Cardiac Resynchronization Therapy Market Overview

The Cardiac Resynchronization Therapy Market is growing pervasively. Market growth mainly attributes to the growing rate of cardiovascular disorders worldwide. There has been a spurting increase in cardiac disorders cases and issues related to heart diseases. Despite the several innovative therapies, the prevalence of these diseases is rising, continually becoming a significant concern. Moreover, the growing adoption of CRT to treat cardiovascular disorders escalates the market growth on the global platform.

According to Market Research Future (MRFR), the global cardiac resynchronization therapy (CRT) market is poised to create a valuation of approximately USD 4.7 MN by 2025, growing at 5.5% CAGR during the forecast period (2022-2030). The CRT market is increasing as arterial disease patients increase continuously. Additionally, increasing demand for invasive techniques, raising awareness of CRT devices, and favorable government regulation towards reimbursement scenarios boost the growth of the market.

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 market is segmented into four dynamics;

By Application: Intraventricular dyssynchrony, Interventricular (V-V) dyssynchrony, Atrioventricular (A-V) dyssynchrony, and others.

By Type: Cardiac resynchronization therapy pacemaker (CRT-P), Cardiac resynchronization therapy defibrillator (CRT-D), and others.

By End-User: Hospitals, Cardiac Specialty Centers, Academic & Research Organizations, and others.

By Regions: Americas, Europe, Asia Pacific, and Rest-of-the-world.

Global CRT Market   - Competitive Analysis

Fiercely competitive, the CRT market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players initiate strategies such as mergers & acquisitions, collaboration, expansion, and technology launch. Significant investments are transpired in the field to bring innovations in the therapy and clinical trials. Hospitals are investing heavily in developing a comprehensive, efficient, and state-of-the-art cardiac resynchronization therapy (CRT) facility. With advanced CRT and a complete rehabilitation schedule, these hospitals ensure that the patient has access to improved care at every stage of the treatment journey.

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.

Furthermore, increasing numbers of multinational companies are setting up their manufacturing plants in emerging economies such as Singapore, China, Japan, Korea, and Australia. This, as a result, propels the growth of the regional market. The APAC cardiac resynchronization therapy (CRT) market is projected to create a substantial revenue pocket over the estimated period.

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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