by Cardiac pacemakers are medical devices that are implanted inside the body to regulate abnormal heart rhythms by delivering electrical pulses to the heart. They help maintain a regular heart rhythm and stabilize irregular heartbeats. The increasing prevalence of cardiovascular diseases and growing geriatric population that is more prone to cardiac problems have fueled the demand for cardiac pacemakers in Brazil. According to the World Health Organization, cardiovascular diseases account for over 30% of deaths in Brazil each year. Cardiac pacemakers help improve the quality of life of patients suffering from arrhythmias by restoring normal sinus rhythm.
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:
Advancements in pacemaker technology have widened their scope of applications. The development of leadless pacemakers that do not require pacemaker wires has enabled their use in younger patient population. This technology eliminates the risk of infection associated with traditional pacemaker devices. Moreover, adoption of bioresorbable pacemakers that dissolve after delivering therapy for a certain duration of time is gaining traction. Such temporary pacemakers do not require removal surgery post treatment completion. On the regulatory front, favorable reimbursement policies for pacemaker implantation procedures in Brazil are supporting market growth. Additionally, increasing collaboration between device manufacturers and healthcare providers for research on remote monitoring technologies will open new opportunities in the future.
Porter’s Analysis
Threat of new entrants: Low as the Global Brazil Cardiac Pacemakers Market Size is a consolidated market with stringent regulatory polices.
Bargaining power of buyers: Moderate as the buyers have bargaining power due to presence of substitutes and price differentiation by manufacturers.
Bargaining power of suppliers: Moderate as key suppliers have established relationship with manufacturers.
Threat of new substitutes: Low as pacemakers are unique medical devices with no viable substitutes available.
Competitive rivalry: High as the market is led few multinational players adopting both organic and inorganic strategies.
Key Takeaways
The Brazil cardiac pacemakers market is expected to witness high growth supported by increasing obesity rates, sedentary lifestyles and ageing population leading to rising incidence of cardiac diseases. 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 Southeast region dominates the Brazil cardiac pacemakers market owing to presence of leading players and developed healthcare infrastructure. States like Sao Paulo and Rio de Janeiro are the 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 plc holds the leading market share due to wide product portfolio and strong brand presence.
*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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