Cardiac pacemakers are implantable medical devices that help maintain normal heart rhythm in patients with heart arrhythmias. They work by sending electrical impulses to the heart through thin wires called leads that help stimulate the lower chambers of the heart to beat in a coordinated way. These devices have significantly improved lives of patients suffering from irregular heartbeats.
The global 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 key trends:
Technological advancements in cardiac pacemakers are expected to drive market growth over the forecast period. Pacemaker technology has advanced significantly with the advent of leadless pacemakers which do not require cardiac leads running through veins to connect the pacemaker to the heart. These leadless pacemakers are smaller in size and eliminate potential lead complications. Further, advancements such as integratedcircuits and lithium batteries have helped miniaturize device sizes and increase their longevity and reliability. This has further expanded applications and driven adoption of these devices.
SWOT Analysis
Strength: The Brazil cardiac pacemakers market has strong presence of multinational medical device companies which ensures availability of advanced pacemaker technologies.
Weakness: Lack of awareness regarding cardiac conditions and treatment options in remote areas. High cost of cardiac pacemakers limits their adoption.
Opportunity: Growing geriatric population and increasing prevalence of cardiovascular diseases drives the demand for cardiac pacemakers. Favorable government policies to strengthen healthcare infrastructure also presents new opportunities.
Threats: Stringent regulatory approvals and reimbursement policies prolong market entry of new devices. Emerging low-cost alternatives from local manufacturers increases competition.
Key Takeaways
The Global Brazil Cardiac Pacemakers Market Size is expected to witness high growth. The global 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.
The Northeast region dominates the Brazil cardiac pacemakers market due to growing burden of CVDs and availability of advanced healthcare facilities. States like Sao Paulo and Rio de Janeiro are major revenue generators.
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. Medtronic and Boston Scientific captured over 60% share owing to their robust portfolios of implantable pacemakers and implantable loop recorders.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it