LONDON, Dec. 19, 2016 /PRNewswire/ -- Brazil is considered as one of the most lucrative healthcare market in Latin America, with consistent ranking amongst the top five global destinations for medical tourism. The country attracts a variety of medical tourists to take advantage of the successful and world-renowned cosmetic surgery industry. Growing demand for private healthcare has helped fuel a boom in the sector, which remains dominated by local players and has recently witnessed a number of mergers as many seek to capitalize on higher demand and consolidate their positions.
According to our report, "Brazil Healthcare Market Outlook 2020", with better standards of living, the healthcare expenditure in the country has been rising continuously which is driving the healthcare industry. Among the healthcare sectors, the pharmaceutical market in the country witnessed tremendous growth, especially Prescription drugs market that enjoyed lion's share of nearly 50% in 2015. However, the generics drug segment is forecasted to do well in future. With several factors, such as increasing patent expiries and greater generic company involvement in Brazil, the segment is anticipated to be the main factor for growth of the pharmaceutical market in the country. Besides, innovation and improvements in the medical equipment sector have been consistent in Brazil.
Healthcare spending in the country is anticipated to grow at a CAGR of around 5.8% during 2016-2020. The main factors behind the high healthcare expenditure include the prevalence of various diseases in the country, like hypertension. Other major prevalent diseases covered in the report include cancer, tuberculosis, obesity and diabetes.
As per our findings, the future outlook of Brazil healthcare IT-industry is quite optimistic as the IT segment has witnessed significant mergers and acquisition in 2015. The world's leading healthcare IT companies are also looking towards Brazil as an ideal destination for their business expansion. Brazil passed a new law allowing foreign companies to invest capital in private hospitals for the first time, a move expected to appeal to those eager to capitalize on high demand for private healthcare in the country, and bring much-needed funding to the sector. Investors from all over the globe are eager to invest in the country's healthcare sector. For instance, India based drugmaker, Lupin, has acquired Medquímica Indústria Farmacêutica, a Brazilian branded generics and OTC maker, expanding its presence in Latin America through Brazil.
Our report provides an in-depth research and analysis of the key segments, namely Hospital Services Industry, Pharmaceutical Industry, Medical Devices Industry, Healthcare IT industry, and other emerging market segments. It also highlights the current industry trends; presenting the key driver and foreign investments to enable clients understand the market structure and its prospective during the forecasted period. The report also covers detailed information about the active market players in hospital services, pharmaceutical, medical devices and healthcare IT-sector.
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