Private Health in Brazil Global vs Local Outlook Analysis¶
Global vs Local outlook¶
Analyzing the private health value chain reveals distinct characteristics and shared trends when comparing the global landscape with the specific context of Brazil. While both face pressures related to rising costs, technological advancements, and evolving patient expectations, the local Brazilian environment is heavily shaped by its hybrid public-private system, unique regulatory framework, and regional socioeconomic disparities.
Globally, the private healthcare value chain encompasses research and development, supply of products and technology, distribution, financial intermediation (insurance/payers), healthcare services delivery, and increasingly, digital health and complementary services. The Brazilian value chain, as detailed in the provided report, largely mirrors this structure, explicitly defining steps from Research and Education through Supply, Distribution, Financial Intermediation, Healthcare Services, and Complimentary Health Services, with Regulation acting as a horizontal layer. This fundamental structure is similar, reflecting the universal stages involved in bringing healthcare goods and services to patients.
However, the emphasis and dynamics within these steps differ. Globally, particularly in developed markets, there's a strong push towards digital transformation, including telehealth, AI in diagnostics and personalized treatments, and digital home monitoring, driven by the need for increased accessibility, efficiency, and cost reduction., Value-based care models, which tie reimbursement to health outcomes rather than the volume of services, are also gaining traction globally, driving consolidation and integration across the sector., Private equity investment globally is actively targeting healthcare IT, data and analytics, and companies further up the value chain like equipment manufacturers and raw material vendors, signaling a focus on enabling technology and supply chain resilience., The global healthcare services market is seeing growth driven by medical advancements, an aging population, and the expansion of health insurance, with trends towards patient-centered care, preventive care, and telemedicine integration. Supply chain management in healthcare globally is also a growing market, with increasing adoption of cloud-based tools to improve efficiency and agility.
In contrast, the Brazilian private health market, while recognizing the potential of digital health and value-based care, appears to be in earlier stages of widespread implementation. [Value Chain Analysis] The local report highlights digital transformation lag, fragmented EMR systems, and limited interoperability as bottlenecks. [Value Chain Analysis] Instead, a dominant trend in Brazil's financial intermediation and healthcare services steps is increasing vertical integration, where health plan operators acquire or build their own service delivery assets. [Value Chain Analysis] This strategy is primarily aimed at cost containment and gaining control over the provider network, a direct response to local pressures of medical inflation and reimbursement friction. [Value Chain Analysis] While cost containment is a global concern driven by factors like new technologies and increased utilization, the vertical integration model as a primary cost control strategy appears particularly prominent in the Brazilian context as described.,,
Regional disparities are a significant local challenge in Brazil, with unequal distribution of private healthcare infrastructure and human capital. [Value Chain Analysis] While global health discussions acknowledge disparities, the Brazilian report emphasizes this as a critical internal bottleneck impacting access and equity within the private system. [Value Chain Analysis] The bargaining power dynamics also show a local flavor, with health plan operators holding significant power over providers due to network accreditation and payment terms, alongside the influence of large corporate buyers of health plans. [Value Chain Analysis]
Regulatory influence is a powerful external force both globally and locally. However, the Brazilian report details the specific impact of ANS and ANVISA regulations on market supervision, price controls, technology incorporation decisions, and supply chain processes, highlighting regulatory capacity constraints as a local bottleneck. [Value Chain Analysis] Globally, regulatory changes are also a shaping factor, but the specific challenges and the dual influence of SUS and the private sector in Brazil create a unique regulatory landscape.,
Investment flows globally show strong private equity interest in healthcare, with a surge in deal value in 2024, particularly in biopharma and healthcare IT. Global M&A trends in health industries for 2025 are expected to be driven by portfolio gaps, supply chain uncertainty, and the need to acquire digital assets and technology for cost-effective, value-based care. In Brazil, recent investment activity mentioned includes significant mergers and acquisitions among health plan operators (like Hapvida-NDI), acquisitions for regional expansion (Sabin), and investments in technology and infrastructure (Fleury, Dasa). [Key Players Table, Strategic Priorities] While aligning with global trends of consolidation and technology adoption, the emphasis on vertical integration through M&A appears to be a distinct local investment driver aimed at restructuring the service delivery model.
