Mexico Anti-Rheumatic Drug Market - Forecasts from 2022 to 2027

The Mexican antirheumatic drugs market was valued at US$6,326.779 million in 2020. The market is projected to grow at a CAGR of 2.12% to attain a value of US$7,327.540 million by 2027. The rising Mexican population suffering from arthritis is the major driver of the antirheumatic drugs market in Mexico. Arthritis does not affect only the elderly population, lifestyle, and work influences also result in the development of arthritis in adults. As such, the growing working population with sitting jobs is also contributing to the rising prevalence of arthritis in Mexico, thereby fuelling the growth of the antirheumatic drug market in the country. Another major driver of the Mexican antirheumatic drugs market is the growing medical tourism industry in the country supported by the OTC (over-the-counter) availability of cheaper prescription drugs in the country. Rising healthcare costs and wait times in the U.S. and Canada are encouraging people to turn to Mexico for cheaper drugs and medicines. According to U.S. government estimates, nearly 1 million people in California alone visit Mexico annually for health care services, including to buy prescription drugs. The presence of larger independent pharmacy chains and discount drug stores in Mexico as well as rising sales of OTC drugs through the non-pharmacy sector of the market is attracting a number of U.S. companies to set up joint development deals with Mexican retailers to boost the sales of OTC drugs, thus positively impacting the growth of the antirheumatic drug market.

The Mexican Antirheumatic Drugs market has been segmented based on the type of disease, type of molecule, and sales channel. By type of disease, the market has been segmented as osteoarthritis, rheumatoid arthritis, gout, lupus, and others. By type of molecule, the Mexican antirheumatic drug market has been classified into pharmaceuticals and biopharmaceuticals. The market segmentation has also been done by sales channel as prescription and over-the-counter (OTC).

Key Developments in the Market:

• In May 2022, Europharma teamed up with Shanghai Hnlius Biotech, Inc. for the production and marketing of three biosimilars for cancer treatment. Of three products, Rituximab is also used in the treatment of rheumatoid arthritis and is expected to be marketed in Mexico and several other countries by 2024.

Antirheumatic drugs launched and approved in the Mexcian market

Rensima, the world's first monoclonal antibody biosimilar, is developed by Celltrion. Renisma slows the disease's progression by inhibiting TNF-a. The drugs were approved by Mexico's COFEPRIS for the treatment of Rheumatoid arthritis and Psoriatic Arthritis, among several other conditions.

COVID-19 Insights:

COVID-19 had a significant impact on Mexico's antirheumatic drugs market. The growing number of adolescents and adult patients with multiple types of rheumatic diseases in Mexico is driving the demand for drugs in the region. However, owing to the surge in active cases and the enforcement of drastic measures like lockdown and social distancing, amid pandemic led to the closure of many production facilities, decreasing productivity. Furthermore, border restrictions further affected the imports and exports in the regions, disrupting the supply chain. Such factors slowed down the growth of the market amid the pandemic.

Segmentation

By Type of Disease

• Osteoarthritis
• Rheumatoid Arthritis
• Gout
• Lupus

By Drug Class

• Disease-modifying Anti-Rheumatic Drugs (DMARDs)
• Nonsteroidal Anti-inflammatory Drugs (NSAIDs)
• Corticosteroids
• JAK inhibitor

By Sales Channel

• Prescription
• Over-The-Counter (OTC)