Mexico Neurostimulation Devices Market Size & Outlook
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Mexico neurostimulation devices market highlights
- The Mexico neurostimulation devices market generated a revenue of USD 45.0 million in 2023 and is expected to reach USD 116.2 million by 2030.
- The Mexico market is expected to grow at a CAGR of 14.5% from 2024 to 2030.
- In terms of segment, spinal cord stimulator was the largest revenue generating product in 2023.
- Sacral Nerve Stimulator is the most lucrative product segment registering the fastest growth during the forecast period.
Neurostimulation devices market data book summary
| Market revenue in 2023 | USD 45.0 million |
| Market revenue in 2030 | USD 116.2 million |
| Growth rate | 14.5% (CAGR from 2023 to 2030) |
| Largest segment | Spinal cord stimulator |
| Fastest growing segment | Sacral Nerve Stimulator |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Spinal Cord Stimulator, Deep Brain Stimulator, Sacral Nerve Stimulator, Vagus Nerve Stimulator, Gastric Electric Stimulator |
| Key market players worldwide | Medtronic PLC, LivaNova PLC, Boston Scientific Corp, St. Jude Medical, Nevro Corp |
Other key industry trends
- In terms of revenue, Mexico accounted for 0.7% of the global neurostimulation 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 neurostimulation 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 178.8 million by 2030.
Spinal cord stimulator was the largest segment with a revenue share of 47.78% in 2023. Horizon Databook has segmented the Mexico neurostimulation devices market based on spinal cord stimulator, deep brain stimulator, sacral nerve stimulator, vagus nerve stimulator, gastric electric stimulator covering the revenue growth of each sub-segment from 2018 to 2030.
According to OECD Obesity Update 2017, Mexico has the highest obesity and overweight rate in people aged 15-74 years. In addition, according to New Mexico Department of Health, in 2017, prevalence of obesity among the third graders was 19.9%.
Furthermore, prevalence of obesity among children 6-8 years old increased from 19.4% in 2013-2014 to 25.3% in 2015-2016. According to OECD, in 2017, government has spent USD 533 per capita on healthcare. Thus, increasing prevalence of obesity and increasing government health spending is expected to drive the market.
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Neurostimulation Devices Market Scope
Neurostimulation Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| LivaNova PLC | View profile | 2900 | 20 Eastbourne Terrace, London, United Kingdom, W2 6LG | https://www.livanova.com |
| St. Jude Medical | View profile | 10001+ | Saint Paul, Minnesota, United States, North America | http://www.sjm.com |
| Nevro Corp | View profile | 1215 | 1800 Bridge Parkway, Redwood City, CA, United States, 94065 | https://www.nevro.com |
| Boston Scientific Corp | View profile | 48000 | 300 Boston Scientific Way, Marlborough, MA, United States, 01752-1234 | https://www.bostonscientific.com |
| Medtronic PLC | View profile | 95000 | Lower Hatch Street, 20 On Hatch, Dublin, Ireland, 2 | https://www.medtronic.com |
Mexico neurostimulation devices market size, by product, 2018-2030 (US$M)
Mexico Neurostimulation Devices Market Outlook Share, 2023 & 2030 (US$M)
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