Pharmaceuticals
Mexico Diabetes Therapeutics Market Analysis
Mexico's diabetes therapeutics market is expected to witness growth from $2.15 Bn in 2022 to $4.61 Bn in 2030 with a CAGR of 9.95% for the forecasted year 2022-30. Increasing urbanization in Mexico along with unhealthy lifestyle choices are leading to the rising prevalence of diabetes which can be considered the main market driver. The Mexico diabetes therapeutics market is segmented by type, application, drug, route of administration, and distribution channel. Farmaceutica Maypo, Fifarma, and AstraZeneca are the major players in the Mexico diabetes therapeutics market.
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Mexico Diabetes Therapeutics Market Executive Analysis
Mexico's diabetes therapeutics market is expected to witness growth from $2.15 Bn in 2022 to $4.61 Bn in 2030 with a CAGR of 9.95% for the forecasted year 2022-30. The Legislative Finance Committee received the $393 Mn general fund budget request from the New Mexico Department of Health (DOH) for Fiscal Year (FY) 2024. The department's budget exceeds $771 M when all funding sources, including federal funds, are considered. For its several divisions, including Administrative Services, Facilities Management, Health Certification, Licensing and Oversight, Public Health, Information Technology, and Epidemiology and Response, DOH has asked for $14 Mn to hire and keep a professional workforce. To enhance the health of New Mexicans, the DOH has asked for $8 Mn to start a massive public education campaign that will highlight healthy decisions and behaviors. To address the opioid overdose trends in New Mexico, DOH has asked for $1.8 Mn from the Public Health Division to expand Medication Treatment services to more rural DOH Public Health Offices statewide. Mexico is the second-largest economy in Latin America, and it has one of the top twenty pharmaceutical markets in the world.
According to the International Diabetes Federation, the prevalence of diabetes in Mexico was close to 17% in 2021, which translates to one in six people or 14 Mn adult Mexicans having the disease. Diabetes prevalence has increased by roughly 10% in Mexico in just the last two years. Additionally, 11 Mn persons in Mexico have impaired glucose tolerance, which makes them more prone to developing type 2 diabetes.
Diabetes is managed with a variety of oral drugs, such as biguanides, sulfonylureas, meglitinides, DPP-4 inhibitors, and SGLT2 inhibitors. These drugs work to reduce the synthesis of glucose in the liver, improve insulin sensitivity, and increase insulin secretion, among other processes, to lower blood glucose levels. Injectable drugs known as GLP-1 receptor agonists imitate the effects of the hormone GLP-1, which is generated in the gut and promotes the release of insulin. These drugs aid in lowering blood sugar levels and might also encourage weight loss. For those who must take numerous prescriptions, combination formulations of some diabetes treatments may be more convenient.
Market Dynamics
Market Growth Drivers
One of the most populous cities in the developing world is Mexico City, which has rapidly urbanized over the past 30 years. Mexico City residents currently have some of the highest rates of inactivity and sedentary time in the nation. Additionally, they consume diets that are high in calories, simple sugars, and saturated fat due to the abundance of ultra-processed foods, sugar-sweetened beverages, and other food items which has resulted in an increase in the prevalence of diabetes in Mexico. With the adoption of novel treatments like SGLT2 inhibitors, insulin analogues, and GLP-1 receptor agonists, the diabetic therapeutics market in Mexico is fast changing. The market is expanding as a result of these treatments' increased efficacy and safety as compared to conventional treatments. The National Program for the Prevention and Control of Diabetes, among other initiatives, have been put into place by the Mexican government to improve diabetes care and management. These programs are increasing the Mexico diabetes therapeutics market growth and boosting the need for diabetic medicines.
Market Restraints
There are still major impediments to healthcare access in some regions of Mexico, despite the government's initiatives to improve diabetes care and management. This may restrict patients' access to diabetes treatments and prevent the expansion of the market. Many of the cutting-edge diabetic therapies that are propelling market expansion are costly, which might restrict patient access and acceptance. This may impede market expansion and reduce the pool of possible clients for these therapies. The Mexican government does pay for some diabetes treatments, but the system is restricted and can be difficult for patients to understand. This may restrict patients' access to diabetes treatments and prevent the expansion of the Mexico diabetes therapeutics market.
Competitive Landscape
Key Players
- PiSA (MEX)
- Sanfer (MEX)
- Senosiain (MEX)
- Farmaceutica Maypo (MEX)
- Fifarma (MEX)
- Astrazeneca
- Boehringer Ingelheim
- Eli Lilly
- Glaxosmithkline
- Johnson Johnson
- Merck
- Novartis
Healthcare Policies and Regulatory Landscape
The Federal Commission for Protection against Sanitary Risks, or COFEPRIS, is the body having the ability to supervise and regulate drug goods in Mexico. COFEPRIS is an acronym for Comisión Federal para la Protección contra Riesgos Sanitarios.The Pan-American Health Organization designated Mexico's national drug regulatory agency, COFEPRIS, as a national regulatory body of regional reference in 2012. COFEPRIS is one of the best-equipped organizations in Latin America. The COFEPRIS is responsible for overseeing drug products as well as food and beverage, tobacco, healthcare services, other healthcare supplies (such as medical devices, vaccines, blood and tissues, etc.), cosmetics and other consumer goods, pesticides, toxic plant nutrients, national health emergencies, occupational health, and environmental risks. The General Health Law (Ley General de Salud) (HL) and its Regulations are the main pieces of legislation that govern how pharmaceuticals, biologicals, and medical devices are authorized, priced, and reimbursed. Guidelines and Official Norms (NOMS), which are published by COFEPRIS, are an addition to these laws and regulations.
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
Diabetes Therapeutics Segmentation
By Type (Revenue, USD Billion):
- Diabetes 1
- Diabetes 2
By Application (Revenue, USD Billion):
- Preventive
- Prediabetes
- Nutrition
- Obesity
- Lifestyle Management
- Treatment/Care
- Diabetes
- Smoking Cessation
- Musculoskeletal Disorders
- Central Nervous System Disorders
- Cardiovascular Disease
- Medication Adherence
- Chronic Respiratory Disorders
- Gastrointestinal Disorders
- Rehabilitation
- Substance Use Disorders & Addiction Management
By Drug (Revenue, USD Billion):
- Oral Anti-diabetic Drugs
- Insulin
- Non-insulin Injectable Drug
- Combination Drug
By Route of Administration (Revenue, USD Billion):
- Oral
- Subcutaneous
- Intravenous
By Distribution Channel (Revenue, USD Billion):
- Online Pharmacies
- Hospital Pharmacies
- Retail Pharmacies
Insights10 will provide you with the reports within 10 key parameters which are:
- Market Overview
- Market Growth Drivers & Restraints
- Epidemiology of Disease Type
- Market Segmentation
- Market Share
- Competitive Landscape
- Key Company Profiles
- Healthcare Policies & Regulatory Framework
- Reimbursement Scenario
- Factors Driving Future Growth
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Farmaceutica Maypo, Fifarma, and AstraZeneca are the major players in the Mexico diabetes therapeutics market.
The Mexico diabetes therapeutics market is expected to grow from $2.15 Bn in 2022 to $4.61 Bn in 2030 with a CAGR of 9.95% for the forecasted year 2022-2030.
The Mexico diabetes therapeutics market is segmented by type, application, drug, route of administration, and distribution channel.
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