Report Description of the Brazil Telemedicine Market Analysis
Research Scope and Assumption
- The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
- The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
- We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
- All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
- Inflation has not been accounted for in order to estimate and forecast the market
- Numbers may not add up due to rounding off
Reason to buy the report:
- Facilitate decision-making based on strong current and forecast data for Brazil Telemedicine Market Analysis
- Develop strategies based on the latest regulatory framework
- Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
- Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Brazil Telemedicine Market Analysis
- Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- We have technically sound team which do a deep dive research and also provide strategy based consulting analysis
Brazil Telemedicine Market Analysis Executive Summary
Telemedicine is strongly focused on teleradiology in Brazil, which represents over 98% of the market segment revenue. Other telemedicine applications encompass real-time solutions such as specialist consultation and distance learning/education. MHealth is a promising market with a broad range of applications including delivery through telemedicine. Nevertheless, it encounters several barriers to realizing the market potential. From wearables to apps, vital signs remote monitoring and chronic disease management, mHealth is constantly transforming the entire ecosystem with new value proposition and solutions. Digital health in Brazil offers huge opportunity given that industry convergence is transforming how care is delivered via the intersection between the healthcare and ICT industries.
Brazil is attracting numerous telemedicine projects due to governmental healthcare initiatives targeting low-income groups. In a country like Brazil, where there’s a huge social gap in the society, telemedicine is an effective option to reduce such gaps. This technology allows patients to save hours, reduce cost, minimize errors and get quality treatment even in the smallest of cities.
Market Size and Key Findings
The Brazil Telemedicine Market Analysis size stood at around USD xx billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Market Growth Drivers Analysis
In Brazil, the increasing population is one of the factors responsible for the growth of telemedicine market. The growing incidences of chronic diseases and conditions are accelerating demand of the market. Developing the telemedicine market have made healthcare facilities accessible and affordable to everyone. These factors are propelling the demand for the market. Creating awareness among people and advancement in information and communication technology day by day are accelerating demand for the market.
A shortage of surgeons, especially in this region is a crucial factor for the demand of the telemedicine market. Good healthcare infrastructure needs to establish.
Covid-19 Market Impact Analysis
The Covid-19 pandemic has also acted as a catalyst for increasing the use of telemedicine applications. In the case of Covid-19 pandemic, after which there has been an exponential growth in the market.
Some of the major industry players involved in telemedicine market include Medisoft Telemedicine, Ge Healthcare, Haemonetics Corp., AMD Global Telemedicine Inc., Philips Healthcare, Cloudvisit Telemedicine, Reach Health companies.
Products in Pipeline
- Health care entities (HCE) are testing and tasting telemedicine. The experience has been widely acclaimed and may become the new reality, mainly for health care centers and entities. Remote second opinions, peer-to-peer liaisons, market survey, I.A. Private HCEs are abundant in Brazil and so is their need to adapt to the post-COVID19 era.
Notable Recent Deals
- On March 31, 2020, the Brazilian Senate approved Bill 696, which regulates the use of telehealth during the COVID-19 public health emergency. The Bill broadly defines telehealth as “the exercise of medicine facilitated by technology for assistance, research, disease and injury prevention, as well as for health promotion”.
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario
In Brazil, a number of initiatives related to the development process of telemedicine are taking place. In terms of governmental policies, the Brazil Telehealth Program (Programa Telessaúde Brasil), the National Teaching and Research Network (Rede Nacional de Ensino e Pesquisas – RNP), and the Telemedicine University Network (Rede Universitária de Telemedicine – RUTE) are the most important ones.
With the COVID-19 public health emergency, CFM (Conselho Federal de Medicina) and the Ministry of Health understood that CFM Resolution 1643 was insufficient to regulate telehealth in Brazil. In response, CFM recognized (as an exceptional measure, and only during the COVID-19 public health emergency) teleorientation, telemonitoring and teleinterconsultation services. Similarly, the Ministry published Ordinance 467 which, also as an exceptional and temporary measure, allows for telehealth pre-clinical care, assistance, support, consultation, monitoring and diagnosis in Brazil’s Unified Health System, as well as by supplementary and private health care providers.
As the supplementary rules on telehealth in Brazil were not adjusted, foreign physicians and companies seeking to provide telehealth services (“Services”) in Brazil must still obtain certain permits and licenses. This requirement poses an obstacle to foreign companies, medical institutions and physicians, unless they partner-up with a national company in possession of such licenses.