As per the latest report published by Market Research Future (MRFR), the medical devices market in Brazil will witness a compound annual growth rate of 9% during the forecast period, ending in 2023. The medical devices market in Brazil reach a valuation of 1100 Mn in the years 2017.
According to the definition given by WHO, medical devices are any equipment, apparatus, implants, appliance, machine or material intended for serving a medical purpose. Demand for such device has seen a considerable rise across Brazil. There a significant improvement in the healthcare system in the country. Brazil is one of the prominent importers of medical devices in South America. Currently, a large percentage of the market share is captured by European and U.S. based companies. Meanwhile, China-based medical device companies are also focusing on improving their market position in the country by being more competitive at pricing point.
Increased healthcare expenditure and availability of a wide rang of medical devices is supporting the growth of the market in Brazil. Over the years, the local authorities have made the healthcare sector a priority. This has facilitated advances in healthcare mobile application, greater awareness level and R&D efforts as well as integration of cloud and IoT in healthcare. Efforts are also being made to reduce healthcare cost in order to cater a larger consumer based. At the same time, focus is placed on developing higher manufacturing capacities for the electronics sector. Sales of the medical devices that facilitate early detection, disease management and non-invasive therapies are on the rise in Brazil.
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Brazil Medical Device Market – Competitive Landscape
Johnson & Johnson, Medtronic, Baxter International, Cardinal Health, Hitachi Medical Corporation, Koninklijke Philips Electronics NV., Boston Scientific Corporation, General Electric, Siemens Ltd, St. Jude Medical Inc. and Fresenius Medical Care AG & Co. are some of the leading companies operating in Brazil medical devices market.
Latest News:
Thubrikar Aortic Valve, Inc., a privately held medical device company is developing a next-generation Transcatheter Aortic Valve Implantation (TAVI) system. Its licensee, Labcor Laboratórios of Brazil, is set to receive an additional investment of $460,000 cash and a $500,000 promissory note, to widen the reach of TAVI when it gets released. Labcor is a world-renowned company that specializes in the manufacturing of biological prostheses.
InspireMD, Inc., a leader in embolic prevention systems (EPS), neurovascular devices, and thrombus management technologies that announced that CGuard™ EPS was featured at the SBHCI Congress. Sponsored by the Brazilian Society of Hemodynamics and Interventional Cardiology, SBHCI Congress took place in Curitiba, Brazil from June 13-15, 2018. It hosted approximately 1,200 participants including doctors from across Brazil and Central and South America.
Brazil Medical Device Market – Segmental Analysis
MRFR’s report also includes a comprehensive segmental analysis of the medical device market in Brazil based on product type, therapeutic application and end-user. Based on product type, the market has been segmented into diagnostic devices, drug delivery devices, bio implants and stimulation devices, monitoring devices, surgical devices, diagnostic molecular devices, automation and robotics and others. By therapeutic application, the market has been segmented into nephrology and urology, neurology, cardiovascular, ear-nose-throat (ENT), general surgery, respiratory, orthopedics, diagnostic imaging, dental, ophthalmology and others. By end user, the market has been segmented into ambulatory, hospital and home.
Brazil Medical Devices Market – Regional Analysis
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.
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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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