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London, United Kingdom, 2007/08/10 - Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report which estimates that Mexico will use its geographical position to advantage and see robust growth in the pharmaceutical market.
Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report which estimates that Mexico will use its geographical position to advantage and see robust growth in the pharmaceutical market.
“The Pharmaceutical Market: Mexico” estimates that Mexico’s pharmaceutical market will be valued at $14.1 billion at the end of this year.
Mexico is the largest pharmaceutical market in Latin America, and the tenth largest in the world. Both international and domestic drug producers vie with each other to increase exports in the Europe and the U.S., and Mexico benefits from being ideally suited geographically to supply well-established markets like the U.S and Canada as well as growing Latin American Pharmaceutical markets.
Mexico’s drug prices have been amongst the highest in the world. The report documents socio-political changes that have come into effect with Calderón’s government signing an agreement with the pharmaceutical industry in February 2007 in order to lower the prices, especially in the public sector.
Authors of the report outline the dominant players and factors affecting drug distribution. They touch on traditionally broken up retail sector where Farmacias Guadalajara and Farmacias Benavides lead the pack. Close on their heels is the chain Farmacias Similares, which is increasing its market share by selling generics and copycats drugs, they say.
In addition, analysts bring to light how drug counterfeiting has been a long-standing problem in Mexico, with approximately 10% of private sector drugs being fakes. Mexico City, Guadalajara, Monterrey and border cities like Tijuana have seen high incidence of illegal drugs.
The report takes into account reform of Article 376 of the General Health Law in February 2005, which mandated that product registrations are granted for five-year periods only while making market predictions.
This is a value-for-money, comprehensive report which includes three free quarterly outlook updates on Mexico’s pharmaceutical markets. It identifies the key drivers in the market and contains five year market projections based on material obtained from primary sources.
“The Pharmaceutical Market: Mexico”is available from Report Buyer. For more information, please visit the website.
Report Buyer product ID: ESP00242
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