While everyone was fixated on the economic potential of Brazil, Russia, India, and China over the past few years—thanks, at least in part, to the catchy BRICs acronym—a funny thing was happening south of the U.S. border that largely escaped the media limelight. Since 1994, Mexico has registered the best macroeconomic record of any emerging market, according to Entrada Group, a U.S.-based company that helps manufacturers invest in Mexico. Moreover, its economy is on track to become the world's seventh largest by 2020. Medical manufacturing is playing a role in this economic shift, with Baja California, in particular, emerging as a medtech hub.
The proverbial man on the street may associate Mexico with sunny, Margarita-soaked vacations and, more recently, narco-terrorism. People not versed in business and market trends invariably are surprised to learn that it is the fifth largest exporter of medical products in the world, according to Manufacturing in Mexico News. The vast majority of those products go to countries in Latin America and the United States. While medical manufacturing OEMs and their associated suppliers can be found in various regions of Mexico, Baja California and, specifically, Tijuana, have emerged as the country's medical technology hub.