Cardiac pacemakers are medical devices that are used for the treatment of arrhythmias and regulate heartbeats by sending electrical impulses to the heart muscles. They are small battery-operated devices that are implanted in patients requiring continuous electrical therapy for controlling cardiac arrhythmias. Pacemakers help regulate heart rhythms that may be too slow or fast by coordinating with the natural pacemaker. The most common indications for pacemakers include various types of heart block and atrioventricular (AV) conduction disorders.
The global Brazil cardiac pacemakers market is estimated to be valued at US$ 368.44 billion in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2031, as highlighted in a new report published by Coherent Market Insights.
According to the Pan American Health Organization, cardiovascular diseases (CVDs) are estimated to be the leading cause of death in Brazil, accounting for over 30% of all fatalities in adults over the age of 35. CVDs include a range of conditions affecting the structure and function of the heart and blood vessels. This includes cardiac pacemakers. The soaring burden of CVDs coupled with increasing efforts for creating awareness about early diagnosis and treatment is expected to propel the demand for cardiac pacemakers over the forecast period.
Market Dynamics:
Increasing incidences of cardiovascular diseases is a key driver propelling growth of the Brazil cardiac pacemakers market. Growing geriatric population and rising prevalence of lifestyle diseases such as diabetes and hypertension are resulting in increased risk of CVDs, thus driving demand for devices such as pacemakers. For instance, according to World Bank estimates, the percentage of Brazil’s population aged 65 years and above increased from 6.4% in 2000 to 9.3% in 2020. Furthermore, initiatives by governments and healthcare organizations to spread awareness about early diagnosis and effective management of arrhythmias is creating growth opportunities for pacemaker manufacturers and providers. However, high cost of implantable pacemakers along with lack of trained professionals remain a key challenge to market growth.
Segment Analysis
The Brazil cardiac pacemakers market is dominated by the implantable pacemaker sub-segment, which holds around 90% share of the overall market. Implantable pacemakers are preferred more as they can be implanted inside the body and have longer lifespan as compared to external pacemakers. The implantable pacemakers sub-segment is projected to continue its dominance over the forecast period owing to the associated benefits and rising demand for advanced medical treatments.
PEST Analysis
Political: The government of Brazil provides universal public healthcare which covers majority of population. It aims to modernize healthcare sector which is positively impacting the cardiac devices market.
Economic: Brazil has steady GDP growth rate which is raising disposable incomes. Healthcare expenditure is also increasing, driving demand for advanced cardiac pacemakers.
Social: Rising obesity and sedentary lifestyle among population is leading to higher prevalence of cardiovascular diseases. This is augmenting the need for cardiac pacemakers.
Technological: Vendors are launching pacemakers with advanced features like mobility, longer battery life and small size. Also, development of biodegradable pacemakers is enabling new opportunities in the market.
Key Takeaways
The Global Brazil Cardiac Pacemakers Market Size is estimated to be valued at US$ 368.44 billion in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.
The southeast region of Brazil accounted for largest share of over 30% in 2024 due to growing awareness, healthcare spending and availability of major players in the region. Some key market players are Medtronic, Boston Scientific Corporation, Abbott and BIOTRONIK.
Key players operating in the Brazil cardiac pacemakers market are Medtronic, Boston Scientific Corporation, Abbott and BIOTRONIK. Technological advancements by these players, such as miniaturized pacemakers with better features, is supporting market growth. These players are focused on strengthening their product portfolio and expanding geographic presence in Brazil.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it