Brazil Reclaims Lost Market Share in Medical Product Exports After Sharp Decline in 2023

Brazil’s medical device exports grew by 11.6% in the first half of this year compared to the same period last year, reaching $408 million in trade. Imports also increased by 14.4% between January and June, totaling $3.898 billion. This resulted in a trade deficit of $3.49 billion, a 14.7% rise in the first half of 2024. The data comes from the Economic Bulletin of the Brazilian Alliance of Innovative Health Industry (ABIIS).

“We are witnessing a market recovery this year, as 2023 closed with a 2% drop in exports and a 5.6% increase in medical device imports,” said ABIIS Executive President José Márcio Cerqueira Gomes.

Between January and June 2024, the United States was the primary destination for Brazilian medical device exports, accounting for $89.6 million or 22% of all exported products. Argentina followed in second place, representing 7.7% of this market with $31 million in sales, while the Netherlands came in third with 6.3%. U.S. purchases of equipment and support materials for “OPME” (Orthotics, Prosthetics, and Special Materials) stood out, making up 62.2% of the total in that segment.

Germany was Brazil’s leading supplier of medical and hospital products, with sales totaling $672 million, or 17.2% of the $3.898 billion in imported medical devices during the first half of the year, dominated by purchases of IVD reagents.

The United States (15.7%) and China (10.3%) were also key trading partners. The U.S. was Brazil’s main supplier in nine market segments, while China led in five.

Source: Medicina SA

Original text: https://medicinasa.com.br/exportacoes-dispositivos-23/

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