Brazil was the sixth largest pharmaceutical sales market in the world in 2013 with 58 billion Brazilian real ($26.3 billion) in revenue, up 17 percent from the year prior, and by 2016 it’s expected to rank fourth in the category worldwide, trailing only the United States, China and Japan, according to Emerging Markets Information Service.
Medicine sales in the country should reach 87 billion Brazilian real ($39.4 billion) by 2017, driven by rising household incomes, a growing middle class and rapid expansion for generic drugs, which hold nearly 30 percent market share today and should reach 45 percent within the next three years.
Brazil’s prescription drugs segment accounted for about 52 percent of the total pharmaceuticals market in 2012, up 12 percent in value and 7 percent in volume compared to the previous year, while the over-the-counter (OTC) segment grew 16 percent in value and 11 percent in volume, reaching a 26 percent market share. Generic drugs claimed 23 percent of the Brazilian market in 2012, up 27 percent in value and 17 percent in volume from 2011..
Brazil has become a key growth market for pharmaceutical companies producing OTC medication, accounting for 14 billion Brazilian real ($6.3 billion) in sales between February of this year and the same month in 2013, up 20 percent year-on-year, according to consultancy IMS Health. The Brazilian Association for Prescription-free Medicine Industries (Abimip) estimates further growth for OTC pharma sales of 12 percent this year.
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