The Mexico radiopharmaceuticals market is expected to witness a favorable growth during the forecast period. With the rise in investments in R&D of radiopharmaceuticals for clinical and restorative applications, the market is expected to witness significant growth. The essential radioisotopes in the radiopharmaceuticals market in Mexico are Technetium 99m, Fluorine 18, Iodine I, Gallium 68, and also others. The significant applications of radiopharmaceuticals in Mexico include cancer, cardiology, and others. In terms of type, the major radiopharmaceuticals in the Mexican market are diagnostic and therapeutic. The major customers of radiopharmaceuticals are hospitals & clinics, medical imaging centers, and others.
The development of the Mexico radiopharmaceuticals market can be attributed to factors such as a rising prevalence of cancer worldwide, technical improvements in radiopharmaceuticals, as well as using radiopharmaceuticals for medical diagnosis of specific diseases. The rising prevalence of cancer cells in Mexico as well as the increasing demand for early diagnosis of cancer cells are anticipated to be the major factors driving the development in this market. The rising preference for nuclear medicine procedures owing to its effectiveness for imaging as well as medical diagnosis is additionally expected to drive the growth of the market. In addition, the introduction of 3D printing innovation in the production of radiopharmaceuticals is anticipated to develop opportunities for new product launches during the forecast years.
On the contrary, the rigid governing regulations as well as the high cost of radiopharmaceuticals are anticipated to act as restricting factors for the market growth. Furthermore, stringent federal government regulations regarding the supply and circulation are expected to hamper the development of the market during the forecast years.
The market environment of Mexico radiopharmaceuticals is studied by using Porter’s 5 forces analysis. Threat of new participants, negotiating power of purchasers, negotiating power of distributors, threat of substitutes, and degree of competitive rivalry in the market are taken into consideration. The risk of new entrants out there is mini due to stringent guidelines associated with the manufacturing and sale of radiopharmaceuticals. In addition, the presence of many well-known players in the market also restricts the entry of new players as well as creates a competitive environment in the market. The bargaining power of purchasers in the market is moderate owing to the presence of several well-known distributors. Moreover, the vendors usually offer discount rates to customers for bulk orders, which further strengthens their power in the market.
The bargaining power of distributors is low, owing to the visibility of presence distributors. In addition, customers can conveniently switch over to a different supplier owing to the presence of several providers in the market. The threat of alternatives is low, due to the benefits of radiopharmaceuticals for diagnosis and imaging. The accessibility of alternatives such as optical imaging and magnetic vibration imaging for imaging & medical diagnosis is low. The level of competitive rivalry in the market is high due to the existence of reputable players in the industry. In addition, the introduction of new modern technologies and the substantial financial investments in R&D tasks in the sector have actually increased the number of competitors in the market.
The future trends in the Mexico radiopharmaceuticals market include the introduction of new radiopharmaceuticals, R&D in the field of imaging, and the presence of new players in the market. The use of radiopharmaceuticals in targeted therapies is expected to increase in the upcoming years. In addition, the increasing awareness about the benefits of radiopharmaceuticals is anticipated to drive the growth of the market during the forecast period.
The demand need for radiopharmaceuticals from the healthcare facilities and clinical imaging facilities is expected to boost the market growth. Furthermore, the rising technical innovations in radiopharmaceuticals is expected to create possibilities for new product launches in the market. The leading players in the Mexico radiopharmaceuticals market are focusing on launching new products in the market. They are additionally investing dramatically in R&D tasks. For instance, in March 2019, the U.S.-based radioisotope business, PETnet Solutions, released a brand-new radioisotope, Technetium 99m, in Mexico. In addition, the business has actually established solution facilities in significant cities of Mexico, which offers radiopharmaceuticals to the local healthcare facilities.
The leading companies are also concentrating on expanding their manufacturing capacity. For instance, in February 2020, the Mexican radiopharmaceuticals firm, Ergomed, announced the development of its radiopharmaceuticals.
Key companies profile in the report are Sanofi, Gammaglobulin, Grupo Angel, Promecaps SA, Radiofarm SA de CV, Micro-Innova SA de CV, Nucleomex SA de CV, Plena Pharma SA de CV, Bioenex SA de CV, Farmefluar SA de CV.
The radiopharmaceuticals market share is segmented into Radioisotope, Application, Type, End User, and region. On the basis of radioisotopes, the market is classified into Technetium-99m, Fluorine-18, Iodine I, Gallium-68, and others. On the basis of application, the market is divided into cancer, cardiology, and others. On the basis of type, the market is bifurcated into diagnostic, and therapeutic. On the basis of end user, the market is fragmented into hospitals and clinics, medical imaging centers, and others. The others segment includes diagnostic centers, and research institute.
The development of the Mexico radiopharmaceuticals market can be attributed to factors such as a rising prevalence of cancer worldwide, technical improvements in radiopharmaceuticals, as well as using radiopharmaceuticals for medical diagnosis of specific diseases. The rising prevalence of cancer cells in Mexico as well as the increasing demand for early diagnosis of cancer cells are anticipated to be the major factors driving the development in this market. The rising preference for nuclear medicine procedures owing to its effectiveness for imaging as well as medical diagnosis is additionally expected to drive the growth of the market. In addition, the introduction of 3D printing innovation in the production of radiopharmaceuticals is anticipated to develop opportunities for new product launches during the forecast years.
