USD 4.1 billion
Cardiac Resynchronization Therapy Market Size, Share, Growth Analysis, By Product (Cardiac Resynchronization Therapy Defibrillators, Cardiac Resynchronization Therapy Pacemakers), By Application (Intraventricular Desynchrony, Interventricular (V-V) Desynchrony), By End User, By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35D2074 |
Region:
Global |
Published Date: July, 2024
Pages:
242
|Tables:
88
|Figures:
76
Cardiac Resynchronization Therapy Market Insights
Global Cardiac Resynchronization Therapy Market size was valued at USD 4.1 billion in 2022 and is poised to grow from USD 4.29 billion in 2023 to USD 6.15 billion by 2031, growing at a CAGR of 4.6% during the forecast period (2024-2031).
Increase in the incidence of target diseases, increase in the prevalence of heart attacks among the population, increase in investment in treatment, and rising healthcare spending are driving market growth. Additionally, the market will experience growth due to technical developments, modernization of healthcare equipment, growth in emerging markets, and an increase in the number of geriatric populations.
However, unfavourable healthcare reforms, increase in the risk of surgical site infections, and high device sensitivity are the main factors, among others, that will restrain market growth and pose additional challenges to the development of the cardiac resynchronization therapy market during the forecast period mentioned above.
US Cardiac Resynchronization Therapy Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
CRT-Defibrillator
Fastest Growth
CRT-Defibrillator
Growth Rate
4.6% CAGR
Global Cardiac Resynchronization Therapy Market ($ Bn)
Country Share for North America Region (%)
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Cardiac Resynchronization Therapy Market Segmental Analysis
Global Cardiac Resynchronization Therapy Market is segmented by product, application, end user and region. Based on product, the market is segmented into cardiac resynchronization therapy defibrillators and cardiac resynchronization therapy pacemakers. Based on application, the market is segmented into intraventricular desynchrony, interventricular (V-V) desynchrony and atrioventricular (A-V) desynchrony. Based on end user, the market is segmented into hospitals & cardiac centers, ambulatory surgery centers and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Cardiac Resynchronization Therapy Market Analysis by Type
The market can be segmented into Cardiac Resynchronization Therapy Defibrillators and Cardiac Resynchronization Therapy Pacemakers based on Type. The global market is divided into cardiac resynchronization therapy pacemakers and defibrillators (CRT-Ds) (CRT-Ps). In 2018, the CRT-Ds sector held the biggest market share. This is mostly attributable to the growing acceptability of CRT-Ds over pacemakers and the introduction of technologically improved devices. Additionally, the rising prevalence of the target disorders is a major factor in this market segment's growth.
Cardiac Resynchronization Therapy Market Analysis by Application
Intraventricular desynchrony has the most potential because it is estimated that a larger percentage of patients may experience intraventricular desynchrony due to cardiovascular disease and left bundle branch block. The second largest segment in the cardiac resynchronization therapy market is interventricular desynchrony. Interventricular desynchrony occurs when there is a delay or obstruction at the beginning of the right and left ventricles. Atrioventricular (A-V) desynchrony: The A-V desynchrony arises as a result of ventricle choke and trial, which can result in a condensed ventricle over time and incorrect atrial pressure location.
Global Cardiac Resynchronization Therapy Market By Type
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Cardiac Resynchronization Therapy Market Regional Insights
Due to its increasing geriatric population and growing regulatory approvals, the North American Cardiac Resynchronization Therapy market is expected to continue its leadership during the forecast period. The development can be ascribed to a number of variables, including rising consumer knowledge of the advantages of cardiovascular devices, high levels of disposable money, and the presence of a sophisticated healthcare infrastructure. Additionally, this region is home to a number of medical equipment suppliers who are engaged in the global provision of cardiovascular care. These businesses are concentrating on introducing cutting-edge products with attributes that are projected to further fuel market expansion, such as miniaturisation and longer battery life.
The market in Asia-Pacific is anticipated to grow at the fastest CAGR over the next few years. This is caused by an expanding medical infrastructure, an ageing population, favourable financial circumstances, strategic moves made by large companies, and an increase in heart problems. The adoption of new technology breakthroughs in these gadgets is accelerating in developed areas like Japan and Australia. For instance, it was discovered that despite its higher cost, remote monitoring of cardiac implanted devices, particularly in CRT/CRTDs, was quickly accepted throughout Asia-Pacific.
Global Cardiac Resynchronization Therapy Market By Region
- Largest
- Fastest
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Cardiac Resynchronization Therapy Market Dynamics
Cardiac Resynchronization Therapy Market Drivers:
Increasing Prevalence of Cardiovascular Diseases
- Approximately half of all mortality from cardiovascular diseases are caused by sudden cardiac death, despite advancements in prevention and therapy. Sudden cardiac death is still a major cause of death. The demand for cardiac resynchronization therapy devices is anticipated to rise as a result of the rising prevalence of heart illnesses and their risk factors. Heart failure is one of the leading causes of death in the world.
