollars:
- 2019: 7,172.
- 2020: 7,009.
- 2021: 8,567.
- 2022: 9,200.
- 2023: 11,549.
- Jan-Sep 2023: 8,572.
- Jan-Sep 2024: 8,685.
Medical device exports
According to The Pennant Group, the home healthcare and hospice segment is growing within the overall U.S. healthcare landscape.
Grandview Research estimates the home health care market at approximately $142.9 billion and is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.5% between 2022 and 2030.
The palliative care industry is also estimated to be approximately $34.5 billion and is projected to grow at an estimated CAGR of 8.2% between 2022 and 2030.
The following are the top exporters of medical devices to the United States from January to September 2024, in millions of dollars:
- Mexico: 8,685 (+1.3% y-o-y).
- China: 5,471 (-3.4 percent).
- Ireland: 4,950 (-4.2 percent).
- Germany: 3,083 (+14 percent).
- Costa Rica: 2,955 (+13.7 percent).
- World: 42,582 (+8.3 percent).