What is the global market size of Cardiac Resynchronization Therapy Market?

Global Cardiac Resynchronization Therapy Market size was valued at USD 4.06 billion in 2021 and is poised to grow from USD 4.26 billion in 2022 to USD 6.23 billion by 2030, growing at a CAGR of 4.8% in the forecast period (2023-2030).

Cardiac Resynchronization Therapy Market Size, Share, Growth Analysis, By Type(CRT-Defibrillator and CRT-Pacemaker), By Application(Intraventricular desynchrony, Interventricular (V-V) desynchrony, Atrioventricular (A-V) desynchrony), By End User(Hospitals, Cardiac Care Centres, and Ambulatory Surgical Centres), 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

Cardiac Resynchronization Therapy Market size was valued at USD 4.06 billion in 2019 and is poised to grow from USD 4.26 billion in 2023 to USD 6.23 billion by 2031, growing at a CAGR of 4.8% in 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.

Cardiac Resynchronization Therapy Market Report Snapshots

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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, 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. 'Medtronic', ' Abbott Laboratories ', ' Boston Scientific Corporation ', ' Biotronik SE & Co. KG ', ' LivaNova PLC ', ' St. Jude Medical, Inc. ', ' EBR Systems, Inc. ', ' Cardiac Dimensions, Inc. ', ' Sorin Group ', ' Cook Medical, Inc. ', ' Osprey Medical, Inc. ', ' BioVentrix, Inc. ', ' MicroPort Scientific Corporation ', ' Endologix, Inc. ', ' InspireMD, Inc. ', ' Integer Holdings Corporation ', ' Inari Medical, Inc. ', ' Syncardia Systems, Inc. ', ' AngioDynamics, Inc. ', ' Cardiva Medical, Inc. '

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.

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.

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 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.

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Cardiac Resynchronization Therapy Market Insights

Cardiac Resynchronization Therapy Market Report Snapshots

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