In 2022, the global Medical Devices Industry got a value of USD 495 bn., and it is projected that by 2030 its worth will be around US 720 bn.
But which country is the largest producer of medical equipment? Although the United States tops the list of countries with the largest export of medical equipment in the world, a big part of their production is carried out in other countries.
Over the last 30 years, many U.S. companies have decided to establish themselves in Tijuana, Mexico, due to the competitive costs and the quality of work. Keep reading and discover why Tijuana is and will continue to be the mecca of medical equipment manufacturing worldwide.
Medical Device Manufacturing in Tijuana
We know that the market for medical devices is quite competitive and controlled. Unsurprisingly, Tijuana has become the North American city with the highest medical device manufacturing jobs concentration due to its high standards, skilled workforce, and logistical benefits. With almost 50,000 people directly working in the field, Tijuana has the highest employment rates among all other North American locations producing medical devices.
In addition, Tijuana is part of the Binational Mega Region, which includes the San Diego and Imperial Counties in southern California and the state of Baja California, forged as a strategy to promote economic development in Mexico.
Why Mexico and Tijuana?
While numerous locations advertise themselves as potential places for businesses looking to expand internationally, no other global metropolis provides a unique combination:
- A base of 50 active medical device manufacturers
- As a next-door nearshoring destination, Tijuana has logistically rapid access to the West Coast and is surrounded by international seaports and airports
- Around 14,000 students in Tijuana are enrolled in engineering careers or technical programs related to engineering, technology, and manufacturing, forming a qualified and bilingual workforce in a business-friendly environment
- Free trade agreements like USMCA, TRIPS, and others provide strong protections for intellectual property rights
- Experience, just-in-time production skills, and competitive costs
The World’s Top Medical Device Companies
Tijuana is home to 50 significant medical device producers, including well-known international brands like Medtronic, which has had a factory there since 1970. Medtronic is at the vanguard of medical technology, employing over 90,000 individuals across 150 nations. The American firm reported revenues of $31.7 billion in 2022, an increase of 8% over the $29.4 billion reported in the previous year.
Now that you know which country is the largest producer of medical equipment, invest in the country and enjoy the benefits of setting up your business in Tijuana, Mexico.
At Tijuana EDC, we offer consulting, connection, and follow-up services to provide your company with all the requirements to settle properly in a foreign city and take advantage of the business opportunities in Mexico.
