Medical devices are used to carry out operations, treatments and diagnosis, and vary based on complexity and applications. These include primary devices such as, tongue depressors, medical gloves, syringes, and advanced devices such as computers which performs medical testing, implants, and other complicated operations. Technological advancements and innovations that improves the level of quality, safety, and reliability of medical devices present new avenues in the market.
The factors that fuel the growth of the Brazilian medical devices market are changing medical technology landscape encouraging the introduction of innovative products, increasing aging population, and rising government investments & trade initiatives. However, high cost of imported medical devices and high sales tariffs, challenging regulatory environment for approval, import, and sales of medical devices, and low penetration of medical devices in Brazil are factors restraining the growth of the market. Developing healthcare infrastructure, development of advanced ultrasound with a wide array of applications, and establishment of manufacturing facilities in the country by global players create opportunities in this market.
The Brazilian medical devices market is segmented into patient monitoring, ultrasound, magnetic resonance imaging, defibrillators, and others (endoscopy, ophthalmology, orthopedic, radiotherapy). The market is further classified into product and end user. Based on product, the market is further divided into hemodynamic, cardiac monitoring, respiratory, multi-parameter, fetal and neonatal, remote patient monitor, neuromonitoring, temperature monitor, and weight management monitor.
The ultrasound segment is further segmented into technology, application, and product. Based on technology, the ultrasound market is classified into diagnostic ultrasound and therapeutic ultrasound. Based on product, the ultrasound market is further classified into display and portability. The application segment of ultrasound is further divided into radiology/general imaging, obstetrics and gynecology, cardiology, vascular system, urology, and others.
The Brazilian medical devices market is segmented based on defibrillators into product and end users. By product, the market is classified into implantable cardioverter defibrillators (ICDs) and external defibrillators. Based on end users, the market is further divided into hospitals, homecare, public access market, and alternate care market.
The MRI segment is classified on the basis of architecture, field strength, and application. Based on architecture, the market is further divided into closed and open MRI systems. The market is further classified based on field strength into high field, very high field, and low to mid field. The application segment is further classified into brain & neurological, spine & musculoskeletal, vascular, pelvic & abdominal, breast, and cardiac.The leading manufacturers profiled in this report are GE Healthcare, Philips Healthcare, Medtronic PLC, Boston Scientific Corporation, St. Jude Medical Inc., Toshiba Medical Systems Corporation, Mindray Medical International Limited, Hitachi Medical Corporation, Abbott Laboratories, and Siemens Healthcare. The strategies implemented by the leading manufacturers, to strengthen their position in the market, are mergers & acquisitions, partnerships, joint ventures, and others.
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