Global Cardiac Resynchronization Therapy Market
The Cardiac Resynchronization Therapy is carried out with defibrillators. These devices are used in the condition of heart failure where the expectancy of cardiac arrest or sudden death is very high. These defibrillators also work like normal pace makers to treat slow heart rhythms releasing small electrical impulses to both right and left ventricles in order to help them contract at the same time. This helps heart to pump more efficiently. The CRT-D devices can also be used to treat dangerously fast heart rhythms (arrhythmias). In case the device starts sensing fast heartbeats, a shock is delivered to the heart.
The cardiac resynchronization therapy market was valued at USD 5.68 billion in 2019 and is expected to grow at a CAGR of 6.3% over the forecast period from 2020 to 2028. In addition, speeding up technical developments in CRT products would further accelerate business demand. For example, companies like Medtronic and Abbott are focused on cardiac-related technical advances. Growing government policies to address multiple cardiovascular diseases would also help fuel growth in the sector.
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The global Cardiac Resynchronization Therapy market is experiencing a major surge in growth since past few years and is expected to keep growing in coming years at even higher pace. The demand for this cardiac resynchronization therapy is rising due to the increase in the cases of heart failure(s) & several other cardiac disorders. The rise in the mortality rate due to cardiovascular diseases (CVD) across the globe is boosting the growth of the market for cardiac resynchronization therapy market. The rapid change in the lifestyle with huge workload is leading more and more people to fall victim for cardiac diseases which in turn is resulting into propelling the growth of the market.
With rise in the globalization the per capita income is rising among developing economies which is resulting into the change of lifestyle of people. This is also increasing occurrences of cardiac ailments. The increasing habit of alcohol consumption and smoking will escalate cardiovascular diseases and is anticipated to boost the demand for cardiac resynchronization therapy. In addition to that, rising research and development activities in the healthcare sector, huge investments and technological advancements are also contributing to the expansion of cardiac resynchronization therapy market across the globe. Apart from heart failure several other conditions such as atrial fibrillation, congenital heart disease and arrhythmias also demand these services.
The global cardiac resynchronization therapy market has been bifurcated based on product and region. In terms of product the market is divided into CRT-D and CRT-P. Key players serving the global market include LivaNova, BIOTRONIK Boston Scientific, St. Jude Medical, among other prominent players.
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Key segments of the global cardiac resynchronization therapy market
Product Overview, 2018-2028 (USD Million)
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
Some Major Points from Table of Contents:
Chapter 6. Company Profiles
6.1. Medtronic Plc.
6.1.2. Industrys and Services Portfolio
6.1.3. Recent Initiatives
6.1.4. Company Financials
6.2. LivaNova Plc
6.2.2. Industrys and Services Portfolio
6.2.3. Recent Initiatives
6.2.4. Company Financials
6.3.2. Industrys and Services Portfolio
6.3.3. Recent Initiatives
6.3.4. Company Financials
6.4. Boston Scientific
6.4.2. Industrys and Services Portfolio
6.4.3. Recent Initiatives
6.4.4. Company Financials
6.5. St. Jude Medical
6.5.2. Industrys and Services Portfolio
6.5.3. Recent Initiatives
6.5.4. Company Financials
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