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Market Research Estimates the Brazilian Medical Market at $4 Billion(June 12, 2012)
ROCKVILLE, MD -- (Marketwire) -- 06/12/12 -- MarketResearch.com has announced the addition of the new report "The Outlook for Medical Devices in Brazil, Russia, India & China," to their collection of Medical Devices market reports. For more information, visit http://www.marketresearch.com/Espicom-Healthcare-Intelligence-v1129/Outlook-Medical-Devices-Brazil-Russia-6964419/
With a combined population of 2.7 billion people and with significant unmet medical need, the challenges and opportunities of the BRIC markets are considerable. The economic downturn has affected these markets varyingly; for example, the Brazilian import market may be affected by disadvantageous US$ exchange rates, but China is affected more by a weak economy in the USA, its major market. Significant growth rates, up to 9.1% in China for example, are impressive, but the low starting point -- along with a range of other operational issues -- means companies must be targeted in the opportunities they pursue.
There are, of course, wide regional differences in expenditure levels within the BRIC countries, far more so than in developed countries where health systems have evolved to provide a more uniform level of coverage. All four countries have a relatively wealthy urban population with a far greater spending power than their respective national average. These urban populations have grown rapidly, and number hundreds of millions. The challenge for these countries is to extend this level of wealth to the rest of the population, in order that better levels of healthcare become affordable.
Brazil has the largest medical device market in the Latin American region. In 2011, the Brazilian medical market is valued at US$4.0 billion equivalent to around US$21 per capita. Expenditure is far higher in developed urban areas, however. The country has a well established medical industry, comprising local and multinational companies. Imports had been fuelled by the appreciation of local currency against the dollar and increasing consumer demand for the latest technology. However, a more realistic exchange rate contained medical imports in 2009. Imports tend to be high-tech medical equipment not produced locally. In 2009, 68% of imports were supplied by Europe and the USA. More opportunities exist in the private sector.
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