TORONTO--(BUSINESS WIRE)--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, increasing demand in the Brazilian private health care system will boost orthopedic device procedures to almost 450,000 by 2015.
The Brazilian health care system is separated into two tiers—private and public health care sectors—each with different procedural and pricing trends. The private health care system caters to the population with private insurance, which is primarily obtained through company group plans. As a result of the improving economy, foreign direct investment, and the subsequent rise in discretionary incomes, an increasing number of Brazilians will seek private insurance coverage, fueling growth in this sector.
“In general, those who can afford private insurance choose to undergo treatments in private facilities because the waiting list for procedures provided under the Sistema Único de Saúde (SUS), the public health care system, tends to be very long,” says Mashkur Reza, Analyst at MRG. “Steady economic growth and the accompanied expansion of private health insurance will lead to rising demand for orthopedic device procedures and enable some people to opt for premium-priced implants from foreign manufacturers, which are more likely to be available in the private setting.”
In most procedures, including the placement of reconstructive joint and spinal implants, patients with private insurance and those able to access private health care facilities are more likely to undergo preemptive surgery before their conditions reach critical stages. Growth in overall joint reconstruction, spinal implant, and relevant bone graft substitute procedures will therefore be strongly influenced by the increasing number of Brazilian citizens adopting private insurance and the expanding number of private medical facilities.
MRG’s Brazilian Markets for Orthopedic Devices 2011 report includes procedure, average selling price, and revenue information on the reconstruction, trauma, spinal implant, and bone graft substitute markets.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer behavior tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources, Inc.
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