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In 2024, Bayer México was the pharmaceutical company with the highest net sales value in Mexico, reaching around ***billion Mexican pesos. Boehringer Ingelheim México followed, with around ** billion Mexican pesos. Sanofi México ranked third, with sales amounting to ** billion Mexican pesos that year. 

Mexico’s pharmaceutical industry

With **pharmaceutical manufacturing establishments operating in the country, Mexico is the nation with the second largest pharmaceutical industry in Latin America, after Brazil. In 2024, the value of Mexico's pharmaceutical market reached over ** billion U.S. dollars, compared to the ** billion U.S. dollars for the Brazilian market. The pharma sector in Mexico relies mostly on imports. 

Health and pharma spending

Healthcare spending in Mexico, including governmental and out-of-pocket expenditure, amounted to U.S. dollars per person in 2024, a lower value compared to Costa Rica, Chile, and Colombia. Meanwhile, revenue of the OTC pharmaceutical market in the North American country amounted to *** billion U.S. dollars that year.