Mexico
Latin America · Mexico City · MXN (Mexican Peso)
Economic Snapshot
Population
130+ million
World Bank / INEGI · 2024
GDP
$1.82 trillion
World Bank / IMF · 2024
GDP per Capita
~$14,000
World Bank (derived) · 2024
Healthcare Economics
Health Expenditure (% GDP)
~5.5–5.7% of GDP
World Bank Health Expenditure Database · 2022
Health Spending / Capita
Moderate relative to GDP per capita; public IMSS/ISSSTE spending and rising private expenditure both contribute
World Bank / industry reporting · 2024
Public Funding Share
IMSS (Instituto Mexicano del Seguro Social) and ISSSTE (for government workers) are the dominant public payers, alongside INSABI/IMSS-Bienestar for the uninsured population
Mexican Ministry of Health · 2024
Country Details
Region
Latin America
Capital
Mexico City
Currency
MXN (Mexican Peso)
Timezone
UTC−6 to UTC−8
Languages
Spanish
🚀 Market Opportunities
Mexico is Latin America's second-largest medical device market with a fast-growing device sector (7.6% CAGR) and, critically, IMSS as the region's largest single centralized healthcare purchaser — a single successful IMSS tender award can represent enormous volume. The new expanded COFEPRIS Equivalency Route (effective September 2025) is a significant recent development that can materially shorten time-to-market for devices already approved by FDA, EMA, Health Canada, or other recognized reference regulators, and should be a first-line strategy question for any manufacturer already active in those markets.