The Mexico drug delivery Market is projected to grow at a CAGR of 8.89% during the forecast period to reach US$15.494 billion by 2027, from US$8.536 billion in 2020.
Mexico is Latin America's second-largest pharmaceutical market and is ranked 12th internationally. According to Global Health PR, Mexico is expected to achieve over USD 13 billion in pharmaceutical sales by 2028, as a major manufacturer of anti-inflammatories, antibiotics, and cancer therapies, among other things. Over 128 million Mexicans are covered by the private sector and two state systems for health insurance and prescription drug coverage. Despite the fact that an estimated 90% of the population is covered by a basic set of health services, out-of-pocket payments account for just over 40% of the country's overall health spending.
Improved access to healthcare services drives the growth of the Mexican drug delivery market throughout the forecast period.
In recent years, the healthcare infrastructure in nations like Mexico has vastly improved and still has strong growth potential. The vast populations are in desperate need of specialized medicine delivery technologies. Furthermore, Mexico has been undergoing an epidemiological shift from communicable to chronic degenerative diseases, which continues to provide prospects for pharmaceutical companies. The Mexican healthcare system has transformed, with patients having better access to oncology treatments and generic pharmaceuticals becoming more widely available, all of which have boosted the country's pharmaceutical business. Implementing health reforms will present both obstacles and possibilities for Mexico's healthcare industry and pharmaceutical companies.
Consumer demand for drugs and other pharmaceutical items is skyrocketing due to an aging population and increasing prevalence of chronic diseases
According to the Mexican National Institute of Statistics and Geography (INEGI), heart disease (26 percent), COVID-19 (20 percent), diabetes (18 percent), malignant tumors (11 percent), influenza and pneumonia, liver disease, cerebrovascular disease (5 percent), homicides and accidents (4 percent), and pulmonary disease (4 percent) were the leading causes of premature death in Mexico from January to August 2020. Furthermore, according to NCBI data, Mexico will have a cancer mortality rate of 79 per 100,000 people in 2020. According to UN figures, the population of people aged 60 and up in the country is expected to quadruple from 10% in 2017 to 25% in 2050. This age group is highly susceptible to contracting serious illnesses and infections. Furthermore, due to variables such as smoking, excessive alcohol consumption, obesity, and cigarette use, the prevalence of cardiovascular diseases is at an all-time high. For the management and treatment of various disorders, injectable medication delivery systems are increasingly beneficial.
The drug delivery market faces considerable hurdles such as high development costs, the concern of injuries and infections while using, and a rigorous regulatory environment. Government agencies, patients, and insurers are putting pressure on drug makers worldwide to cut costs. R&D is becoming more expensive due to the increasing complexity of sophisticated medications for complex diseases such as cancer, among others, and investment in treatments, a factor that is contributing to the rising cost of prescription drugs. According to the Mexico Pharma Market and Regulatory Report, high pharmaceutical prices are due to ineffective coordination of regulatory and healthcare policies, as well as sluggish generic market entry.
Key Developments
The UNODC Global SMART initiative formally donated two on-site drug testing instruments to Mexico in November 2019 to enable countries in Latin America and the Caribbean better identify synthetic substances and novel psychoactive drugs. The federal government and the United Nations Office for Project Services, UNOPS, struck an agreement in mid-2020 to collaborate on overseas purchases of medications, medical supplies, and vaccinations. Pfizer invested USD 20 million in Mexico in January 2020. Clinical research, production line renovations, and medical education will all benefit from the funds.
By type, the Mexico drug delivery Market can be segmented into oral, pulmonary, injectable, nasal, topical, ocular, and others. The topical drug delivery segment is expected to grow at a faster rate. The oral drug delivery segment is also expected to grow significantly owing to the convenience and preference of the consumer as well as ease in manufacturing.
By application, the Mexico drug delivery Market can be segmented into cancer, cardiovascular diseases, diabetes, respiratory diseases, autoimmune diseases, and others. The cancer segment has a significant market share.
By end-users, the Mexico drug delivery Market can be segmented into hospitals, ambulatory surgical centers, home care settings, diagnostic centers, and others. The hospitals and homecare segments are expected to rise significantly in the projected period.
COVID-19 Insights
The COVID-19 epidemic has left unimaginable repercussions in various sectors across the world. At the same time, the public health system in Mexico, which had already been hit by government austerity measures, will be further impacted by the COVID-19 pandemic's long-term effects on the Mexican economy and public health budgets. The country's priorities have evolved as a result of the COVID-19 outbreak. The development of COVID-19-related treatments and medications with public health implications is currently a top priority. On the other hand, demand for drugs has risen due to COVID-19 expansion and rising panic. The pharmaceutical drug delivery industry is predicted to increase faster as a result of this. The pandemic has resulted in a considerable increase in the healthcare sector, which has had a significant impact on the pharmaceutical drug industry.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market size value in 2020 | US$8.536 billion |
| Market size value in 2027 | US$15.494 billion |
| Growth Rate | CAGR of 8.89% from 2020 to 2027 |
| Base year | 2020 |
| Forecast period | 2022–2027 |
| Forecast Unit (Value) | USD Billion |
| Segments covered | Type, Application, And End Users |
| Companies covered | Pfizer, GlaxoSmithKline, Roche, Bayer, Bristol-Myers Squibb, Genomma Labs, Laboratorios Limont, Perrigo, Sanofi, PiSA® Farmacéutica |
| Customization scope | Free report customization with purchase |
Key Market Segments