Being one of the largest economies in Latin America and being visualized as one of the key upcoming healthcare hubs, Brazil has come a long way. It has secured a very high position amongst emerging countries as far as its economic growth is considered and has been ranked as one of the largest medical devices market in Latin America. Much can be interpreted with this exponential growth specially the changing focus of the government in terms of more investments and policies to streamline the growth of the medical devices industry in conjunction with the betterment of the local population.
The medical device industry has witnessed some drastic changes over the recent times which have pushed the country quite high in ranking amongst emerging nations as far as its performance in the healthcare industry as a whole is concerned. Though the economic growth is slow it has been steady and bound for an increase in the coming years and much of it can be attributed to the contribution made by the healthcare industry, which so far has been the most steady revenue generator. Brazil also boasts of being the second leading private health insurance sector in Americas, after US. This emphasizes the growing demand of better healthcare and increased spending power, both of which have fuelled the growth of not only the medical devices market but the healthcare industry as a whole.
Brazil medical device market is more import dependent as local manufactures are unable to meet the increasing demand and lack of quality standard as compare to global players. Brazil imported more than US$ 4 Billion worth of medical equipment in 2012 as compare to US$ 2.7 Billion in 2008. Imports will continue to dominate the medical device industry landscape in future as demand for imported medical devices is expected to surpass US$ 9 Billion by 2018.
“Brazil Medical Device Market Outlook 2018” research report by KuicK Research is an intriguing text that gives detailed facts and analysis on latest developments in the Brazil Medical Device Market. Report discusses various segments of the medical device market and analyzes the factors responsible for the growth and the need to resolve challenges to maintain growth momentum in future. Report discusses following aspects related to medical device market in Brazil: