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I AgreeAnalysis of Cardiac Resynchronization Therapy market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Newly-released Cardiac Resynchronization Therapy industry analysis report by Fact.MR shows that global sales of Cardiac Resynchronization Therapy in 2021 were held at US$ 5.7 Bn. With 7.9%, the projected market growth during 2022-2032 is expected to be slightly lower than the historical growth. CRT-Defibrillator is expected to be the higher revenue-generating product, accounting for an absolute dollar opportunity of nearly US$ 4 Bn during 2022 – 2032.
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As per the Cardiac Resynchronization Therapy industry research by Fact.MR - market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Cardiac Resynchronization Therapy industry increased at around 8.0% CAGR, wherein, countries such as the U.S., China, Canada, India, and the UK held a significant share in the global market.
The increasing prevalence of diseases is driving the market's growth (primarily due to the rising geriatric population). Rising investments and support, as well as technology improvements, are all helping to drive this market forward.
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Device for cardiac resynchronization therapy that is CRT-D defibrillators combine the functions of an implanted cardioverter-defibrillator and a defibrillator to quickly resynchronize a dangerously fast cardiac rhythm. Cardiac resynchronization treatment is for patients with severe and moderate cardiac failure, pacemakers and defibrillators are becoming more significant therapeutic tools.
The devices for cardiac resynchronization therapy are implanted in the body. The pacemaker is small enough to fit in the palm of your hand and is inserted just below the collarbone. The device's leads monitor the heart rate to detect heart rate anomalies and send out tiny pulses to resynchronize the ventricles of the heart. The therapeutic gadget helps to improve heart rhythm and the symptoms of arrhythmia. Owing to these factors cardiac resynchronization therapy market is projected to grow in leaps and bounds.
The growing cases of cardiovascular disease (CVD), the increasing number of surgical procedures performed, and the expanding number of critical care and intensive care units are some of the key factors driving the growth of the Cardiac Resynchronization Therapy market.
The global cardiac resynchronization therapy device market is being driven by awareness campaigns done by various healthcare sectors as well as government organizations for spreading knowledge related to the heart and ailments associated with it.
Cardiac resynchronization therapy is improving the clinical symptoms of patients with heart failure who have a ventricular conduction delay over time, making it a go-to option in today’s date with a positive trend.
The high cost of the cardiac resynchronization therapy device, as well as a lack of educated and skilled experts are limiting the growth of the cardiac resynchronization therapy market. Furthermore, the lack of data format interoperability is limiting the growth of cardiac resynchronization therapy.
The market for cardiac resynchronization therapy in North America is growing at a steady pace. In 2021, North America had the highest revenue share of more than 40%. The growing geriatric population and regulatory clearances are responsible for the region's substantial proportion. Research and innovation are being aided by increased access to large historical data in the sector. The American College of Cardiology (ACC) announced a suite of cardiovascular data registries in April 2021, allowing healthcare companies to assess and improve service quality using existing data.
The rising frequency of cardiovascular illnesses, the increased risk of obesity, rising disposable incomes, and the presence of multiple market competitors are some of the primary drivers of the regional market.
Although CRT is frequently considered only after the implementation of optimal medical heart failure therapy, it should be noted that only a small percentage of patients can tolerate maximal doses of neurohormonal blockers before CRT implantation. On the other hand, the acute and chronic haemodynamic effects of CRT may significantly alter the tolerability and acceptance of medical therapy.
CRT protects patients from AV conduction slowdown, bradycardia, and sinoatrial nodal pauses, allowing for safe beta-blocker titration. Furthermore, observational and randomized evidence implies that cardiac rehabilitation after CRT implant is linked to greater functional improvement and lower heart failure hospitalization and mortality.
The Heart Rhythm Society produced guidelines for managing patients with cardiac implantable electronic devices in April 2020 COVID-19 task force update. This was done to put an emphasis on limiting exposure to patients and physicians. The elderly population is expected to be a key driver for market expansion. Statistics Korea estimates that 8.5 Mn people aged 65 and up will be alive in 2021.
