Brazil Diabetes Therapeutics Market Analysis

Brazil Diabetes Therapeutics Market Executive Analysis

Brazil's diabetes therapeutics market size is at around $3.59 Bn in 2022 and is projected to reach $8.11 Bn in 2030, exhibiting a CAGR of 10.7% during the forecast period. The Brazil administration's budget proposal for 2023 called for a $4.2 Bn reduction in investment in the country's health industry. The Bolsonaro administration's cuts and the spending limit may cost $11.1 Bn. Brazil would lose 30% of its investment in healthcare over the anticipated 20-year period with the spending cap in effect. In the forecasts for 2023, 12 additional Ministry of Health initiatives were impacted. For instance, the distribution of medications for the therapy of AIDS, STDs, and viral hepatitis lost $76 Mn. 60% of the Popular Pharmacy's resources were gone. The action, which is in charge of providing free high-priced medications, will have $223 Mn less operating capital in 2023.

In Brazil, there are close to 12 million people with diabetes, and the incidence varies from 6.3% to 13.5% at the moment. Brazil has the fourth-highest number of diabetic patients in the world. The bulk of patients, regardless of diabetes type, do not achieve other metabolic control objectives. Brazil has a very high economic cost associated with diabetes and its complications, necessitating the pressing need for more efficient management and prevention strategies.

Metformin is the first-line antihyperglycemic medication advised, after 3 months of lifestyle adjustments or sooner in nonresponsive, overweight, or obese patients. After 3-6 months of metformin therapy, or sooner (4–8 weeks) in the case of a poor response to metformin, sulfonylurea is advised as a second-line agent. When there is unexplained weight loss and higher glycemic values, sulfonylureas can also be the first line of therapy. When metformin and sulfonylurea therapy fails after three to six months, as well as when glycemia is above 300 mg/dL at initial assessment or diagnosis, or when combined with weight loss, ketonuria, and/or ketonemia, insulin therapy is advised. After two to three months, if the HbA1c target is still unmet, therapy with regular and/or neutral protamine Hagedorn insulin is advised.

The Brazilian Popular Pharmacy Program, a government initiative that partly funds some brands of medications, including metformin and glibenclamide, makes oral antihyperglycemic drugs available. Due to the limited availability of drugs given by the public sector and the expensive prices in private pharmacies, this program is crucial in Brazil and serves as a useful alternative to accessing affordable medications there.

Market Dynamics

Market Growth Drivers

With an estimated 16 Mn people suffering from the condition, Brazil has one of the highest prevalence rates of diabetes in the entire globe. As a result, there is now a sizable demand for diabetes treatments, which is predicted to propel market expansion. The Brazilian government has started a number of programs to combat the rising prevalence of diabetes, including giving people in the public healthcare system access to free diabetes medication. This is anticipated to improve accessibility to diabetes treatments, spurring market expansion. The development of novel medications, drug delivery methods, and monitoring tools are just a few examples of important technological advancements in the treatment of diabetes. These developments have made it simpler and more efficient to control diabetes, and they are predicted to spur Brazil's diabetes therapeutics market expansion.

Market Restraints

Therapeutics for diabetes, especially more recent drugs and procedures, can be costly. For some patients, especially those with lower incomes, this may restrict their ability to receive care. While diabetes awareness is rising in Brazil, some populations still don't have a good understanding of how to successfully manage the condition. This can reduce the efficacy of diabetes therapeutics and lead to poor treatment adherence. Obesity and cardiovascular illness are two other conditions that frequently coexist with diabetes. It can be difficult to manage these conditions, which can reduce how well diabetes treatments work thereby limiting the growth of the Brazilian diabetes therapeutics market.

Competitive Landscape

Key Players

• Hypera Pharma (BRA)
• Profarma (BRA)
• Blanver (BRA)
• Supera Farma (BRA)
• Granado (BRA)
• Astrazeneca
• Boehringer Ingelheim
• Eli Lilly
• Glaxosmithkline
• Novartis
• Novo Nordisk

Healthcare Policies and Regulatory Landscape

As the coordinator of the Brazilian Health Regulatory System (SNVS), which is prevalent across the entire country, the Brazilian Health Regulatory Agency (Anvisa) is an autarchy connected to the Ministry of Health and a component of the Brazilian National Health System (SUS). The Brazilian regulatory body in charge of approving and monitoring, among other things, food, cosmetics, tobacco, pharmaceuticals, health services, and medical equipment is known as ANVISA (Agência Nacional de Vigilância Sanitária). Before drugs can be marketed in Brazil, ANVISA is essential in ensuring that they adhere to stringent safety and efficacy standards. The agency assesses clinical trial findings and examines information provided by pharmaceutical firms to determine the effectiveness and safety of medications. ANVISA additionally oversees the continued adherence to safety and efficacy standards for medications after they have been authorized. ANVISA is in charge of overseeing the approval and monitoring of drugs as well as the production, distribution, and marketing of healthcare goods in Brazil's healthcare sector. The organization also regulates the importation of medical supplies and works to stop unlicensed or fake medication sales and distribution.