Mexico is a country that “stands in the healthcare industry worldwide for its human resources, competitive costs, quality and market”, says a document ProMéxico, the government agency responsible for strengthening the Mexican participation in the global economy.
Life Sciences are a strategic sector for economic development in North America and in the case of Mexico, exports of this sector amounted to nearly 7 billion dollars in 2008. The following are some facts that show the importance of Mexican exports of medical equipment.
- Mexico was the 11th world exporter of medical equipment in 2008. Mexican exports of medical devices reached 4.843 million dollars and the main destinations of these goods were the United States, Netherlands and France.
- In the field of medical instruments and devices, Mexico was the leading supplier in the U.S. and the 6th largest exporter worldwide, totaling 3.912 million dollars.
- Mexico is the leading exporter of pharmaceutical products in Latin America, with a total foreign sales of 1 thousand 306 million dollars.
Also food technologies represent an area of opportunity within the Life Sciences, because the demand for food in Mexico has not stopped growing and is an industry that supplies both the domestic market and to export.
According to Just-Food —the leading website about the global food industry (www.just-food.com)— “The fact that market growth is getting stronger reinforces the huge potential in the Mexican food market for both domestic and foreign investors.” Other important figures published by Just-Food are:
- Mexican food market will have a compound annual growth rate (CAGR) of 7.5% between 2008 and 2013.
- It is expected that by 2013 the packaged food market in Mexico may have an approximate value of 90 billion dollars.
FUMEC works to promote innovation and competitiveness in the areas of Life Science that may have more economic impact for the North American region.