Global Cardiac Resynchronization Therapy Market Overview
Cardiac Resynchronization Therapy Market Size was valued at USD 4.99 Billion in 2023. The Global Cardiac Resynchronization Therapy industry is projected to grow from USD 5.22 Billion in 2024 to USD 7.43 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.15% during the forecast period (2024 - 2032).
The increasing prevalence rate of cardiac diseases followed by, rising demand for invasive techniques, fueling market growth.
Cardiac disease is the leading cause of death for US population. Biotronik announced FDA approval of the world's first MRI-safe pacemaker with a subcutaneous defibrillator (S-ICD) lead for patients with heart failure in February 2024.
This new device, called the Biotronik Innovo MRI Safe System with Innovo MRI Subcutaneous ICD, could improve patient care by allowing for more frequent MRI scans without compromising safety. Cardiac diseases are most common in low- and middle-income countries and these disorders. Increasing awareness of cardiac resynchronization therapy (CRT) devices and favorable government regulation towards reimbursement scenario.
Cardiac Resynchronization Therapy (CRT) Market Drivers
- Increasing sedentary lifestyle – leading a sedentary lifestyle is a major public health issue, it is increasingly spreading in many nations irrespective of being linked to various type of chronic health conditions.
- Rising geriatric population
- Rising investments in the healthcare sector – In 2016, the expenditure of US on medical and health research and development (R&D) was around USD 171.8 billion, and US healthcare expenditure was USD 3482.2 billion.
- Increasing technologically advances in medical devices
- The rising number of surgical procedures
- The growing number of intensive care units
Cardiac Resynchronization Therapy (CRT) Market Restraints
- The high cost of therapy – In 2017, the initial cost of cardiac resynchronization therapy pacemaker (CRT-P) is USD 16,218.44 and USD 36,263.73 of cardiac resynchronization therapy defibrillator (CRT-D).
Cardiac Resynchronization Therapy (CRT) Market Segment Insights
Cardiac Resynchronization Therapy Application Insights
- Intraventricular dyssynchrony: This segment holds the largest share because majority of the patients are estimated to be suffering from intraventricular dyssynchrony due to heart failure and left bundle branch block.
- Interventricular (V-V) dyssynchrony: This segment holds the second largest segment of the cardiac resynchronization therapy market. V-V dyssynchrony occurs when there is interruption or delay between the right ventricle and left ventricle activation.
- Atrioventricular (A-V) dyssynchrony: The A-V dyssynchrony occurs due to atrial and ventricle contraction, which can result in shortened ventricle filling time and mispositioning of atrial contraction.
Cardiac Resynchronization Therapy Type Insights
- Cardiac resynchronization therapy pacemaker (CRT-P): This segment holds the highest cardiac resynchronization therapy market share. In 2019, a study showed patients using CRT-P had 33% of death rate out of 135 patients.
- Cardiac resynchronization therapy defibrillator (CRT-D): This segment is not as popular as CRT-D, the study shows patients using this therapy has more risk of heart failure as in year 2019, out of 135 non-ischemic cardiomyopathy patients 43% of people died.
Cardiac Resynchronization Therapy End-User Insights
- Hospitals: The largest segment, hospitals and clinics are usually the primary points for diagnosis, treatment, and rehabilitation of individuals afflicted with cardiac resynchronization therapy. Growing awareness and increasing efficiency of musculoskeletal system disorder treatment are projected to drive the growth of this segment during the forecast period.
- Cardiac Specialty Centers: A small segment, these centers provide immediate pain relief and rudimentary surgical care.
- Academic and Research Organizations: This segment includes home care and senior citizen centers.
Cardiac Resynchronization Therapy Regional Insights
- Americas: The largest regional cardiac resynchronization therapy market, the prevalence of cardiac resynchronization therapy is high in the Americas; the region also has a well-established healthcare industry.
- Europe: An increasing geriatric population is leading to a rise in the number of musculoskeletal system disorder cases.
- Asia-Pacific: The fastest-growing regional cardiac resynchronization therapy market, Asia-Pacific is seeing a surge in the number of people afflicted with cardiac resynchronization therapy due to bad posture brought on by lifestyle changes, aging, and genetic predisposition. However, with the growing CRT market, particularly in Asia, it is likely that these companies are continuing to develop and refine their CRT offerings.
- Middle East & Africa: The smallest market due to limited healthcare infrastructure and a very young population.
Cardiac Resynchronization Therapy (CRT) Market Top Key Players
- Medtronic
- Abbott
- BIOTRONIK, Inc.
- Boston Scientific Corporation
- Lepu Medical Technology Co., Ltd.
- Medico S.p.A.
- MicroPort Scientific Corporation
- Shree Pacetronix Ltd
- Others
Report Attribute/Metric |
Details |
Market Size |
USD 7.43 Billion 2032 |
CAGR |
5.15% 2032 |
Base Year |
2023 |
Forecast Period |
2024-2032 |
Historical Data |
2022 |
Forecast Units |
Value (USD Billion) |
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
Application, Type, End-User and Region |
Geographies Covered |
Americas, Europe, Asia-Pacific, Middle East & Africa |
Key Vendors |
Medtronic, Abbott, BIOTRONIK, Inc., Boston Scientific Corporation, Lepu Medical Technology Co., Ltd., Medico S.p.A., MicroPort Scientific Corporation, Shree Pacetronix Ltd and Others |
Key Market Opportunities |
Increasing awareness of cardiac resynchronization therapy (CRT) devices and favorable government regulation towards reimbursement scenario |
Key Market Drivers |
· Increasing sedentary lifestyle Rising geriatric population Rising investments in the healthcare Increasing technologically advances in medical devices The rising number of surgical procedures The growing number of intensive care units |
Cardiac Resynchronization Therapy Market Highlights:
Frequently Asked Questions (FAQ) :
The global cardiac resynchronization therapy (CRT) market is projected to reach a valuation of USD 7.43 Billion by 2032.
The global cardiac resynchronization therapy (CRT) market is projected to grow at approximately 5.15% CAGR during forecast period (2024-2032).
Increasing technologically advances in medical devices.
North America holds the largest share in the global cardiac resynchronization therapy (CRT) market, followed by Europe and the Asia Pacific, respectively.
Abbott, Medtronic, BIOTRONIK, Inc., Lepu Medical Technology Co., Ltd., Boston Scientific Corporation, Medico S.p.A., Shree Pacetronix Ltd., and MicroPort Scientific Corporation, are some of the major players operating in the Cardiac resynchronization therapy (CRT) market.
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