The Brazil injectable drugs market is primarily driven by the increased healthcare awareness among the populace, rapidly growing geriatric population, rising prevalence of chronic diseases like cancer, cardiovascular diseases, and diabetes and heavy influx of generic drugs. The injectable drug delivery offers advantages like quick absorption and immediate therapeutic effect over oral drugs. The injectable formulations also avoid drug loss due to hepatic first-pass metabolism or gastrointestinal drug breakdown. The key market players are focusing on developing long-acting and biosimilar injectable drugs for various therapeutic areas.
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 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. The major players are focusing on research and development activities for developing innovative long-acting and biosimilar injectable drugs. For instance, in February 2021, Thermo Fisher Scientific launched single-use microcarrier for cell therapy and bioprocessing applications.
The growing demand for self-administered injectable drugs and pen systems is expected to drive the market growth during the forecast period. Self-administered drugs enable patients to treat chronic conditions at home with prefilled syringes and auto-injectors. Biosimilar injectables and long-acting injectables also offer patient convenience and better treatment compliance.
The increasing trade relations between countries is expected to boost the Brazil injectable drugs market globally. Manufacturers are focusing on expanding their distribution networks across Latin America and other emerging markets. Favorable regulatory environment and government support for local pharmaceutical production are also fueling the Brazil injectable drugs market growth.
Market drivers
The primary growth driver for the Brazil injectable drugs market is the rising geriatric population. As per WHO, geriatric population aged above 65 years in Brazil is projected to double from 22 million in 2025 to 44 million by 2050. Elderly people are more susceptible to chronic diseases like diabetes, cardiovascular diseases, arthritis requiring long-term injectable drugs. Growing incidence of cancer owing to lifestyle changes and rising healthcare expenditure of people are also propelling the demand of injectable drugs in Brazil.
The rising political instability and worsening economic conditions in Brazil owing to the ongoing Russia-Ukraine war and continuing Covid-19 pandemic recovery are adversely impacting healthcare spending in the country. The high inflation rate and currency fluctuations have increased operational costs for pharmaceutical companies in Brazil. This is forcing many drug makers and medical product suppliers to raise prices of injectable medications, which is weakening demand from cash-strapped public and private hospitals as well as individual patients. Furthermore, supply chain bottlenecks caused by the war have disrupted timely availability of essential raw materials for some injectable drugs. This interruption in stable supply is hindering consistent treatment of patients.
To overcome such obstacles posed by the volatile geopolitical environment, companies in the Brazil injectable drugs market need to devise prudent business strategies. Partnerships with local pharma firms can help gain a deeper understanding of the ground realities and devise pricing and distribution policies accordingly. Investing in alternative sourcing and local manufacturing of key ingredients can boost supply resilience. Pharmaceutical players also require exploring avenues to broaden healthcare insurance coverage and make collaborative arrangements with public insurers to gain steady revenues. Co-production agreements for generics with a longer shelf life can aid affordable treatment. With appropriate interventions, the market is expected to get back on the projected growth trajectory in coming years.
In terms of value, Southeast region including states of Sao Paulo, Rio de Janeiro and Minas Gerais hold the largest share in the Brazil injectable drugs market. This is owing to the high concentration of private healthcare facilities as well as population in these economically advanced states. Additionally, Northeast region states such as Bahia, Pernambuco and Ceará are emerging as fast growing regional markets. This is attributable to government initiatives to augment public hospital infrastructure and expand health insurance schemes in rural and underdeveloped areas over there.
Amongst all the regions, Northeast area of Brazil is expected to witness fastest value growth in the injectable drugs market during 2024-2030. This is because of ongoing universal healthcare projects and rising investments by Chinese pharmaceutical majors to cater to the expanding medical needs of northeastern population. Favorable regulatory support is also boosting local production of affordable biologics and vaccines in this region. If the government further strengthens public delivery channels and medical workforce availability, the Northeast area has high potential to become a frontrunner in the national injectable drugs market.
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