In summary, while the overarching value chain structure is comparable, the Brazilian private health sector exhibits a more pronounced focus on vertical integration for cost control, faces significant challenges related to regional disparities and regulatory capacity, and is in earlier stages of widespread digital transformation and value-based care adoption compared to global leaders, although these are recognized as important evolutionary trends.
Trends detailing¶
| Trend | Global Outlook (2024/2025) | Local Outlook (Brazil, 2024/2025) | Similarities | Differences |
|---|---|---|---|---|
| Cost Inflation | Projected to remain high (average 10.4% globally in 2025), driven by new technologies, pharmaceuticals, and increased utilization., | Medical CPI outpacing general inflation; pressure on premium affordability. [Value Chain Analysis] Rising operating expenses for providers. | Both face significant cost pressures. | Specific drivers and the rate of inflation may vary; local context includes ANS price-cap methodology. |
| Technological Advancements | Top cost driver globally; focus on digital health, AI, telehealth, digital home monitoring, personalized treatments.,, M&A in digital health and AI assets., | Emergent business models driven by digital health and value-based care. [Value Chain Analysis] Digital transformation lag, fragmented EMR, limited interoperability as bottlenecks. [Value Chain Analysis] | Technology is a key driver of change and cost globally and locally. | Global outlook shows more advanced and widespread adoption/investment in digital health and AI compared to Brazil's identified lag. |
| Value-Based Care | Expected to become predominant reimbursement model; driving consolidation. Interest in AI and telemedicine solutions for value-based care. | Emergent business models driven by value-based care. [Value Chain Analysis] Data silos and technology assessment lag impede analytics for value-based care. [Value Chain Analysis] Transition to capitation and value-based bundles evolving from fee-for-service. [Value Chain Analysis] | Recognized as an important future model for improving outcomes and controlling costs. | Global trend shows stronger momentum and impact on market structure (consolidation) compared to Brazil's earlier stage of adoption and related bottlenecks. |
| Vertical Integration | M&A in healthcare services sector to deliver cost-effective care; PE firms investing further up the value chain (equipment, raw materials)., | Increasing vertical integration of insurers and providers as a dominant trend for cost containment and network control. [Value Chain Analysis], [Key Players Table] | Consolidation and integration are occurring globally and locally. | Vertical integration by payers acquiring providers appears to be a more prominent and explicit strategic focus in the Brazilian market dynamics described. |
| Supply Chain | Uncertainty driving M&A. Growing market for healthcare supply chain management solutions, driven by cost-cutting and resilience needs; adoption of cloud-based tools. Need for resilient global healthcare supply chains. | Vulnerability due to currency volatility impacting import costs; over-dependence on Asian suppliers exposed during the pandemic. [Value Chain Analysis] Regulatory delays (ANVISA) can impact market entry. [Value Chain Analysis] | Supply chain resilience and efficiency are important considerations globally and locally. | Brazil faces specific vulnerabilities related to imports and currency, and regulatory hurdles impact supply chain flow. Global trend includes significant investment in SCM technology. |
