Boston, MA -- (ReleaseWire) -- 12/24/2012 -- BMI View: The improving regulatory environment and the increasing foreign direct investment make Mexico's pharmaceutical market more attractive to multinational drugmakers. We project an increase in government healthcare spending to further boost the number of procedures and expand access to medicines in its national health insurance programme. However, the potential deceleration of the country's macroeconomic growth may dampen the country's pharmaceutical market prospects. Generic drug competition and counterfeit medicines are also key concerns for multinationals pharmaceutical companies.
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Headline Expenditure Projections
- Pharmaceuticals: MXN161.45bn (US$12.99bn) in 2011 to MXN175.82bn (US$13.47bn) in 2012; +8.9% in local currency terms and +3.7% in US dollar terms. Forecasts increase from Q412 due to macroeconomic factors. - Healthcare: MXN872.57bn (US$70.21bn) in 2011 to MXN951.98bn (US$72.95bn) in 2012; +9.1% in local currency terms and +3.9 % in US dollar terms. Forecasts increase from Q412 due to macroeconomic factors. - Medical devices: MXN52.05bn (US$4.19bn) in 2011 to MXN57.85bn (US$4.43bn) in 2012; +11.1% in local currency terms and +5.9% in US dollar terms. Forecasts increase from Q412 due to macroeconomic factors.
Risk/Reward Rating: The Pharmaceutical and Healthcare Risk/Reward Rating (RRR) in Q113 for Mexico remains the same (58.4) as in Q412. Mexico still ranks the fourth out of the 17 Americas markets surveyed in our proprietary regional RRR rating system above Brazil, indicating a more optimistic outlook for Mexican market.
Key Trends And Developments
- Mexico's national health insurance programme, Seguro Popular, was proved to be successful according to a review published in The Lancet in August 2012. Launched in 2003, the scheme was designed to tackle widespread inefficiencies and inconsistencies in the country's healthcare system, and aimed to provide health insurance coverage for the those in Mexico that were not already covered by another programme. The Seguro Popular scheme guarantees access to over 250 medical interventions, including all services provided in ambulatory clinics and general hospitals. It also covers a package of 18 expensive interventions, including treatment for cancer in children, HIV/AIDS, and cervical and breast cancer.
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