According to the Tijuana Economic Development Council (EDC), Tijuana, Mexico has seen an annual growth in employment of 8.7% since 2004, partly due to the growth of medical device manufacturing in Mexico. This growth comes at a time where Mexico’s economy is simultaneously pushing to become the world’s seventh largest economy within the next five years.
That’s great news for investors.
Currently, Mexico exports most of its medical products to the United States and Latin America. According to Manufacturing in Mexico News, Mexico is currently the world’s fifth-largest medical device exporter. ProMed ranks it as the 11th highest. It is steadily climbing the ranks and ready to overtake India and China — countries that have nearly 10 times the populace of the Central American country.
This is in large part to the variety of products Mexico produces. Some of them include, x-ray film marking systems, electronic thermometers, wheelchairs, hemodialysis components, urinary catheters, infusion pumps, surgical kits and equipment, IV administration sets, stents, lenses, pacemakers, nebulizers, oximeters and orthopedic braces.
American companies located in Oregon and Massachusetts are in the process of packing up and relocating to Mexico to open processing and manufacturing plants within the medical device field. Beaverton, Oregon is reporting nearly 200 jobs will switch from the United States to south of the border by the end of 2015.
However, some investors and parties interested in the medical device manufacturing industry are worried about the safety and stability of the plants.
Mexico faces a public relations problem more than it does a crime and safety problem. Mexico has areas of safety and concern, however, there are many places where crime rates are low. The plants in Tijuana and other locations are built in secure parts of Mexico and they are professionally and securely guarded. The same goes for business corruption and potential political issues.
In fact, when Adam Prime, the CEO of one of the medical device manufacturers in Mexico, visits his Tijuana plant, he stays in Tijuana instead of staying in San Diego.
The devices being produced are rated among the best in the world. Mexico is dedicated to investing in its future. It provides funding to many of the universities within the country and produces scientists and engineers that graduate and compete with many of the world’s best. Furthermore, most of the manufacturers already comply with the standards set by U.S. and Mexico regulatory agencies.
Although the news of medical device manufacturing in Mexico might feel surprising to many, the truth is that Mexico’s the future for it and the world is just starting to catch on. Contact us today for more information on Tijuana Manufacturing.