Brazil’s biomaterials market to reach more than $5.18 billion by 2022

In Brazil, Zion Market Research predicts that the biomaterials market will grow significantly from the 2016 level of $1.89 billion to more than $5.18 billion by 2022. The report says that much of the biomaterials growth in Brazil will be in the healthcare industry which has been growing tremendously lately. The healthcare industry growth in Brazil is mostly due to a larger aging population, low cost health care, favorable government regulations, and a high quality level of care boosting medical tourism in the country. The report points out that Brazil is the fifth largest country in both land area and population, making it a huge market for biomaterials expansion. Companies like Allergan Inc., Biomet, In., Integra Life Sciences Holdings Corporation and others are listed as key medical biomaterials players in Brazil.