In the area of clinical diagnostics, BRIC nations have even less in common. It stands to reason that governments that have a history of paying for healthcare will continue to do so. In this respect the two BRIC engines, China and India, are sorely lacking. They are significantly outmatched by Brazil and a number of other emerging markets that may prove to be very lucrative from this standpoint.
Over the past few years Brazil has invested heavily in infrastructure, including healthcare service; India and China still have a considerable amount of work to do to catch up.
In 2009, the China Ministry of Health estimated that there were approximately 1.5 doctors per 1,000 people and that this has not changed since 2002. Similarly, there were approximately 2.2 hospital beds per 1,000 people in 2002 and some 2.8 beds in 2009. This means that the ability to build the IVD industry is somewhat precarious. True, most primary healthcare in developing countries is provided by nurse practitioners, however even they are in short supply.
Growth economics aside, from the perspective of the medical and healthcare industries, economic growth does not always translate to increased healthcare spending. At this time, BRIC countries have little in common, except that none of them spends very much on diagnostics. It will take quite a bit of spending to come close to even the lowest OECD spender, which is Mexico at $1.6 per person.
The BRIC IVD market is expected to grow from $2.9 billion in 2009 to $5 billion in 2014 at a CAGR of 12%. That's impressive, but even though this annual growth rate is considerably more than that of the whole IVD market (6%), BRIC countries will still account for not more than 9% of the market in 2014.