Matej Mikulic
Research expert covering health, pharma & medtech
Pharmaceutical industry in Brazil - Statistics & Facts
Brazil is the only Latin American country ranking among the top pharmaceutical markets worldwide, with a global share of approximately two percent, and a revenue of more than 20 billion U.S. dollars. In fact, the South American country has one of the fastest growth rates among leading pharmaceutical markets in the world, with an estimated nine percent increase in 2023, and a pharmaceutical industry that has been increasingly growing in recent years.
Overall, the pharmaceutical market in Brazil is expected to expand, with revenue forecast to consistently increase in the coming years. Estimates indicate that this value could rise by 20 percent in the next five years, reaching close to 26 billion U.S. dollars by 2029.
The Brazilian pharmaceutical industry
The pharmaceutical industry in Brazil is composed of over 200 companies, of which more than half are located in São Paulo, the most populous city in Brazil. In 2022, production within the industry reached a value of close to 70 billion Brazilian reals, equivalent to around 13 billion U.S. dollars, with medications accounting for 95 percent of the total. That year, the sector employed more than one million people in the wholesale and retail segments, with the retail sector making up the highest share of the working force within the industry.A market run mostly by national companies
In regards to global leading pharmaceutical companies, the French corporation Senofi and the Danish multinational Novo Nordisk stand out. However, domestic companies lead the business and rank highly on the list of producers. For example, Eurofarma S.A., a prominent Brazilian multinational pharmaceutical corporation, reached a net revenue of approximately nine billion Brazilian reals (1.85 billion U.S. dollars) in 2023, an increase of close to four billion reals compared to 2020.Research and development
More than any other industry, the pharmaceutical sector is highly dependent on scientific research and development. Clinical trials are a crucial step in the process of new drugs becoming available on the market. Brazil is the Latin American country where the highest number of clinical trials have been performed, with over 10,000 studies recorded as of February 2025. That year, most clinical studies conducted in the country were in phase 3, with more than 3,000. More than half of the total had already been completed.Overall, the pharmaceutical market in Brazil is expected to expand, with revenue forecast to consistently increase in the coming years. Estimates indicate that this value could rise by 20 percent in the next five years, reaching close to 26 billion U.S. dollars by 2029.
