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August 25, 2015.
The Brazilian pharmaceutical market will expand in value from $29.4 billion in 2014 to reach approximately $47.9 billion by 2020, states research and consulting firm GlobalData.
The company’s latest report points to Brazil’s increasingly elderly population and the country’s robust investment in healthcare as key drivers of market growth during the forecast period.
Joshua Owide, GlobalData’s Director of Healthcare Industry Dynamics, commented: “Brazil has emerged as a global manufacturing hub for pharmaceutical and biotechnology companies, with countries such as India investing heavily in the manufacturing sector after former Brazilian health minister, José Serra, invited investment from generic companies. As a consequence, [it] is now one of the most attractive and promising pharmaceutical markets in the world."
Owide added that Brazil's pharmaceutical market value has "more than doubled from $14.1 billion in 2008.”
For more information see the report CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Brazil