Brazil Drug Delivery Devices Market Size

Brazil Drug Delivery Devices Market Analysis

The Brazil drug delivery devices market is expected to register a CAGR of 4.5% over the forecast period.

COVID-19 had a significant impact on the Brazil drug delivery devices market in early 2020 owing to the factors such as country-wide lockdowns leading to less export and import of drug delivery devices. For instance, according to the article published in May 2021 in PubMed, Cruz Foundation (Fiocruz) revealed that the prevalence of acute respiratory distress syndrome (ARDS) in Brazil significantly increased during the pandemic, which was likely explained by several COVID-19 cases being diagnosed as acute respiratory distress syndrome (ARDS). Hence, most people utilize nebulizers and inhalers to alleviate breathing difficulty. As a result, the demand for drug delivery devices increased in Brazil. Furthermore, drug delivery devices export and import got delayed, making the situation challenging in the initial pandemic phases. However, the market is currently showing stable growth and is expected to follow the same over the next 3-4 years. Factors such as an increase in the number of chronic diseases and the rise in research and development activities are anticipated to boost the market growth in the coming years.

The high prevalence of chronic diseases is likely to increase the demand for drug-delivery devices, which is anticipated to boost the market growth. For instance, according to the IDF Diabetes Atlas 2021, 15,733,600 people were affected with diabetes in Brazil in 2021. The rising incidence of diabetes is likely to demand insulin drug delivery devices, expected to drive the drug delivery devices market in Brazil over the forecast period. Furthermore, the presence of competitors, mergers acquisition, and collaboration in the studied region is likely to increase the market growth as these improve the chances of product availability and competition. For instance, in February 2022, Eurofarma, a multinational pharmaceutical business with 100% Brazilian capital, introduced the generic medicine dexamethasone + thiamine hydrochloride + pyridoxine hydrochloride + cyanocobalamin, indicated for the treatment of inflammatory neuropathies. The medicine is available in pharmacies throughout Brazil as an injectable solution in packages of six ampoules. Hence, product launches relating to drug delivery devices like injectables will likely boost market growth over the forecast period.

Hence, due to the rise in the prevalence of chronic diseases and the high demand for drug delivery devices, Brazil's drug delivery devices market is expected to witness growth over the forecast period. However, the risk associated with needlestick injuries may restrain the market growth over the forecast period.