Mexico has doubled its economic growth within the last ten years and is currently ranked as the second-most leading market economy in Central America. In the last year, leading index MEXBOL increased by 11%. In comparison, the Brazilian BOVESPA has only managed 2.8%.
Mexico is one of the most densely populated countries in the world. Within the last few years, the standard of living there has improved tremendously; life expectancy, as well as the number of persons aged over sixty-five, has increased, thus intensifying the demand for Pharma products. Due to new regulations, the healthcare system has also become much more patient-friendly. As a result, the Pharma market has increased by more than 8% per year. This means that the size of the Pharma market is estimated to rise to US $22.5 billion by 2020.
Brazil also has a rapidly growing market, but the country’s ANVISA** regulations are so stringent that any market access for new healthcare products has the potential to create problems. Moreover, patient handling has become so casual that high numbers of claims are common.
Colombia, Chile and Argentina are also viewed as countries with potential, and despite not reaching the level of the TRIUMPH markets, they can occasionally offer middle-sized companies some interesting niche opportunities.