Brazil medical devices market to reach around US$ 1844 million by 2023

Medical Devices Market Research Report- Brazil Forecast to 2023
Market Research Future published a half Cooked research report on “Brazil medical devices market. Brazil medical devices market to reach around US$ 1844 million by 2023

Brazil Medical Devices Market Information, by Product type (Monitoring Devices, Diagnostic devices, Diagnostic Molecular Devices, Drug delivery devices, Surgical Devices, Bio implants and Stimulation Devices, Automation and Robotics and Others); by Therapeutic Application (General Surgery, Diagnostic Imaging, Respiratory, Orthopedics, Cardiovascular, Dental, Neurology, Ophthalmology, Ear-Nose-Throat (ENT), Nephrology and Urology, and Others) and by End Users (Hospitals, Ambulatory and Home) – Forecast till 2023 

The World Health Organization (WHO) defines medical device as any instrument, apparatus, machine, appliance, implant, software, material etc. intended to be used for medical purposes and which does not achieve its primary intended action by pharmacological, immunological or metabolic means, but which may assisted these function. Brazil is the largest economy in South America and spends 8.3% of GDP on healthcare in 2014.

Brazil has an extreme dependence on imports with regards to medical devices with the domestic market being highly consolidated with a handful of players. The U.S. leads the bandwagon of exporters followed by Europe. The imports are also poised to grow in the future with China challenging the western hegemony in low end devices. 

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Key Players for Brazil Medical Devices Market: 

Some of the key players in this market are: Johnson & Johnson, General Electric, Medtronic, Koninklijke Philips Electronics NV., Baxter International, Fresenius Medical Care AG & Co., Cardinal Health, Boston Scientific Corporation, St. Jude Medical Inc., Hitachi Medical Corporation, Siemens Ltd and others.

Technology and product development remain the main growth engines for the market for medical devices. Advancements in connectivity and processing power of devices, growth of healthcare mobile applications, development of stronger biocompatible materials and cloud integration are the leading themes in technology. Falling cost of production and rising manufacturing capacities in electronic industry, demand for early detection and noninvasive therapies such as those of cancer etc., need to curtail the rising cost of healthcare, growing awareness and spread of information technology, development of user friendly devices etc. are further fueling the market. Market constraints are high cost of imported medical devices and high sales tariffs, low penetration of medical devices in Brazil and differential connectivity in inaccessible regions of Brazil. The poor regulatory framework has led to poor quality devices especially made by developing nations, which competes with high quality devices reducing the share of high tech devices segment. Political turmoil, the weak Brazilian Real etc. remain economic threats to the market.

Taking all factors into consideration, we expect the Brazil medical devices market to reach around US$ 1844 million from US$ 1100 million in 2017, by the end of the forecast period at a CAGR of ~9%.

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Study Objectives Brazil Medical Devices Market:

  • To provide detail analysis of the market structure along with forecast for the next 6 years of the various segments and sub-segments of the Brazil medical devices market
  • To provide insights about factors affecting the market growth
  • To analyze the market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
  • To provide historical and forecast revenue of the market segments and sub-segments for Brazil medical devices market
  • To provide country level analysis of the market with respect to the current market size and future prospective
  • To provide country level analysis of the market for segments by product type, by therapeutic applications, by end users and other sub segments.
  • To provide overview of key players and their strategic profiling in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
  • To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments globally.

Segments:

Brazil medical devices market has been segmented on the basis of product type which comprises monitoring devices, diagnostic devices, diagnostic molecular devices, drug delivery devices, surgical devices, bio implants and stimulation devices, automation and robotics and others. On the basis of therapeutic application; market is segmented into general surgery, diagnostic imaging, respiratory, orthopedics, cardiovascular, dental, neurology, ophthalmology, ear-nose-throat (ENT), nephrology and urology, and others. On the basis of end users; market is segmented hospitals, ambulatory and home.

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Regional Analysis of Brazil Medical Devices Market:

The healthcare sector of Brazil is divided between private and state with the public healthcare accounting for approximately 45% of total health expenditure in 2014. Local manufacturing represents a poor outlook which is limited to consumables and ordinary articles and there are a handful of high tech devices manufacturers. Another important factor to be considered is the extreme dependency of Brazil on imports which account for approximately 75% of total market for medical devices. U.S. medical device suppliers dominate the scenario with Europe in the second position. China is expected to substitute the western nations especially in low end devices which will be the fastest segment. Among the regions of Brazil, São Paulo, Minas Gerais, Bahia, Rio de Janeiro and Parana tops the healthcare expenditure list. The differential healthcare regional availability in Brazil with extreme social and economic differentiation of the Brazilian population are further threats to the market. Brazil also has poor healthcare in its vast rural areas with a few cities dominating the scenario such as São Paulo.

 

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