Cardiac pacemakers are small medical devices that are implanted in patients suffering from abnormalities in heart rhythms. They help regulate heartbeat by sending electrical impulses to the heart. The rising prevalence of cardiovascular diseases due to changing lifestyle patterns and increasing geriatric population has boosted the demand for cardiac pacemakers in Brazil.
The global Brazil Cardiac Pacemakers Market is estimated to be valued at US$ 368.44 Bn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rise in Cardiovascular Diseases Prevalence:
The increasing prevalence of cardiovascular diseases such as arrhythmias, heart failure and coronary heart disease has contributed significantly to the growth of the Brazil cardiac pacemakers market size. As per the World Health Organization statistics, cardiovascular diseases are the leading cause of death in Brazil. With the growing risk factors such as obesity, smoking, physical inactivity and high cholesterol levels, the incidences of cardiovascular diseases are expected to rise further during the forecast period, thereby providing an impetus to the adoption of cardiac pacemakers in Brazil.
SWOT Analysis
Strength: Advanced healthcare infrastructure and favorable government policies for medical device companies boosts growth. Adoption of technologically advanced pacemakers drive sales.
Weakness: Low awareness regarding cardiac conditions hinders pacemakers adoption. High cost of pacemakers limits purchase.
Opportunity: Rising geriatric population and increasing obese population prone to cardiac issues offers new prospects. Growing health insurance coverage expands addressable market.
Threats: Stringent regulatory norms for approval delays product launches. Risk of developing complications and infections post pacemaker implantation.
Key Takeaways
The global Brazil Cardiac Pacemakers Market is expected to witness high growth. The global Brazil Cardiac Pacemakers Market is estimated to be valued at US$ 368.44 Bn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.
The Brazil cardiac pacemakers market is projected to grow at a CAGR of 4.5% during the forecast period. This can be attributed to the large population suffering from cardiovascular diseases and government initiatives to improve access to healthcare. Additionally, rising health awareness among people has increased the pacemakers adoption rate in the country.
Key players operating in the Brazil cardiac pacemakers market are Medtronic, BIOTRONIK, Boston Scientific Corporation and Abbott. Abbott and Medtronic currently dominate the Brazil market with over 60% revenue share collectively. These companies have established strong distribution and product portfolios catering to the growing demand. They are expected to tap into new opportunities arising from the increasing prevalence of cardiac disorders.
The increasing penetration of health insurance is another factor driving the Brazil cardiac pacemakers market. Major insurance providers like Bradesco Saude and Amil offer partial to full coverage for pacemaker implantation procedures. This has made the treatment affordable for many and boosted the consumer spending on cardiac devices. The southern region holds the largest share currently due to presence of major manufacturers and healthcare facilities. However, the northern region is witnessing faster pacemakers adoption over the forecast period.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it