Aguascalientes Opina – January 24, 2025
The Mexican Pharmaceutical Business: An Opportunity for Aguascalientes
By Aníbal Salazar
Amid the economic and political uncertainty that many countries face, Mexico has quietly seen the growth of an industry that is becoming increasingly relevant: the pharmaceutical industry. With a projected growth of over 10% by 2030, the pharmaceutical sector has not only withstood the blows of the global economy but is now stronger than ever. This boom is closely linked to a demographic phenomenon that is transforming Mexico’s population structure: aging.
Mexico is aging. In the coming years, the demand for medicines and medical services is expected to rise, with an estimated increase of 25% in the following years. This is one of the main reasons the pharmaceutical sector has become one of the fastest-growing industries in the country. The numbers speak for themselves: in 2022, total pharmaceutical sales reached 536,530 million pesos, highlighting the size of this market. And it seems the best is yet to come. As the Mexican population ages and public healthcare systems face limitations, private pharmacies with medical services have seen significant growth. Companies like Farmacias Guadalajara and Benavides are expanding rapidly, opening new locations at a fast pace. Medical consultations in these spaces are on the rise: according to data from the Mexican government, in 2021, one in five Mexicans used a pharmacy consultation.
What is even more relevant is that this trend is having a direct impact on local economies. In municipalities like Rincón de Romos, Aguascalientes, a unique opportunity is emerging. In 2000, this small municipality became home to the inauguration of the multinational pharmaceutical company CHINOIN, originally from Hungary. Since its arrival, the plant has shown continuous development, expanding its capacities in 2004. This success suggests that the area has great potential for further growth in the pharmaceutical sector. With an established local industry and a favorable context for sector expansion, Aguascalientes could capitalize on this trend, becoming a key hub for the pharmaceutical industry in Mexico.
The pharmaceutical industry is growing not only due to population aging but also because of a significant gap in the public healthcare system. Many people turn to pharmacy-based medical consultations due to limited access or overcrowded public services. This has allowed chains like Similares, which have expanded to countries such as Chile and Colombia, to grow in Mexico, opening more than 1,000 pharmacy consultations nationwide. These consultations provide essential services to the population and are proof that health has become an increasingly profitable business.
Therefore, if Aguascalientes wishes to seize this growth wave, it should seriously consider the possibility of attracting more investment in this sector. The presence of CHINOIN in Rincón de Romos already provides a solid foundation for future initiatives. Local authorities could collaborate with national and international pharmaceutical companies to encourage the establishment of new plants or even the expansion of existing ones. Additionally, creating tax incentives and training a specialized workforce in health and pharmaceuticals would be key steps to boosting this sector.
In summary, the pharmaceutical business in Mexico has a promising future. Private pharmacies are occupying a vital space in the healthcare system, and the aging population only accelerates this process. For Aguascalientes, with its CHINOIN plant and strategic location, it presents an unmatched opportunity to position itself as a leader in the country’s pharmaceutical industry. The outlook for this sector is favorable, and the time to start exploring these opportunities is now.
