Health Care and Life Science sector in Mexico
Business Monitor International (BMI), states healthcare spending in Mexico is expected to rise from US$70.24bn in 2011 to US$101.03bn by 2016. This will make it the second most important market in Latin America.
Health provision has been a high priority for the Mexican government. Mexico’s epidemiologic profile – including cancer, obesity, cardiopathies and diabetes, demands greater use of medical devices and diagnostics.
Diabetes has been one of the leading causes of death and disability in Mexico. Patients use a large number of disposable needles for insulin injections and wound care products to treat diabetic ulcers. Innovative drug makers are investing in developing technology that will allow insulin to be delivered by other means.
Medical devices are expected to rise in value from US$4.19bn in 2011 to US$7.66bn by 2016, at annual growth rate of 12.8%.
The key driver of growth will be the expansion of access to services. About 80% of the population has some form of health coverage, and it is expected to reach a 100% of Mexicans to be covered by one of the main health public institutions in the country
Investment and supply of pharmaceuticals
According to BMI the value of the total pharmaceutical market in Mexico reached US$12.99bn in 2011. This is a growth of 5.6%. This has been mostly driven by an ageing population and the increasing incidence of chronic diseases.
In the next five years more than 5,000 patents of pharmaceutical products will expire representing an opportunity for big companies to develop the formula as a generic product.
Training in Geriatrics
Recent continual population growth has presented new health challenges for the Mexican Ministry of Health. According to an official census, in 2010 there were 10.5 million people over 60 years of age; by 2020 this figure will increase to 15 million, and by 2050 the number will rise to 36 million people over 60.
PPPs (Public Private Partnerships), including training in PPP hospital management
As part of the government’s strategy to decentralise high specialisation health services, the Ministry of Health has issued a “master plan for health”. The first high speciality hospital built under the PPPs scheme started operations in March 2007. The UK is held in very high regard as a centre of excellence for PPP consultancy.
Consultancy in institutional reform, quality assessment and management, patient safety and medical ITs
Since the National Strategy includes areas such as processing homologation, accessibility, efficiency, efficacy, quality guaranty, and patients’ security. There is a lot of space for British guidance in these areas including technical, live support and intelligence.
Getting into the market
To export successfully to Mexico, you will probably need to employ an agent or a distributor. An agent is a company’s direct representative in a market and is paid commission. A distributor sells products to customers after buying them from the manufacturer – their income comes from the margin they can make on resale.
Market intelligence is critical when doing business overseas, and UKTI can provide bespoke market research and support during overseas visits though our chargeable Overseas Market Introduction Service (OMIS).
To commission research or for general advice about the market, get in touch with our specialists in country – or contact your local international trade team.
Marcela Lopez, British Embassy Mexico. Tel. +52 55 1670 3243 or email: firstname.lastname@example.org.
Paola Jimenez, British Embassy Mexico. Tel. +52 55 1670 3241 or email: email@example.com
UKTI runs a range of events for exporters, including seminars in the UK, trade missions to overseas markets and support for attendance at overseas trade shows.
Website address: http://www.expomed.com.mx
Explo Diclab 2012
Website address: http://www.expodiclab.com
Medical Fair Mexico 2012
Expo Salud y Bienestar
Website address: http://www.amicdental.com.mx/