The 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 Overview: Cardiac pacemakers are medical devices that are implanted in patients with slow heartbeat to regulate the rhythm and rate of heartbeats. Cardiac pacemakers have electrodes that sense electrical activity in the heart and function to deliver electrical impulses to stimulate heart muscles to contract and pump blood circulating in the body. Cardiac pacemakers help improve the quality of life of patients and reduce the risk of life-threatening conditions. Market key trends: Technological advancements in cardiac pacemakers is a key trend driving growth of the Brazil cardiac pacemakers market. Manufacturers are increasingly focusing on advanced functions, miniaturization, improved programming capabilities and connectivity of pacemakers to enable remote monitoring. For instance, MRI-compatible pacemakers allow patients to undergo Magnetic Resonance Imaging scans without requiring pacemaker removal. Dual-chamber and biventricular pacemakers provide enhanced physiologic pacing compared to single-chamber pacemakers. Growing elderly population which is more susceptible to cardiac disorders is also fueling demand for cardiac pacemakers in Brazil. Porter's Analysis Threat of new entrants: The threat of new entrants is moderate as the regulatory requirements and licensing process makes the market entry difficult for new players. However, large players are focusing on strategic partnerships and acquisitions to enter the market. Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established players operating in the market providing a variety of products at competitive prices. However, the need for cardiac pacemakers is increasing due to rising cardiac diseases. Bargaining power of suppliers: The bargaining power of suppliers is low as there are many raw material suppliers and manufacturers in the market. Switching costs are also low for manufacturers and suppliers. Threat of new substitutes: The threat of new substitutes is low as there are limited treatment alternatives for cardiac arrhythmias other than pacemakers. However, research is ongoing for developing alternative treatment methods. Competitive rivalry: The competitive rivalry is high due to the presence of many global and domestic players offering comparable products. Players compete based on product development, quality, pricing and expanding their distribution networks. SWOT Analysis: Strengths: Growing geriatric population prone to cardiac disorders, rising healthcare expenditure, established distribution network of key players. Weaknesses: High cost of devices, lack of reimbursement in certain regions, stringent regulatory framework. Opportunities: Expanding product portfolio, strategic collaborations, growing medical tourism. Threats: Risk of product recalls, threat from refurbished/imitation products, reimbursement policies uncertainty. Key Takeaways: The Brazil Cardiac Pacemakers Market Size is expected to witness a CAGR of 2.4% over the forecast period due to the rising prevalence of cardiovascular diseases and growing healthcare expenditure. The geriatric population in Brazil is prone to various cardiac disorders requiring pacemaker implants which is expected to drive the market growth. Regionally, South region dominates the Brazil cardiac pacemakers market due to presence of major players, growing medical infrastructure and accessibility. The Northeast region is expected to grow at a highest CAGR during the forecast period. 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. Players are focusing on new product launches, collaborations and expanding their presence across the country by strengthening distribution channels. Read more https://www.ukwebwire.com/brazil-cardiac-pacemakers-market-size-share-growth-outlook-2023/
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