Pharmaceutical companies in Mexico foresee growth of 36% amid the crisis

The Mexican pharmaceutical industry estimated this Wednesday a growth of 36% in the production of medicines for 2022, with some 1,500 million pieces more than in 2021, amid the persistent covid-19 pandemic, inflation, and monkeypox.

During the National Congress of Pharmacies, the leaders of the industry in Mexico, the eighth largest producer of medical equipment worldwide and the first in Latin America, projected the production of 5.7 billion pieces by the end of the year, higher than the 4.2 billion in 2021.

“The growth was extraordinary compared to what we had in previous years; that is, we are growing at double digits, something we have not seen in the last decade,” said Rafael Gual Cosío, general director of the National Chamber of the Pharmaceutical Industry (CANIFARMA).

The increased demand for generics was mainly due to an increase of up to 60% in private consultations during the pandemic, said Juvenal Becerra, president of the National Union of Pharmacy Entrepreneurs (UNEFARM).

He also attributed it to shortages and long waiting times in public health in Mexico, where the pharmaceutical market between the public and private sectors is equivalent to 220,000 million pesos per year (10,730 million dollars).

The businessman explained that the demand for generics grew 28% since the pandemic began, driven by antibiotics, antivirals, and supplies such as antibacterial gel (alcohol gel) or face masks.

Meanwhile, he cited a 10% rise in other chronic degenerative disease treatments to control blood pressure and diabetes.

He pointed out that the preceding caused the laboratories to project expansions toward Central and South America for the next few years.