Ensuring wealth for a 120 million population requires making available a diverse and sufficient supply of goods related to health and personal care. Many local and international companies have focused on providing access to the population to these types of products, especially medicines and derma-cosmetics. A leading group of companies covering these needs are generics manufacturers. Sixty-three percent or MX$23.4 billion (US$1.3 billion) of the total amount spent in consolidated purchases went to generics, according to IMSS. The growing business is driving big pharma companies, increasing diversification needs.
On the other side, OTCs must continue maintaining their place in the market while demonstrating health results and providing added values to patients, which usually are driven by loyalty or tradition. Similarly, derma-cosmetic companies are working on increasing awareness of skin care, bringing more attention to the market and working on recognizing consumer preferences to innovate in that direction.
-> What role do you play in delivering health results? How is consumer behavior shaping your marketing strategy?