New York, NY (PRWEB) November 06, 2013
Brazil's in vitro diagnostic test market economic growth exceeded 1 billion in 2012 and will grow to 1.4 billion by 2017, according to Kalorama Information. A growing economy has fueled demand for new services, according to the healthcare market research firm's latest report on the industry. Growth in Brazil far exceeds growth in the world market for IVD, according to Kalorama's new report, “IVD Market in Brazil.”
Brazil is the fifth largest country in the world, after Russia, Canada, China and the United States. The size of the country has made it a focus for IVD companies.
"You could fit the entire European Union into Brazil and have room to spare,” said Bruce Carlson, Publisher of Kalorama Information. “There are 200 million citizens eager for the best care, and testing is a logical starting point for any system.”
The report says that all of the major IVD companies and many innovators have set up shop in the BRIC countries for some time. They share the market with a growing cohort of indigenous manufacturers and partners. The market is dominated by a few international companies, but there are local alternatives making reagents and instruments as well.
Though large international companies are present, Kalorama describes how the Brazilian IVD market offers interesting growth opportunities due to increasing healthcare, a higher number of private hospitals and rising income levels. Particular opportunities are present in the cities of Sao Paulo, Rio de Janeiro, Belo Horizonte, Porto Alegre, Brasilia, Salvador, Recife, Fortaleza and Curitiba.
"Entrants should be forewarned that Brazil is not a new market," Carlson said. "But there is opportunity, especially in niche areas and niche segments."
The report says that products in demand include automated clinical laboratory systems, molecular test reagents, rapid microbiological tests, tumor markers and other products.
This report, “IVD Market in Brazil,” was developed by Kalorama in conjunction with VA Consultora y Asociados, a Latin America-based life sciences market research firm. The report provides market estimates and forecasts for the main categories of in vitro diagnostics, and forecasts those markets to 2017. Information was obtained by both primary and secondary sources. Annual reports, trade publications, as well as telephone and email surveys of IVD manufacturers operating in Brazil were utilized to construct market estimates. The report can be found at: http://www.kaloramainformation.com/IVD-Brazil-7785115/.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog.