by The Brazil Cardiac Pacemakers Market is estimated to be valued at US$ 319.82 Mn in 2023 and is expected to exhibit a CAGR of 2.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cardiac pacemakers are small medical devices that are implanted in patients with irregular heartbeats, known as arrhythmias. They help maintain a regular heartbeat by sending electrical pulses to the heart. Main components of pacemakers include pulse generator and lead(s). Lead(s) transmit electrical signals between the generator and heart. They help improve quality of life and reduce mortality rates in patients suffering from bradycardia and other heart rhythm problems.
Market Dynamics:
Growing geriatric population and increasing prevalence of cardiovascular diseases are major factors driving growth of the Brazil cardiac pacemakers market. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death globally, taking an estimated 17.9 million lives each year. High blood pressure, tobacco use, unhealthy diet and obesity, physical inactivity and excessive alcohol use are key risk factors contributing to the growing burden of cardiovascular diseases. Moreover, increasing life expectancy has resulted in rising number of elderly individuals in Brazil who are more prone to heart disorders. This is expected to significantly drive the demand for cardiac pacemakers over the forecast period. Additionally, advancements in pacemaker technologies such as emergence of MRI-compatible pacemakers and leadless pacemakers are further expected to boost market growth.
Segment Analysis
The Brazil cardiac pacemakers market is dominated by implantable pacemakers segment. Implantable pacemakers are small battery-operated medical devices that are implanted in the chest or abdomen to help control abnormal heart rhythms. These devices are highly preferred over external pacemakers as they are more comfortable, convenient and clinically more effective as patients do not require to carry or connect any external device. Implantable pacemakers provide continuous monitoring and treatment of arrhythmias.
PEST Analysis
Political: The government of Brazil actively supports the healthcare sector through favorable policies and budgetary allocations. It aims to expand health insurance coverage to the entire population which will boost the demand for cardiac devices.
Economic: Rising healthcare expenditure, growing per capita income and increasing burden of cardiovascular diseases are fueling the growth of cardiac pacemakers market in Brazil. Additionally, favorable reimbursement policies make the treatment affordable.
Social: Growing awareness about various heart disorders and available treatment options is driving more patients to opt for pacemaker implants. Also, changing lifestyle habits are adding to the risk of heart diseases.
Technological: Leading manufacturers are introducing innovative pacemaker devices with extended longevity, remote monitoring capabilities and compatibility with mobile applications. Miniaturization of devices is making the implants more effective and comfortable.
Key Takeaways
The Brazil Cardiac Pacemakers Market Size is expected to grow at a CAGR of 2.4% during 2023-2030 due to rising geriatric population susceptible to arrhythmias. Brazil has the largest economy in Latin America presenting lucrative opportunities for pacemaker manufacturers.
Regional analysis: The Southeast region dominates the market and is projected to maintain its lead position during the forecast period owing to higher disease prevalence and availability of advanced healthcare facilities in states like Sao Paulo and Rio de Janeiro.
Key players analysis: Key players operating in the Brazil cardiac pacemakers market are BIOTRONIK SE & Co.KG, Medtronic plc., Boston Scientific Corporation, Abbott Laboratories, LivaNova plc., Osypka Medical GmbH, and MEDICO S.p.A. These vendors are focusing on launching innovative technology-driven pacemakers as well as establishing partnerships with hospitals to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
