The Brazil Cardiovascular Devices Market is expected to register a CAGR of 2.5% during the forecast period. The major factors driving the growth of the market in Brazil are due to the increasing burden of cardiovascular diseases and increased adoption of minimally invasive procedures.
According to the 2017 study report by Gagnon-Arpin et al, stated the prevalence of cardiovascular diseases (CVD) in Brazil adults is projected to increase to 13.6 million by 2035, while the economic burden, including both direct and indirect costs, would increase to USD 40 billion.
Furthermore, due to increasing awareness about various heart diseases in Brazil along with the increasing number of the elderly population in the country which is expected to show significant growth over the forecast period.
Key Market Trends
Electrocardiogram (ECG) is Expected to Dominate the Diagnostic And Monitoring Segment Over the Forecast Period
An electrocardiogram (ECG) records the electrical signals from the heart. It is a common and painless test used to detect heart problems and monitor the heart’s health.
According to the World health organization (WHO) 2017, approximately 164,557 or 15.56% of total deaths were due to coronary heart disease deaths in Brazil in the year 2017 and was considered the highest cause of death. This can be reduced marginally with the effective adoption of cardiovascular devices.
Currently, there are portable and compact electrocardiogram (ECG) is driving its greater adoption, especially in the home healthcare segment. Moreover, increasing cardiovascular diseases in the country by adopting these devices can help in monitoring the heart condition. Thus, owing to the above factors the segment is expected to show a healthy growth rate in the near future.
The Brazil cardiovascular devices market is competitive. The major players have established themselves in specific segments of the market. Some of the players who are currently dominating the market are Medtronic, Inc (Covidien Plc), Boston Scientific Corporation, Edwards Lifesciences, Abbott Laboratories, Cardinal Health Inc, C.R. Bard, Inc, Terumo Corporation, Braile Biomedica Ltda and Biotronik SE & Co. KG.
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