Brazil Medical Devices Market Insights and Trend Analysis, By Therapeutic Application (General Surgery, Diagnostic Imaging, Orthopedics, Respiratory, Cardiovascular, Dental, Neurology, Ophthalmology, Ear-Nose-Throat (ENT), Nephrology and Urology), Product type (Monitoring Devices, Diagnostic devices, Diagnostic Molecular Devices, Drug delivery devices, Surgical Devices, Bio implants and Stimulation Devices, Automation and Robotics), End Users and Leading Players, Forecast To 2023
Brazil Medical Devices Market is expected grow at a CAGR of 9% over the assessment period (2017-2023). Medical devices are devices that are utilized for medical purposes and benefit patients by aiding healthcare providers in diagnosing and treating patients as well as helping them to overcome a disease or sickness, thereby improving the quality of life. These devices help people in having healthier, longer and productive lives. There are abundant factors that is propelling the growth of the Brazil medical devices market.
These factors as per the report include advancements in processing power and connectivity of devices, need for early detection, cloud integration, demand for noninvasive therapies such as for cancer, growing awareness as well as spread of IT (information technology), availability of medical devices at nominal prices, transforming medical technology landscape, rising trade initiatives and government investments, increasing aging population, establishment of various manufacturing facilities in Brazil, creation of advanced ultrasound having assorted applications and developing healthcare infrastructure.
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On the contrary, high sales tariffs, soaring price of imported medical devices, low penetration of medical devices, challenging regulatory environment in case of approval, sales and import of medical devices, political turmoil, poor regulatory framework and differential connectivity especially in inaccessible regions in Brazil are factors that are impeding the growth of the Brazil medical devices market.
Brazil Medical Devices Market Key Players
Leading players profiled in the Brazil medical devices market include St. Jude Medical Inc. (USA), Siemens AG (Germany), Koninklijke Philips Electronics NV. (Netherlands), Medtronic (USA), Johnson & Johnson (USA), Hitachi Medical Corporation (Japan), General Electric (USA), Fresenius Medical Care AG & Co. (Germany), Cardinal Health (USA), Boston Scientific Corporation (USA), Baxter International (USA), and others.
Brazil Medical Devices Market Segmentation
MRFR report offers a broad segmental analysis of the Brazil medical devices market on the basis of end users, therapeutic application and product type.
Based on end users, the Brazil medical devices market is segmented into hospitals, homes and ambulatory.
Based on product types, the Brazil medical devices market is segmented into stimulation devices, surgical devices, robotics, monitoring devices, molecular diagnostic devices, drug delivery devices, diagnostic devices, bioimplants, automation and others.
Based on therapeutic application, the Brazil medical devices market is segmented into respiratory applications, orthopedics application, ophthalmology, neurology application, nephrology and urology application, general surgery application, ear-nose-throat, diagnostic imaging application, dental application and cardiovascular application.
Brazil Medical Devices Market Regional Analysis
Brazil being the biggest economy in South America has a healthcare sector that is categorized into private and public. Here the local manufacturing has a poor outlook that is restricted to ordinary articles and consumables. Besides, when it comes to high-tech device manufacturers the number here is a just a handful. Brazil imports a huge chunk of medical devices from different countries.
Approximately 75% of imports in Brazil are medical devices. The US is the largest supplier of such devices to Brazil which is followed by China and India. Though the availability of regional healthcare is different all across Brazil along with the Brazilian population’s socio-economic differentiation being huge, Sau Paulo, Rio de Janeiro, Parana, Minas Gerais and Bahia, top the list in healthcare expenditure. A good number of international leading players in the medical devices market play an imperative part in the Brazil medical devices market as well.
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