Mexico Age-Related Macular Degeneration Therapeutics Market Analysis

Mexico Age-Related Macular Degeneration Therapeutics Market Analysis: Executive Summary

The Mexico Age-Related Macular Degeneration (AMD) Therapeutics Market is at around US $162 Mn in 2022 and is projected to reach US $326 Mn in 2030, exhibiting a CAGR of 9.15% during the forecast period.

Age-related macular degeneration (AMD) is a progressive ocular disease predominantly affecting older adults, potentially leading to substantial visual impairment. The macula, crucial for central vision, is primarily affected, leading to difficulties with activities like reading. There are two main forms recognized, namely dry AMD (more common but slower progressing) and wet AMD (less prevalent but more severe, characterized by abnormal choroidal neovascularization). The major therapeutic options include anti-VEGF therapy, which includes the available drugs Lucentis, Vabysmo, Avastin by Genetech, and Eylea by Regeneron Pharmaceuticals; laser photocoagulation; and nutritional supplementation with zinc and copper as preventive measures.

It is estimated that the prevalence of AMD is around 4% in the older age group in Mexico, which is lower than the global average. However, the aging population susceptible to AMD is expected to reach 1.5 million by the year 2030. Thus, the prevalence is directly proportional to age. The market is therefore driven by major factors like an increase in the aging population and the subsequent increase in prevalence, technological advancements in developing new therapies, and supportive government initiatives propelling the therapeutics industry. However, disparities in the healthcare system and the high expense of therapies like gene therapy and laser surgery, which are adopted in response to demand, limit the market's potential.

The market leader in Mexico is Roche, with Lucentis earning a market share of around 40%, closely followed by Novartis for both Lucentis and a low-cost alternative, Avastin, with a share of about 25% in the market.

Market Dynamics

Market Growth Drivers

Rising burden of AMD: The increasing elderly population in Mexico is leading to a rising number of individuals susceptible to risk factors such as diet, lifestyle, and genetic predisposition resulting in AMD, with projections indicating that over 1.5 million people could be affected by 2030. The extended life expectancy also adds to the expanding pool of potential patients, contributing to the heightened demand in the market. Estimates suggest that the prevalence of AMD in Mexico is around 4%, which is less than the global average but still steadily increasing.

Government initiatives: The Mexican government is actively engaging in several public health programs to advocate for early treatment and prompt diagnosis. Initiatives such as Seguro Popular (Popular Insurance) strive to enhance healthcare coverage and offer accessibility to fundamental AMD treatments to a broader population. Increased government funding in research and development endeavours for innovative AMD therapies has the potential to additionally expand the market.

Technological advancements: Innovation in the field of AMD therapies is on the rise, and with notable advancements in minimally invasive treatment options and longer-lasting anti-VEGF drugs like Vuity, the market has become attractive to new entrants. Additionally, investment in clinical trials and local research and development fosters the market for growth. Contemporary diagnostic technologies, such as optical coherence tomography (OCT), make personalised therapy regimens and early detection possible, attracting more patients.

Market Restraints

Health system disparities: Disparities in the quality and nature of healthcare are evident across various regions of Mexico. Specialized ophthalmologists and treatment facilities are concentrated in major cities, leading to an imbalance in healthcare services and underserving rural areas. This geographical gap leads to delayed diagnoses, limited treatment options, and less favourable outcomes for patients in rural areas, restricting market growth.

High cost of treatments: The standard treatment for wet AMD, utilizing anti-VEGF injections, comes with a high cost. The price for each dose of Lucentis solution is roughly US $2000 for patients paying in cash. This places a significant financial burden on both the healthcare system and individual patients. Furthermore, Mexican healthcare insurance does not provide coverage for these expenses, creating a financial and accessibility barrier for patients.

Healthcare Policies and Regulatory Landscape

The healthcare regulatory framework is overseen by the Federal Commission for Protection against Sanitary Risk (COFEPRIS), which is in charge of monitoring and controlling health-related products. The International Council for Harmonization of Technical Requirements for Pharmaceuticals for Human Use (ICH), which integrates and simplifies international regulations and product registration processes, includes Mexico as a member.

To become licenced in Mexico, one must apply to COFEPRIS for marketing permission. Obtaining a marketing licence for a new product in Mexico typically takes 16.5 months. Companies can seek assistance from regulatory affairs specialists who are knowledgeable about local regulations and who can offer advice on laws, trends, and market authorization procedures in order to manage the complicated regulatory landscape.

It is crucial for new entrants in the Mexican market to comprehend the regulatory environment and make sure all applicable laws are being followed.

Competitive Landscape

Key Players

• F. Hoffman-La-Roche Ltd
• Regeneron Pharmaceuticals
• Novartis AG
• F. Hoffman-La-Roche Ltd
• Apellis Pharmaceuticals
• Neurotech Pharmaceuticals
• Bayer
• Pfizer Inc
• Genetech
• Kanghong Pharma
• Bausch Health Companies, Inc