Pharmaceuticals - Brazil

Brazil

The revenue generated in the Pharmaceuticals market in Brazil is projected to reach €18.80bn in 2024.
Among the various markets, Oncology Drugs is expected to be the largest, with a projected market volume of €3.20bn in 2024.
Looking ahead, the revenue is anticipated to grow at an annual rate of 4.71% (CAGR 2024-2029), resulting in a market volume of €23.67bn by 2029.
In a global comparison, it is noteworthy that United States is expected to generate the highest revenue, amounting to €578.50bn in 2024.
Brazil's pharmaceutical market is experiencing a surge in demand for generic drugs due to increasing healthcare costs.

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

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Analyst Opinion

The Pharmaceuticals market in Brazil has been experiencing significant growth in recent years.

Customer preferences: Brazil has a large population, and as such, there is a high demand for pharmaceutical products. Customers in Brazil tend to value affordable healthcare, which has led to an increase in the consumption of generic drugs. Additionally, the aging population in Brazil has contributed to the growth of the pharmaceutical market, as older individuals tend to require more medication.

Trends in the market: One major trend in the Brazilian pharmaceutical market is the increasing demand for generic drugs. This trend is driven by the country's universal healthcare system, which prioritizes cost-effective treatments. Another trend is the growing focus on research and development, as Brazilian pharmaceutical companies seek to innovate and bring new products to market. Additionally, there has been a rise in mergers and acquisitions, as companies look to expand their market share and gain a competitive edge.

Local special circumstances: Brazil has a complex regulatory environment for pharmaceuticals, which can pose challenges for companies looking to enter the market. Additionally, the country has a high tax burden, which can impact the affordability of drugs for consumers. Another local circumstance is the prevalence of counterfeit drugs, which can be a significant issue in Brazil and can impact consumer trust in the pharmaceutical industry.

Underlying macroeconomic factors: Brazil is the largest economy in Latin America, and as such, has a significant impact on the region's pharmaceutical market. The country has experienced economic instability in recent years, which has led to fluctuations in the pharmaceutical market. Additionally, Brazil has a large and growing middle class, which has contributed to the growth of the pharmaceutical market. Finally, the country's universal healthcare system plays a significant role in shaping the pharmaceutical market, as it prioritizes cost-effective treatments and drives demand for generic drugs.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.