Cardiac Resynchronization Therapy (CRT) Market

Market Overview:

The global cardiac resynchronization therapy (CRT) market size reached US$ 5.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.5% during 2023-2028.

Cardiac resynchronization therapy (CRT), or biventricular pacing, refers to a therapeutic procedure to correct or facilitate synchronized beating of the right and left ventricle of the heart. This therapy aids in improving the functioning of the heart, increasing the blood flow and facilitating faster recovery of the patient. It involves the use of a defibrillator to generate a pulse and thin insulated wires or leads to send electric impulses into the lower chambers of the heart. The device is surgically implanted and is connected to an external computer for periodic monitoring of the heart. It sends small electrical impulses to the left and right ventricles to support contraction at the same time.

The increasing prevalence of cardiovascular diseases (CVDs) across the globe represents one of the key factors driving the growth of the market. Furthermore, the rising geriatric population, which is more susceptible to ailments such as arrhythmias, congenital heart disease and atrial fibrillation, is providing a thrust to the market growth. In line with this, increasing health consciousness and awareness regarding the available treatment alternatives for heart-related ailments is also contributing to the market growth. Various technological advancements, such as the development of MRI-safe and wireless CRT devices, are acting as other growth-inducing factors. These novel systems aid in optimizing CRT programming and multipoint pacing to promote the healthy activity of the heart. Other factors, including increasing healthcare expenditures capacities of the individuals, along with improvements in the healthcare infrastructure, especially in the developing nations, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global cardiac resynchronization therapy (CRT) market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, application and end user.

Breakup by Type:

• CRT-Defibrillator
• CRT-Pacemaker
   

Breakup by Application:

• Intraventricular Dyssynchrony
• Interventricular (V-V) Dyssynchrony
• Atrioventricular (A-V) Dyssynchrony
   

Breakup by End User:

• Hospitals
• Cardiac Centers
• Ambulatory Surgery Centers
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Abbott Laboratories, Biotronik SE & Co. KG, Boston Scientific Corporation, LivaNova Plc, Medico S.p.A., Medtronic Plc, Merit Medical Systems Inc. and MicroPort Scientific Corporation.

Report Coverage:

Key Questions Answered in This Report:

• How has the global cardiac resynchronization therapy (CRT) market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global cardiac resynchronization therapy (CRT) market?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the application?
• What is the breakup of the market based on the end user?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global cardiac resynchronization therapy (CRT) market and who are the key players?
• What is the degree of competition in the industry?