Mexico’s Healthcare Market to Reach $28 Billion by 2020
According to a recent report by GlobalData and the Organization for Economic Co-operation and Development, Mexico’s pharmaceutical and medical devices industries will be worth approximately $22.5 billion and $5.4 billion by 2020, respectively. Overall, Mexico’s healthcare market will reach a value of $27.9 billion.
Mexico’s healthcare market value will represent a Compound Annual Growth Rate of 6.8 percent, climbing from $17.6 billion in 2013, the report stated.
According to GlobalData, a number of factors, including the prevalence of non-communicable diseases, improvements in regulatory healthcare guidelines, government support for the healthcare sector, and the North American Free Trade Agreement, will help drive the anticipated market growth.
“Over 350 domestic and multi-national companies are engaged in the manufacture of pharmaceutical products in Mexico, making the country one of the leading producers in the Americas. During the next five years, the pharmaceutical sector will have the opportunity to expand, due to a number of branded drugs losing market exclusivity. This will benefit domestic manufacturers, as the top pharmaceutical companies in Mexico mostly deal with generic drugs,” said Joshua Owide, GlobalData’s director of Healthcare Industry Dynamics, in a news release.
Mexico was Latin America’s main exporter of pharmaceutical products in 2012, and the country has grown to be a key exporter to Europe and the U.S., thanks largely in part to free trade agreements.
“While the Mexican pharmaceutical market may be vulnerable, with a high share of private healthcare expenditure, alongside out-of-pocket payments and the problem of counterfeit drugs, the overall outlook remains bright,” said Owide. “Non-communicable disease, which is rising in prevalence due to the increasing elderly population and changes to diet and lifestyle, combined with the Mexican government’s aim to provide universal healthcare coverage, will increase public expenditure and create greater market opportunities for both the pharmaceutical and medical device industries.”
5 mins with... Johannes Bhakdi, Quantgene
Quantgene is a US biotech company that uses AI and the cloud to do genomic testing. It was founded in 2015 to focus on cancer - integrating advanced genomics and molecular diagnostics systems with the cloud and AI systems.
CEO Johannes Bhakdi tells us Quantgene is the first COVID-19 testing company to fully integrate variant identification - we find out more.
Given the new Delta and Lambda variants, is the coronavirus mutating at a faster rate than most viruses?
The reason SARS-COV2 is mutating on a perceived higher rate is not that the individual viruses mutate at a higher rate, but that the base population infected with the virus is vastly higher. The absolute rate of global mutations is a direct function of how many people have the virus at any given point in time. Since this is a global pandemic, and tens of millions have been infected, we see more mutations.
That makes it more unpredictable, because any single mutation that has an evolutionary advantage - like the Delta variant - can then take over and spread even faster.
What is the usual process for testing and analysing viral mutations?
The most effective tool for analysing mutations is Whole Viral Genome sequencing. It allows you to read out the entire genome of the virus. Once the wet-lab sequencing is complete, we use this information to map it against what is called a "reference genome", meaning the classic SARS-COV2 genome. This allows us to then see any differences between the investigated sample and the baseline genome of SARS COV2.
We then use these differences to map them against a database of known mutations, like the Delta variant. That way we can see if we are dealing with any known variant, and if we have a new variant at our hands, as well as determine what this new variant does to the spike protein and how likely it is to be a problem with antigens and vaccines, based on the changed protein structure. This last step is not easy and not clear-cut, and there is some speculation into the determination of how problematic the mutated proteins are.
What does Quantgene do differently?
At Quantgene, we are focusing on solving problems for our clients - may it be employers, movie productions or governments. That means we ensure that our client gets the COVID protection they need in the fastest possible time frame and at the highest precision possible - mostly at or below market prices.
We are bringing together technologies like RT-PCR testing and mutation profiling/sequencing, as well as advanced bioinformatics and computational resources to ensure high-quality results are being delivered seamlessly.
We are also adding important components such as real-time cloud software and medical services to it. Simply put, we turn the COVID problem into a one-click seamless solution that works better than others, so companies and government clients don't have to deal with laboratories, medical or software providers who point fingers at each other and fail to deliver in time and with high precision. COVID is too dangerous and important to risk falling short.