Mexico Cholesterol Therapeutics Market Analysis

Mexico Cholesterol Therapeutics Market Analysis Executive Summary

The Mexico Cholesterol Therapeutics Market is anticipated to experience a growth from $365 Mn in 2022 to $456 Mn by 2030, with a CAGR of 2.85% during the forecast period of 2022-2030.

Cholesterol is the most common type of sterol in all higher animals, and it may be found in biological tissues such as the brain and spinal cord as well as animal fats and oils. All animal cells manufacture cholesterol, which is an important structural component of their membranes. High cholesterol levels, particularly low-density lipoprotein (LDL) cholesterol, pose substantial health risks. Excess LDL cholesterol can accumulate in the arteries, forming plaques that constrict and clog blood vessels, leading to atherosclerosis and an increased risk of heart disease and stroke. Furthermore, because high cholesterol has no symptoms, it often remains untreated, making frequent cholesterol tests vital for early detection. Adopting a heart-healthy diet, exercising regularly, and maintaining a healthy weight are all beneficial lifestyle modifications for cholesterol management. When lifestyle changes are insufficient, statins, fibrates, or bile acid sequestrants may be used to lower cholesterol levels. To reduce the risk of cardiovascular disease linked with high cholesterol, an effective treatment plan must include both lifestyle factors and, if necessary, pharmaceutical interventions.

Hypercholesterolemia is more common in certain regions of Mexico than in others. Approximately 14.8 Mn Mexican people suffer from hypercholesterolemia. Obesity and its lifestyle-related variables are linked to the prevalence of CVD risk factors such as hypercholesterolemia, hypertriglyceridemia, and hypoalphalipoproteinemia. These four CVD risk factors are the most common in Mexico.

The key drivers of this market include the rising incidence of cardiovascular diseases, heightened awareness and screening programs, advancements in drug development, and the associated demand for more affordable and effective cholesterol-lowering medications.

AbbVie leads the overall cardiovascular treatment market, possibly because of a greater number of drugs available in that area. Local firms have a lesser market share than international corporations due to variables such as resource constraints and global reach.

Market Dynamics

Market Growth Drivers

Rising Cardiovascular Disease Incidence: The increasing prevalence of cardiovascular diseases, fueled by factors like sedentary lifestyles, unhealthy diets, and an aging population, serves as a significant driver for the cholesterol therapeutics market. High cholesterol levels contribute to this trend.

Enhanced Awareness and Screening Initiatives: Growing awareness about the risks associated with high cholesterol and the implementation of screening programs by healthcare authorities are promoting early diagnosis and treatment. This heightened awareness is fueling demand for cholesterol-lowering medications.

Innovations in Drug Development: Ongoing research and development efforts in the pharmaceutical industry are leading to the introduction of novel and more effective cholesterol-lowering drugs. Innovations in drug formulations and mechanisms of action are contributing to the market's expansion.

Market Restraints

Challenges in Healthcare Infrastructure: The accessibility and affordability of cholesterol-lowering medications are influenced by the healthcare infrastructure in Mexico. Issues such as uneven distribution of healthcare resources and economic disparities pose challenges to market growth.

Generic Competition Impact: Patent expirations for existing cholesterol-lowering drugs may result in heightened competition from generic versions, impacting the revenue of original drug manufacturers. This dynamic introduces pricing pressures and potential reductions in profit margins.

Affordability Barriers: Economic factors and challenges related to healthcare access pose significant constraints, limiting the affordability of cholesterol therapeutics for a portion of the population. The absence of insurance coverage can particularly hinder access to treatment for certain individuals.

Healthcare Policies and Regulatory Landscape

The Secretariat of Health (Secretaría de Salud) in Mexico is the overseeing body responsible for various aspects of healthcare services, including the regulation of drugs and medical devices, and the formulation of national health policies, with the General Health Law governing the import and export of food and medical supplies. COFEPRIS (Federal Committee for Protection from Sanitary Risks), a division of the organization, manages the importation of medical devices and grants advertising permissions, regulating the entire life cycle of pharmaceuticals and health-related products to safeguard public health. Employing a comprehensive approach that includes quality control measures, post-market monitoring, and pre-market assessments, COFEPRIS evaluates new drug registration applications to ensure compliance with rigorous standards before distribution. Oversight extends to monitoring the production, distribution, and marketing practices of pharmaceutical businesses to ensure adherence to health regulations. In pursuit of improved information exchange and adherence to international standards, COFEPRIS collaborates with regulatory agencies globally, aiming to expedite access to safe and effective medications for the Mexican population through streamlined regulatory procedures.

Competitive Landscape

Key Players:

• Amgen
• Pfizer
• Merck
• AstraZeneca
• Johnson & Johnson
• Sanofi
• AbbVie
• PISA
• Sanfer
• Senosiain