Brazilian Medical Devices Market to Expand with Increasing Product Launches; Asserts MRFR Unleashing the Forecast for 2017-2023

Pune, India, August 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Brazil Medical Devices Market.

Medical devices, one of the briskest segments of the healthcare industry, is witnessing a fabulous growth, globally, over the past few years. Innovations and new technologies majorly drive the worldwide medical devices market. Advances in technology are rapidly bringing forward state-of-the-art medical devices that are revolutionizing the perception of healthcare completely.

Over the past few years, the worldwide population is becoming extremely responsive towards healthcare, and Brazil is no exception. The nation is the largest economy in South America and spends around 8% of total GDP on healthcare. The Brazilian medical devices market is growing substantially, offering substantial growth opportunities for global players.

Besides, improvements in connectivity & processing technologies, growing healthcare mobile applications, the emergence of stronger biocompatible materials, and cloud integration are some of the trends driving the growth of the medical devices market in Brazil.

According to Market Research Future (MRFR), the Brazil medical devices market is expected to reach USD 1844 MN by 2023. In its recently published study report, MRFR also asserts that the market would register a CAGR over 9% throughout the forecast period (2017-2023). The market had valued at USD 1100 MN in 2017. The proliferation of medical sector and facilities drive the growth of the market.

Brazil demonstrates a high growth potential for the import of medical devices. Besides, factors such as the falling cost of production and rising manufacturing capacities in electronic industry, alongside, the demand for early detection and non-invasive therapies for chronic diseases such as Cancer propel the growth of the Brazilian medical devices market.

On the other hand, the high cost of imported medical devices, high sales tariffs, and low penetration of medical devices are some of the factors impeding the growth of the market. Also, fluctuating connectivity if a key growth restraint among inaccessible regions of Brazil.

Nevertheless, demand to curtail rising healthcare cost, spreading awareness, growth in the IT sector, and the development of user-friendly devices are some of the major factors expected to support the growth of the market over the assessment period.  

Brazil Medical Devices Market   - Segments

The report is segmented into four market dynamics to widen the scope of understanding,

 By Product Type: Monitoring Devices, Diagnostic Devices, Diagnostic Molecular Devices, Drug Delivery Devices, Surgical Devices, Bio implants & Stimulation Devices, and Automation & Robotics, among others.

By Therapeutic Application: General Surgery, Diagnostic Imaging, Respiratory, Orthopedics, Cardiovascular, Dental, Neurology, Ophthalmology, Ear-Nose-Throat (ENT), and Nephrology & Urology, among others.

By End-users:  Hospitals, Ambulatory, and Home, among others.

By Regions: Regions of Brazil, São Paulo, Minas Gerais, Bahia, Rio de Janeiro, Parana, and Rest of Brazil.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Brazil medical devices market Research Report

Brazil Medical Devices Market   -

Regional Analysis

The Brazilian healthcare sector is divided between private and state (public) with public healthcare accounting for a larger share of total health expenditures. Local medical devices manufacturing represents a poor outlook limited to consumables and basic instrument alongside, a handful of high-tech devices manufacturers. The extreme dependency of Brazil on imports accounts for almost 75% of the total medical devices market.

As a result of this, US medical device suppliers dominate the Brazilian medical devices market with Europe holding the second position. Also, China, with its low-cost devices, makes its presence seen, especially on low-end devices. Among all Brazilian countries, São Paulo, Bahia, Minas Gerais, Rio de Janeiro, and Parana tops in terms of healthcare expenditures.

The competition between two differential healthcare systems (private & govt.) alongside, the extreme social and economic differentiation of the Brazilian population threats to the medical devices market in the region. Also, Brazil has poor healthcare in its vast rural areas with a few cities dominating the scenario, such as São Paulo.

Brazil Medical Devices Market   - Major Players

Players leading the brazil medical devices market include General Electric, Johnson & Johnson, Medtronic, Baxter International, Koninklijke Philips Electronics NV., Fresenius Medical Care AG & Co., Boston Scientific Corporation, Cardinal Health, St. Jude Medical Inc., Siemens Ltd, and Hitachi Medical Corporation, among others.

Industry/Innovation/Related News:

August 02, 2019 ---- Materialise (Belgium), a leading software and 3D printing service provider, announced the acquisition of a 75 percent stake in Engimplan (Brazil), a medical device manufacturer to accelerate the introduction of 3D printed medical implants and instruments to the Brazilian market. 

The acquisition involved existing and new shares via its Brazilian subsidiary Engimplan Holding Ltda while granting Materialise with access to Engimplan’s local production facility. This strategic deal would allow Materialise to apply its medical 3D printing expertise to Engimplan’s device portfolio and to enter the company’s partner and distribution network in Brazil.