Brazil is amongst the top 10 pharmaceutical markets in the world with a market share of 3%. Brazil is one of the most attractive markets in the world. In Latin America, it is the main market, ahead of Mexico (USD 5.4 billion) and Argentina (USD 5.4 billion).
The market is dominated by sales of new medicines and biologicals, which comprise more than 40 percent of the revenue. Generic drugs, in comparison, accounted for only 13 percent of it.
Brazil's Pharmaceutical Market Value Will Approach $48 Billion. The Brazilian pharmaceutical market will expand in value from $29.4 billion in 2014 to reach approximately $47.9 billion by 2020, representing a strong Compound Annual Growth Rate (CAGR) of 8.5%, according to research and consulting firm GlobalData.
In 2017, the national drug market was comprised of 241 pharmaceutical companies, which were regulated and priced at CMED, thus being authorized to market drugs. Of the 241 companies, 97 (40%) were MNCs and 144 (60%) are domestic companies.
The sustained growth of the Brazilian pharmaceutical market has been nurtured by many different factors, which notably include particularly rapid demographic and epidemiological transitions. The increasing elderly population will lead to rising lifestyle and chronic diseases, as well as country’s investment in healthcare will be key drivers of market growth.
According to Senior Experts the Brazilian pharma market will continue to prosper because of country’s economic policies and reforms. Brazil has emerged has global manufacturing hub for pharmaceutical and biotechnology companies. Brazil is also witnessing rapid growth in generic drug market.