Injectable drugs administration through various routes such as intravenous, intramuscular and subcutaneous injection offers advantages such as rapid onset of action and direct targeted delivery of drugs. Injectable drugs are widely used across therapeutic areas including pain management, oncology, cardiovascular diseases and infectious diseases. The growing prevalence of chronic diseases and infections is propelling the demand for injectable drugs in Brazil. In addition, injectable drugs are increasingly being used for minor surgeries and emergency medical conditions requiring rapid drug delivery.
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 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The rapid growth in ageing population suffering from chronic conditions in Brazil presents lucrative opportunities for players in the injectable drugs market. As per WHO, the percentage of Brazil population aged over 60 years is projected to increase from 13.7% in 2019 to 25% by 2050. The rising geriatric population is increasing the incidences of cancer, cardiovascular diseases, and diabetes, thereby driving the demand for injectable drugs for treatment in the country. Manufacturers can leverage this opportunity by developing injectable drugs formulations specifically targeting age-related diseases. They should also focus on vaccine administration through injectable route for immunization of the elderly population against infectious diseases. This will assist players in capitalizing on the large market opportunity arising from growth in ageing demographic in Brazil.
Porter's Analysis:
Threat of new entrants: The Brazil injectable drugs market is growing at a moderate pace and faces moderate threats from new entrants. Stringent regulations for production and approvals acts as a entry barrier.
Bargaining power of buyers: The buyers in the Brazil injectable drugs market have moderate bargaining power given the specialized nature of drugs. Buyers can negotiate on pricing and demand high quality and personalized services.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to fragmented nature of suppliers. However, suppliers of active pharmaceutical ingredients have some pricing powers.
Threat of new substitutes: Threat of substitutes is low as injectable drugs have limited substitutes based on medical conditions.
Competitive rivalry: The competitive rivalry in the market is high due to presence of local and global players offering generic and branded injectable drugs.
SWOT Analysis:
Strength: Growing geriatric population suffering from chronic diseases is driving demand. Stringent quality regulations ensure safety and efficacy of drugs.
Weakness: High dependence on imported active pharmaceutical ingredients increases production costs. Lack of skilled workforce hampers complex drug manufacturing.
Opportunity: Growing healthcare infrastructure and expenditures will boost adoption. Untapped rural markets offerScope for expansions.
Threats: Supply chain disruptions impact availability. Stringent environmental norms increase compliance costs.
Key Takeaways:
The Brazil Injectable Drugs Market for Hospitals & Ambulatory Settings Growth is expected to witness high growth driven by increasing prevalence of chronic diseases and aging population. The market size is projected to reach US$ 9353.45 Mn by 2024.
Regional analysis: The Southern region dominates the market owing to concentration of major cities and healthcare facilities. Sao Paolo accounts for around 35% market share. Growing medical tourism is further augmenting demand from the region.
Key players: Key players operating in the Brazil injectable drugs market are Danaher Corporation, Agilent Technologies, Thermo Fisher Scientific, CELLINK, Sony Corporation, Merck KGaA, Stratedigm Inc., Sysmex Partec GmbH, Bio-Rad Laboratories, Miltenyi Biotec, Predictive Health Diagnostics Company, Inc., ZEISS Group International, Lambert Instruments, Nikon Instruments Inc., Leica Microsystems, and Nikon Corporation.
For more insights, read- https://www.newsanalyticspro.com/brazil-injectable-drugs-market-for-hospitals-ambulatory-settings-trends-size-and-share-analysis/
