Frost & Sullivan: Government Investments in Healthcare Foster the Brazilian Market for In Vitro Diagnosis Reagent Kits

Frost & Sullivan: GovernmentFrost & Sullivan: Government Investments in Healthcare Foster the Brazilian Market for In Vitro Diagnosis Reagent Kits PR Newswire SAO PAULO, Feb. 19, 2014 - Focus on disease prevention coupled with an anticipated rise in the number of elderly people will aid market development Investments in healthcare by the government to prevent diseases and promote health is fuelling the uptake of in vitro diagnosis (IVD) reagent kits in Brazil. The popularity of evidence-based medicine and the pressure to reduce costs in the Brazilian healthcare system are reinforcing this trend. To further strengthen the healthcare industry, the government has implemented incentive programs that encourage local manufacture of IVD equipment and reagent kits and reduce the country's dependence on imported products. New research from Frost & Sullivan (http://www.lifesciences.frost.com), Analysis of the Brazilian Market for Reagent Kits in In Vitro Diagnosis, finds that the market earned revenues of $1.01 billion in 2012 and estimates this to reach $1.52 billion in 2017. The research covers the immunochemistry, microbiology, hematology/hemostasis, molecular diagnosis, urinalysis, and point-of-care testing (POCT) application segments. Although POCT accounted for only one percent of the total market share in 2012, the segment is expected to develop considerably over the forecast period.