Rising Disease Prevalence Boosts Mexican Healthcare Industry, Finds Frost & Sullivan
- The Government's efforts to ensure universal coverage increase public healthcare expenditures
BUENOS AIRES, Argentina, March 14, 2013 /PRNewswire/ -- Unhealthy and sedentary lifestyles as well as increased consumption of manufactured food have taken a toll on the general health of Mexico's population, causing a spurt in diseases. From 2011 to 2030, the country's diabetic population is expected to increase by 2.3 percent per year, which is higher than the 2.1 percent average for the top 10 countries with the biggest population of diabetics.
New analysis from Frost & Sullivan (http://www.healthcare.frost.com), Healthcare Landscape, Outlook, and Growth Opportunities in Mexico 2011-2015, finds that the healthcare market was worth an estimated $18.15 billion in 2011 and this is expected to grow to $22.66 billion by 2015.
"Healthcare expenditure, as a percentage of the Mexican Gross Domestic Product (GDP), increased from 5.8 percent in 2008 to 13.8 percent in 2011, at a compound annual growth rate of 33.5 percent," said Frost & Sullivan Industry Analyst Federico Baguear. "This represents a huge opportunity for pharmaceutical companies to develop specific drugs for the most prominent pathologies and for their prevention."
Medical devices and mobile Health will cover the needs of the population reached by pathologies like diabetes, which allow patients to perform self-assessments evaluations through glucometers, thermometers and cardiac rhythm monitoring among others.
From 2010 and 2017, pharmaceutical patent expiries for a value of $150.0 billion will create significant opportunities for generics and biosimilars. Mexico is already the second-largest pharmaceutical market in Latin America, and ranks sixth among seven emerging countries: Brazil, India, Turkey, Mexico, Russia, South Korea, and China.
Like most countries in Latin America, the government is addressing the population's healthcare needs. Approximately 52 percent of the total population is covered by public health insurance, positioning Mexico as a leader in the region.
"Since 2009, the federal government has been focused on universal coverage and the improvement of public services to reduce out-of-pocket expenditures, which decreased from 57 percent in 2000 to 47 percent in 2011," noted Baguear. "Public investment in universal access to healthcare includes the acquisition of particular medicines to treat specific Mexican disease profiles."
The country is currently the fifth-largest exporter of medical devices in the world, and the principal provider to the U.S. market. Its competitive prices and favorable geographic location will also go a long way in making Mexico a global hub for medical tourism, and attract higher investments.
If you are interested in more information on this research, please send an email to Francesca Valente, Corporate Communications, at francesca.valente@frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state, and country.
Healthcare Landscape, Outlook, and Growth Opportunities in Mexico 2011-2015 is part of the Advanced Medical Technologies Growth Partnership Services program, which also includes research in the following areas: Western European and U.S. Cardiac Rhythm Management Devices Market, U.S. Obesity Surgery Devices Market, Understanding the Peripheral Intervention Toolkit, Mobile Health Technology, and 2012 United States Medical Devices Outlook. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Contact Us: Start the discussion
Subscribe: Newsletter on "the next big thing"
Register: Gain access to visionary innovation
Healthcare Landscape, Outlook, and Growth Opportunities in Mexico 2011-2015
NAB7-54
Contact:
Francesca Valente
Corporate Communications – Latin America
P: +54 11 4777 5300
F: +54 11 4777 5300
E: francesca.valente@frost.com
Share this article