Cardiac Resynchronization Therapy Market Overview
The global cardiac resynchronization therapy market is predicted to touch USD 4.7 million at a 7.2% CAGR between 2022-2030, reveals the latest Market Research Future (MRFR) report. Cardiac resynchronization therapy or CRT is a method of implanting a device in the chest for making the chambers of the heart contract in an efficient and organized way. It uses a device known as a biventricular pacemaker, which delivers signals to the lower chambers of the heart. The signals let the ventricles contract and also maximize the blood, which is pumped out of the heart. At times the device also has an implantable cardioverter-defibrillator (ICD) that can provide stronger electrical shocks when the heart rhythm turns dangerously erratic.
Various factors are propelling the Cardiac Resynchronization Therapy Market .These include the increasing number of intensive care units, increasing number of surgical procedures, poor fitness levels, rising sedentary lifestyle, growing incidence of target diseases, technological advancements, growing incidence of heart disease, rising demand for invasive techniques in heart disease treatment, and changes in lifestyle. Additional factors pushing market growth include innovations in the healthcare industry, increasing use of CRT devices, growing geriatric population, private and government funding, new product launches, and the different benefits associated with it, such as improves quality of life, increases blood flow, and improves heart efficiency.
Rising technological advances in heart care, in terms of diverse engineering and design backgrounds, liability, privacy, and financial perspectives essential to succeed in a complex health care system foster the CRT market growth. Also, growing numbers of intensive care units and surgical procedures push market growth. Changing lifestyle and subsequent rise in lifestyle diseases and disorders such as obesity and diabetes expand the cardiac resynchronization therapy (CRT) market.
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Cardiac Resynchronization Therapy Market Segmentation
The MRFR report provides an all-inclusive analysis of the cardiac resynchronization therapy market on the basis of type, end user, and application.
Based on the application, the cardiac resynchronization therapy market is segmented into atrioventricular dyssnchrony, interventricular dyssynchrony, and intraventricular dyssynchrony. Of these, the intraventricular dyssynchrony segment will have the largest share in the market owing to the increasing incidence of heart diseases and the growing demand for invasive procedures worldwide. This will be followed by the atrioventricular dyssynchrony segment.
Based on type, the cardiac resynchronization therapy market is segmented into cardiac resynchronization defibrillator and cardiac resynchronization therapy pacemaker. Of these, the cardiac resynchronization therapy pacemaker segment will dominate the market over the forecast period.
Based on end user, the cardiac resynchronization therapy market is segmented into academic and research organizations, cardiac specialty centers, and hospitals. Of these, the hospitals’ segment will lead the market over the forecast period owing to the fact that these centers are the key locations for patients that receive the CRT therapy.
Cardiac Resynchronization Therapy Market Regional Analysis
North America dominates the global cardiac resynchronization therapy (CRT) market. The largest market share attributes to the prevalence of cardiovascular diseases among the rising geriatric population and vulnerability to hypertension and obesity issues leading to heart diseases and disorders. Adoption of cardiac resynchronization therapy in the Americas is high due to the growing number of people suffering from heart issues. Besides, factors such as increasing government initiatives and R&D funding and rising demand for technologically advanced CRTs substantiate the growth of the market.
Europe stands second in the global cardiac resynchronization therapy (CRT) market. The market is drive by the increasing healthcare expenditure and availability of advanced treatment facilities. A growing geriatric population is leading to a rise in the number of musculoskeletal system disorder cases. Moreover, government initiatives of healthcare and increasing cardiovascular diseases in Europe foster the growth of the market. The European cardiac resynchronization therapy (CRT) market is estimated to register a phenomenal CAGR during the forecast period.
The cardiac resynchronization therapy (CRT) market is brisk in the Asia Pacific region. The region is seeing a surge in the number of people afflicted with cardiac resynchronization therapy due to bad posture caused by lifestyle changes, aging, and genetic predisposition. Moreover, factors such as the faster adoption of advanced healthcare technologies, government initiatives to increase the quality of care, favorable insurance, and reimbursement policies boost regional market growth.
Cardiac Resynchronization Therapy Market Players
- Medtronic
- Abbott
- BIOTRONIK Inc.
- Boston Scientific Corporation
- Lepu Medical Technology Co. Ltd.
- Medico S.p.A.
- MicroPort Scientific Corporation
- Shree Pacetronix Ltd
- Others
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