 |
| Brazil injectable drugs market |
The Brazil injectable drugs market for hospitals & ambulatory settings has
been witnessing significant growth owing to the growing adoption of biologics
and biosimilars. Injectable drugs offer several advantages over orally
administered drugs such as immediate drug action, better absorption, higher
bioavailability with lower dosage, and improved patient compliance. They are
widely used for treating chronic diseases like cancer, diabetes, rheumatoid
arthritis, neurological disorders among others. The injectable drug delivery
market is also driven by technological advancements in prefilled syringes,
auto-injectors, and pen injectors that reduce the complexity of drug
administration and improve ease of use.
The Brazil injectable drugs market for hospitals & ambulatory settings is
estimated to be valued at US$ 10775.18
Bn in 2024 and is expected to
exhibit a CAGR of 7.8% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Brazil injectable drugs market for hospitals &
ambulatory settings are Danaher Corporation, Agilent Technologies, Thermo
Fisher Scientific, CELLINK, Sony Corporation, Merck KGaA, Stratedigm Inc.,
Sysmex Partec GmbH, Bio-Rad Laboratories, Miltenyi Biotec, Predictive Health
Diagnostics Company, Inc., ZEISS Group International, Lambert Instruments,
Nikon Instruments Inc., Leica Microsystems, and Nikon Corporation. These
players are focusing on new product launches, mergers, acquisitions, and
partnerships to strengthen their presence in the market.
The key opportunities in the Brazil injectable drugs market include growing demand
for biosimilars and biologics for cancer therapy. The expiry of patents of
biologic drugs is also providing opportunities for biosimilar drugs in the
market. Additionally, the growing prevalence of chronic diseases like diabetes,
cardiovascular disorders, and neurological diseases are fueling the demand for
injectable drugs in Brazil.
Brazil
Injectable Drugs for Hospitals & Ambulatory Settings is expected to
witness significant global expansion due to growing healthcare infrastructure
and improvement in access to healthcare facilities across the country. The
government efforts to reduce healthcare costs by favoring generics over branded
drugs will also contribute to the market growth. Major players are focusing
their expansion strategies on Brazil to leverage the high growth potential.
Market drivers
Growing burden of chronic diseases due to changing lifestyles and rising
geriatric population is a major driver for the Brazil injectable drugs market.
According to statistics, chronic diseases account for over 70% of all deaths in
Brazil each year. Some other key drivers include increasing healthcare
spending, rising patient awareness regarding injectable drugs, advancements in
injection drug delivery devices and convenient packaging.
Market restraints
High cost of drug development, packaging and clinical trials are key restraints
for the Brazil injectable drugs market. Additionally, stringent regulations for
drug approval, safety issues pertaining to injectable drugs, and healthcare
reform pressures are challenging factors for market players. Advent of
alternative oral drug delivery methods also impacts the growth trajectory of
the injectable drug market in Brazil to some extent.
Segment Analysis
The Brazil injectable drugs market for hospitals & ambulatory settings can
be segmented into generic injectable drugs and branded injectable drugs. The
generic injectable drugs segment is currently dominating the market owing to
the lower costs of generic drugs. The patients are increasingly opting for
generic medications over branded medications due to their lower prices. This
has resulted in higher market share and sales for generic injectable drugs in
Brazil.
Regional Analysis
The Brazil injectable drugs market for hospitals & ambulatory settings is
currently dominated by the Southeast region of Brazil. The states of Sao Paulo
and Rio de Janeiro have the highest concentration of hospitals, clinics, and
patients in Brazil. Due to advanced healthcare infrastructure and high per
capita healthcare expenditure in these states, the demand for injectable drugs
is the highest. Additionally, the presence of key pharmaceutical companies in
Southeast Brazil is also driving the growth of the injectable drugs market in
this region. However, the Northeast region of Brazil is expected to witness the
fastest growth during the forecast period due to ongoing improvement in access
to healthcare in this region.
Get More Insights On This Topic: Brazil
Injectable Drugs Market