Mexico Pharmaceuticals and Healthcare Report Q4 2008
Business Monitor International, October 2008, Pages: 76
Mexico Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Mexico's pharmaceuticals and healthcare industry.
Mexico’s drug market was valued at MXN132.2bn (US$12.1bn) in 2007. While the market is second to Brazil in its overall size, other factors such as a regionally high per capita drug spend (US$114 in 2007), a free pharmaceutical pricing environment and strong trade ties with the US, make it one of the top prospects for drugmakers.
BMI expects growth to average 7.5% year-on-year (y-o-y) over the forecast period (2008-2012) in local currency. Growth should average 11% in US dollar terms over the same period, demonstrating the belief that there should be mild appreciation of the peso against the US dollar over the next five years. By the end of 2012, the expectations are that the drug market to be worth MXN190.2bn (US$20.4bn).
In the past, the requirement for drugmakers to operate a local manufacturing plant in order to market pharmaceuticals in Mexico had deterred some mid sized foreign pharmaceutical companies, especially those in the generics segment, from entering the market. However, the imminent abolition of the rule, highlighted by President Felipe Calderón’s pledge at the AIDS 2008 conference in August 2008, should dramatically cut the barriers to entry for foreign drugmakers.
The abolition of the rule has been predictably condemned by local manufacturers, with Mexico’s pharmaceutical association, AFM, stating that the decision could have ‘unforeseeable negative consequences’. However, it has been welcomed by NGOs, which believe that greater competition from importers should help to lower drug prices in the country, which are generally considered high by regional standards.
Foreign drugmakers have invested heavily in Mexican production facilities over the past decade. While the end of the local plant requirement will reduce the regulatory need for such investment, beliefs other factors – not least the rapidly growing local market and Mexico’s potential as a low cost outsourcing solution for US pharmaceutical companies, thanks to the North American Free Trade Agreement (NAFTA) – will sustain the strength of the local industry.
In the updated Business Environment Ratings for Q408, Mexico remains in fourth position out of 10 Americas markets surveyed. Its score of 62 places it behind only the developed states of the US and Canada and US-aligned Puerto Rico.
Executive Summary
Mexico Pharmaceuticals And Healthcare Industry SWOT
Mexico Political SWOT
Mexico Economic SWOT
Mexico Business Environment SWOT
Pharmaceutical Business Environment Ratings
Table: Americas Pharmaceutical Business Environment Rankings
Limits Of Potential Returns
Risks To Realisation Of Returns
Mexico – Market Summary
Regulatory Regime
Intellectual Property Environment
Table: Mexican Marketing Applications In Alleged Violation Of Patent Rights
Counterfeit Drugs
Pricing And Reimbursement Issues
Other Regulatory Developments
Industry Developments
Epidemiology
Top Ten Causes Of Death In Mexico, 2002
Healthcare Sector
Pharmaceutical Sector
Table: HGSMEs in Latin American Emerging Economies: Technological Environment Ranking
Generics Sector
Multinational Activity
Recent Pharmaceutical Company Activity
Research And Development Sector
Table: Clinical Studies In Mexico By Therapeutic Area, 2004
Industry Forecast Scenario
Overall Market Forecast
Table: Drug Market Trends, 2006-2012
Key Growth Factors – Industry
Table: Health Expenditure Indicators, 2005-2012
Key Growth Factors – Macroeconomic
Table: Mexico – Economic Activity
Prescription Market Forecast
Table: Prescription Market, 2006-2012 (US$mn unless otherwise stated)
OTC Market Forecast
Table: OTC Market, 2006-2012
Generics Market Forecast
Table: Generic Market, 2006-2012
Table: Patented Market, 2006-2012
Medical Device Market Forecast
Table: Mexico’s Medical Devices, 2006-2012 (US$mn unless otherwise stated)
Pharmaceutical Export/Import Forecasts
Table: Pharmaceutical Trade Indicators, 2006-2012 (US$mn)
Other Healthcare Data
Table: Healthcare Sector Data And Forecasts, 2006-2012
Key Risks To BMI’s Forecast Scenario
Company Monitor
Leading Foreign Companies
Pfizer
GlaxoSmithKline (GSK)
Sanofi-Aventis
Eli Lilly
Bristol-Myers Squibb (BMS)
Novartis Farmacéutica
Bayer
Boehringer Ingelheim Promeco
Merck KGaA
Roche
Indigenous Manufacturer Profile
Liomont
Strides Latina (Solara)
BMI Forecast Modelling
How We Generate Our Pharmaceutical Industry Forecasts
Pharmaceutical Business Environment Ratings Methodology
Ratings Overview
Table: Pharmaceutical Business Environment Indicators
Weighting
Table: Weighting Of Components
Sources
- Pfizer
- GlaxoSmithKline (GSK)
- Sanofi-Aventis
- Eli Lilly
- Bristol-Myers Squibb (BMS)
- Novartis Farmacéutica
- Bayer
- Boehringer Ingelheim Promeco
- Merck KGaA
- Roche
- Liomont
- Strides Latina (Solara)
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