Billion-Dollar IVD Market in Brazil Growing Fast

Brazil's in vitro diagnostic (IVD) test market economic growth exceeded USD 1 billion in 2012 and is expected to grow to USD 1.4 billion by 2017, according to medical market research firm Kalorama Information (New York, NY, USA).

Growth in Brazil far exceeds growth in the world market for IVD, according Kalorama. The growing economy has motivated the 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.

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.”

According to the report, all of the major IVD companies and many innovators have set up shop in Brazil, Russia, India, and China (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.

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," Bruce 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.

The 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 market was segmented based on technology, product type, application, and end-users. Based on technology, the molecular diagnostics market is expected to grow at the highest compound annual growth rate (CAGR) from 2012 to 2017. The advancements in molecular techniques, increasing awareness and acceptance of personalized medicines, rise in the occurrence of chronic diseases, and the need for the diagnosis of such diseases at early stages are the key factors driving the growth of the molecular diagnostics market. On the other hand, the development of a large variety of reagents and analytical techniques, and inexpensive automated testing known as point-of-care (POC) are the factors leading to the growth in the reagents market.

The oncology diagnostics market is the fastest growing segment in in vitro diagnostic applications. Major players such as Roche Diagnostics, Siemens Healthcare, and Hologic are continuously launching new in vitro diagnostics products for the detection of cancer. In addition, point-of-care (POC) testing is also gaining popularity and it is poised to grow at a high single-digit CAGR in the coming years.

Kalorama Information, a division of MarketResearch dot com, supplies the latest independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices, and healthcare; as well as a full range of custom research services. It routinely assists the media with healthcare topics.

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