by Cardiac pacemakers are battery-powered medical devices which are implanted under the skin of the chest to help regulate abnormal heart rhythms. Pacemakers work by sending out electrical signals to coordinate and steady the heartbeats. These devices help improve heart function and alleviate symptoms associated with abnormal heart rhythms such as dizziness, palpitation and fatigue. The rising prevalence of cardiovascular diseases such as arrhythmias and heart failure has increased the demand for cardiac pacemakers in Brazil. Cardiovascular diseases are among the leading causes of mortality in Brazil, representing around 30% of all deaths annually.
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:
One of the major trends in the Brazil cardiac pacemakers market is the increasing adoption of MRI-compatible cardiac pacemakers. Conventionally, patients with implanted cardiac pacemakers were advised to avoid MRI scans as the MRI’s strong magnetic and radiofrequency fields could potentially disturb the function of pacemakers. However, latest MRI-compatible pacemakers feature advanced technologies to neutralize the effects of MRI scans. The introduction of MRI-compatible pacemakers allows patients to undergo scanning procedures for accurate diagnosis and treatment monitoring without having to remove their pacemakers. This has boosted the demand for innovative MRI-compatible pacemakers in Brazil. Another significant trend is the growing preference for leadless pacemakers over conventional transvenous pacemakers. Leadless pacemakers are tiny self-contained devices implanted directly into the heart chambers through a catheter, eliminating the need for pacemaker leads running through the veins. Advantages such as reduction in surgical risks, better patient comfort and mobility with leadless design are fueling the demand for leadless pacemakers in Brazil.
Porter’s Analysis
Threat of new entrants: Low barriers to entry such as less regulation and needs of growing aging population support new entrants in the Brazil cardiac pacemakers market.
Bargaining power of buyers: Individual buyers have low bargaining power due to importance of cardiac pacemakers but group purchasing organizations have higher bargaining power due to volume buying.
Bargaining power of suppliers: Few major global players supply pacemaker technologies and components thus giving them higher bargaining power over original equipment manufacturers.
Threat of new substitutes: Technology innovation in implantable cardioverter defibrillators and cardiac resynchronization therapy pose potential threat.
Competitive rivalry: Intense competition exists among major international players to gain more market share through new product launches and expansions.
Key Takeaways
The global Brazil cardiac pacemakers market size is expected to witness high growth. The rising prevalence of cardiovascular diseases along with growing geriatric population prone to arrhythmias are driving the growth of the market in Brazil. The southern region currently dominates the Brazil cardiac pacemakers market owing to presence of major hospitals and availability of advanced healthcare facilities. 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.
Regional analysis: The southern region of Brazil currently dominates the market and is expected to maintain its position during the forecast period owing to highly developed healthcare infrastructure and increasing accessibility. However, the northeast region is anticipated to witness fastest growth due to improving healthcare services in the region.
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, and National Institute for Trauma and Loss in Children. These players are focusing on new product launches and expansion strategies to gain more market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
