The growth potential remains high with a large chunk of the population not yet integrated, increasing life expectancy, the introduction of modern medical practices and potential for exports. The Mexican market is growing at a good pace with the increase in per capita drug expenditure of about US$15 in the last 5 years making the entry into the market a profitable proposition. Indian embassies have become proactive in Economic Diplomacy and provide information, guidance and assistance to Indian exporters and businessmen. Trade and industry bodies and the Pharmaceutical Export Promotion councils should organize more promotional events such as BSMs(Buyer Seller Meet), exhibitions, Participation in Latin American fairs and visit of delegations and take full advantage of the “Focus –LAC” programme of the Commerce Ministry which provide financial support for export promotion activities.
In conclusion we can say that great opportunity is available for the Indian pharma companies. They can harness the rapidly growing sectors like diabetes, cardiovascular and HIV/AIDS segments in the Mexican market. This would not only boost their business but will also help to increase the competition in the Mexican market which will definitely lead to the reduction of drug prices and help the Mexican consumer. Thus it is a win- win situation for both the people of Mexico and the Indian pharma industry.
Embassy of India, Mexico, Market Report on Chemicals & pharmaceuticals ,July 2002
CII’s “Background Note on ‘Pharmaceutical Market In Mexico” Prepared by Cygnus.
Business With Latin America-R Viswanathan