Jennifer Mendoza
Research expert covering health, pharma and medtech
Pharmaceutical industry in Mexico - statistics & Facts
Mexico is the second-largest market for pharmaceutical products in Latin America. Located in the region with the fastest growing pharmaceutical market in the world, the North American country displayed a value of over eight billion U.S. dollars in 2021. Although Mexico is a net importer of these products, the nation has a robust pharmaceutical industry, hosting around 140 manufacturing establishments and directly employing more than 50,000 people.
While the local industry is well established, the leading pharmaceutical companies in Mexico are predominantly global corporations such as the German multinational Bayer, and the French firm Sanofi. When it comes to local players, one of the best-known companies is Genomma Lab. Headquartered in Mexico City, the company generated a revenue of more than 16 billion Mexican pesos in 2023. Among major pharmaceutical retailers are pharmacy chains such as Farmacias Guadalajara, a subsidiary of Corporativo Fragua, Farmacias Benavides, and Farmacias del Ahorro.
Key segments and major players
Frequently used for the prevention and treatment of bacterial infections, antibiotics account for nearly half of the Mexican production of pharmaceuticals. Analgesics, commonly prescribed for pain management, account for a quarter of the production. Together, these two categories make up close to two-thirds of the local industry. Oncological, dermatological, and antiparasitic products are also among the main categories of pharmaceuticals produced in the country.While the local industry is well established, the leading pharmaceutical companies in Mexico are predominantly global corporations such as the German multinational Bayer, and the French firm Sanofi. When it comes to local players, one of the best-known companies is Genomma Lab. Headquartered in Mexico City, the company generated a revenue of more than 16 billion Mexican pesos in 2023. Among major pharmaceutical retailers are pharmacy chains such as Farmacias Guadalajara, a subsidiary of Corporativo Fragua, Farmacias Benavides, and Farmacias del Ahorro.
Research and development
Just after Brazil, Mexico is the Latin American country with the second-largest number of clinical studies. As of April 2024, nearly 5,000 clinical studies were registered in the country, around half of which were in phase 3. This is usually the last phase before a medication can be approved by regulatory agencies and released to the general market, and is meant to measure how effective a drug is. It is also one of the most complex and time-consuming phases. As of that date, 78 of those phase 3 clinical studies were targeting COVID-19. In total, 115 clinical trials related to the disease had been completed in the country.