| Workforce | Global shortage expected to continue; focus on retention and engagement strategies. AI adoption mitigating shortages. | Projected deficit of intensivists and nurses; uneven distribution accentuating regional inequity. [Value Chain Analysis] | Workforce shortages are a global challenge. | Brazil faces specific projected deficits and distributional issues impacting regional equity. |
| Regulation | Shaping factor; potential regulatory relaxations influencing M&A; regulatory challenges for digital health integration., | Highly regulated environment (ANS, ANVISA); complex compliance burdens; regulatory capacity constraints (ANVISA staffing); impact on pricing, coverage, and technology approval. [Value Chain Analysis] | Regulation is a significant external force impacting the industry globally and locally. | Brazil has a complex and specific regulatory framework with identified local bottlenecks related to regulatory capacity and technology assessment. |
| Regional Disparities | Not explicitly detailed as a major global trend in the provided sources, although access issues exist in developing markets. | Persistent regional service gaps in infrastructure and human capital. [Value Chain Analysis] | N/A | Regional disparities are highlighted as a significant internal challenge within the Brazilian private health sector. |
| Investment Flows | High global PE activity; surge in deal value in 2024, particularly in biopharma and healthcare IT; M&A driven by technology acquisition and portfolio gaps., | M&A activity focused on vertical integration (health plans) and regional expansion/consolidation (diagnostics); investment in technology and systems. [Key Players Table, Strategic Priorities] | M&A and technology investment are key components of investment globally and locally. | Global investment shows stronger focus and higher volume in biopharma and dedicated healthcare IT firms compared to Brazil's emphasis on vertical integration M&A and operational technology. |
References¶
ABRE. “Setor farmacêutico pode crescer quase 10% em 2024, aponta pesquisa.” 12 Aug 2024. https://www.abre.org.br/noticia/setor-farmaceutico-pode-crescer Abradilan. “As 15 maiores indústrias farmacêuticas.” 27 Nov 2023. https://www.abradilan.com.br/noticias/15-maiores Abradilan. “Dez maiores farmacêuticas do Brasil detêm 48,6% das vendas.” https://abradilan.com.br/noticias/dez-maiores-farmaceuticas-do-brasil-detem-486-das-vendas/ Agência Gov. “Março de 2024: planos de assistência médica somam mais de 51 milhões de usuários.” 6 May 2024. https://agenciagov.ebc.com.br/noticias/202405 Agência Nacional de Saúde Suplementar (ANS). “ANS divulga dados de beneficiários em novembro de 2024.” 3 Jan 2025. https://www.gov.br/ans/pt-br/acesso-a-informacao/beneficiarios Agência Nacional de Saúde Suplementar (ANS). “ANS divulga dados econômico-financeiros de 2024.” https://www.gov.br/ans/pt-br/assuntos/noticias/beneficiarios/ans-divulga-dados-economico-financeiros-de-2024 Agência Brasil - EBC. “Lucro de planos de saúde aumentou 271% em 2024.” https://agenciabrasil.ebc.com.br/saude/noticia/2025-03/lucro-de-planos-de-saude-aumentou-271-em-2024 Abramed. “Painel Abramed - O DNA do Diagnóstico (6ª Edição).” https://abramed.org.br.storage-arquivo.trendscay.com.br/2024/06/Painel-Abramed-6a-Edicao_atualizado-em-junho_2024.pdf BenefíciosRH. “9 Maiores Operadoras de Planos de Saúde para 2025.” 