SOURCE: Kalorama Information
NEW YORK, NY–(Marketwire – August 27, 2010) – The economy of Mexico is challenged by a recession, oil prices, and a falling exchange rate. Yet according to a new report from healthcare market research publisher Kalorama Information, Mexico is still attracting clinical diagnostic companies and showing modest growth. Mexico’s IVD market grew 75% between 2004 and 2009, according to the report “McEvoy and Farmer’s Complete Guide to IVD Distribution in Mexico,” which is a joint publication of Kalorama and emerging IVD market research firm McEvoy and Farmer.
Mexico followed the United States into recession, which has hurt the private side of the in vitro diagnostic market, according to the report. Most diagnostic tests in Mexico are publicly-funded, but the report notes there may be a strain on finances next year due to the fall in the price of oil and an impending budget deficit. The exchange rate has changed from 10.9 pesos per dollar in 2007 to the current level of nearly 13; a sixteen-percent decline over the past two years.
“The fall of the peso hurts because most IVD products are not manufactured in Mexico,” said Bruce Carlson, Publisher of Kalorama Information. “Still, the analysts see a good number of top-level manufacturers here, and they are betting that when the US comes out of recession, Mexico will follow.”
In the report, Kalorama Information and McEvoy and Farmer detail 18 manufacturers and 30 distributors that are currently competing in Mexico’s IVD market, including Abbott, BD and Bio-Rad.
“McEvoy and Farmer’s Complete Guide to IVD Distribution in Mexico” provides more information, including healthcare statistics, market size numbers for segments of the IVD market and information about distributors and what products they distribute in Mexico. The report can be found at: http://www.kaloramainformation.com/redirect.asp?progid=79516&productid=2768446
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