May 18, 2024
Brazil Injectable Drugs Market for Hospitals & Ambulatory Settings

The Growing Healthcare Expenditure Is Driving The Brazil Injectable Drugs Market For Hospitals & Ambulatory Settings

Injectable drugs offer convenient mode of drug delivery for administering medication to hospitals and ambulatory settings in Brazil. Demand for injectable drugs is growing owing to increasing prevalence of chronic diseases such as cancer, diabetes and autoimmune disorders. A large number of therapeutic injections help in fighting severe health conditions that cannot be effectively treated with oral medications. In 2021, the Brazilian government spent approximately 10% of its GDP on healthcare. This is projected to rise to 14% by 2030 with the aim of improving access to advanced treatment options.

The Brazil Injectable Drugs Market for Hospitals & Ambulatory Settings is estimated to be valued at US$ 10775 million in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Approval and launch of biosimilar drugs is one of the major trends witnessed in the Brazil injectable drugs market. Biosimilar drugs are similar to innovative biologics in terms of safety, purity, and potency. Biosimilar drugs offer significant cost savings compared to reference biologics and thus help expand treatment access. For instance, in September 2022, Fresenius Kabi launched the biosimilar drug Inflectra (infliximab) for the treatment of several autoimmune diseases including rheumatoid arthritis and inflammatory bowel disease. The significant cost reduction of 30-50% with biosimilars compared to reference drugs is expected to positively impact market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: The Brazil Injectable Drugs Market for Hospitals & Ambulatory Settings has moderate to high barriers to entry due to stringent regulations, complex manufacturing processes, and dominance of key established players.

Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of generic alternatives and large presence of hospitals and ambulatory surgery centers that can demand competitive prices.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as the market landscape comprises several raw material suppliers and drug manufacturers.

Threat of new substitutes: The threat of new substitutes is low as injectable drugs have fewer viable alternatives for treatment of various diseases compared to oral drugs.

Competitive rivalry: The competitive rivalry is high among the major players due to their vast product portfolio and distribution networks.

Key Takeaways

The Brazil Injectable Drugs Market for Hospitals & Ambulatory Settings Share is expected to witness high growth. The Brazil Injectable Drugs Market for Hospitals & Ambulatory Settings is estimated to be valued at US$ 10775 million in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031.

Regional analysis related content comprises The Brazil Injectable Drugs Market for Hospitals & Ambulatory Settings possesses high growth potential owing to rising healthcare expenditure, increasing disease prevalence, aging population, and expanding penetration of health insurance in the region.

Key players operating in the Brazil Injectable Drugs Market for Hospitals & Ambulatory Settings are Teva Pharmaceutical Industries Ltd., Sanofi, Pfizer Inc., Novartis AG, and Fresenius SE & Co. KGaA.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it