Brazilian Medical Devices Market: Investment Opportunities, Growth, Forecasts by Care Areas and Local Competitive Landscape(2015-2018)

  • ID:PD000112
  • October 2019
  • Ethnographic Medical Research
                          

 Amidst political unrest and corruption scandals, Brazilian economy has been weakening over the last few years. Marked by unstable economic indicators and dwindling strength of Brazilian Real, the business environment in Brazil portrays an uncertain picture. Despite a very slow growth in 2014, 1% growth in the economy is expected in 2015. Weakening Brazilian Real and higher interest rates have attracted many foreign investors. Typically known for late penetration of high-end technology, the scenario is expected to change in the coming few years. Investments to promote technological innovation and research are underway, carving a path for many innovators to commercialise their products.  As per EMeRG analysis, Brazil represents a favourable market for business; however recent instability in the economic indicators and reduced flow of capital investment in 2014 are likely to impact its growth in 2015. Given its track record of quick economic recovery, country’s economic growth is likely to regain momentum in Q4 of 2015.

Despite universal coverage and subsidised public facilities, Brazil’s healthcare industry  is  driven majorly by private funding. Owing to longer waiting lines, limited  services, inadequate quality and obsolete medical equipment, the demand for private facilities has been increasing. Moreover, expanding private health insurance and increased disposable income have further bolstered the demand and usage of private facilities. Brazilian healthcare system majorly depends on private funding with a considerable proportion spent as out of pocket expenses. Although the public system covers over 75% of the population in Brazil, the depth of coverage is deemed to be inadequate. With majority population being exposed to private health insurance schemes, growth of private sector is likely to be dominant. Of the total hospitals functional in Brazil, over 70% belong to the private sector. With hospitals largely concentrated within 6 major cities, disparity in healthcare access is significantly evident. Moreover, Brazilian IVD market crossed $1Bn mark in 2011 and continues to grow at a steady rate. Around 21,000 private diagnostic /pathology laboratories (including collection sites) are estimated to be functional currently

Growing at a CAGR of 12.8% from 2015 to 2018, the Brazilian medical device market is expected to be valued at $9.6Bn in 2018. Despite sluggish economic growth in 2014, the medical devices market  grew steadily, attributed to  inadequate public facilities and rising demand for private services. Owing to recent dip in GDP and other economic indicators, the medical devices market in 2015 is expected to have a slower growth. However, dwindling Brazilian real and relaxed FDI law in healthcare have been attracting many foreign investors, resulting in expansion of private facilities. Over 50% of the medical devices in Brazil are imported. With the weakening of local currency, the volume of imports has been decreasing. Chiefly met  by local production, orthopedic, dental and medical devices markets are expected to grow at a CAGR of 16.4%, 13.0% and 12.6% respectively (from 2015 to 2018). With only 24% of CT scanners and 14% of MRI scanner under SUS, the market for diagnostic imaging is expected to surge

Created with crisp data representations, graphics and concise style of writing, the report provides an in-depth coverage of the business environment in Brazil. The report is aimed at highlighting the current opportunities and threats inside Brazil for medical device manufacturers while taking into account the existing policy changes, regulatory amendments and other market dynamics. The report captures the current healthcare structure, purchase decision criteria for medical devices and types of hospitals across Brazil and highlights the various opportunities across hospitals types and by disease areas. The report takes a deep-dive into the medical device market and highlights opportunities and revenue forecasts by various product categories including medical imaging equipment and accessories, medical consumables, dental devices, orthopedic devices and other medical device products. Finally, the report provides an in-depth qualitative analysis of the current competitive landscape with a focus on the local manufacturers as well as the recent activities of global market participants in Brazil over the past 3-4 years.


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