Mexico Anemia Therapeutics Market Analysis

Mexico Anemia Therapeutics Market Analysis Executive Summary

The Mexico Anemia Therapeutics Market is anticipated to experience a growth from $222 Mn in 2022 to $454 Mn by 2030, with a CAGR of 9.35% during the forecast period of 2022-2030.

Anemia is a disorder marked by a reduction in the amount of red blood cells or hemoglobin in the blood, resulting in weariness, weakness, and pallor. It is classified into numerous kinds, including iron deficiency, vitamin B12 or B9 deficiency, chronic inflammatory illness, chronic renal disease, and autoimmune hemolytic anemia. Iron deficiency anemia is the most prevalent kind of anemia worldwide, affecting all ages, including newborns, teenagers, and pregnant women. Iron deficiency anemia is treated with dietary guidelines as well as oral and intravenous iron supplementation. Vitamin B12 or B9 deficiency anemia can be treated with iron or vitamin supplements; in severe instances, an infusion may be required. Chronic inflammatory disease anemia, chronic renal disease anemia, and autoimmune hemolytic anemia all require therapy for the underlying ailment to alleviate symptoms. Sickle cell anemia and thalassemia, two kinds of hereditary anemias, have no known treatments. Iron-rich foods, on the other hand, can help avoid iron deficiency anemia, just as a well-balanced diet can.

Anemia is a major public health problem in Mexico, affecting people of all ages. Approximately 23% of the Mexican population is thought to be anemic. Anemia affects around 23.3% of children under the age of five, with greater prevalence in low-income and rural regions. In addition, around 14.1% of women have anemia, which is frequently associated with iron deficiency and menstruation. The market drivers for the Mexico Anemia Therapeutics Market include factors like increased awareness and early intervention driven by the risks of untreated anemia, the exploration of newer and more effective treatment options by pharmaceutical firms globally, and the impact of socio-economic factors contributing to a higher prevalence of anemia.

Abbott has the biggest total market share, which is mostly driven by its ESA products. Other global corporations, such as Roche and Johnson & Johnson, are also prominent and well-known players in Mexico. Biosan dominates the local market, specializing in iron supplements and crucial anemia therapy.

Market Dynamics

Market Growth Drivers

Early Diagnosis and Treatment: Awareness of the risks of untreated anemia highlights the need for early intervention. This drives healthcare practitioners to actively screen for anemia and commence appropriate therapy, resulting in increased demand for diagnostics and medicines.

Newer Treatment Options: Pharmaceutical firms in the country and globally are exploring new and better treatments for anemia, including newer ESAs, gene therapies, and targeted oral drugs. These novel medicines provide improved efficacy, convenience, and fewer side effects, piqueing the curiosity of both patients and physicians. The availability of multiple treatment options increases the market potential for various forms of anemia.

Socio-economic Factors: Poverty limits access to iron-rich foods such as red meat, lentils, and leafy greens, leading to iron deficiency, a common cause of anemia in Mexico. Inadequate sanitation raises the likelihood of parasitic illnesses such as hookworm, which exacerbates iron shortages and contributes to anemia. People from low socioeconomic backgrounds sometimes lack access to healthcare services, limiting early detection of anemia and adequate treatment.

Market Restraints

Low Purchasing Power: A considerable proportion of the Mexican population lives in poverty, resulting in limited access to insurance coverage. Patients with price sensitivity and limited healthcare budgets frequently prefer less expensive alternatives, even if they are less effective. Public healthcare programs may not completely cover sophisticated or expensive treatments, leaving patients with financial obligations.

Healthcare System Deficiencies: Healthcare resources are unevenly distributed, limiting access to effective diagnosis and treatment in rural regions. A shortage of healthcare specialists, such as hematologists and dietitians who specialize in anemia management, might cause delays in access to care. Overcrowded hospitals and a shortage of beds might cause vulnerable people to wait longer for diagnosis and treatment.

Strong competing brands: Established international firms such as Abbott, Roche, and Johnson & Johnson have a considerable market share, as do well-known brands such as Eprex, Erythropoietin, and Procrit. Generic iron supplements and other low-cost medicine solutions from local manufacturers provide stiff competition for price-conscious individuals. New entrants and markey players may have to focus on innovative or novel therapeutic options.

Healthcare Policies and Regulatory Landscape

Healthcare policies in Mexico have a significant impact on the country's medical environment, with an emphasis on accessibility, cost, and treatment quality. The Secretariat of Health oversees healthcare policy and ensures access to services for all citizens. Furthermore, the Federal Commission for Protection against Sanitary Risk (COFEPRIS), the drug regulatory authority, plays an important role in public health by regulating and overseeing pharmaceutical items. COFEPRIS evaluates medicine safety, effectiveness, and quality before granting market authorizations and overseeing post-marketing surveillance. The agency's severe monitoring strives to maintain the pharmaceutical market's integrity, protect patients, and contribute to the overall success of Mexican healthcare programs.

Competitive Landscape

Key Players:

• Abbott
• Amgen
• Johnson & Johnson
• Roche
• Pfizer
• Biosan
• Solfarma
• Liomont Laboratories
• Pisa Laboratories
• Genomma Lab International