Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The market for Cardiac Resynchronization Therapy (CRT) is significantly prompted by the growing incidence of coronary heart failure globally. As the prevalence of coronary heart failure continues to boom, the demand for powerful remedy options like CRT has witnessed a parallel surge. The growing older populace, coupled with an upward push in cardiovascular diseases, contributes extensively to the growth of the CRT market. With age being a big risk issue for coronary heart-associated conditions, the growing aged demographic is driving the need for superior cardiac cures. Ongoing technological improvements in CRT devices play a pivotal position in shaping the market. Innovations along with leadless pacing systems, advanced device miniaturization, and improved synchronization algorithms are attracting both sufferers and healthcare companies, fostering market growth. Collaborations and partnerships among key market players make contributions to market growth. These alliances often result in the development of superior and green CRT devices, offering an aggressive area and expanding the overall market.
The demand for non-invasive remedies is an extremely good component influencing the CRT market. As sufferers are seeking much less invasive options with decreased recovery times, the demand for CRT devices that offer powerful remedies without good-sized surgical techniques keeps rising. Ongoing research and development (R&D) investments in cardiac therapies, including CRT, fuel market growth. Clinical trials exploring the efficacy and safety of new CRT technologies contribute valuable data, instilling confidence in healthcare professionals and driving adoption. The cost-effectiveness of CRT devices and therapies is crucial for market penetration. Economic factors, including healthcare budget allocations and cost considerations for both providers and patients, play a significant role in determining the market's trajectory.
Market dynamics vary across regions due to differences in healthcare infrastructure, economic conditions, and awareness levels. Understanding these geographical variations is essential for stakeholders to tailor their strategies and tap into specific market opportunities. The competitive landscape, characterized by mergers, acquisitions, and market consolidations, shapes the overall CRT market. Key players' strategies influence market trends, pricing, and the availability of innovative products, impacting the demands available to healthcare providers and patients.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | Â Â 5.15% 2032 |
Cardiac Resynchronization Therapy Market Highlights:
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
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
