Brazil Medical Devices Market Size, Growth and Statistics By Therapeutic Application, Product Type (Monitoring Devices, Diagnostic Devices, Diagnostic Molecular Devices, Drug delivery Devices, Surgical Devices, Bio Implants and Stimulation Devices, Automation and Robotics), Top Key Players and Region, Forecast To 2023
Market Statistics
Brazil Medical Devices Market size was valued USD 1.1 billion in 2017 and is expected to reach USD 1.8 billion at a CAGR of 9% by 2023. The proliferation of medical sector and facilities drive the growth of the 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 industry. 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 Brazil medical devices market is growing substantially, offering substantial growth opportunities for global players.
Request Free Sample Report at: https://www.marketresearchfuture.com/sample_request/2869
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.
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 Brazil 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 Major Players:
Players leading the brazil medical devices Industry include
General Electric
Johnson & Johnson
Medtronic
Baxter International
Koninklijke Philips Electronics NV.
Fresenius Medical Care AG & Co.
Boston Scientific Corporation
Cardinal Health
Jude Medical Inc
Siemens Ltd
Hitachi Medical Corporation
Brazil Medical Devices Market Segmentation:
The brazil medical devices market is segmented by
Product Type
Therapeutic Application
End-users
Based on Product Type the global brazil medical devices market is segmented into
Monitoring Devices
Diagnostic Devices
Diagnostic Molecular Devices
Drug Delivery Devices
Surgical Devices
Bio implants & Stimulation Devices
Automation & Robotics
Based on Therapeutic Application, the global brazil medical devices market is segmented into
General Surgery
Diagnostic Imaging
Respiratory
Orthopedics
Cardiovascular
Dental
Neurology
Ophthalmology
Ear-Nose-Throat (ENT)
Nephrology & Urology
By End-users, the global brazil medical devices market is segmented into
Hospitals
Ambulatory
Home
Brazil Medical Devices Market Regional Analysis:
São Paulo
Minas Gerais
Bahia
Rio de Janeiro
Parana
Rest of Brazil
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 Brazil 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.
Browse Full Research Report At: https://www.marketresearchfuture.com/reports/medical-devices-market-2869
Table Of Content:
Introduction
Research Methodology
Market Dynamics
Brazil Medical Devices Industry Factor Analysis
Brazil Medical Devices Market By Product Type
Brazil Medical Devices Industry By Therapeutic Application
Brazil Medical Devices Market By End User
Company Landscape
Company Profile
List Of Tables
List Of Figures
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/medical-devices-market-2869