Mexico Clinical Trials Market Size & Outlook, 2023-2030
Mexico clinical trials market, 2018-2030 (US$M)
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Mexico clinical trials market highlights
- The Mexico clinical trials market generated a revenue of USD 320.7 million in 2023 and is expected to reach USD 510.4 million by 2030.
- The Mexico market is expected to grow at a CAGR of 6.9% from 2024 to 2030.
- In terms of segment, phase iii was the largest revenue generating phase in 2023.
- Phase I is the most lucrative phase segment registering the fastest growth during the forecast period.
Clinical trials market data book summary
| Market revenue in 2023 | USD 320.7 million |
| Market revenue in 2030 | USD 510.4 million |
| Growth rate | 6.9% (CAGR from 2023 to 2030) |
| Largest segment | Phase iii |
| Fastest growing segment | Phase I |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Phase I, Phase II, Phase III, Phase IV |
| Key market players worldwide | Thermo Fisher Scientific Inc, Icon PLC, Charles River Laboratories International Inc, IQVIA Holdings Inc, Syneos Health, SGS AG, PAREXEL, Wuxi AppTec Co Ltd, Labcorp Holdings Inc, Eli Lilly and Co, Novo Nordisk A/S ADR, Pfizer Inc, Caidya |
Other key industry trends
- In terms of revenue, Mexico accounted for 0.4% of the global clinical trials market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil clinical trials market is projected to lead the regional market in terms of revenue in 2030.
- Argentina is the fastest growing regional market in Latin America and is projected to reach USD 506.1 million by 2030.
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Clinical Trials Market Scope
Clinical Trials Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico clinical trials market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to clinical trials market will help companies and investors design strategic landscapes.
Phase iii was the largest segment with a revenue share of 53.2% in 2023. Horizon Databook has segmented the Mexico clinical trials market based on phase i, phase ii, phase iii, phase iv covering the revenue growth of each sub-segment from 2018 to 2030.
Mexico is an attractive destination for outsourcing clinical trials as cost plays a major factor. Moreover, the proximity to the U.S. and the availability of investigators in urban areas also help in cost-cutting. As the population here cannot afford treatment of chronic diseases, they usually prefer participating in such trials.
Hence, availability of a diverse patient pool is one of the key regional market drivers. Favorable policies by the Federal Commission for the Protection against Sanitary Risk (COFEPRIS), including shortening setup time for clinical trials to 2 months, have attracted many clients. In addition, there have been major investments in infrastructure development to provide better healthcare and clinical facilities.
The increasing number of trials outsourced to this country has brought about many regulatory changes favoring growth. The Mexican government has established the Federal Commission for Protection against Sanitary Risks, which has improved the regulatory environment. The average time to set up a clinical trial process is 3 to 4 months.
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Target buyers of Mexico clinical trials market databook
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Our clientele includes a mix of clinical trials market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Mexico clinical trials market , including forecasts for subscribers. This country databook contains high-level insights into Mexico clinical trials market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Mexico clinical trials market size, by phase, 2018-2030 (US$M)
Mexico Clinical Trials Market Outlook Share, 2023 & 2030 (US$M)
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Related regional statistics
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