Mexico Antifungal Drugs Market Analysis

Mexico Antifungal Drugs Market Analysis


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Mexico Antifungal Drugs Market is at around $0.2 Bn in 2023 and is projected to reach $0.3 Bn in 2030, exhibiting a CAGR of 4.05% during the forecast period. The market is being driven by innovations and developments in drugs, awareness, and education about fungal infections, and healthcare infrastructure. The market is dominated by key players like Abbott Laboratories, Merck & Co., Inc., Astellas Pharma Inc., Pfizer Inc., GlaxoSmithKline plc, Bayer AG, Novartis AG, Glenmark Pharmaceuticals Limited, Sanofi S.A., and Gilead Sciences Inc.

ID: IN10MXPH004 CATEGORY: Pharmaceuticals GEOGRAPHY: Mexico AUTHOR: Aneri Parekh

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Mexico Antifungal Drugs Market Executive Summary

Mexico Antifungal Drugs Market is at around $0.2 Bn in 2023 and is projected to reach $0.3 Bn in 2030, exhibiting a CAGR of 4.05% during the forecast period.

The development, manufacturing, and distribution of drugs used to treat fungal infections are the main areas of concentration for the Mexican Antifungal drugs market. This market includes a range of antifungal medications, as well as information on their clinical efficacy, affordability, and ability to prevent invasive fungal infections in the nation. Research on the antifungal potential of natural sources, such as marine species discovered in the Yucatan Peninsula, is also included in the market.

The market for antifungal medications in Mexico is steadily expanding as the number of fungal illnesses is rising, growing healthcare expenditures, more awareness, and improvements in medical research. Leading players are emphasizing developing novel treatment alternatives through research and development. The government's efforts to upgrade the healthcare system's infrastructure also support market growth.

In 2023, the antifungal drug market was valued at $15.8 Bn worldwide. Enhancements in treatment efficacy and availability have resulted in notable progress in antifungal therapy. The antifungal drugs industry has also seen significant investment, which has been essential to maintaining the field's trend of rapid growth. The market for antifungal drugs has a lot of potential and is distinguished by increased industrial innovation, greater production, and improved profitability.

Abbott Laboratories is a significant player in the Mexican market for antifungal medications, providing a wide range of treatments to treat different types of fungal infections. Abbott Laboratories is actively working to create novel antifungal medications, which could improve its standing in the Mexican market. To encourage the appropriate use of antifungal drugs and stop the development of antifungal resistance, the company also places a strong emphasis on patient education and awareness initiatives.

Mexico antifungal drugs market

Market Dynamics

Market Growth Drivers:

Healthcare Infrastructure: Increased access to medical services and an improved healthcare infrastructure helps in the identification and management of fungal infections which, in turn, propels the market for antifungal drugs.

Awareness and Education: Patients are more likely to demand Antifungal drugs if they are better informed about fungal infections, their symptoms, and the significance of prompt treatment. Pharmacies' and healthcare professionals' educational initiatives help to fuel industry expansion.

Innovation and Development in Drugs: New and improved Antifungal medications that are introduced as a result of research and development efforts propel the market.

Market Restraints:

Economic Factors: The nation's healthcare expenditure may be impacted by economic difficulties and changes, which may result in patients' access to antifungal medications being less affordable.

Global Supply Chain Disruptions: Disruptions in the global supply chain might affect the availability and cost of Antifungal medications. This is especially true given that the pharmaceutical industry depends on raw materials and active pharmaceutical ingredients from different parts of the world.

Resistance to Antifungal Drugs: The development of strains resistant to antifungal drugs may restrict the efficacy of current treatments, necessitating the use of more costly and advanced treatments.

Healthcare Policies and Regulatory Landscape

The Secretariat of Health in Mexico, also known as Secretaría de Salud, is the body responsible for regulating pharmaceuticals and medical devices. In Mexico, the Comisión Federal para la Protección contra Riesgos Sanitarios (COFEPRIS) collaborates with the Sanitary Authorization Commission (CAS) to supervise the sanitary registration process for pharmaceuticals. The Center for Integrated Services (Centro Integral de Servicios, CIS) is in charge of requests and technical meetings for the COFEPRIS New Molecule Committee. Accessible healthcare is a top goal for the Mexican government, which also closely controls drug costs. For costly innovative medications, this can be a major obstacle, making it challenging for companies to recuperate their original costs.

Competitive Landscape

Key Players:

  • Abbott Laboratories
  • Merck & Co., Inc.
  • Astellas Pharma Inc.
  • Pfizer Inc.
  • GlaxoSmithKline plc
  • Bayer AG
  • Novartis AG
  • Glenmark Pharmaceuticals Limited
  • Sanofi S.A.
  • Gilead Sciences Inc.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Mexico Antifungal Drugs Market Segmentation

By Drug Class

  • Azoles
  • Echinocandins
  • Polyenes
  • Allylamines
  • Others

By Drug Indication

  • Dermatophytosis
  • Aspergillosis
  • Candidiasis
  • Others

By Drug Dosage

  • Oral drugs
  • Ointments
  • Powders
  • Others

By Infection

  • Systemic Antifungal Infections
  • Superficial Antifungal Infections

By Drug Distribution

  • Hospital Pharmacies
  • Retail Pharmacies
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

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Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

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The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 28 February 2024
Updated by: Ritu Baliya

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