5 Key Growth Areas in Brazil’s Healthcare Market for 2021
As we look ahead to 2020, it’s challenging to predict which healthcare sectors offer the most potential in 2021 as companies look to recover lost ground. Given Brazil’s status as the largest hospital market in Latin America (with more than 7,416 hospitals), it will obviously be a crucial area of focus for medical equipment/devices manufacturers.
As such, below we combine data from GHI’s resources (primarily HospiScope) and outside sources to highlight some healthcare sectors in Brazil that should have strong growth potential in 2021 and beyond.
#1 Diagnostic Imaging Equipment
The Brazilian market for diagnostic imaging equipment (X-ray machines, MRI machines, CT scanners, ultrasound machines, thermography, photoacoustic imaging, echocardiography and nuclear medicine) has a projected CAGR of 5.75% between 2019 and 2026, according to Data M Intelligence.
GHI’s HospiRank 2020 report has more conservative projections for imaging equipment in Brazilian hospitals, including:
- CT Scanners: 2% CAGR, 2019-2023
- Ultrasound machines: 6% CAGR, 2019-2023
- X-ray machines: 2% CAGR, 2019-2023
#2 Basic Equipment
Based on tracking the Brazilian hospital market for nearly a decade, GHI’s HospiRank 2020 report projects significant growth for certain types of basic medical equipment in Brazil, such as:
- Ventilators: 9% CAGR, 2019-2023
- EKG machines: 7% CAGR, 2019-2023
- Infusion pumps: 6% CAGR, 2019-2023
#3 Healthcare Startups
According to the consulting firm Distrito, the number of healthcare startups in Brazil grew by 118% between 2018 and 2020, from 248 to 542. These startups provide a variety of services, including electronic medical records, telemedicine, medical devices, access to information, marketplaces and AI/Big Data. More information on this can be found in Distrito’s HealthTech Report 2020, found here.
A recent article in Exame highlighted the growth of telemedicine in Brazil in 2020, which, not surprisingly, was spurred by the COVID-19 crisis. The article included the example of the telemedicine startup Conexa, which reported to Exame that it went from treating 50 patients a day before the crisis to 15,000 per day. Exame indicates that the Brazilian user population for telemedicine increased from 150,000 in January 2020 to 3.5 million, though it does not cite a specific source for this data. Exame also states that, according to data it has compiled (though it does not specify the data sources or methodology), at least 1.7 million telemedicine consultations have been performed in Brazil this year. Without direct sources and methodological information, we should be cautious in weighing these figures. On the other hand, the devastation wrought by COVID-19 thus far in Brazil (6.4 million cases and 174,515 deaths as of December 3, 2020) would suggest that telemedicine should definitely expand in 2021 as the country struggles to control the pandemic as best as it can.
#5 Renal Dialysis Equipment
According to Data M Intelligence, the renal dialysis market in Brazil is expected to grow with a CAGR of 5.8% between 2020 and 2027. While GHI does not track all types of renal dialysis machines in Latin American hospitals, the company’s HospiRank 2020 report indicates that hemodialysis machines will grow by 4% in Brazilian hospitals in 2021 and have a CAGR of 3% between 2019 and 2023.
Go Deeper to Drive Your Decisions
While these numbers are helpful at a basic level, a much more thorough dive into the Brazilian market is what will help medical devices/equipment companies make decisions about product launches, calculating demand, areas of investment and more. GHI can quickly fill your company’s gaps in business or market intelligence in a variety of ways, including:
We can also conduct a custom study that will give your team the specific answers it needs to refine its planning and vastly improve your possibilities for success in 2021.