Other Pharmaceuticals - Brazil

Brazil

Highlights

The Other Pharmaceuticals market in Brazil is expected to achieve a revenue of US$8.37bn in 2024.
Looking ahead, the market is projected to grow at a compound annual growth rate (CAGR 2024-2029) of 4.24%, leading to a market volume of US$10.30bn by 2029.
When compared globally, United States is anticipated to generate the highest revenue in the Other Pharmaceuticals market, amounting to US$260.50bn in 2024.
Brazil, known for its rich biodiversity, is witnessing a surge in research and development of natural-based pharmaceuticals.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Pharmaceuticals market in Brazil has been witnessing significant development in recent years.

Customer preferences: Brazil has a large population and a growing middle class, which has led to an increase in healthcare spending. Customers in Brazil are increasingly seeking alternative medicines and natural remedies, which has led to a rise in demand for Other Pharmaceuticals.

Trends in the market: One trend in the Other Pharmaceuticals market in Brazil is the increasing popularity of herbal and traditional medicines. This trend is driven by a growing interest in natural remedies and a desire for products that are perceived to be healthier and safer than synthetic drugs. Another trend is the increasing use of generic drugs, which are more affordable than brand-name drugs. This has led to increased competition in the market and a decrease in prices.

Local special circumstances: Brazil has a large and diverse population, which has led to a wide range of health issues and conditions. This has created a demand for a variety of Other Pharmaceuticals products, including herbal and traditional medicines, vitamins and supplements, and generic drugs. Additionally, Brazil has a large agricultural sector, which has led to the development of a number of natural remedies and herbal medicines.

Underlying macroeconomic factors: The Brazilian economy has been growing in recent years, which has led to an increase in healthcare spending. The government has also implemented policies to increase access to healthcare, which has led to an increase in demand for pharmaceutical products. Additionally, Brazil has a large and growing middle class, which has more disposable income to spend on healthcare. This has led to a rise in demand for Other Pharmaceuticals products, particularly those that are perceived to be healthier and safer than synthetic drugs.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.