Mexico Skincare Market Looking GoodTue, 09/06/2016 - 11:57
Q: What role does Mexico play for the global strategy of Galderma?
A: Mexico is considered a strategic priority for Galderma. Gaining recognition as a worldwide pre-eminent authority on skin health is a priority. Since its establishment in 1995, Galderma Mexico has partnered with healthcare professionals (HCPs) providing medical solutions in the skin health field. This has contributed to Galderma’s steady and systemic double-digit growth, becoming one of the top players in the dermatological arena. The company competes in three specific market segment including prescription (Rx) and OTC drugs, as well as aesthetic and corrective treatments.
They all deliver sustainable growth exceeding average market rates, and positioning our brands among the preferred ones by healthcare professionals. In terms of revenues, Mexico is within the top 10 countries in the world for Galderma and among the top emerging markets.
Q: What is the importance of Nestle’s acquisition of Galderma and what transformation has it brought to the business?
A: Nestlé is the leading nutrition, health and wellness company in the world. Acquiring full ownership of Galderma helped the group create Nestlé Skin Health, further solidifying its vision of enhancing society’s quality of life by delivering science-based solutions over the course of people’s lives in skin, hair and nail health. This will expand the reach of Galderma’s services and products not only for healthcare professionals and patients but also for everyday consumers. Under Nestlé Skin Health, Galderma will continue to leverage its strong heritage and competencies, meeting the requirements of the pharmaceutical and medical device environments with the help of its prescription and self-medication divisions, as well as its aesthetic and corrective products.
Q: What growth have the skin care and dermatology segments seen in Mexico?
A: Up to 70 percent of Mexico’s population is affected by some variety of skin disease with higher exposure rates encountered in lower socioeconomic spheres. At the very least, 3,000 skin diseases are thought to exist. Mexico continues to fall short when compared to mature markets in the skincare and dermatology fields, such as Europe, North America or other Latin American countries like Brazil and Argentina. However, the country’s low penetration poses growing opportunities moving forward. The needs and expectations of consumers change as mortality rates drop worldwide. Global trends show that consumers seek to feel and look better. The attention placed in skin senescence is growing as most people want their skin to overcome the challenges of time. As such, looking and feeling better while playing an active role in society is becoming more critical.
To achieve emotional and physical stability, consumers are looking for solutions that will get their skin back to its best natural look. Although Mexico’s demographics are mostly comprised by younger people they will eventually age, increasing the market’s demand for skin health care. As the demand for dermatology services increases the role of HCPs will consequently evolve. Considering the dermatologist to patient ratio in Mexico is of approximately 1:75,000, other medical practices such as pediatricians, geriatricians and general practitioners will be expected to deal with mild to moderate skin conditions. Meanwhile the demand for dermatologists will continue to rise.
Q: What kind of investment does Galderma direct to its R&D operations?
A: Galderma’s R&D operations focus on growing needs within the self-medication and esthetic and corrective dermatology fields. Although R&D centers have not been established in Mexico so far, our facilities in France, Sweden, Switzerland, the US and Japan continue to help us in this endeavor. In 2014, Galderma ran 78 clinical studies in 275 sites spread around 14 countries. So far, 23 of them are in phase IV, with a total of 6,905 enrolled patients. In return, we saw 55 new patent registrations. We look to maximize capacity and boost our efficiencies, delivering high quality and safety while improving costs due to larger production volumes.