Growth opportunity in Brazil, but no easy pickings, says Datamonitor

Massive growth in the retail pharmaceutical market in Brazil offers Big Pharma an opportunity to off-set slowing sales growth in more developed markets, says independent market analyst Datamonitor. However, local market problems need to be resolved before the full potential can be realized.

The retail pharmaceutical market in Brazil was valued at $12.6 billion last year, having grown by an attractive 14.3% between 2008 and 2009, with retail sales accounting for 83% of the market. Strong sales growth driven by improving access to health care and pharmaceuticals has led Big Pharma to target the country to off-set slowing sales growth in more developed markets.

Mark Hollis, health care analyst at Datamonitor, comments: “Brazil’s many advantages will be tempting to Big Pharma. Government initiatives and the Unified Health System (Sistema Unico de Saude; SUS), for example, have improved access to health care and pharmaceuticals for the steadily expanding population.”