The pharmaceutical industry in Brazil has seen steady growth in the past few years. The pharmaceutical and healthcare market in Brazil is the biggest in Latin America. The Brazilian pharmaceutical market is also one of the most attractive markets in the American region, drawing investments worldwide where generic products dominate the industry.
As per the international trade administration (ITA), Brazil ranks among the top seven markets in size for drugs and pharmaceuticals, with sales of US$ 17.5 billion in 2019. Further, Brazil is the largest healthcare market in Latin America and spends 9.1% of its GDP on healthcare.
As the world’s sixth most populous country, Brazil represents an enormous market opportunity in Latin America for multinational pharmaceutical companies. However, several midsize companies find it challenging to venture into the country as the domestic pharmaceutical companies in Brazil hold a significant share of the overall market in the country.
Statistical figures of growth of the pharmaceutical industry in Brazil:
The pharmaceutical market in Brazil is predicted to reach $29.9 billion in 2021 with a growth rate of 3.5%, according to research and consulting firm GlobalData, published in the article of PharmExec.
Global pharmaceutical companies are highly interested in investing in this vast and growing market. However, this opportunity may present a significant challenge when helming through the complex Brazilian regulatory process.
Regulatory Agency ANVISA:
ANVISA is the counterpart of the FDA and regulates all health-related products. The Brazilian Health Regulatory Agency (Anvisa) is an autarchy linked to the Ministry of Health, part of the Brazilian National Health System (SUS) as the coordinator of the Brazilian Health Regulatory System (SNVS), present throughout the national territory.
Anvisa’s role is to promote the protection of the population’s health by executing sanitary control of the production, marketing, and use of products and services subject to health regulation, including related environments, processes, ingredients, and technologies, as well as the control in ports, airports, and borders.
Impact of the Covid 19 Pandemic on the country:
Brazil is one of the worst COVID-affected countries in the world. In addition, the Brazilian government has been severely criticized for its handling of the pandemic. Nevertheless, the Brazilian authorities have started taking unprecedented measures to tackle the drug shortages and manage the pandemic. For example, the government has given fast-track approvals to COVID-related drugs, desktop GMP clearance to manufacturing facilities, and special import authorization to products manufactured outside Brazil. As a result, in March 2021, Brazilians began receiving the first dose of the COVID-19 vaccine.
Prominent players in the pharmaceutical market of Brazil:
As per the article of PharmaBoardroom, six of the top ten companies in the Brazilian pharma market are domestic. Some of the prominent players in the pharmaceuticals market of Brazil include:
- EMS Pharma
- NEO Quimica
- Mantecorp Farmasa
- Biolab-Sanus Farma
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