Local healthcare companies urged to consider Brazil

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Datuk Noharuddin Nordin

Brazil’s healthcare market, valued at an estimated RM588.82 billion in 2011 or 9.6 per cent of Brazil’s gross domestic product (GDP), is the largest in Latin America. Its healthcare industry is expected to grow by 34.9 per cent to RM794.1 billion by 2014.-Datuk Noharuddin Nordin, Matrade chief executive officer

KUCHING: Malaysia External Trade Development Corporation (Matrade) urges Malaysian healthcare companies to consider Brazil as part of their overseas market expansion plans.

Matrade’s chief executive officer, Datuk Noharuddin Nordin stated, “The key to Brazil’s attractiveness is its healthcare market size and growth rate.

“Brazil’s healthcare market, valued at an estimated RM588.82 billion in 2011 or 9.6 per cent of Brazil’s gross domestic product (GDP), is the largest in Latin America. Its healthcare industry is expected to grow by 34.9 per cent to RM794.1 billion by 2014.”

Matrade made this assessment following its organising of participating Malaysian healthcare companies at Hospitalar 2011 – held in Sao Paulo, Brazil from May 24 to 27 – which is the largest healthcare trade fair in Latin America.

Noharuddin added, “Other factors encouraging Brazil’s market growth include sustained efforts by its government to widen public access, increase healthcare expenditure and the continued modernisation of its healthcare services.

“This rapid growth of Brazil’s requirement for healthcare products, equipment, services and technology should serve as a tremendous incentive and catalyst for Malaysian healthcare companies’ long-term export programmes.

“Moreover, distance and language should not hinder Malaysian companies from exporting to Brazil, especially for products where Malaysia is globally competitive,” he added.