The production of basic pharmaceutical products and pharmaceutical preparations in Mexico has shown fluctuating growth over the past decade. From 2013 to 2022, the sector experienced periods of both substantial increases and slight declines. Notably, the year-on-year variation peaked in 2015 with an increase of 19.39%, followed by a steady rise until 2022. In 2023, the industry's value stood at 312.71 billion Mexican Pesos, reflecting a 2.39% increase from the previous year. The compound annual growth rate (CAGR) over the last five years until 2023 was 2.95%, indicating modest, sustained growth.
Looking forward, the forecast data from 2024 to 2028 suggest a gradual increase, with the value expected to reach 351.12 billion Mexican Pesos by 2028. The forecasted five-year CAGR is 1.8%, which indicates a slower but steady growth pace compared to the past. Key future trends to watch include advancements in pharmaceutical technology, changes in regulatory policies, potential impact of global economic conditions, and increased investment in healthcare infrastructure. These factors could significantly influence the production dynamics in the coming years.
