How much can manufacturing in Mexico save you? According to accounting firm KPMG, U.S. medical device manufacturers conserved up to 23.3% in 2011. Those savings will be even more valuable next year if the 2.3% U.S. medical device excise tax takes effect in January 2013.
Medical device manufacturers should want to keep quality and R&D up, and look for other areas to keep costs down. Our affordable Southern neighbor, Mexico, is skilled and ready to meet these and more of your medical device production needs. Mexico is the leading exporter of gloves, gauze and bandages; the third-largest exporter of tubular metal and suture needles; the fifth largest exporter of medical, surgical, dental and veterinary instruments and devices and the sixth-largest exporter of mechanotherapy, massage and related equipment, putting it on a par with major global actors in the medical device in according to the Global Trade Atlas. Last year, it produced $8,562 million in medical devices and the industry is expected to grow at an average annual rate of 6.4% between now and 2020, according to Negocios magazine, a Promexico news edition.
Mexico also has “development capacity and highly-skilled, competitive” workers. There are some 16 universities in Mexico offering degree courses in Biotechnology and Biomedical Engineering and more than nine related postgraduate courses,” the trade magazine reports.
Under our convenient contract manufacturing services, MFI assists U.S. and other outside medical device manufactures produce products for wound care, seating, therapeutic support surfaces, and other soft goods. Our manufacturing clients enjoy cost savings, a well-trained and skilled workforce, and quick and convenient turnkey service (we provide your materials, manufacturing, package and even ship to end clients).
In addition, the Mexican government, through the Federal Commission for the Protection Against Sanitary Risks, adheres to the requirements, tests and other procedures approved by the U.S. Food & Drug Administration and Health Canada.
Are you interested in learning more about medical device manufacturing in Mexico? Click here to compare your costs with Mexico’s manufacturing here.