Huge Markets For Devices Emerging In Brazil, Latin America

Article preview from IN VIVO - October, 2012 

Nearly stalled Western economies have driven corporations of all stripes to ponder the market potential promised by the so-called BRIC countries (Brazil, Russia, India and China). The medical device industry is no exception. The BRIC nations present a challenging but lucrative opportunity for companies willing to deviate from traditional markets to access economies with GDPs that place them in the top 15 economies in the world. Of the BRIC nations, China has become the number one destination for health care technology companies in the minds of CEOs of commercial-stage medical device companies. But executives staring only on China might be missing another compelling opportunity that literally rests under their noses: Latin America.

 

Huge Markets For Devices Emerging In Brazil, Latin America

Article preview from IN VIVO - October, 2012 

The lure of the East is difficult for many medical device companies to resist. But device CEOs eyeing surging markets there might be missing a golden opportunity right under their southern borders: Latin America.

• The opportunities of the so-called BRIC countries – Brazil, Russia, India and China – have largely focused on the latter two countries, which boast the top two populations of the world. To be sure, both offer enormous markets opportunities.
• But something needs to be said about Brazil and, more broadly, Latin America. Clearly these countries don’t offer the head counts of India and China, but multinationals have been reaping the rewards of these markets for decades and it is time for small and medium size companies to realize what they may be missing.
• Like India and China, tapping into the health care markets of Brazil, Mexico and other Latin American countries requires some insights and understanding, and presents risks along with the reward.
• But a commercialization strategy addressing local regulatory, reimbursement, and commercial practices – potentially one enlisting a local partner – can pay enormous dividends for companies trying to find growth outside of the US and Europe.

Slow, nearly stalled, Western economies have driven corporations of all stripes to ponder the market potential promised by the so-called BRIC countries (Brazil, Russia, India and China). The medical device industry is no exception. The BRIC nations present a challenging but lucrative opportunity for companies willing to look beyond traditional markets to find lesser known economies that place among the top 15 in the world. The medical device industry is no exception.

Continued...

Purchase this article online as a PDF and receive it immediately via email. Questions? Call (800) 332-2181. 100% Satisfaction Guaranteed.

Plus:

To find out about more about more about Elsevier Business Intelligence's medical device publications and databases, multi-user access and/or advertising with Medical Devices Today, please contact Kristy Kennedy at (480) 985-9512