Brazil Medical Devices Market Size, Share, Insights, Emerging Trends and Comprehensive Research Forecast To 2023

Today, the Brazil Medical Devices Market is rising due to various factors including advancements in connectivity and processing power of devices, cloud integration, demand for early detection and noninvasive therapies (like those for cancer), development of stronger biocompatible materials growth of healthcare mobile applications, growing awareness and spread of information technology (IT). Due to the falling cost of production, some medical devices are available today at nominal prices. Their usage can also boost the Brazil medical devices market.

When devices like injections and stethoscope entered the world of medical sciences, their roles were limited. Science made progress, and today there are various kinds of machines that are integral to medical sciences. Today, people judge how good, or bad the medical facilities in a region or a particular hospital are, on the basis of what kind of advanced medical devices are available in that hospital. Some hospitals justify expensive medical treatments as they want money to maintain all the sophisticated devices and big machines that they use for medical diagnosis and treatment. However, due to more advanced devices are coming up every day, costs of devices with obsolete technology goes down.

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Market Research Future (MRFR) has published a research report about the Brazil medical devices market that adumbrates massive growth during the forecast period between 2017 and 2023, with a CAGR (Compound Annual Growth Rate) of 9%. In terms of cash, it is expected to grow from the current US $ 1100 mn to US $ 1844 mn by the end of the forecast period. This report provides detailed analysis of market structure, current market size, factors (based on porters five force analysis, price analysis, supply chain analysis, etc.) affecting the growth, future prospects, joint ventures, strategic alliances, mergers & acquisitions, new product developments, research and developments (R & D), key players in market and their business strategies.

In this report, the Brazil medical devices market has been segmented on the basis of end users, product type, and therapeutic application. Based on end-users, this market has been segmented into ambulatory, homes, and hospitals. Based on product types, the market has been segmented into automation, bioimplants, diagnostic devices, drug delivery devices, molecular diagnostic devices, monitoring devices, robotics, surgical devices, and stimulation devices, and others. On the basis of therapeutic application, cardiovascular application, dental application, diagnostic imaging application, ear-nose-throat (ENT), general surgery application, nephrology & urology, neurology application, ophthalmology, orthopedics application, respiratory application, and others.

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Being the largest economy in South America, Brazil has its healthcare sector divided into public and private. Local manufacturing is limited to consumables and ordinary articles and there are a handful of high-tech devices manufacturers. Therefore, Brazil imports a large chunk of medical devices from other countries. Around 75% of Brazil’s imports are medical devices. The biggest supplier of medical devices to Brazil is the United States of America (USA), followed by Europe, and China. Although the healthcare regional availability are different all over Brazil and socio-economic differentiation of Brazilian population is huge, Bahia, Minas Gerais, Parana, Rio de Janeiro, and São Paulo, top the healthcare expenditure list. Many international key players of global medical devices market play an important role in Brazilian medical devices market too.

Key Players

The key players of Brazil medical devices market include Baxter International (USA), Boston Scientific Corporation (USA), Cardinal Health (USA), Fresenius Medical Care AG & Co. (Germany), General Electric (USA), Hitachi Medical Corporation (Japan), Johnson & Johnson (USA), Medtronic (USA), Koninklijke Philips Electronics NV. (Netherlands), Siemens AG (Germany), St. Jude Medical Inc. (USA).

Latest Industry 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.

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