The Brazil flu diagnostic and treatment market is projected to grow at a CAGR of 15.40% throughout the forecast period to reach US$3,575.032 million in 2027, from US$1,311.902 million in 2020.
The growing burden of influenza across Brazil is significantly boosting the market growth of the flu diagnostic and treatment market in the country. The continuous rise in the incidence of seasonal influenza across the country is supplementing the market growth of flu diagnostics and treatments in Brazil. The rising prevalence of chronic diseases such as diabetes, and obesity is also fueling the number of cases of influenza in the country. The availability of OTC (over-the-counter) medicines for treating influenza symptoms is another factor that is driving the market growth of flu diagnosis and treatment in the country. Furthermore, rising efforts by many industry groups to make OTC medicines cheaper are positive factors in the growth of Brazil’s flu diagnostic and treatment market.
The Brazil flu diagnostic and treatment market is expected to grow due to prevailing chronic diseases, the rising demand for OTC, low medication prices, improved government measures, and others.
According to the data provided by the Brazilian Ministry of Health, the ministry has started its 24th national vaccination campaign against Influenza the common flu. The campaign will be carried out in two phases, the first phase began between April 2022 and May 2022. The focus of this drive will be on immunizing more than 590000 elderly people over 60 years and health workers. The second phase of the National vaccine campaign started between May and June of 2022. It focused on serving more than 250 thousand children aged between 6 months to under 5 years of age.
According to the World Bank data, the combination of out-of-pocket and private insurance spending is among the highest levels of private spending on health in Brazil. As such, the increasing demand for private medical diagnosis and treatment is also contributing to the market growth of the flu diagnostic and treatment market. Favourable government initiatives and investments to boost healthcare infrastructure are further contributing to the growth of the flu diagnostic and treatment market in Brazil.
Product offerings
Abbott a globally diversified healthcare products manufacturer and seller offers an influenza test ID NOW RSV that detects 25% more positive results than RADTS (Rapid Antigen Detection tests) and helps in making real-time clinical decisions. In September 2019, Abbott, introduced ID NOW point-of-care molecular platform in Brazil, with tests for the quick detection of respiratory diseases including influenza.
Master Diagnostic of Brazil offers an Influenza AG test kit, the company claims to provide test solutions for Influenza A and B. It offers easy-to-use test solutions with results within 10-15 minutes. The kit includes boxes with 25 individually wrapped strips, a disposable dropper, sterile swabs for sample collections, disposable test tubes, and a work base.
COVID-19 Insights
COVID-19 scientifically known as Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2) shares a similar route and means of the transaction as respiratory viruses like influenza. Influenza has a very typical seasonal epidemiology in Brazil. But it was observed that during the period of COVID-19, due to various health and safety measures, the transmission of influenza flu was reduced. Since the healthcare sector was overburdened with COVID-19 patients, the diagnostics and therapeutics for influenza cases declined to limit the market potential in 2020. Additionally, the increasing vaccination drive in Brazil to prevent the spread of influenza pre- and post-pandemics may have lowered the concerned cases. In light of recent changes in the conditions due to COVID safety measures, a reduction in the overall number of influenza cases in Brazil can be observed. Although the diagnostic and treatment market is expecting growth during the forecast period, owing to the precautionary measures and awareness about the flu, the market demand contracted in 2020.
Segmentation