The Brazilian healthcare industry will grow more than the Brazilian GDP

In 2011, it’s expected that the Brazilian healthcare industry will grow 19%, achieving R$13.5 bi. This growth is much higher than the Brazilian GDP growth, which is expected to grow less than 4.5%. Throughout the year, 6.000 jobs were created in the healthcare industry. Some of the reasons for such a good performance are the strengthening of the Brazilian economy, the creation of new jobs, and the dollar price. 

To read more about it, please, visit:http://www.hospitalar.com/index.php

Brazil and the Global Harmonization Task Force (GHTF)

According to the FDA, the Global Harmonization Task Force (GHTF) fosters international harmonization in the regulation of medical devices. Regulatory and industry authorities from Europe, Asia-Pacific and North America collaborate to encourage the harmonization of regulatory practices to ensure the safety, effectiveness and quality of medical devices.

The GHTF was founded in 1992 and its main purpose is to standardize medical device regulations around the world by the exchange of information. Some of the benefits of the standardization are the convergence in regulatory practices related to ensuring safety and facilitating international trade.

On November 11, Brazil, Argentina, Colombia and Cuba’s regulatory agencies agreed to work in cooperation, through the inspection of manufacturers of medical devices in each country. The Brazilian regulatory agency (ANVISA) requires a Good Manufacturing Practices (GMP) certification from medical devices manufacturers, and the inspection is conducted by the agency itself. From January of 2013 the GMP certification issued by the Argentinean, Colombian, and Cuban agencies will be accepted in Brazil as well, which means more efficiency in the certification process.    

Opportunities for the healthcare industry in Brazil

Emerging countries have been attracting attention from investors in the last years, and in the healthcare industry Brazil is especially promising, since it has the 7th largest nominal gross domestic product in the world and one of the largest populations, that is about 200 million people. Some recent changes, such as the higher income per capita and the aging population point for an even higher demand for healthcare services and products. For many years, healthcare expenditure in the country has been growing at a double-digit percent annually. On an absolute basis, Brazil's healthcare expenditure is nearly as high as China's and a multiple of India's.

Healthcare services, medical devices and the pharmaceutical industry are the most promising in the country, and it is even more attractive for companies that can offer innovative products and services. However, even though there are big opportunities, it is important to notice that there are also many barriers for those planning to do business in Brazil. Some of these barriers are the social differences among regions, the regulatory system, and the available sources for financing. The opportunities seem to overcome the barriers but it may be better to count on local specialists who know the country and its particularities in depth. 

Innovation and medicine: a possible connection?

Life expectancy has risen significantly in the last decades throughout the world and medicine has played a key role in this change. However, the scenario for the healthcare industry has also substantially changed, what includes a more intense participation of emerging countries, the development of new technologies and devices, among others.

A challenge that is being faced by many countries is the limited budget for the healthcare system, and in what concerns to it, innovation can make an important contribution. Innovation, research, and  development of new devices, techniques, drugs, and procedures are fundamental for improving the quality of the healthcare sector while cutting its costs. By doing so, we believe that it is possible to make quality of life available to everyone, everywhere.

It’s clear that this goal is not easy to achieve, but if the many actors involved in the healthcare industry (such as policy makers, healthcare manufacturers, hospitals and healthcare professionals, just to mention some) do their best to accomplish it, the situation can improve significantly.

This blog was created driven by the cause of working towards a better and more efficient healthcare system. With that in mind, we will gather information about innovation and medicine, the healthcare industry in Latin American countries, especially in Brazil, the policies and programs pursued by different governments, and so on. We aim not only to provide information, but also to make people question themselves about how they are related to our cause.

Send your comments and contact us if you have any consideration about the subject. It would be great to hear from you!