The Brazil medical devices market is an industry dominated by imported medical equipment. In 2008, the value of imports in the Brazil medical devices market was $2.7 billion, and this grew to over $4 billion by the end of 2012. It is forecast that by 2018 imports will be worth over $9 billion to the Brazil medical devices industry. The Brazil medical device market is increasingly import dependent as local manufactures are unable to meet the increasing demand and lack of quality standard compared to global players.
Being one of the largest economies in Latin America and being visualized as one of the key upcoming healthcare hubs, Brazil has come a long way. It has secured a very high position amongst emerging countries as far as its economic growth is considered and has been ranked as one of the largest medical devices market in Latin America. Much can be interpreted with this exponential growth specially the changing focus of the government in terms of more investments and policies to streamline the growth of the medical devices industry in conjunction with the betterment of the local population.
The medical device industry has witnessed some drastic changes over the recent times which have pushed the country quite high in ranking amongst emerging nations as far as its performance in the healthcare industry as a whole is concerned. Though the economic growth is slow it has been steady and bound for an increase in the coming years and much of it can be attributed to the contribution made by the healthcare industry, which so far has been the most steady revenue generator.For more information on the Brazil medical devices market, please click here: Brazil medical devices market
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