On the 27th, the publicly-listed biotechnology company Scivision Biotech announced significant progress in its overseas expansion. The company has received approval from Brazil's National Health Surveillance Agency (Anvisa) to market its anti-adhesion products for gynecological C-sections and surgical procedures. These products are expected to contribute to revenue starting next year, marking Scivision’s entry into the South American market. Coincidentally, Bio Preventive Medicine also announced on the 27th that its innovative diagnostic reagent DNlite-IVD103 has received marketing approval from Brazil's Anvisa.
Scivision Biotech revealed that it has planned three major products for the Brazilian market: anti-adhesion products for gynecological C-sections and surgical procedures, anti-adhesion products for orthopedic surgery, and single-injection joint cavity injections. The gynecological C-section and surgical products have already obtained sales approval from Brazil's Anvisa, making Scivision the first domestic company to receive certification for anti-adhesion products in the Brazilian market. The other two products are expected to receive approval by the end of this year or early next year.
Reports indicate that Brazil, with a population of 215 million, has one of the highest C-section rates globally. The two major metropolitan areas, São Paulo and Rio de Janeiro, have a combined population of about 35 million, and their economic strength is formidable. The market potential is substantial, and Scivision anticipates that revenue contributions will begin to increase from next year.
Bio Preventive Medicine noted that Brazil is the largest economy in Latin America and the biggest medical device market in South America. The Brazilian market has always been highly competitive, and securing marketing approval for DNlite-IVD103 is a significant milestone. Furthermore, DNlite-IVD103 is protected by patents in Brazil, which will help ensure technological leadership and accelerate market promotion. The company plans to expand into the Latin American market through a co-distribution model and is currently in discussions with potential partners.
According to the International Diabetes Federation (IDF), Brazil has approximately 15.73 million adults with diabetes, ranking sixth globally and first in Latin America in terms of diabetes prevalence. In 2021, the Brazilian government spent a staggering $42.9 billion on diabetes-related healthcare, indicating a vast potential for healthcare opportunities.
Bio Preventive Medicine stated that DNlite-IVD103 is the world's first ELISA diagnostic reagent designed to prevent the rapid progression of diabetic nephropathy. It has already received marketing approval in the European Union, Taiwan, Malaysia, Thailand, Saudi Arabia, the United Arab Emirates, Vietnam, Indonesia, and Guatemala. Now, with the approval from Brazil, the largest country in South America, the pace of global certification has accelerated. The company is actively pursuing business partnerships and distribution channels across various regions. With the gradual realization of its global expansion efforts, the company is optimistic about robust revenue growth over the coming year.
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