According to the latest report by IMARC Group, titled “Cardiac Resynchronization Therapy (CRT) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global cardiac resynchronization therapy (CRT) market size reached US$ 4.9 Billion in 2021. Cardiac resynchronization therapy (CRT), also known as biventricular pacing, is a treatment used for treating arrhythmias and other disease-related abnormalities by automating right and left ventricle beating simultaneously. In order to send electric impulses into the lower chambers of the heart, the device is powered by a defibrillator, which generates a pulse. CRT devices are surgically implanted and are connected to an external computer, which sends small electrical impulses to the left and right ventricles to support simultaneous contractions. Heart failure patients who do not have their left and right heart segments pumping together will benefit from it as it improves blood flow to the heart.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Cardiac Resynchronization Therapy (CRT) Market Trends:
The global market is majorly driven by the growing incidences of cardiovascular disorders (CVDs), such as coronary heart disease, atrial fibrillation, strokes, and peripheral arterial disease, among the masses. This can be attributed to the increasing geriatric population that is more susceptible to developing these diseases. Apart from this, a considerable rise in healthcare expenditure levels across the globe is impacting the market positively. Moreover, continual technological advancements in medical product and services, along with significant improvements in the healthcare infrastructure, are creating a positive market outlook. The market is further propelled by the augmenting awareness among individuals regarding various therapeutic procedures for cardiovascular ailments. Some of the other factors contributing to the market include the introduction of MRI-safe wireless CRT devices and optimized CRT programs with multipoint pacing, the rising prevalence of sedentary lifestyles, rapid digitization in the healthcare industry, and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 7.2 Billion by 2027, exhibiting a CAGR of 6.7% during 2022-2027.
- Based on the type, the market has been segmented into CRT-defibrillator and CRT-pacemaker.
- On the basis of the application, the market has been divided into intraventricular dyssynchrony, interventricular (V-V) dyssynchrony, and atrioventricular (A-V) dyssynchrony.
- Based on the end user, the market has been categorized into hospitals, cardiac centers, ambulatory surgery centers, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include 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.
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