By 2030, this figure is predicted to rise to 12.9 Mn. Chronic disorders such as congestive heart failure, hypertension, and arrhythmia are becoming more common as the population ages. This is expected to add to the market growth of the country. In a study published in the Archives of Cardiovascular Diseases in 2019, the European Society of Cardiology discovered that French patients are more likely than the rest of Europe to obtain a CRT-P implant.
Improved ways to identify prospective eligible CRT candidates by cardiologists and non-cardiologists are urgently needed, as a referral is one of the barriers to installation. In addition, ECG surveillance in heart failure patients is recommended since anomalies not only provide information on the underlying cause but also aid in the selection of appropriate therapy.
Involvement with patient organizations or support groups on a more personal level could help to increase the spread of information about therapy choices. More actionable referrals could be triggered by screening through automated alerts in electronic health records based on information from QRS duration, left ventricular (LV) function, and heart failure state. Screening for individuals eligible for optimization of heart failure therapy, including CRT, may be as effective as it has been for other heart failure treatments, with the proliferation of electronic health data.
According to the American Heart Association's Heart & Stroke Statistics report from 2020, about 356,000 cases of out-of-hospital cardiac arrest (OHCA) occur in the United States each year, with around 90% of these being fatal. In such cases, Cardiac resynchronization therapy (CRT) becomes a mode of solution.
In 2021, the CRT-defibrillators product segment was more profitable, accounting for more than 58% of global revenue. This is mostly due to the growing recognition of CRT-Ds as a viable alternative to pacemakers, as well as the introduction of technologically improved devices.
According to a study by National Cardiovascular Data Registry for implantable cardioverter-defibrillators, conducted on over 85,000 new CRT-D implants patients, there has been an increase in guideline-concordant implantation during the time in a study of through the.
The COVID-19 pandemic affected the market, resulting in lower demand and sales. This was due to cancelled elective treatments as a result of the pandemic, as well as delays in clinical trials, supply chain issues, and reduced sales and marketing activity.
MicroPort, one of the leading market players saw a 16.2% drop in its cardiac rhythm management business. The business blamed the drop on the COVID-19 epidemic, which caused outpatient appointments and surgical procedures to be postponed, resulting in fewer implants.
During the projection period, market competition is expected to be moderate. Medtronic, Abbott, Boston Scientific Corporation, MicroPort BIOTRONIK, and Medico are all major competitors in the cardiac resynchronization therapy industry.
These businesses have a wealth of resources, market knowledge, a strong distribution network, and are engaged in strategic initiatives to expand market share and profitability. Mergers and acquisitions, regional expansion, collaborations, the launch of new goods, and R&D operations are all instances of these tactics.
Some of the recent developments of Cardiac Resynchronization Therapy providers are as follows :
Similarly, recent developments related to companies offering Cardiac Resynchronization Therapy have been tracked by the team at Fact.MR, which are available in the full report.
Report Attribute |
Details |
Forecast Period |
2022-2032 |
Historical Data Available for |
2017-2021 |
Market Analysis |
US$ Bn for Value |
Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
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The global Cardiac Resynchronization Therapy market is worth US$ 6.1 Bn at present.
Value of Cardiac Resynchronization Therapy is projected to increase at a CAGR of around 7.9% during 2022 – 2032.
Value of Cardiac Resynchronization Therapy increased at a CAGR of around 8% during 2017 – 2021.
CRT-Defibrillator has better stats, accounting for more than 58% of global revenue when compared with CRT-Pacemaker in 2021
The growing importance of CRT-D devices and a variety of additional devices which have become more common in recent years (as the frequency and mortality of cardiovascular diseases have increased-CVD) are some of the major key trends shaping the growth of
The top 5 countries driving the demand for Cardiac Resynchronization Therapy are the U.S., China, Canada, India, and the UK
North America accounted for over 40% of global Cardiac Resynchronization Therapy demand in 2021.
The European market for Cardiac Resynchronization Therapy is projected to expand at a CAGR of around 8.2% during 2022 – 2032.
While the market in South Korea is expected to grow at nearly 6.9%, the market in Japan is projected to register a CAGR of nearly 9.6% during 2022 - 2032.