On the contrary, the rigid governing regulations as well as the high cost of radiopharmaceuticals are anticipated to act as restricting factors for the market growth. Furthermore, stringent federal government regulations regarding the supply and circulation are expected to hamper the development of the market during the forecast years.
The market environment of Mexico radiopharmaceuticals is studied by using Porter’s 5 forces analysis. Threat of new participants, negotiating power of purchasers, negotiating power of distributors, threat of substitutes, and degree of competitive rivalry in the market are taken into consideration. The risk of new entrants out there is mini due to stringent guidelines associated with the manufacturing and sale of radiopharmaceuticals. In addition, the presence of many well-known players in the market also restricts the entry of new players as well as creates a competitive environment in the market. The bargaining power of purchasers in the market is moderate owing to the presence of several well-known distributors. Moreover, the vendors usually offer discount rates to customers for bulk orders, which further strengthens their power in the market.
The bargaining power of distributors is low, owing to the visibility of presence distributors. In addition, customers can conveniently switch over to a different supplier owing to the presence of several providers in the market. The threat of alternatives is low, due to the benefits of radiopharmaceuticals for diagnosis and imaging. The accessibility of alternatives such as optical imaging and magnetic vibration imaging for imaging & medical diagnosis is low. The level of competitive rivalry in the market is high due to the existence of reputable players in the industry. In addition, the introduction of new modern technologies and the substantial financial investments in R&D tasks in the sector have actually increased the number of competitors in the market.
The future trends in the Mexico radiopharmaceuticals market include the introduction of new radiopharmaceuticals, R&D in the field of imaging, and the presence of new players in the market. The use of radiopharmaceuticals in targeted therapies is expected to increase in the upcoming years. In addition, the increasing awareness about the benefits of radiopharmaceuticals is anticipated to drive the growth of the market during the forecast period.
The demand need for radiopharmaceuticals from the healthcare facilities and clinical imaging facilities is expected to boost the market growth. Furthermore, the rising technical innovations in radiopharmaceuticals is expected to create possibilities for new product launches in the market. The leading players in the Mexico radiopharmaceuticals market are focusing on launching new products in the market. They are additionally investing dramatically in R&D tasks. For instance, in March 2019, the U.S.-based radioisotope business, PETnet Solutions, released a brand-new radioisotope, Technetium 99m, in Mexico. In addition, the business has actually established solution facilities in significant cities of Mexico, which offers radiopharmaceuticals to the local healthcare facilities.
The leading companies are also concentrating on expanding their manufacturing capacity. For instance, in February 2020, the Mexican radiopharmaceuticals firm, Ergomed, announced the development of its radiopharmaceuticals.
Key companies profile in the report are Sanofi, Gammaglobulin, Grupo Angel, Promecaps SA, Radiofarm SA de CV, Micro-Innova SA de CV, Nucleomex SA de CV, Plena Pharma SA de CV, Bioenex SA de CV, Farmefluar SA de CV.
The radiopharmaceuticals market share is segmented into Radioisotope, Application, Type, End User, and region. On the basis of radioisotopes, the market is classified into Technetium-99m, Fluorine-18, Iodine I, Gallium-68, and others. On the basis of application, the market is divided into cancer, cardiology, and others. On the basis of type, the market is bifurcated into diagnostic, and therapeutic. On the basis of end user, the market is fragmented into hospitals and clinics, medical imaging centers, and others. The others segment includes diagnostic centers, and research institute.
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Key Market Segments
By Type
- Diagnostic
- Therapeutic
By End User
- Hospitals and clinics
- Medical Imaging centers
- Others
By Radioisotope
- Fluorine 18
- Iodine I
- Gallium 68
- Others
- Technetium 99m
By Application
- Cancer
- Cardiology
- Others
- Key Market Players
- Sanofi
- Gammaglobulin
- Grupo Angel
- Promecaps SA
- Radiofarm SA de CV
- Micro-Innova SA de CV
- Nucleomex SA de CV
- Plena Pharma SA de CV
- Bioenex SA de CV
- Farmefluar SA de CV
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MEXICO RADIOPHARMACEUTICALS MARKET, BY RADIOISOTOPE
CHAPTER 5: MEXICO RADIOPHARMACEUTICALS MARKET, BY APPLICATION
CHAPTER 6: MEXICO RADIOPHARMACEUTICALS MARKET, BY TYPE
CHAPTER 7: MEXICO RADIOPHARMACEUTICALS MARKET, BY END USER
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Sanofi
- Gammaglobulin
- Grupo Angel
- Promecaps SA
- Radiofarm SA de CV
- Micro-Innova SA de CV
- Nucleomex SA de CV
- Plena Pharma SA de CV
- Bioenex SA de CV
- Farmefluar SA de CV
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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