Mexico Cancer Immunotherapy Market Analysis

Mexico Cancer Immunotherapy Market Executive Analysis

Mexico's cancer immunotherapy market is expected to witness growth from $1.68 Bn in 2022 to $2.97 Bn in 2030 with a CAGR of 7.3% for the forecasted year 2022-30. The overall expenditures for New Mexico in fiscal year (FY) 2022, including general funds, additional state sources, bonds, and federal funds, were $23.2 Bn, according to the National Association of State Budget Officers (NASBO). Public welfare ($3,488) and elementary and secondary education ($1,955) were New Mexico's two highest per-person spending categories. The majority of Medicaid funding is classified by the Census Bureau as part of public welfare, but some of it is also given to public hospitals. Although useful for comparing states, per capita spending is an incomplete measure because it doesn't take into account a state's demographics, political choices, administrative processes, or resident preferences.

Breast cancer, which claimed close to 8000 lives in Mexico in 2020, was the most lethal type of cancer. Prostate cancer was next, accounting for 7.46 thousand fatalities in that year. In the meantime, Mexico's top cancer hospital was Instituto Nacional de Cancerologa.

In Mexico, the area of cancer immunotherapy is still in its infancy, but both the public and private sectors are showing increasing interest and investment in it. Immunotherapy, which has shown promising results in treating some cancer types, works by using the patient's immune system to identify and target cancer cells. Immune checkpoint inhibitors, which act by inhibiting proteins on the surface of cancer cells that prevent the immune system from attacking them, are one of the most frequently utilized types of cancer immunotherapy in Mexico. CAR T-cell treatment, which modifies a patient's T cells to target cancer cells, and cancer vaccines, which compel the immune system to identify and combat cancer cells, are two more types of cancer immunotherapy. With domestic and foreign pharmaceutical companies investing in research and development, there are an increasing number of clinical studies in Mexico that are dedicated to cancer immunotherapy. The development and commercialization of cancer immunotherapy therapies have also received support from the Mexican government, with regulatory organizations expediting the approval procedure for new cancer medications.

Market Dynamics

Market Growth Drivers

Personalized treatment, which includes cancer immunotherapy, is gaining popularity in Mexico. Cancer immunotherapy is a viable treatment option for patients who are looking for individualized care. The development and commercialization of cancer immunotherapy therapies have received backing from the Mexican government, which has aided in the Mexico cancer immunotherapy market's expansion. For instance, the COFEPRIS regulatory body in Mexico has sped up the introduction of novel cancer medicines to the market by streamlining the approval procedure for new cancer drugs. Pharmaceutical companies are making significant investments in the study and creation of novel cancer immunotherapy therapies, which are fostering innovation and fostering market expansion. Additionally, Mexico is growing in popularity as a site for clinical trials, which is hastening the creation of brand-new treatments.

Market Restraints

The high cost of cancer immunotherapy therapies may make them out of reach for many patients in Mexico. For both patients and healthcare providers, the high cost of treatment presents a significant problem and may be a growth inhibitor for the industry. For many patients, the cost of cancer immunotherapy treatments may be prohibitive in Mexico due to the country's restricted insurance possibilities. For pharmaceutical companies trying to promote their goods in Mexico, this is a significant obstacle. Established cancer therapies like chemotherapy and radiation therapy, which are still popular in Mexico, compete with cancer immunotherapy treatments. The Mexico cancer immunotherapy market potential may be constrained by the fact that these therapies are frequently less priced and may be viewed as more effective by some patients and healthcare professionals.

Competitive Landscape

Key Players

• Farmaceutica Maypo (MEX)
• Siegfried Rhein (MEX)
• Senosiain Laboratories (MEX)
• Munticello Drug (MEX)
• Zoetis (MEX)
• Bristol-Myers Squibb
• Novartis
• Celgene
• Amgen
• Merck
• Janssen
• Seattle Genetics
• Printegra

Notable Deals

November 2022- The Immunotherapy Institute introduces a CAR T-Cell protocol for the treatment of colon cancer in Mexico, enabling patients from other countries to benefit from the cutting-edge cancer immunotherapy treatment that is revolutionizing healthcare worldwide. A powerful non-toxic form of colon cancer treatment is now available to patients thanks to a successful CAR T-cell immunotherapy regimen that was implemented by a cancer facility in Mexico.

Healthcare Policies and Regulatory Landscape

The majority of cancer treatment in Mexico, including cancer medications, is provided by the public sector. The formal sector (workers and their families), comprises five distinct social health insurance (SHI) institutions, which each have its own separate facilities and managerial styles, to provide health coverage and care. The primary SHI provider is the Mexican Social Security Institute (IMSS), which covers 46% of the people who work for private firms. State employees, who make up about 10% of the population, are covered by the Institute for Social Security and Services for State Workers (ISSSTE). According to their respective rules, regulations, and drug formularies, these institutions provide coverage for cancer treatment. The Ministry of Health (MoH) institutions offer healthcare to people without SHI (approximately 42%); each facility has its own regulations and management style. Most members of this demographic are covered by the People's Health Insurance (Seguro Popular de Salud, SPS), public insurance that pays for medical facilities according to a list of interventions. SPS covers all pediatric cancer kinds as well as some of the most common adult cancer types while adhering to its own set of rules and procedures. The SPS's list of drugs that are covered is listed in its catalogue of interventions, which is likewise based on the national formulary, and is used by the MoH facilities.