Recently published research from Business Monitor International, "Brazil Pharmaceuticals & Healthcare Report Q1 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 02/01/2013 -- BMI View: The Brazilian pharmaceutical market remains our favourite regional market in Latin America due to its large market size and strong domestic demand for innovative, high-tech products. The government is increasingly investing in the healthcare sector and pharmaceutical industry to reduce the financial burden of diseases, and the country's private healthcare sectors provide opportunities for foreign companies. However, the increasing drug rebate level has significantly undermined the profits recorded by generic drugmakers. The more aggressive government techonology transfer deals with multinationals as well as the drug approval delays due to bureaucracy and staff shortages at ANVISA have also dampened multinationals' revenue-generating opportunities
Headline Expenditure Projections
- Pharmaceuticals: BRL48.10bn (US$28.72bn) in 2011 to BRL51.76bn (US$25.88bn) in 2012; +7.6% in local currency terms and -9.9% in US dollars terms. Forecast down from Q412 due to less optimistic industry projections.
- Healthcare: BRL378.63bn (US$226.04bn) in 2011 to BRL416.46bn (US$208.23bn) in 2012; +10.0% in local currency terms and -7.9% in US dollars. Forecast upwards from Q412 due to more optimistic historical data.
- Medical Devices: BRL7.45bn (US$4.45bn) in 2011 to BRL8.31bn (US$4.15bn) in 2012; +11.5% in local currency terms and -6.6%% in US dollars terms. Forecast revised downwards from Q412 due to analyst intervention.
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Risk/Reward Rating: Brazil's position in the Americas Pharmaceutical Risk/Reward Rating (RRR) system - which ranks markets according to attractiveness to multinational drugmakers - has remained in fifth place for Q113. Brazil is no longer as prominent as it once was in the Latin American region, particularly now the outlook for Mexico is more optimistic. BMI's RRR ranking in Q113 highlights an opportunity for multinational drug companies to re-evaluate their long-term regional strategy in Latin America if further significant changes occur.
Key Trends And Developments
- In October 2012, BMI revised down Brazil's pharmaceutical market size and its growth rate. The increasing number and extent of drug rebates in Brazil's pharmaceutical market has significantly undermined the profit recorded by drugmakers, reduced the overall market value and lowered market growth prospects. Generic drugmakers have been particularly hard hit by these rebates. However, we still believe that Brazil's pharmaceutical market remains the most attractive to multinationals in Latin America, because the large patented drug subsector (the most profitable part of the industry) is the least affected by these rebates, due to the non substitutable nature of medicines with intellectual property protection. In addition, drug prices in Brazil are still increasing steadily, while medicine prices have stagnated or even fallen in many developed countries.
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