The production volume of basic pharmaceutical products and pharmaceutical preparations in Mexico has shown fluctuations over the years. From 2013 to 2023, the annual growth rate varied, exhibiting peaks in years such as 2015 with a 13.62% increase and a significant downturn in 2020 with a -4.78% decrease. Over the last two years, slight variations were observed with a -1.74% dip in 2022 and a marginal 0.22% rise in 2023, positioning the industry at 254.47 billion Mexican Pesos as of 2023. The five-year CAGR up to 2023 indicates a modest average annual growth of 0.36%.
Looking ahead, the forecast from 2024 to 2028 suggests a stabilized growth trend, with a five-year CAGR of 0.17% and an overall growth rate of 0.87%. This implies a steady yet slow increase in production volumes for the pharmaceutical sector in Mexico.
Future trends to watch for:
- Technological advancements in pharmaceutical manufacturing which could enhance production efficiency.
- Policy changes and investments from the government that could impact production volumes.
- Global economic conditions and health crises that could influence demand and supply chains.
