Brazil Injectable Drugs Market for Hospitals & Ambulatory Settings, by Product Type (Pre-filled syringes, Auto-injectors, Pre-filled Pens, Pre-mixed IV Bags, and Others), by Drug Class (Anesthesia, Antibiotics, Antidotes, Antiemetic, Anti-infective, Anti-Thrombolytic, Muscle Relaxant, Non Opioids, Opioids, Sedatives, and Others), and by Mode of Delivery (Intramuscular (IM), Intravenous (IV), Subcutaneous (SC), and Others (Epidural and Intrathecal)), is estimated to be valued at US$ 7,960.0 Mn in 2021 and is expected to exhibit a CAGR of 8.4% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Key players operating in the market are focusing on receiving product approvals from regulatory authorities and this is expected to drive the market growth over the forecast period.
For instance, in August 2020, South Korea-based Samsung Bioepis, biopharmaceutical organization focused on expanding patient access to high-quality medicines through the development of biosimilars launched its trastuzumab biosimilar, Ontruzant, in Brazil for treatment of patients with early and metastatic HER2-positive breast cancer and advanced gastric cancer. The drug was approved by the Brazilian health agency in May 2019.
Brazil Injectable Drugs Market for Hospitals & Ambulatory Settings – Impact of Coronavirus (Covid-19) Pandemic
COVID-19 outbreak was first reported on December 31, 2019 in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 260 million cases and 5.2 million deaths due to coronavirus (COVID-19) were reported up till November 29, 2021 across the globe.
The lockdown in various countries due to COVID-19 pandemic has created an economic burden on the private healthcare sector. Healthcare providers were facing challenges with regards to manpower, equipment, consumables, and other resources to ensure safety in the treatment of patients with other diseases, etc. Moreover, the coronavirus pandemic has negatively impacted the development, production, and supply of drugs and affected growth of the healthcare businesses of various companies across the globe. This has led to closure of industrial establishments, except manufacturing of essential commodities and disruption in supply chain of products.
Thus, COVID-19 pandemic has affected the economy in three main ways: 1) by directly affecting the production and demand, 2) by creating disruptions in distribution channels, and 3) through its financial impact on companies and financial markets. Thus, impact of the coronavirus (COVID-19) pandemic is expected to slightly limit the growth of the Brazil injectable drugs market for hospitals & ambulatory settings during the forecast period.
Browse 12 Market Data Tables and 30 Figures spread through 200 Pages and in-depth TOC on “Brazil Injectable Drugs Market for Hospitals & Ambulatory Settings”- Forecast to 2028, by Product Type (Pre-filled syringes, Auto-injectors, Pre-filled Pens, Pre-mixed IV Bags, and Others), by Drug Class (Anesthesia, Antibiotics, Antidotes, Antiemetic, Anti-infective, Anti-Thrombolytic, Muscle Relaxant, Non Opioids, Opioids, Sedatives, and Others), and by Mode of Delivery (Intramuscular (IM), Intravenous (IV), Subcutaneous (SC), and Others (Epidural and Intrathecal)).
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Key players operating in the market are focusing on adoption of inorganic growth strategies such as mergers, collaborations, partnerships, and acquisitions, in order to strengthen their position in the global market. For instance, in April 2020, m8 Pharmaceuticals, a pharmaceutical company based in the U.S., and Gennisium Pharma, based in France, entered an exclusive agreement under which m8 Pharmaceuticals has exclusive rights to register and commercialize a more suitable formulation of an already existing orphan drug for Apnea (the cessation of breathing, in which there is movement of muscle and the volume of lungs remain unchanged) in Mexico and Brazil.
Key Takeaways of the Brazil Injectable Drugs Market for Hospitals & Ambulatory Settings
- Brazil injectable drugs market for hospitals & ambulatory settings is expected to exhibit a CAGR of 8.4% over the forecast period, owing to the rising launches, agreement, and regulatory approvals of products. For instance, in October 2020, Knight Therapeutics Inc., an American specialty pharmaceutical company, announced the signing of a new exclusive distribution agreement with Gilead Sciences, Inc. for the commercialization of AmBisome (liposomal amphotericin B) in Brazil.
- Among product type, pre-filled syringes segment is expected to account for largest market share during the forecast period, owing to product approvals by key players to meet the demand for prefilled syringes with safety features and technological improvements. Pre-filled syringes segment in Brazil injectable drugs market for hospitals & ambulatory settings is estimated to be valued at US$ 3,010.6 Mn in 2021 and is projected to increase to US$ 6,999.3 Mn by 2038, witnessing a CAGR of 8.8% during the forecast period.
- Major players operating in the Brazil injectable drugs market for hospitals & ambulatory settings include Becton, Dickinson and Company, Pfizer Inc., Novo Nordisk A/S, Gerresheimer AG, B. Braun Medical Inc., Grifols S.A, Baxter International, Inc., Fresenius Kabi AG, Mylan N.V., Bayer AG, F. Hoffmann-La Roche AG, Farmoquimica S.A., Novartis International AG, Eli Lily and Company, União Química Farmacêutica, Nacional S.A., Cristália, Aspen Pharmacare Holdings Limited, Blau Farmaceutica S.A., Halex Istar Indústria, Farmacêutica SA, Eurofarma, Ache Laboratorios Farmaceuticos SA, Laboratorio Teuto Brasileiro S/A, EMS Pharma, and Hipolabor Farmaceutica Ltda.