“Rising importance of affordable healthcare facilities and growth in the number of lifestyle-related disease patients in the country have driven the medical device sector in Brazil”
Analysts at Ken Research in their latest publication “Brazil Medical Device Market Outlook to 2025 – by Type of Device (Reagent for In-Vitro Diagnostics, Materials and Supplies, Laboratory Equipment and Others), Type of Business Activity (Import and Local Production), The channel of Sales (Distributor and Direct), Type of End User (Hospital, Clinics, and Diagnostic Lab Centers and Others) and By Region (South-East, South, North-East, Mid-West, and North)” observed that medical device in Brazil is in growth stage and it can be further expanded through rising healthcare expenditure, increasing healthcare establishments and increasing penetration of medical insurance. The market is expected to register a positive CAGR of 5.8% in terms of revenue during the forecast period 2018-2025F.
Rise in Chronic Diseases and Lifestyle Changes: Lifestyle-related changes have resulted in a growing number of patients with cardiac disorders and life-threatening diseases like cancer. This has led to positive growth in the sector such as diagnostic imaging as more number of catheterization labs and nuclear medicine, screening facilities have to be established for the diagnosis of patients in order to provide a customized solution. This, in turn, has led to healthy growth for the medical device sector. Also, newer technologies enable predictive analytics which has helped in assessing disease penetration and the decision-making process of end-users like hospitals and diagnostic labs.
Growing Healthcare Expenditure: The per capita healthcare expenditure stood at USD 1,093.6 in 2018. The government has been taking the regular initiative to increase this expenditure in order to improve the penetration of healthcare services in remote areas, bring innovation in patient-friendly solution and improve clinical outcomes. An increase in public healthcare expenditure has led to successive Greenfield and Brownfield growth in the hospital sector. Consequentially, this has led to an increase in revenue of the medical device industry as new capital systems, upgraded with the latest technology are being installed at various healthcare facilities.
Growing Elderly Population: the Rising elderly population has led to higher demand for various types of medical procedures which has complemented the number of tests, treatments, and medical procedures being conducted in the country. The elderly population of Brazil stood at 15.1 million in 2013 and increased to 18.7 million in 2018. Inclusion of higher workload and sophisticated systems based on machine learning, the cloud sharing platform has improved the scope of precision and laboratory medicine which has complemented the revenue of the industry with an increase in workload in the industry.
Key Segments Covered:-
By Business Activity
Import
Local Production)
By Sales Channel
Distributor
Direct Sales
By Type of Device
Reagents for In-Vitro Diagnostics
Materials and Supplies
Laboratory Equipment
Orthosis and Prosthesis
Diagnostic Imaging and Supplies
Dentistry Equipments
Hospital Furniture
Other Hospital Equipments
By Type of End-User
Hospital
Clinics
Diagnostic Lab Centers and Others
By Region
South-East
South
North-East
Mid-West
North
Key Target Audience
Medical Device Manufacturers
Medical Device Distributors
Medical Device Importers
Government Agencies
IVD Device Companies
Orthopedic Device Companies
Hospital Furniture Manufacturers
Diagnostic Imaging Device Companies
Time Period Captured in the Report:
Historical Period: 2013- 2018
Forecast Period: 2019 – 2025
Companies Covered:
J&J Medical
Medtronic
Baxter International Becton and Dickinson
Boston Scientific
Braun
Terumo Medical Corporation
Edwards Life Sciences
Stryker International
Adavium
Geratherm
Key Topics Covered in the Report:-
Brazil Medical Device Market
Brazil Medical Device Industry
Brazil IVD Reagent Market
Brazil Patient Aid Market
Brazil Diagnostic Imaging Market
Brazil Laboratory Equipment Market
Brazil Hospital Equipment Market Manufacturers
Brazil Dentistry Equipment Market
Brazil Orthopedic Device Market
Brazil Diagnostic Supplies Market
Brazil Medical Consumables Market
Brazil Hospital Furniture Market
Brazil Medical Device Market Regulation
For More Information On The Research Report, Refer To Below Link:-
Brazil Medical Device Market Analysis
Related Reports by Ken Research:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
