Mexico’s health care market to reach almost $28 billion by 2020
Mexico’s pharmaceutical and medical devices industries will be worth around $22.5 billion and $5.4 billion by 2020, respectively, totaling an overall health care market value of $27.9 billion.
According to research and consulting firm GlobalData, this overall increase in Mexico’s health care market value will represent a compound annual growth rate (CAGR) of 6.8%, climbing from $17.6 billion in 2013, as estimated in combined findings from GlobalData and the Organization for Economic Cooperation and Development.
A number of factors, including the prevalence of non-communicable diseases, improvements in regulatory guidelines, government support for the health care sector, and the North American Free Trade Agreement, will help drive the anticipated market growth, says GlobalData.
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