Labour costs in the medical and dental instruments and supplies sector in Mexico have shown a significant upward trajectory from 2013 to 2023. Starting at 18.51 billion pesos in 2013, the cost has risen to 34.59 billion pesos by 2023. The year-on-year growth rate peaked at 13.71% in 2017 but has slowed to 3.68% by 2023. The five-year CAGR has also declined from 12.93% in 2017 to 3.65% in 2023. Forecasts for 2028 predict a continued increase, with the projected value reaching 40.37 billion pesos and a forecasted five-year CAGR of 2.43%.
Future trends to watch for:
- The potential impact of economic policies and inflation on labour costs.
- Technological advancements and their effect on efficiency and cost structures.
- Global supply chain dynamics and their influence on local cost structures.
