According to a recent report from Frost & Sullivan, the Brazilian market is the second fastest growing BRIC market after China. Last year Brazil's health IT market generated revenues of $410 million, which is expected to hit $714 million by 2015. The country will also make up more than 47 percent of the Latin American market by 2015, according to the report.
The country's healthcare IT market is being held back by a lack of knowledgable workers and basic infrastructure, including the Internet and electric power.
While growth is largely being driven by electronic medical records and hospital information systems, the customer base for mobile health apps is also growing, Frost reports:
"The expansion of a strong customer base for mobile health apps, with the revenues generated from smart phones and tablets, is another driving force for the growth of the healthcare IT sector in Brazil. It is estimated that the revenues from smart phones will reach $46.6 million in 2015, with growth of 112 percent annually. The apps are considered to have huge potential for growth in clinical diagnostics and education areas for diseases, medicines information, etc."
The key for continued growth requires those serving the healthcare industry in Brazil to help them effectively demonstrate the payback of health IT solutions, according to the Frost report.