Mexico Lipid Disorder Therapeutics Market Analysis

Mexico Lipid Disorder Therapeutics Market Executive Summary

Mexico Lipid Disorder Therapeutics Market is at around $60.6 Mn in 2023 and is projected to reach $139.3 Mn in 2030, exhibiting a CAGR of 12.63% during the forecast period

Lipids, also known as lipoproteins, are the types of fats that are present in the blood. A wide range of metabolic illnesses that impact blood lipid levels are referred to as lipid disorders. Their common characteristic is the presence of elevated blood levels of lipoproteins, triglycerides, and/or cholesterol, which are linked to a higher risk of (or existence of) cardiovascular disease. Lowering low-density lipoproteins (LDLs) can be achieved in a number of simple ways, such as avoiding foods rich in saturated fat, dietary cholesterol, and excess calories; exercising; keeping a healthy weight; and giving up smoking. The most widely recommended medications for treating lipids are statins.

Lipid disorders, particularly hypercholesterolemia and hypertriglyceridemia, are prevalent in Mexico. According to the National Health and Nutrition Survey, approximately 30% of the adult population in Mexico has elevated cholesterol levels. The increasing prevalence is closely linked to lifestyle factors such as unhealthy diets rich in saturated fats, low physical activity, and rising obesity rates, with over 70% of the adult population being overweight or obese. Healthcare expenditure in Mexico has been steadily increasing, driven by economic growth and government initiatives. In 2021, Mexico spent approximately 6.2% of its GDP on healthcare. The market therefore is driven by significant factors like growing awareness and diagnosis rates, collaborations and partnerships, and increasing healthcare expenditure. However, high cost of lipid-based drugs, limited access to healthcare services, and adverse effects restrict the growth and potential of the market.

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Market Dynamics

Market Growth Drivers

Growing Awareness and Diagnosis Rates: The hazards connected to lipid disorders are becoming more widely known to the general public and medical experts.  Increased identification rates of lipid diseases brought about by improved screening and diagnostic methods have led to a significant rise in the need for treatment interventions. For instance, a study published in the journal Nature found that over 80% of Mexico adults exhibited some form of lipid abnormality. This highlights the growing public health concern surrounding lipid disorders.

Collaborations and Partnerships: Partnerships among pharmaceutical corporations, academic institutions, and healthcare organizations promote information sharing, funding for research, and the creation of novel treatment approaches. These collaborations spur innovation in the treatment of lipid disorders and quicken the conversion of research findings into practical applications.

Increasing Healthcare Expenditure: Both the private and public sectors in Mexico have been gradually increasing their spending on healthcare. Healthcare expenditures in Mexico have risen by 8%, reflecting a growing commitment to improving healthcare access. Increased accessibility to lipid problem therapies, such as prescription drugs, diagnostic procedures, and preventive care, is a direct result of this increase in healthcare investments.

Market Restraints

High Cost of Lipid-based Drugs: The development and manufacturing of lipid-based drugs is quite expensive due to the complexity and high-quality raw material requirements of lipid synthesis. According to a study by Pharma Market Research, these medicines can cost up to 5 times more to produce compared to conventional drugs, contributing to their higher pricing. Fewer people can afford these medicines because these costs are typically covered by customers. For the most part, patients without adequate insurance coverage may find the high cost to be a significant barrier to market expansion.

Limited Access to Healthcare Services: Disparities in healthcare services and infrastructure still exist in Mexico, despite efforts to increase access to care. The lack of access to specialized lipid problem therapies and healthcare facilities in rural areas and underprivileged people frequently results in underdiagnosis and undertreatment of lipid disorders.

Adverse effects: One of the primary challenges confronting the lipid disease therapeutics market is the adverse effects of cholesterol-lowering medications. Common drugs such as statins can have adverse effects that include increased blood sugar, liver damage, and discomfort in the muscles. These consequences might deter patients and limit the expansion of the market. Patients need to be constantly watched over and controlled due to these adverse effects, which increases healthcare costs and complicates treatment plans.

Regulatory Landscape and Reimbursement Scenario

In Mexico, healthcare regulation is primarily overseen by the Secretariat of Health (Secretaría de Salud), which is responsible for national health policy and services. A key agency within this framework is the Federal Commission for Protection against Sanitary Risks (COFEPRIS). COFEPRIS regulates medical devices, drugs, food, beverages, and other health-related products and services. It ensures the quality, safety, and efficacy of these products and is recognized by the World Health Organization as a National Regulatory Authority of Regional Reference

Reimbursement is primarily managed by both public and private insurance providers. Public healthcare is offered through government programs such as the Mexican Social Security Institute (IMSS) and the National Health Insurance Commission (Seguro Popular). Reimbursement processes include covering hospitalization, medical expenses, and outpatient services, but challenges like complex regulations and fraud persist, affecting efficiency and accessibility.

Competitive Landscape

Key Players

Here are some of the major key players in the Mexico Lipid Disorder Therapeutics Market:

• Sanofi
• Pfizer, Inc.
• GlaxoSmithKline plc
• Novartis AG
• Merck & Co., Inc.
• Amgen Inc.
• Takeda Pharmaceutical Company Limited
• Sun Pharmaceutical Industries Ltd.
• AbbVie, Inc.
• Viatris
• AstraZeneca PLC
• Dr. Reddy’s Laboratories Ltd.