Cardiac Resynchronization Therapy (CRT) Market Research Report - Global Forecast till 2030

Cardiac Resynchronization Therapy (CRT) Market Research Report Information By Application (Intraventricular dyssynchrony, Interventricular (V-V) dyssynchrony), By Type (CRT-P, CRT-D) and By End-User (Hospitals, Cardiac Specialty Centers, Academic and Research Organizations) ‚Äď Forecast to 2030

ID: MRFR/HC/6885-HCR | 111 Pages | Author: Kinjoll Dey | October 2023         

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Cardiac Resynchronization Therapy Market Forecast


The Cardiac Resynchronization Therapy Market is anticipated to reach USD 4.09 Billion by 2030 at 4.10% CAGR during the forecast period 2022-2030.


Market Synopsis


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. In 2018, it was estimated that 2,300 people died in America per day due to cardiovascular diseases. Also, around 92.1 million American adult population are living with some form of cardiac disease or the aftereffects of the stroke.


Cardiac diseases are most common in low- and middle-income countries and these disorders.


Cardiac Resynchronization Therapy (CRT) Market Influencer


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 Segmentation


By Application



  • 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.


By Type



  • 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.


By End-User



  • 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.


By Region



  • 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.



  • Middle East & Africa: The smallest market due to limited healthcare infrastructure and a very young population.


Cardiac Resynchronization Therapy (CRT) Market 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 Scope:

Report Attribute/Metric Details
  Market Size   USD 4.09 Billion 2030
  CAGR   4.10% 2030
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  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
 

Frequently Asked Questions (FAQ) :

The global cardiac resynchronization therapy (CRT) market is projected to reach a valuation of USD 4.09 Billion by 2030.

The global cardiac resynchronization therapy (CRT) market is projected to grow at approximately 4.10% CAGR during forecast period (2022-2030).

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.

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‚Äô financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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