Latin America Pacemaker Market

Latin America Pacemaker Market Size (2023 to 2028)

During the forecast period, the pacemaker market in the Latin American region is estimated to grow at a CAGR of 5.01%. The size of the market is predicted to hit USD 0.37 billion in 2023 and USD 0.48 billion by 2028.

Rising incidences of cardiovascular problems and the increasing prevalence of quality healthcare services are majorly driving the growth rate of the market. The government support through funds and investments in pharmaceutical companies is fuelling the market growth. Favorable reimbursement policies, burgeoning research and development investments for pacemakers, rise in expenses made for healthcare, and regular FDA approvals for the launch of new product devices are further accelerating the Latin America Pacemaker Devices Market.

The treatment process with the pacemakers is a bit expensive where ordinary people cannot afford it, and this factor is slowly hindering the growth of the market. Less knowledge over the availability of different treatment procedures is hampering the pacemaker market. The existence of alternate treatment procedures like cardiac ablation catheters and cardio defibrillators at an affordable price may also impede the market.

This research report on the Latin America Pacemaker Market has been segmented and sub-segmented into the following categories:

 By Product:

• Implantable
• External Pacemakers

By Application:

• Unipolar
• Bipolar Pacemakers

By Country:

• Brazil
• Argentina
• Chile
• Mexico
• Rest of Latin America

Regional Analysis:

Latin America's pacemaker devices' market size is anticipated to have a steady and constant CAGR during the analysis period. The market is attributed to the increasing aging population where people above 65 years and above are prone to have more cardiac disorders. Nearly 80% to 85% of the pacemakers are implanted in older people, and an increase in chronic diseases like heart attacks, diabetes, hypertension, expansion of atrial fibrillation are impelling the market. Brazil is ruling the pacemaker market due to introducing new products and growing acceptance for minimally invasive surgeries. In Brazil, cardiovascular diseases in adults are estimated to grow up to 13.6 million by 2035. Mexico and Argentina are expected to have considerable growth in the market.

Prominent companies in Latin America Pacemaker Market profiled in this report are Medtronic, Sorin Group, Biotronik GmbH & Co. KG., Boston Scientific Corporation, Vitatron, St. Jude Medical, Inc., and Zoll Medical Corporation.