Brazil one of the top emerging markets for Pharma, with current growth of 23% pa

Many analysts argue that the destiny of Brazil, which has been called for decades "the country of the future," has finally arrived. With  inflation under control and economic growth above the world average  (5.4% and 5.3% in 2007 and 2008, respectively), its considerable  population of nearly 200 million people presents very attractive  prospects for pharmaceutical companies all over the world, according to  Marcelo Sicoli, executive manager of the EnterBrazil Consultancy.

The health sector as a whole represents 8% of the Brazilian Gross  Domestic Product, around $80.0 billion per year. Government purchases  represent 50% of the market for medical equipments and more than 90% of  the vaccines and 25% of all drugs, Brazilian Ministry of Health figures  show. In 2008, the Brazilian pharmaceutical market was estimated to  reach $14.9 billion, 34% of Latin America, and jumping 23% from 2007  (IMS Health).