Cardiac pacemakers are implantable medical devices that are used to regulate abnormal heart rates and heart rhythms by delivering small electrical impulses to the heart. They help regulate the heart’s beating and pacing which in turn improves the quality of life for patients suffering from bradycardia and heart block conditions. Growing prevalence of cardiovascular diseases and rising aging population are major factors fueling the demand for cardiac pacemakers in Brazil.
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 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The Brazil cardiac pacemakers market is primarily driven by growing burden of cardiovascular diseases. According to the estimates of the World Health Organization, cardiovascular diseases account for over 17.9 million deaths annually in Brazil and over 75% of cardiovascular disease deaths are due to heart attacks and strokes. In addition, aging population is another demographic factor augmenting the prevalence of cardiovascular diseases and thus driving the demand for cardiac pacemakers. For instance, according to United Nations estimate, by 2050, 1 in 5 Brazilians will be over 60 years old. Older people are more prone to develop cardiovascular complications that will increase dependency on pacemakers. Hence, growing cardiovascular patient pool coupled with aging population is expected to propel the Brazil cardiac pacemakers market over the forecast period.
SWOT Analysis
Strength: The Brazil cardiac pacemakers market has a large target population that requires pacemaker devices. The prevalence of cardiovascular diseases is increasing which is driving the demand for cardiac pacemakers.
Weakness: High cost of pacemaker devices makes it unaffordable for many patients. Lack of awareness about newer technologies remains a challenge.
Opportunity: Advancements in pacemaker technologies offers opportunities for extended longevity and miniaturized devices. Growing healthcare expenditure in Brazil creates growth potential.
Threats: Stringent regulatory landscape and reimbursement policies increase complexity. Vulnerability to pricing pressures from supply side economies.
Key Takeaways
The global Brazil cardiac pacemakers market demand 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 15% over the forecast period 2023 to 2030.
The Brazil cardiac pacemakers market is expected to grow at a high rate during the forecast period. The South region currently dominates the market owing to presence of advanced healthcare facilities and growing patient pool. However, the North region is expected to lucrative growth prospects over coming years.
Key players
Key players operating in the Brazil cardiac pacemakers market are American Art Therapy Association, Art Therapy Without Borders, Art With Impact, Canadian Art Therapy Association, Creative Growth Art Center, Expressive Media, International Expressive Arts Therapy Association, Luna Children’s Charity, Montage Arts Therapy, National Institute for Trauma and Loss in Children.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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