Cardiac Resynchronization Therapy (CRT) is a life-saving treatment for patients suffering from heart failure and arrhythmias. This innovative therapy, also known as biventricular pacing, aims to correct or facilitate synchronized beating of the right and left ventricles of the heart. CRT devices, including CRT pacemakers and CRT defibrillators, are surgically implanted and connected to an external computer for periodic monitoring of the heart's function. These devices send small electrical impulses to the left and right ventricles, ensuring simultaneous contraction and improving overall heart function. The global CRT market has experienced significant growth in recent years, driven by various factors such as technological advancements, an aging population, and increasing prevalence of cardiovascular diseases.
One of the primary drivers of the CRT market is the rising prevalence of cardiovascular diseases (CVDs) worldwide. According to the World Health Organization (WHO), CVDs account for 17.9 million annual deaths globally. The increasing geriatric population, which is more susceptible to ailments such as arrhythmias, congenital heart disease, and atrial fibrillation, is also contributing to the market's growth. Furthermore, growing health consciousness and awareness regarding available treatment alternatives for heart-related ailments are driving the demand for CRT devices.
Technological advancements in the CRT market, such as the development of MRI-safe and wireless CRT devices, are acting as significant growth factors. These novel systems aid in optimizing CRT programming and multipoint pacing to promote the healthy activity of the heart. Additionally, increasing healthcare expenditures and improvements in healthcare infrastructure, particularly in developing nations, are anticipated to drive the market further.
Despite the numerous growth factors, the CRT market faces some challenges that may hinder its expansion. One such restraint is the risk of infection associated with the surgical implantation of CRT devices. This risk may slow down the growth of the global CRT market. Moreover, the high cost of CRT devices and the need for skilled healthcare professionals to perform the implantation procedure may also limit the market's growth in some regions.
The global CRT market has witnessed substantial growth in recent years. The global Cardiac Resynchronization Therapy (CRT) market size was USD 4.20 Billion in 2022 and is expected to register a steady revenue CAGR of 4.8% during the forecast period, according to latest analysis by Emergen Research. In the United States, the American Heart Association reported that systolic heart failure is a significant issue, with 550,000 new cases diagnosed each year, contributing to 287,000 fatalities. The European Society of Cardiology reported that the rate of CRT-P implantation in France was higher than in the rest of Europe in a survey published in Archives of Cardiovascular Diseases (CVDs) in 2019.
Governments and NGOs worldwide are taking initiatives to support the CRT market by providing funding and raising awareness about the benefits of CRT devices. For instance, the Heart Rhythm Society (HRS) announced the results of three clinical trials demonstrating the efficacy of Conduction System Pacing (CSP) for patients in need of cardiac resynchronization therapy in May 2022.
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in RD activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
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Competitive Outlook: The leading companies operating in the Cardiac Resynchronization Therapy market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Top Companies Operating in the Cardiac Resynchronization Therapy Market and Profiled in the Report are:
Abbott, Boston Scientific Corporation, Medtronic, BIOTRONIK, MicroPort, LivaNova PLC, OSCOR Inc., OSYPKA MEDICAL., MEDICO S.R.L., and Lepu Medical Technology (Beijing)Co., Ltd
Objectives of the Report:
Study of the global Cardiac Resynchronization Therapy market size by key regions, types, and applications with reference to historical data (2017-2018) and forecast (2020-2027)
Industrial structure analysis of the Cardiac Resynchronization Therapy market by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape benchmarking
Analysis of Cardiac Resynchronization Therapy market based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global Cardiac Resynchronization Therapy market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
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Segments Covered in this report are:
Type Outlook (Revenue, USD Billion; 2019-2032)
- CRT-Defibrillators
- CRT-Pacemakers
End-use Outlook (Revenue, USD Billion; 2019-2032)
- Hospital Cardiac Centers
- Ambulatory Surgery Centers (ASCs)
Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East Africa
- North America
Regional Segmentation:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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