8.5% CAGR through 2020 forecast for Brazil’s pharma market

The Brazilian pharmaceutical market will expand in value from $29.4 billion in 2014 to reach around $47.9 billion by 2020, representing a strong compound annual growth rate (CAGR) of 8.5%, new research indicates.

According to research and consulting firm GlobalData’s latest report, Brazil’s increasingly elderly population, which will lead to a rising incidence of chronic and lifestyle-associated diseases, as well as the country’s robust investment in health care, will be key drivers of market growth during the forecast period.

Joshua Owide, GlobalData’s director of healthcare industry dynamics, says that the Brazilian pharmaceutical industry continues to prosper, primarily thanks to the country’s economic policies and reforms, noting: “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.”