Entering the Brazilian Pharmaceutical Market
Stable economics and growing healthcare concerns make Brazil one of the top emerging markets, with a current growth rate >20% Many analysts argue that the future for Brazil, which has been called for decades “the country of the future,” has finally arrived. With inflation under control and economic growth above the world average (5.4% and 5.3% in 2007 and 2008, respectively) its considerable population of almost 200 million presents very attractive prospects for pharmaceutical companies all over the world. The health sector as a whole represents 8% of the Brazilian GDP, around US$80 billion per year. Government purchases represent 50% of the market for medical equipments, and more than 90% of the vaccines and 25% of all drugs (Brazilian Ministry of Health). In 2008, the Brazilian pharmaceutical market was estimated to reach US$ 14.9 billion, 34% of Latin America, jumping 23% from 2007 (IMS Health). Twenty percent of that is made up of generic drugs, which cost on average 35% les