How Brazil Medical Device Market Is Positioned?
Medical Device market in Brazil is highly dependent on imports of highly complex technical equipment wherein the currency exchange fluctuations may decline the profit margins of the manufacturers in the country.
Moreover, in 1990, the Brazilian government also installed its free Universal health system (SUS) for the Brazilian population which increased the number of people going to hospitals for required consultations and surgeries. The Medical Device Market in Brazil is at a growing stage, owing to the presence of many international manufacturers in the country. The industry is booming with the Universal Health System (SUS), the growing elderly population (Above 65 Years) and growing investment in R&D for the manufacturing of new equipment in Brazil.
The reported number of death cases due to cardiovascular disease and cancer accounted for the highest percentage share of ~% and ~% respectively in the proportion of total mortality due to different diseases in the year 2016.
The Revenue in terms of the value of Medical Devices at the manufacturer’s level was evaluated at USD ~ Billion in 2013. The market grew with a CAGR of ~% in the time period of 2013-2018 and was evaluated at USD ~ Billion in 2018.
Growth in the Medical devices market was affected by the 2015 economic crisis as unemployment in Brazil led to a number of uninsured people in Brazil. This further became a reason for people not going with healthcare services in Brazil. However, the economy is recovering.
How Brazil Medical Device Market Is Segmented?
By Business Activity
Brazil Medical Device market is moderately fragmented with around ~ domestic and ~ international manufacturers. High complex Medical Device equipment is majorly imported in the country due to the unavailability of raw materials. On the other hand, low complex devices that majorly include medical consumables are manufactured in the country by domestic manufacturers.
By Mode of Selling
Indirect Sales of Medical Devices in Brazil accounted for the highest revenue share of ~% during the year 2018 in terms of revenues largely due to the concentration of production activities of medical devices in the Country. Direct Sales, on the other hand, accounted for ~% share in terms of revenue during the year 2018.
By Type of Device
Reagents for In-Vitro Diagnostics accounted for the highest percentage share of ~% during the year 2018 due to the growing interest of the Brazilian prenatal screening and molecular testing technologies. Materials and Supplies which include Syringes, needles, catheters, bandages, dressings, suturing Materials have accounted for ~% of Brazil's medical device market share in 2018.
By End Users
Hospitals in Brazil accounted for the highest percentage share of ~% in the year 2018 largely due to the presence of a number of hospitals and the volume being demanded by different departments in the Hospitals. Clinics and Diagnostic labs accounted for ~% share in terms of revenue in 2018, as an only specific set of medical devices are used for the examination purposes at the laboratories.
By Region
Southeast Region in Brazil accounted for the highest revenue share of ~% in 2018 largely due to the number of hospitals and diagnostic labs in that region. In 2018, the South region is the second-highest region with a ~% share in terms of revenue followed by South, Midwest, and North.
How Is The Competitive Landscape Of Medical Devices Market In Brazil?
Medical Device Market in Brazil is moderately fragmented with domestic and international players wherein the less complicated devices are manufactured in Brazil and high complex devices are largely imported.
The manufacturers in Brazil majorly compete on the basis of Business Model, Office Locations, Business Segments, Major Specialization, and Subsidiaries. Major International players that are operating in Brazil are Johnson and Johnson Medical Devices, Medtronic, Boston Scientific Corporation, B. Braun, Becton Dickinson, Baxter International, and Stryker International.
The companies in Brazil are operating in different business segments with more focus on indirect sales channels so as to cater to larger target audiences.
Future Outlook and Projections for Brazil Medical Device Market
Brazil Medical Device revenue is anticipated to increase from USD ~ billion in 2018 to USD ~ billion by the year ending 2025 at a CAGR of ~ % during the period 2018-2025F with respect to multiple factors that include growing per capita health expenditure, improving insurance penetration, a growing aging population, rising investment in R&D activities, technology, and product development, advancements in connectivity, growth in healthcare mobile applications and improvements in Universal healthcare system (SUS) in Brazil. Increasing government health expenditure coupled with the growing number of chronic diseases including HIV and cancer will drive the demand medical device in the near future in Brazil.
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 Growth Revenue
Brazil Medical Device Hospital Market Sales
Brazil In-Vitro Device Market
Brazil Medical Device Market Revenue
Brazil Diagnostic Imaging Market Analysis
Brazil Hospital Furniture Market Revenue
Brazil Laboratory Equipment Market
Brazil Dentistry Equipment Market Revenue
Competition of Brazil Medical Device Companies
J&J Medical Brazil Medical Device Market Share
Medtronic Brazil Medical Device Market Competitors
For More Information On The Research Report, Refer To Below Link:-
Related Reports by Ken Research:-
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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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