The pharmaceutical industry imports in Mexico stood at USD 6.64 billion in 2023. Analyzing the historical data, imports have shown variable trends. Between 2013 and 2016, there was a noticeable decline, reaching a low of USD 4.57 billion in 2016. However, from 2017 onwards, there has been a consistent upward trend. Notably, 2020 and 2021 witnessed significant increases, likely influenced by the global pandemic, with year-on-year growth rates of 4.38% and 15.4% respectively.
The average annual growth over the past five years (2019-2023) was 4.89%. This reflects a robust recovery and growth phase in recent years.
Looking ahead, the forecast indicates continued growth in pharmaceutical imports, projecting to reach USD 7.53 billion by 2028. The five-year compound annual growth rate (CAGR) for the forecast period (2024-2028) is 2%, reflecting a steady growth trajectory, with an expected overall increase of 10.42% over these five years.
Future trends to watch for include the impact of healthcare reforms, advances in biotech and personalized medicine, and shifts in trade policies that could influence import volumes and values in Mexico's pharmaceutical sector.
