Global players create opportunities in Brazil by setting up medical devices manufacturing facilities
The Brazilian medical devices industry is stable despite economic stagnancy and is gradually growing. The key aspects, which helped the industry to sustain under adverse conditions and are still helping its growth, included the improving medical technology landscape encouraging the launch of innovative products, rising aging population and increase in government investments & trade initiatives. Along with these factors, developing healthcare infrastructure and establishment of manufacturing facilities in the country by global players are creating opportunities in the market. The establishment of advanced ultrasound manufacturing facilities has contributed significantly. However, high prices of imported medical devices, high sales duty, strict regulatory norms for approval, import and sales of medical devices and low penetration of these devices in Brazil are the factors, which may limit the market growth. The major global players operating in the Brazilian market are GE Healthcare, Philips Healthcare, Medtronic, Boston Scientific, St. Jude Medical, Toshiba Medical Systems, Mindray Medical, Hitachi Medical, Abbott and Siemens Healthcare.
(Image courtesy: Ansys)