The latest report by IMARC Group titled, “Brazil Generic Drug Market: Industry Trends, Share, Size, Growth, Forecast and Opportunity 2018-2023”, finds that the Brazil generic drug market reached a value of more than US$ 92 Billion in 2017, growing at a CAGR of around 15% during 2010-2017. In 1999, a law was passed by the government of Brazil – The Generic Drugs Law – which allowed the substitution of generic drugs for trademark branded drugs. This law authorized laboratories to handle and sell drugs, thereby enabling commercialisation and availability of previously more expensive branded drugs after the expiry of their patents. This has helped in improving the quality of drugs and facilitating the consumers to access quality drug treatment.
Highlights of Brazil generic drug market:
- The Generic Drugs Law gave impetus to the market and helped in improving the quality of the generic drugs.
- Free distribution of medicines for the treatment of various diseases by the government and public health system provide stimulus for the market growth.
- The factors such as increasing aging-population and growing lifestyle diseases have further driven the demand for generic drugs in the region.
The Brazilian generic drug market has been spurred by the active participation of the government and health-care organizations. Besides passing the Generic Drugs Law, the government has also made constant efforts in promoting the sales of generic drugs. Most importantly, The Brazilian Federal Government represents the biggest pharmaceutical client itself. It distributes free contraceptives and medicines for hypertension, asthma, diabetes, Parkinson's, glaucoma, osteoporosis and rhinitis through their programmes and initiatives. Moreover, the Brazilian public health system; the Sistema Único de Saúde, avails generic versions of the medicines for the treatment of various diseases such as AIDS, tuberculosis, Alzheimer, Hepatitis, transplants, Lupus, etc. Some of the other factors which have contributed in influencing the market include an increase in the aging-population and the growing prevalence of lifestyle diseases. Considering the developments, the market is further expected to reach a value of almost US$ 209 Billion by 2023.
The report examines the competitive landscape of the market and provides the details of the major players of the market such as EMS S.A., Sanofi Group, Eurofarma Laboratórios S.A., Hypermarcas S.A., Sandoz, Ache Laboratories and União Química Farmacêutica Nacional S.A. The report also provides an in-depth analysis on the historical, current and future trends in the generic drug market in Brazil. This research report serves as an exceptional tool to understand the drivers, sales trends, volume trends, market structure, competitive landscape, regulations, key players, manufacturing and the outlook of generic drugs in Brazil. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who want to gain an insight into the market for generic drugs in Brazil.
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