Injectable drugs are used for the direct administration of medicines into the body, which allows faster absorption of drugs and immediate systemic effects. The increasing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases has accelerated the demand for injectable drugs in Brazil. Brazil has a high incidence of cancer, with breast cancer and prostate cancer being the most common types of cancer. Furthermore, the change in lifestyle and increasing geriatric population are contributing to the rising disease burden.
The global Brazil Injectable Drugs Market for Hospitals & Ambulatory Settings is estimated to be valued at US$ 9353.45 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of chronic diseases is one of the key factors driving the growth of the Brazil injectable drugs market. Chronic diseases require long-term medication to manage the conditions effectively. Injectable drugs allow for controlled and sustained release of medication into the body over an extended period. This enhances treatment efficacy and compliance for chronic diseases. Moreover, self-injectable drug delivery devices have gained popularity as they allow patients to conveniently administer drugs at home. The rising demand for self-administered injectable drugs and devices is expected to push the market growth over the forecast period. Advancements in drug delivery technologies are also helping expand the indications for injectable drugs and facilitate development of novel drug formulations with reduced side effects.
Segment Analysis
The Brazil Injectable Drugs Market for Hospitals & Ambulatory Settings is dominated by the large volume injectable (LVI) sub-segment, accounting for nearly 60% market share in 2023. LVIs are mainly administered in hospitals and offer several advantages such as accurate and precise dosing, ease of administration through intravenous injections, and quick onset of action. The growing incidence of chronic diseases such as cancer, diabetes and cardiovascular disorders which require long-term treatment through injectables is driving the growth of this sub-segment.
Key Takeaways
The global Brazil Injectable Drugs Market Demand for Hospitals & Ambulatory Settings is expected to witness high growth over the forecast period from 2023 to 2030. The global Brazil Injectable Drugs Market for Hospitals & Ambulatory Settings is estimated to be valued at US$ 9353.45 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030.
Regional analysis:
The Brazilian market is expected to dominate regionally, growing at a CAGR of 5.2% during the forecast period. The high prevalence of chronic diseases and improving healthcare infrastructure are fueling market growth in Brazil. Improvements in hospital infrastructure and growing affordability are also supporting the growth of ambulatory surgery centers in the country.
Key players: Key players operating in the Brazil Injectable Drugs Market for Hospitals & Ambulatory Settings are Amcor Limited, Bemis Company, Sealed Air Corporation, Berry Plastics Group, Inc., Mondi Group, Sonoco Products Co., Huhtamäki Oyj, Constantia Flexibles Gmbh, Ampac Holdings, Llc, Bischof + KleinInternational, Wipak Group, AR Packaging, Goglio Group, Schur Flexibles, Clondalkin Group, Flair Flexible Packaging Solution Cellpack Packaging, and SÃ1⁄4dpack Verpackungen. These players are focusing on new product launches and expanding their presence in the Brazilian market through collaborations with local players.
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