Countries covered: Brazil
Espicom’s in-depth medical device market reports are ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts.
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Brazil has the largest medical device market in Latin America, but per capita medical expenditure is still very low. The market has grown in local terms but fallen in dollar values. The highest expenditure is in the large cities, such as Sao Paulo or Rio de Janeiro, but producers are moving into regional markets outside the major state capitals. Consumables and orthopaedic & implantable products are the largest medical sectors, followed by diagnostic imaging apparatus, dental products and other medical products.
The shape of the diagnostic imaging sector is expected to change following recently announced manufacturing investments. GE Healthcare will be installing a local manufacturing plant in 2009, the first for the company in South America. Siemens Healthcare locally manufactures X-ray equipment since 2001 but plans to build a new plant for two new product lines, one of them being mammography equipment, in 2009. Philips Healthcare inaugurated the first Latin American plant for the production of MRI equipment in Brazil in October 2008.
Imports hold a relatively small share of the market and tend to concentrate on high-tech medical equipment which is not produced locally due to a lack of capabilities. According to the Brazilian Association of Medical, Dental, Hospital & Laboratory Devices and Equipment (ABIMO), around 60% of imports are supplied by Europe and the USA, whilst the remaining 40% come from Asia and the Pacific region. The economic slowdown and a more “realistic” exchange rate in 2009 are expected to contain medical imports.
The country has a well-established medical industry, comprising local and multinational companies. Domestic production, however, is geared towards the local market and exports are comparatively low. ABIMO expects medical exports to reach US$600 million in 2009, but this might be a too ambitious target following the results obtained in 2008. Exports are small in comparison with total production and the country consistently runs a negative balance of trade in medical equipment and supplies.
The expansion of the private health insurance sector in recent years has resulted in demand for better medical care and, in turn, further expenditure in medical equipment. The slow economic downturn has not affected hospital capital investments so severely yet. However, private hospitals are expected to draft their budget for the new fiscal year in the second half of 2009, and it is then when some cuts in hospital investments might follow. The public sector continues to be modernised and upgrade obsolete equipment, therefore there are sizeable market opportunities if prices are competitive.
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