The Brazilian pain management drugs market is projected to grow at a compound annual growth rate (CAGR) of 4.65% from 2025 to 2030.
Recovery of the Brazilian economy can be witnessed by increasing purchasing power and corresponding shift towards a fast food diet, leading to rising cases of obesity and diabetes in the country.
According to the International Diabetes Federation, Brazil had a total population of 155,426,300, out of which the prevalence of diabetes stood at 10.6%, with a total of 16,621,400 diabetes cases in adults. This resulted in an increase in the cases of severe heart diseases among people in the country.
Moreover, according to a study conducted by scientists at the Preventive Medicine Department of the University of São Paulo’s Medical School in collaboration with colleagues at Harvard University in the U.S., around 15,000 new cancer cases are diagnosed in the country each year, mainly attributed to the rising prevalence of overweight and obesity. The study projects that the number of new cancer cases will double by 2025, reaching 29,000 cases per year or 4.6% of all new cancer cases in Brazil. Thus, the above factors are fueling the demand for various pain management drugs. Rising cases of heart transplant procedures in Brazil are also contributing to the growing demand for post-operative pain management drugs in the country.
The rise in sales of generic drugs in the country, owing to the Generic Medicines Policy passed by the Brazilian government, is another key driver boosting the country’s pain management drugs market. Since many Brazilians still cannot afford medications, the development of low-cost generic drugs is helping to expand access to more underserved populations. Furthermore, the Brazilian Institute of Geography and Statistics estimated that the senior population of Brazil will surpass its young population over the next two decades, which is further driving the need for a variety of affordable medicines for age-related diseases in order to maintain the overall healthcare expenditure.
Brazil Pain Management Drug Market Segmentation