23 May 2024. https://beneficiosrh.com.br/maiores-operadoras Blog da Fortes Tecnologia. “As 15 maiores empresas do Brasil em valor de mercado.” https://www.fortestecnologia.com.br/blog/maiores-empresas-do-brasil/ CNseg. “Planos de saúde alcançam 51 milhões de beneficiários em janeiro de 2024.” 14 Mar 2024. https://cnseg.org.br/noticias/planos-51-milhoes FenaSaúde. “O que é Saúde Suplementar? | CNseg.” https://cnseg.org.br/noticias/o-que-e-saude-suplementar.html GIFE. “Saúde Privada no Brasil: estudo inédito do IEPS e Umane analisa setor.” 28 Oct 2024. https://gife.org.br/estudo-saude-privada HSM Management. “Healthcare: O desafio é alinhar a cadeia de valor.” https://hsmmanagement.com.br/noticias/healthcare-o-desafio-e-alinhar-a-cadeia-de-valor/ INAFF. “Confira o ranking das maiores indústrias farmacêuticas em 2024.” 13 Jan 2025. https://www.inaff.com.br/confira-o-ranking-das-maiores-industrias-farmaceuticas-em-2024/ Intercept Brasil. "'Sete empresas formam oligopólio na saúde privada e controlam a economia nacional', diz pesquisador." https://theintercept.com/2024/08/02/sete-empresas-oligopolio-saude-privada/ Investe SP. “Brasil soma 47% do mercado farmacêutico na América Latina.” 17 May 2024. https://www.investe.sp.gov.br/noticia/mercado-farmaceutico ISTOÉ DINHEIRO. “Planos de saúde ganham mais de 860 mil clientes em 2024.” 5 Feb 2025. https://www.istoedinheiro.com.br/plano-de-saude Joov. “Lista de melhores planos de saúde em 2024.” 25 Oct 2024. https://joov.com.br/blog/melhores-plano-de-saude/lista/ LabNetwork. “Lab-to Lab Pardini dobra capacidade produtiva de exames e diminui prazo de entrega em 50% no Laboratório Solução em SC.” https://labnetwork.com.br/lab-to-lab-pardini-dobra-capacidade-produtiva-de-exames-e-diminui-prazo-de-entrega-em-50-no-laboratorio-solucao-em-sc/ Labtest Diagnóstica. “Gestão Laboratorial: criando a estratégia para 2024.” 18 Dec 2023. https://conteudo.labtest.com.br/gestao-laboratorial-estrategia-2024 Medicina SA. “O mercado de saúde no Brasil: desafios e potencial de crescimento.” 28 Nov 2024. https://medicnasa.com.br/noticias/o-mercado-de-saude-no-brasil-desafios-e-potencial-de-crescimento Medi Corretora. “Melhores planos de saúde 2024: Confira aqui!” 7 Oct 2024. https://medicorretora.com.br/blog/noticias/melhores-planos-de-saude-2024/ Medlife Blog. “5 melhores laboratórios Distrito Federal.” https://medlife.blog/melhores-laboratorios-distrito-federal/ Mordor Intelligence. “Mercado de dispositivos médicos – Visão geral e compartilhamento do setor.” 2024 report. https://www.mordorintelligence.com/industry-reports/medical-devices Mordor Intelligence. “Mercado de Diagnóstico Clínico- Tamanho, visão geral e tendências do setor.” https://www.mordorintelligence.com/industry-reports/clinical-diagnostics-market Mordor Intelligence. “Tamanho do mercado de serviços de laboratório clínico, tendências e participação da indústria.” https://www.mordorintelligence.com/industry-reports/clinical-laboratory-services-market Mordor Intelligence. “Tamanho do mercado Dispositivos médicos portáteis e análise de participação - Relatório de Pesquisa da Indústria - Tendências de Crescimento.” https://www.mordorintelligence.com/industry-reports/portable-medical-devices-market Moody’s Local. “Setor de Saúde no Brasil: Estrutura, Fundamentos e Tendências.” 30 Jan 2025. https://moodyslocal.com/analises-setor-saude Moody's Local. “Fleury S.A.” https://moodyslocal.com/wp-content/uploads/2024/09/Relat%C3%B3rio-de-Classifica%C3%A7%C3%A3o-Fleury-S.A.-Set.24-Publica%C3%A7%C3%A3o.pdf NSC Total. “O mercado de healthcare no Brasil.” 