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Mexico Pharmaceuticals and Healthcare Report Q1 2011
Business Monitor International, Nov 2010, Pages: 99
Mexico Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Mexico's pharmaceuticals and healthcare industry.
Mexico’s future healthcare expenditure hinges on the country’s upcoming elections, scheduled for 2012, which predictably hold the key to a number of changes in government spending decisions. The opposition Institutional Revolutionary Party, for example, has been campaigning for some months to have the estimated oil price (up from US$63 per barrel) in the government’s budget adjusted higher, in order to free up the scope for overall spending in the 2011 budget. Notwithstanding political grandstanding, however, BMI expects healthcare spending in Mexico to rise from MXN757.70bn (US$56.15bn) in 2009 to MXN1,011.72bn (US$97.52bn) by 2014, representing a CAGR of 5. 95% in local currency terms and 11.67% in US dollar terms In one of the most important developments in Mexico’s pharmaceutical industry in the latest quarter, the country’s health authority announced the implementation of regulations prohibiting sales of all antibiotics without a prescription in retail pharmacies in August 2010. The new rules are intended to reduce the health risks related to the inadequate use of antibiotics, such as increasing rates of bacterial resistance. The head of the Federal Commission of Protection Against Health Risks (COFEPRIS) said the measure will negatively affect sales of the 2,000 antibiotic products currently registered in the country.
In Mexico, around 80% of patients with respiratory tract infections present some level of bacterial resistance to first-line antibiotics, according to the National Institute of Medical Sciences and Nutrition. In view of that, the country's new regulations have been welcomed by the World Health Organisation (WHO), which recently urged countries to combat antimicrobial resistance through the implementation of national programmes to promote the rational use of medicines
A Parametria survey revealed in early August 2010 that 65% of Mexicans have bought antibiotics without prescriptions. The survey noted that 61% of the population agreed with the new prescription requirement. Although BMI expects lower sales of antibiotics in Mexico in the short term as a result of the newly introduced regulations, drugmakers will benefit from significant market growth opportunities in the long term, due to the improving access to healthcare. Penicillin is the class of antibiotics most consumed in Latin American countries, followed by macrolides, lincosamindes and streptogramins and quinolones. It is estimated that around 700mn antibiotic doses are sold in Mexico every year, equating to almost seven doses per person per year.
BMI expects the value of the total drug market in Mexico to rise from MXN112.17bn (US$8.31bn) in 2009 to MXN146.34bn (US$14.11bn) by 2014, at a compound annual growth rate (CAGR) of 11.15% in US dollar terms (5.46% in local currency). Thereafter, the CAGR will slow to 9.8% in US dollar until 2019, giving a final market value of MXN222.23bn (US$21.17bn). Per-capita spending on medicines will be US$125.7 in 2014, up from US$77.4 in 2009.
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