Mexico Chronic Pain Therapeutics Market Analysis

Mexico Chronic Pain Therapeutics Market Analysis Executive Summary

The Mexico Chronic Pain Therapeutics Market is anticipated to experience a growth from $1.115 Bn in 2022 to $1.797 Bn by 2030, with a CAGR of 6.15% during the forecast period of 2022-2030.

Chronic pain is characterized by ongoing discomfort that lasts for long periods—weeks, months, or even years—often longer than expected for an injury or sickness to heal. Numerous illnesses, such as fibromyalgia, migraines, neuropathy, arthritis, and back injuries, can cause it. Chronic pain is classified according to its underlying cause. For example, nociceptive pain is caused by injury to the tissue, neuropathic pain is caused by damage to the nerves, and idiopathic pain has no apparent reason. Chronic pain treatment usually entails a thorough strategy customized to the patient's needs. This could involve using analgesics, antidepressants, or anticonvulsants in conjunction with medication management to improve mood and reduce discomfort. Exercise regimens and physical treatment are essential for increasing muscle strength and mobility, which lessens the burden on injured areas. Psychological therapies, which include mindfulness-based approaches and cognitive-behavioral therapy (CBT), are designed to help people cope better by addressing the mental and emotional elements of pain. Furthermore, to offer focused pain treatment, interventional techniques like spinal cord stimulation, nerve blocks, or injections may be considered.

An estimated 27% of Mexicans are thought to be affected by the high prevalence of chronic pain in the country. These numbers equate to about 34 Mn individuals. In Mexico, musculoskeletal disorders like arthritis and ailments affecting nerve conduction like fibromyalgia and neuropathic pain are the most prevalent causes of chronic pain.

The key drivers include the escalating risk factors associated with evolving lifestyles and occupational hazards, a shifting preference towards patient-centered care, and ongoing research and development efforts aimed at innovative therapies and precision medicine applications.

Pfizer possesses a substantial market share in Mexico thanks to well-known painkillers like Celebrex (celecoxib) and Lyrica (pregabalin). Its product offering is comprehensive, covering a range of pain problems, and its brand recognition is considerable. In Mexico, AbbVie's market share is increasing because of its specialized pain management products. Other domestic competitors emphasize the accessibility and affordability of pain medicines and enjoy strong brand recognition in the industry. They actively participate in clinical research and the creation of novel pain relief options.

Market Dynamics

Market Growth Drivers

Increasing risk factors: As lifestyles evolve and occupational structures change, Mexico is experiencing an uptick in risk factors contributing to chronic pain conditions. Sedentary behaviors, poor dietary habits, and specific occupational hazards are on the rise, leading to an increased prevalence of musculoskeletal issues and other chronic pain conditions. This escalating risk factor landscape is a pivotal driver behind the growing demand for effective pain management solutions in the country.

Changing preferences of patients: A notable shift in healthcare dynamics is the increasing emphasis on patient-centered care. Patients now actively participate in decisions regarding their treatment plans, expressing preferences for personalized approaches to pain management. The demand for treatments that consider individual needs, values, and lifestyles is growing. Some patients are displaying a preference for non-pharmacological interventions, such as physical therapy and alternative therapies, indicating a changing landscape in the types of treatments sought after.

Increase in research and development: Ongoing initiatives are aimed at uncovering innovative therapies and drugs that could revolutionize the approach to treating chronic pain. The potential emergence of precision medicine, with a focus on individualized treatments based on genetic factors and biomarkers, holds promise for improving treatment efficacy while minimizing side effects. Additionally, the exploration of alternative treatment modalities, such as medical cannabis and advanced neurostimulation techniques, showcases a commitment to diversifying and enhancing the options available for patients and healthcare providers.

Market Restraints

Cultural and Societal Factors: Cultural beliefs and societal attitudes play a pivotal role in shaping the landscape of pain management in Mexico. Traditional views on health and well-being, coupled with historical perceptions of pain, can significantly influence how patients perceive and approach chronic pain treatments.

Limited Healthcare Infrastructure: Mexico faces challenges related to healthcare infrastructure, particularly in rural and underserved areas. The scarcity of healthcare facilities and resources in these regions hampers the delivery of effective pain management services. This geographical disparity creates significant hurdles, resulting in unequal access to care. Improving healthcare infrastructure, especially in remote areas, becomes imperative to address these disparities.

Inadequate Pain Assessment and Diagnosis: The accurate assessment and diagnosis of chronic pain conditions represent a crucial starting point for effective treatment. Challenges in this process can impede timely and appropriate therapeutic interventions. A lack of standardized protocols for pain assessment introduces variability in clinical practices, potentially leading to delays in identifying and addressing chronic pain issues.

Healthcare Policies and Regulatory Landscape

COFEPRIS is the Mexican regulatory authority tasked with monitoring and ensuring that pharmaceuticals, medical devices, foodstuffs, beverages, and other health-related products are safe, of good quality, and efficacious. It operates under the Secretariat of Health and it is important in protecting public health through regulation as well as monitoring of health products in the Mexican market. Its dedication to observing international practices enables it to assess and register drugs and medical devices as well as inspect manufacturing premises while enforcing compliance with regulations. The agency liaises with both national and global organizations working on regulatory science issues. COFEPRIS also strives for efficient regulation so that innovative healthcare goods can be accessed quickly but safely. In addition, the authority plays a significant role in building public confidence in the healthcare system by setting strict standards and ensuring transparency during its control responsibilities.

Competitive Landscape

Key Players:

• AbbVie
• Pfizer
• Novartis
• Merck
• GSK
• Sanofi
• Genomma Lab
• Silanes
• SOMAR Group
• Laboratorios Grin