21 Jun 2019. https://www.nsctotal.com.br/colunistas/leo-siton/o-mercado-de-healthcare-no-brasil Noticias R7. “Cinco hospitais brasileiros estão entre os 20 melhores da América Latina, aponta pesquisa.” 13 Nov 2024. https://noticias.r7.com/saude/cinco-hospitais-brasileiros-estao-entre-os-20-melhores-da-america-latina-aponta-pesquisa-13112024 Planalto. “Lei nº 9.656, de 3 de junho de 1998.” http://www.planalto.gov.br/ccivil_03/leis/l9656.htm Poder360. “Varejo farmacêutico cresce 11% e movimenta R$ 158,4 bi em 2024.” 9 Mar 2025. https://www.poder360.com.br/economia/varejo-farmaceutico-2024 Previva. “Quais são as modalidades de operadoras de planos de saúde no Brasil?” 1 Jul 2024. https://previva.com.br/blog/operadoras-plano-de-saude/ Pride Consultoria. “Melhores planos de saúde em 2024: Saiba quais são!” https://prideconsultoria.com.br/blog/noticias/melhores-planos-de-saude-2024/ Rede D’Or São Luiz. Relatório Anual 2024. https://ri.rededor.com.br/static-files/relatorio-anual-2024 ResearchGate. “Cadeia de valor da saúde: um modelo para o sistema de saúde brasileiro.” 4 Jan 2021. https://www.researchgate.net/publication/348158631_Cadeia_de_valor_da_saude_um_modelo_para_o_sistema_de_saude_brasileiro Saúde Business. “Setor de saúde registra crescimento anual de 5,3% no mercado de trabalho.” 22 Mar 2024. https://www.saudebusiness.com/noticias/setor-de-saude-crescimento-mercado-trabalho Sebrae. “Painel Setorial Saúde.” https://www.sebrae.com.br/sites/PortalSebrae/bis/painel-setorial-saude,f8d633262c863810VgnVCM1000001b00320aRCRD Toro Investimentos Blog. “Empresas de saúde na Bolsa: quais ações comprar no setor.” https://www.toroinvestimentos.com.br/blog/investimentos/empresas-de-saude-na-bolsa Trier Sistemas. “Vendas do varejo farmacêutico atingem R$ 158,4 bilhões em 2024.” 6 Mar 2025. https://www.triersistemas.com.br/blog/vendas-varejo-farmaceutico-158-bilhoes-2024/ Unilab. “Como os melhores laboratórios do Brasil funcionam?” https://unilab.com.br/blog/como-os-melhores-laboratorios-do-brasil-funcionam/ USP Congresso. “preços e níveis de complexidade dos serviços praticados por hospitais privados junto à operadoras de.” https://www.congressousp.fipecafi.org/anais/article/download/185/187/ VEJA. “Exportações de dispositivos médicos ultrapassam US$ 1 bilhão em 2024.” 17 Feb 2025. https://veja.abril.com.br/economia/exportacoes-dispositivos-medicos-2024 Capgemini. “2025 Healthcare Trends: Embracing Digital Solutions.” 28 Feb 2025. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXEMUkMUehcnu7iWH2Fw383bAkL04nBBzd_uER4o7rVV4PVDEWk7HlhkZye9iiU48skLLTDpSW749e29arwi0LIFSW_gJe2UnQaYW4mkwZD5Vrq5GKlVk3DGNDDy_8F4wO_fDYt3yHzibh5KmnRNtmmxffd3aC3PHtBJRS7Gax_MoMnvGhmAEsNdWRkM WTW. “2025 Global Medical Trends Survey.” 16 Oct 2024. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXEQYFMNEI30yZ5_-fQ-bvyPAuPRAKXr0_b62RVylsOdc7UTIG-zNASpnZpoL2PekYyT6o8W7UsYiK5kTjF16QdmDomKzwoj2vT542cPwOs7zhVpTYb6F1aW6YIIv9bdbRPOw4oEA-pRerdwF4HOQ6pmGGEEv7MP7cKhQewxEkpQ8G87hy8= EY. “Health care transformation and growth: 2025 and beyond.” 7 Jan 2025. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXFDkpviMuxPB8ItzAKj6bdH6XOdMqHxNWYDaAQNyE88P_1t3Wn8ak4wHcjkJg4vZIeyZFOpfMRWRWs_smohZNmjsN8gb0eh62uDdUxvgPJImWQT9sX2js8jux7PoujSZqE6S51fRSj-wGVSpZC2N5ObKZDrNoDptOk-NJm5RahZeM88BZwN81mO_J8flGKV1pgdSoRv1lI= HMPI. “Value Chain Integration Strategies in Global Health.” 18 Mar 2018. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXGCaB_fMFtZFNIPwLXJDJct5annYHExXKLBq8SamKZ836LnE4ICCFI26049jVX7Rx-qEaLscL2iw1yeZN6d5fuPyht-4KWgnzEK9hPaWYzpaJqpzY0OSfqu4r43oJkJm_3BxP-zUodGy6WXlutBMehO6AKLzJ7Endqb4M7Llkfs0pnq9HMhRg== Deloitte Insights. “2025 global health care outlook.” 