Brazil Cardiac Pacemakers: Current Scenario And Future Growth Prospects
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Brazil Cardiac Pacemakers |
Cardiovascular diseases are the leading cause of mortality in Brazil. A large section of elderly population in Brazil is suffering from various cardiac conditions like arrhythmias, heart blockages etc. that require implantation of pacemakers. The growing prevalence of such cardiac issues has boosted the pacemaker market in Brazil over the years. In this article, we analyze the current state and future potential of the cardiac pacemakers market in Brazil.
Market Size and Growth Trends
It is estimated that around 400,000 Brazilians currently have pacemakers
implanted. The cardiac pacemakers market in Brazil was valued at US$ 170
million in 2020. Several factors are contributing to the steady growth of this
market. The rising geriatric population prone to arrhythmias, growing awareness
about cardiac care, improving healthcare infrastructure and availability of
newer pacemaker technologies are fueling demand. The market is projected to
grow at a CAGR of 5-6% during 2021-2026. The development of miniaturized
pacemakers and remote monitoring systems is further expected to provide a
strong impetus.
Product Categories
The Brazil cardiac pacemakers can be segmented based on product type into
implantable pacemakers and external pacemakers. Implantable pacemakers account
for over 90% share currently due to their longer-term effectiveness and
convenience. These are further divided into single chamber pacemakers, dual
chamber pacemakers and biventricular pacemakers based on the number of heart
chambers regulated. Dual chamber pacemakers have emerged as the major revenue
generator as they provide more synchronized pacing of heart chambers.
Leading Companies
Other
prominent players include Abbott, Boston Scientific and BIOTRONIK. These
multinational companies have well-established local production and distribution
networks in Brazil. They are constantly launching new pacemaker models with
improved features to gain market share. Local companies like Arthro and
Cardiostim are also striving to strengthen their presence through
cost-effective offerings.
Distribution Channels
Cardiac pacemakers in Brazil are primarily distributed through hospitals and
clinics. The public healthcare system accounts for a large share presently due
to it providing free/subsidized treatment and devices to general population.
However, private hospitals and clinics are growing rapidly due to expansion of
private health insurances. Distributors and wholesalers also play an important
role in supplying pacemakers from manufacturers to end-user healthcare
facilities across the country. Online sales of pacemakers have very limited
presence currently in Brazil.
Government Initiatives and Reimbursement Policies
The Brazilian government has implemented various policies and programs to boost
the cardiac care sector. It aims to increase cardiology infrastructure through
public-private partnerships. The national health insurance SUS provides full or
partial coverage for pacemaker implantation procedures and devices. This has
made lifesaving pacemaker therapy accessible to common citizens. The government
also regulates prices to some extent through an elaborate system to ensure
affordability of cardiac devices. Such supportive initiatives will continue to
drive pacemaker adoption.
Future Prospects and Conclusion
The aging population demographics and growing prevalence of Brazil
Cardiac Pacemakers a huge unmet
need for pacemakers in Brazil. It is estimated that only about 15% of the
potential target population currently uses pacemakers. Technological
advancements in remote monitoring, miniaturization and battery longevity will
expand the eligible patient pool in future. Rising lifestyle diseases and
obesity will further burden the heart healthcare needs. With steady economic
growth and focus on universal healthcare, more number of Brazilians are
expected to gain insurance cover for cardiac treatments. All these factors
indicate strong growth opportunities for pacemaker manufacturers and healthcare
providers in Brazil over the long term. The market is poised to exceed
valuation of US$ 250 million by 2026.
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