In future, it is anticipated that Brazil’s overall healthcare expenditure will increase, supported by increased investments in the country’s universal and public healthcare system, says a report by Ken Research.
1. Rising demand for priority medical devices for the first level of care in Brazil medical device market.
Global trends in Brazil medical device Industry
The medical device manufacturing companies in Brazil are largely focusing on high end technology driven products. Moreover, with the prevalence of lifestyle diseases such as diabetes, stroke and chronic diseases such as HIV, Tuberculosis, the hospitals and specialized clinics require advanced and priority medical devices. The demand of these devices is growing majorly in the cities of Southeast region such as Sao Paulo and Rio de Janeiro largely due to the strong infrastructure support for the installation and accessibility of these medical devices.
2. Artificial Intelligence is leading to developments in the Medical Devices Market of Brazil.
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The Brazilian medical segment is focused on areas that include technological innovations such as the practice of telemedicine, the application of artificial intelligence in diagnosis and the digitization of the patient's health history.
The use of artificial intelligence is one of the major trends which have positively impacted the medical device industry of the country. World Bank study shows that the use of the application of Artificial Intelligence to the analysis of electronic medical records could save BRL 22 Bn by avoiding unnecessary repetition of tests and treatments in Brazil. In addition, such technology improves turnaround time for patient testing and using predictive analytics on the basis of historical patient data can improve clinical outcome.
3. Cross Comparison of Imports and Local Production on the Basis of Major Exporting and Importing Countries.
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Medical Devices Market in Brazil is an import driven market. The equipment imported are majorly high complex medical devices that are not manufactured in Brazil largely due to the unavailability of raw materials and lack of manufacturing facilities in the country. Local Production constitutes for a lower percentage share as it is highly marked by the production of simple, less complicated devices or devices with established technologies.
Major Exporting countries to Brazil are USA, China, Japan, Germany, Mexico, Australia, Sweden, Ireland, France and others. Major local production happens in Sao Paulo and Rio de Janeiro located in South east region.
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