29 Jan 2025. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXFlFsGlhZeuAnG2978DqodFpufOvlbRJGK_GiuwqXtC8H_uHX_GHBxnorLkYX2exmgIXS37Vs_mjEvszAWR7W_x_IpMNiycogH4NOYHBHQg0U5WvKcbVTK7AdFXeVtj7H6j-TEmMDNgHpJmnoIsmeRzH06tnCnXRLQMoA08f43gQ_Mp-Peo39aSH3Fhmvh8f-2fdqQldHD0FnEyUSv_UapbVn7Ayl_qdl0ABrkeEYapnfR7Vacbo-OqPZPHUlNzXoiVt_887DPEd_iGdE2zZIVc7X61 Flevy.com. “Healthcare Industry Value Chain: Deep Dive.” 18 Jun 2024. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXGpI_1cmQ2hOssbwQWAcNY5dGLVPSe0PhwT6bNzRtqAzHyq8a1P_h8Q5-rnBE0E5zCvnIZ-GwS33FkGFBUtCYFwOdImChTFkS509-eXmW6N6jIqNlCM3KULhn_Crp7DmLcV0teTVJVSRG_8Oboulo993Joiyr_6lQ== The Business Research Company. “Healthcare Services Global Market Report 2025.” https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXEjxwD4lZ8NmcgPd_SeG4IHihtCuh0q6Wh5reVYLqms3U_rv31OqWFEIH9Vn5h_EtR77xFKp-M4FW-vZzZdWELZoIZ9XxQNYQfNVZnoOM9ulFZ5n6zL9rTnYrGXh8PIGLdtpnUCyqaAMGwgjbsjpiLBQRYWV59O2NF8G4Cj2mNdMBaXIlTZBRvsaQFpDK1mnw== Fortune Business Insights. “Health Insurance Market Size, Share | Industry Forecast.” https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXExixwzbKYZr0oRXBMAOsAGSBAxKOMd6WVVVMaXwyjDJSLe2S5b4Ewch3zGw-LZ5a2kER_DfWgiQEaNR92pvoBW-Rj7hoFol3LJvijlT12bWXTf36sjtc1Wcb0Nm2XeC1K70FX3MhSeqmQgjkXOi7Ta9WpKZs9Xs7SZux2H World Health Expo. “Megatrends shaping healthcare in 2024.” 12 Mar 2024. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXESsE7xP1TBCP3zEI8n9fMSp8W7wO6BM6LeRaJ3XE5Na2LK2TSwcKDmn36Wr4u1xLpym8bxNxE72XGJkzoXF6aHGThbyW4q_whJjSWYk_E5hnK0cD4IXBC7YuoaBy3TH38xduGmHugQyf4EIuSMQaOLXu7yoqxW-HPk3i62lQWizDxmR9g_TwNjRCNewx8I5xhFhdsD2TGe Banyan Global. “1 Applying the Value Chain Framework to the Health Sector | Banyan Global.” https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXGOIlYMUXyuBIhyTraNX-EkIHvYBt-vT5RqMOq3sTSx9jcgNkI6WHnwxNkUo8n6mUM4TNZfD0xF8wUAcfxRl6oX1ArjmbRQlSylcztI136ZXMZqAi8RKI7bWrjhDeSInEOJCoYwELWwT19k9d76qnU7KECC0e9efH_cyuLDdVvMAxp3sA9fHUyGwt_lY38O4l4nkg1G-8NtubtiI1xsjU_2bDtxxPBb5g== Fortune Business Insights. “Healthcare Supply Chain Management Market Growth.” https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXG4A0vcC5n0RK47bzRJmorDLb1ExOoYfqce5BSuk2m7j8iVexChDvmLhLxRr-tNv6AIHMEeBL1a1T3mZoy_vyi2dKSao0BCkk29sgEj_JJlg4UO_B1jIStR29Wh9z02ODTy-b9cTLyU8_a88NKozTP5r9_9KmEskjmwvi5ChdS6SMvTLCVt1cf_WUQe1gc5tHfU4XsgayPI0aIv9U_Kw= PwC. “Medical cost trend: Behind the numbers 2025.” https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXGPjivMr8xHz6DxtqjTIdCrWwFFqdCW_AwTYNNbtIn0IPNTcecTYC46kKTndGsL-2fVNNtjWPaFNPhA0rNzS22AkHm6AjaYxIB3czG5R4oyC6iFEDcrzXM9YWgssgCPULdY5pjaYzdwsrSuxUd20Qfaq6hvISkW2ET9SmVVPyA7X7qiZirZ5hudrHokng== World Bank Documents and Reports. “The Role of the Private Sector in Expanding Health Access to the Base of the Pyramid.” https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXGsJGMnFytI-kEnbXRGlx6myWhqDhvqGFe__PpuWumr9jNCw66VzxU6cCUtFUj1Hk_h9gQGvFD-c_3mXOTSuJ4R26Y4YAx1RNtS5CYFpNHG0yLKYMFjIjGxZVLDJDKrMjNVPxy1bRuJ6T261kQSxi9Rw2e4lrQLwdUho_t-PDydoeHmn-6zoa82BDwOQR_EMDbsHXTBCDJrp1Mik6LB-w== African Development Bank. “Unlocking healthcare value chains and driving investment through partnerships.” 27 Apr 2024. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXF6ybxGHMes_7vwF3w1qRJyFZoDha8fg70fTyZCerbeJ3Z-y-cLi4kWBbDwyex4PIZwa-QZsJZGaB6nBe7tHfkH5g9GlGkSQgClk6_hP8u1f89tmhIiXnA_Wf3LlEwLLnrxL_IbGDrGYNBM8iMJZf-V0hOAmJmF5G-QYkc0Kvc-rl8l8QFbbRIoHYvkr-O2tZVMn1rSVg5twR-z24AiBQnHWw4l-DcZhi-AIiAclqlRUHM0Ad_-