A pacemaker is inserted in the chest to help manage the heartbeat of patient. It is used from preventing the heart from beating slowly. It requires surgical procedure to insert a pacemaker in the chest. Pacemaker is also known as cardiac pacing device. The pacemaker starts sending the electrical signals if the heartbeat is slow to correct the beat. The new pacemakers have the sensors which detect the body motion or breathing rate and signals the device to increase the heart rate through the exercise, as per needed. Pacemaker has 2 parts: pulse generator and lead (electrodes). The pacemaker would stop functioning because of some electrical involvement, such as Cell phones, Security systems, medical equipment, and power-generating equipment.
Some pacemakers can also help the chambers of heartbeat in sync. Brazil cardiac pacemakers market would witness a significant growth during the forecast period (2021 - 2028), owing to increasing need of cardiac pacemaker implantation due to high prevalence of Chagas disease and growing trend of medical tourism in Brazil.
Brazil cardiac pacemakers market is estimated to be valued at US$ 305 million in 2021 and is expected to exhibit a CAGR of 2.4% over the forecast period (2021-2028).
Figure 1. Brazil Cardiac Pacemakers Market Value (US$ Mn), By Product Type, 2021
Figure 1.1 Brazil Cardiac Pacemakers Market Value (US$ Mn), By Product Type, 2028
|Base Year:||2020||Market Size in 2021:||US$ 305 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||2.4%||2028 Value Projection:||US$ 359.3 Mn|
BIOTRONIK SE & Co.KG, Medtronic plc., Boston Scientific Corporation, Abbott Laboratories, LivaNova plc., Osypka Medical GmbH, and MEDICO S.p.A.
|Restraints & Challenges:||
Figure 2. Brazil Cardiac Pacemakers Market Value (US$ Mn), By Technology, 2021
Figure 2.1 Brazil Cardiac Pacemakers Market Value (US$ Mn), By Technology, 2028
Various government and private organizations are focused on initiatives for increasing awareness regarding Chagas disease, which is expected to increase treatment rate, and adoption rate of cardiac pacemakers in Brazil.
The increasing product launches and approvals are expected to drive the market growth over the forecast period.
For instance, in August 2017, the U.S. FDA assured an alert regarding the security flaws in 465, 000 pacemakers of Abbott Laboratories and recalled them, stating that, these pacemaker may be vulnerable to hacking.
According to U.S. FDA, security flaws allows hackers to reprogram the devices to run the batteries down or modify the patients’ heartbeat, putting millions of patients’ lives at risk.
Brazil Cardiac Pacemakers Market – Impact of Coronavirus (Covid-19) Pandemic
Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 3.3 million new cases were reported, across the globe.
The COVID-19 pandemic and lockdown in various countries across the globe has negatively impacted the financial status of businesses across all sectors. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. Likewise, COVID-19 pandemic is expected to have a negative impact on Cardiac Pacemakers Market Cardiac Pacemakers Market
For instance, as per National Library of Medicine, reduction in pacemaker implantation of 73% was noticed within the COVID-19 pandemic period, and reduction of 78% in patients with the treatment of complete atrioventricular block and reduction in de-novo pacemaker insert was noticed.
Brazil Cardiac Pacemakers Market Restraint
Cardiac pacemaker infections are complex to manage, as there are intra-cardiac and extra-cardiac components, which may get infected and removal of the device is associated with a risk of death or significant complications. Long term hospital stays and multiple in-patient hospital admissions are common in pacemaker infections and efforts to treat infected systems often results in unnecessarily prolonged courses of treatment. Furthermore, cardiac pacemaker infections can be difficult to diagnose. The diagnosis is more difficult in infective endocarditis (IE) as echocardiography is less accurate, blood cultures are less sensitive, and the diagnosis is often not considered.
Major players operating in the Brazil cardiac pacemakers market include BIOTRONIK SE & Co.KG, Medtronic plc., Boston Scientific Corporation, Abbott Laboratories, Ivanovo plc., Osyka Medical GmbH, MEDICO S.p.A