Rising Sedentary Lifestyle
- Physical inactivity is a major public health concern because it is connected to the second-highest number of deaths in the U.S., after smoking. Morbid obesity and numerous other chronic conditions, including heart issues and diabetes, can be brought on by physical inactivity. It has frequently been noted that prolonged periods of inactivity worsen the symptoms of CVD in diabetic and atherosclerotic patients who are otherwise physically active. Cardiovascular diseases like angina, myocardial infarction, and stroke are major effects of this lifestyle.
Cardiac Resynchronization Therapy Market Restraint:
Product Recall
- Boston Scientific Corporation started the INGENIO family of pacemakers and CRT-Ps recall in June 2022. ADVANTIO DR EL, INGENIO DR EL, and VITALIO DR EL are a few of them. Between November 2016 and August 2022, the recalled devices were distributed after being produced between September 2016 and December 2018. In the United States, some 48,000 gadgets were recalled. The possibility of the gadget entering safety mode led to the recall.
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Cardiac Resynchronization Therapy Market Competitive Landscape
The competitive landscape for the cardiac resynchronization therapy market provides information by competitor. Included information includes a business overview, financials, revenue generated, market potential, investments in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launches, product breadth and depth, and application dominance. Only the companies' market focus on cardiac resynchronization therapy is covered by the data points mentioned above.
Cardiac Resynchronization Therapy Market Top Player's Company Profiles
- Medtronic plc (Ireland)
- Boston Scientific Corporation (USA)
- Abbott Laboratories (USA)
- BIOTRONIK SE & Co. KG (Germany)
- Lepu Medical Technology Co., Ltd. (China)
- MicroPort Scientific Corporation (China)
- LivaNova PLC (UK)
- Medico S.p.A. (Italy)
- Nihon Kohden Corporation (Japan)
- Koninklijke Philips N.V. (Netherlands)
- Japan Lifeline Co., Ltd. (Japan)
- Shree Pacetronix Ltd. (India)
- Integer Holdings Corporation (OSCOR Inc.) (USA)
- Osypka Medical GmbH (Germany)
- St. Jude Medical, Inc. (acquired by Abbott) (USA)
- Accellent Inc. (USA)
- Cameron Health (acquired by Emerson Electric Co.) (USA)
- Sorin Group (acquired by LivaNova) (Italy)
- Guidant Corporation (acquired by Boston Scientific) (USA)
- Cyberonics, Inc. (acquired by Abbott) (USA)
Cardiac Resynchronization Therapy Market Recent Developments
- In March 2022, Abbott acquired Walk Vascular, LLC, a company that makes medical devices for minimally intrusive mechanical target thrombectomy systems. The organization's line of endovascular products was expanded by this acquisition.
- In June 2022, Baylis Medical Company, Inc. will be purchased by Boston Scientific Corporation. This acquisition, valued at USD 1.76 billion, expanded its core portfolios in electrophysiology and the heart.
Cardiac Resynchronization Therapy Key Market Trends
- Patients with heart failure who are also at high risk for sudden cardiac death should use CRT - Defibrillators (CRT-D). A CRT-D device treats sluggish heart rhythms similarly to a typical pacemaker, but it additionally sends tiny electrical impulses to the left and right ventricles to encourage coordinated contraction. Your heart will pump more effectively as a result. Arrhythmias, which are dangerously rapid heartbeats that might cause a sudden cardiac arrest, can also be treated with a CRT-D device. A shock is given to the heart if the equipment detects dangerously rapid heartbeats. Defibrillation, or this shock, puts an end to the irregular rhythm. The dangerously rapid pulse could result in death in only minutes without this life-saving treatment. Through new smartphone connectivity and connected applications, the devices provide new opportunities for patient engagement and remote monitoring. A patient-favourite design, longer battery life, and MRI compatibility are additional advantages. Due to the rising incidence and mortality of cardiovascular diseases, these devices have recently increased.
Cardiac Resynchronization Therapy Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global cardiac resynchronization therapy market analysis, the market is anticipated to expand favourably as a result of the growing elderly population, which represents the population group most susceptible to heart failure, the rising prevalence of cardiovascular diseases like coronary artery disease, which may also serve as a risk factor for heart failure, and the rising prevalence of lifestyle disorders like hypertension and diabetes, which may have long-term effects on heart health.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.1 billion |
| Market size value in 2031 | USD 6.15 billion |
| Growth Rate | 4.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cardiac Resynchronization Therapy Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cardiac Resynchronization Therapy Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cardiac Resynchronization Therapy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cardiac Resynchronization Therapy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cardiac Resynchronization Therapy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cardiac Resynchronization Therapy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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