Mexico Cancer Immunotherapy Market Analysis

Mexico Cancer Immunotherapy Market Analysis


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Mexico's cancer immunotherapy market is expected to witness growth from $1.68 Bn in 2022 to $2.97 Bn in 2030 with a CAGR of 7.3% for the forecasted year 2022-30. The rising prevalence of cancer in Mexico and the increased government funding to support immunotherapy in Mexico are driving the growth of the market. The Mexico cancer immunotherapy market is segmented by type, application, and end user. Monticello Drug, Zoetis, and Bristol-Myers Squibb are the major players in the Mexico cancer immunotherapy market.

ID: IN10MXPH032 CATEGORY: Pharmaceuticals GEOGRAPHY: Mexico AUTHOR: Dr. Parul Choudhary

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Mexico Cancer Immunotherapy Market Executive Analysis

Mexico's cancer immunotherapy market is expected to witness growth from $1.68 Bn in 2022 to $2.97 Bn in 2030 with a CAGR of 7.3% for the forecasted year 2022-30. The overall expenditures for New Mexico in fiscal year (FY) 2022, including general funds, additional state sources, bonds, and federal funds, were $23.2 Bn, according to the National Association of State Budget Officers (NASBO). Public welfare ($3,488) and elementary and secondary education ($1,955) were New Mexico's two highest per-person spending categories. The majority of Medicaid funding is classified by the Census Bureau as part of public welfare, but some of it is also given to public hospitals. Although useful for comparing states, per capita spending is an incomplete measure because it doesn't take into account a state's demographics, political choices, administrative processes, or resident preferences.

Breast cancer, which claimed close to 8000 lives in Mexico in 2020, was the most lethal type of cancer. Prostate cancer was next, accounting for 7.46 thousand fatalities in that year. In the meantime, Mexico's top cancer hospital was Instituto Nacional de Cancerologa.

In Mexico, the area of cancer immunotherapy is still in its infancy, but both the public and private sectors are showing increasing interest and investment in it. Immunotherapy, which has shown promising results in treating some cancer types, works by using the patient's immune system to identify and target cancer cells. Immune checkpoint inhibitors, which act by inhibiting proteins on the surface of cancer cells that prevent the immune system from attacking them, are one of the most frequently utilized types of cancer immunotherapy in Mexico. CAR T-cell treatment, which modifies a patient's T cells to target cancer cells, and cancer vaccines, which compel the immune system to identify and combat cancer cells, are two more types of cancer immunotherapy. With domestic and foreign pharmaceutical companies investing in research and development, there are an increasing number of clinical studies in Mexico that are dedicated to cancer immunotherapy. The development and commercialization of cancer immunotherapy therapies have also received support from the Mexican government, with regulatory organizations expediting the approval procedure for new cancer medications.

Mexico Cancer Immunotherapy Market Analysis

Market Dynamics

Market Growth Drivers

Personalized treatment, which includes cancer immunotherapy, is gaining popularity in Mexico. Cancer immunotherapy is a viable treatment option for patients who are looking for individualized care. The development and commercialization of cancer immunotherapy therapies have received backing from the Mexican government, which has aided in the Mexico cancer immunotherapy market's expansion. For instance, the COFEPRIS regulatory body in Mexico has sped up the introduction of novel cancer medicines to the market by streamlining the approval procedure for new cancer drugs. Pharmaceutical companies are making significant investments in the study and creation of novel cancer immunotherapy therapies, which are fostering innovation and fostering market expansion. Additionally, Mexico is growing in popularity as a site for clinical trials, which is hastening the creation of brand-new treatments.

Market Restraints

The high cost of cancer immunotherapy therapies may make them out of reach for many patients in Mexico. For both patients and healthcare providers, the high cost of treatment presents a significant problem and may be a growth inhibitor for the industry. For many patients, the cost of cancer immunotherapy treatments may be prohibitive in Mexico due to the country's restricted insurance possibilities. For pharmaceutical companies trying to promote their goods in Mexico, this is a significant obstacle. Established cancer therapies like chemotherapy and radiation therapy, which are still popular in Mexico, compete with cancer immunotherapy treatments. The Mexico cancer immunotherapy market potential may be constrained by the fact that these therapies are frequently less priced and may be viewed as more effective by some patients and healthcare professionals.

Competitive Landscape

Key Players

  • Farmaceutica Maypo (MEX)
  • Siegfried Rhein (MEX)
  • Senosiain Laboratories (MEX)
  • Munticello Drug (MEX)
  • Zoetis (MEX)
  • Bristol-Myers Squibb
  • Novartis
  • Celgene
  • Amgen
  • Merck
  • Janssen
  • Seattle Genetics
  • Printegra

Notable Deals

November 2022- The Immunotherapy Institute introduces a CAR T-Cell protocol for the treatment of colon cancer in Mexico, enabling patients from other countries to benefit from the cutting-edge cancer immunotherapy treatment that is revolutionizing healthcare worldwide. A powerful non-toxic form of colon cancer treatment is now available to patients thanks to a successful CAR T-cell immunotherapy regimen that was implemented by a cancer facility in Mexico.

Healthcare Policies and Regulatory Landscape

The majority of cancer treatment in Mexico, including cancer medications, is provided by the public sector. The formal sector (workers and their families), comprises five distinct social health insurance (SHI) institutions, which each have its own separate facilities and managerial styles, to provide health coverage and care. The primary SHI provider is the Mexican Social Security Institute (IMSS), which covers 46% of the people who work for private firms. State employees, who make up about 10% of the population, are covered by the Institute for Social Security and Services for State Workers (ISSSTE). According to their respective rules, regulations, and drug formularies, these institutions provide coverage for cancer treatment. The Ministry of Health (MoH) institutions offer healthcare to people without SHI (approximately 42%); each facility has its own regulations and management style. Most members of this demographic are covered by the People's Health Insurance (Seguro Popular de Salud, SPS), public insurance that pays for medical facilities according to a list of interventions. SPS covers all pediatric cancer kinds as well as some of the most common adult cancer types while adhering to its own set of rules and procedures. The SPS's list of drugs that are covered is listed in its catalogue of interventions, which is likewise based on the national formulary, and is used by the MoH facilities.

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

Cancer Immunotherapy Segmentation

By Type (Revenue, USD Billion):

  • Monoclonal Antibodies
  • Cancer Vaccines
  • Checkpoint Inhibitors
  • Immunomodulators
  • PD-1/PD-L1
  • CTLA-4

By Application (Revenue, USD Billion):

  • Lung Cancer
  • Breast Cancer
  • Head and Neck Cancer
  • Prostate Cancer
  • Colorectal Cancer
  • Melanoma
  • Others

By End User (Revenue, USD Billion):

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers (ASCs)
  • Cancer Research Centers

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”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

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.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

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.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

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
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Monticello Drug, Zoetis, and Bristol-Myers Squibb are the major players in the Mexico cancer immunotherapy market.

The Mexico cancer immunotherapy market is expected to grow from $1.68 Bn in 2022 to $2.97 Bn in 2030 with a CAGR of 7.3% for the forecasted year 2022-2030.

The Mexico cancer immunotherapy market is segmented by type, application, and end user.


This report addresses

  • Intelligent insights to take informed business decisions
  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
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Last updated on: 19 December 2023
Updated by: Dhruv Joshi

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