Market Overview:
The global cardiac resynchronization therapy (CRT) device market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth in the CRT device market can be attributed to factors such as the increasing prevalence of heart failure, technological advancements in CRT devices, and rising geriatric population. The cardiac resynchronization therapy pacemakers segment is expected to account for the largest share of the global CRT device market in 2018. This segment is also projected to grow at a higher CAGR than other segments during the forecast period. The growth in this segment can be attributed to factors such as increasing incidence of heart failure and technological advancements in cardiac resynchronization therapy pacemakers. In terms of application, hospitals are expected to account for the largest share of the global CRT device market in 2018.
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Product Definition:
Cardiac resynchronization therapy (CRT) is a type of implantable cardioverter-defibrillator (ICD) that helps improve the heart's pumping ability in people with congestive heart failure. The device sends electrical shocks to the left and right ventricles of your heart, which can help them beat together in a more coordinated way. This can help improve blood flow and reduce symptoms of congestive heart failure.
Cardiac Resynchronization Therapy Pacemakers:
Cardiac resynchronization therapy pacemakers (CRT-P) is a procedure performed to help the heart's natural rhythm to resume after an interruption such as a heart attack or fibrillation. The device comprises of various parts including lead, generator, and electrodes. Lead consists of two wires; one is used by the doctor and other one by patient.
Cardiac Resynchronization Therapy Defibrillators:
The global cardiac resynchronization therapy defibrillators and it's usage in CRT device market size was valued at USD 4.6 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period. The increasing prevalence of cardiovascular diseases, rising geriatric population base, technological advancements pertaining to CRT devices are some high impact rendering drivers for this market during the forecast period 2016-2021.
Application Insights:
The hospital segment dominated the global market in 2017 and is expected to maintain its dominance over the forecast period. This can be attributed to a large patient base and high adoption of CRT devices for treatment of life-threatening arrhythmia. Moreover, hospitals are at the forefront in adopting technological advancements such as telemetry that improves monitoring and reduces human efforts, thereby increasing efficiency.
The other application segment includes care centers, where patients with less serious heart rhythm disorders are treated without hospitalization or invasive procedures. Such centers provide comfort to patients by providing them access to advanced healthcare facilities equipped with state-of-the-art technology while reducing costs associated with medical tourism or travel clinics at international airports.
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of a large patient pool, favorable government initiatives, and high healthcare expenditure in this region. Moreover, increasing awareness about CRT devices and their benefits is also expected to drive growth during the forecast period.
Asia Pacific is anticipated to witness lucrative growth over the forecast period owing to factors such as improving economic conditions and rising disposable income levels among individuals in emerging countries such as India & China & South Korea. Furthermore, an increase in cardiovascular diseases due to unhealthy lifestyles will further boost demand for CRT devices during the forecast period. Growing investments by international players for manufacturing new generation pacemakers & defibrillators are also expected fuel regional market growth over next eight years (2018-2030). For instance, In April 2016; Medtronic plc.
Growth Factors:
- Increasing prevalence of heart failure: The number of people affected by heart failure is increasing globally. This will drive the demand for CRT devices as they are the only effective treatment for heart failure patients with wide QRS complex.
- Growing awareness about CRT therapy: There is growing awareness among physicians and patients about the benefits of CRT therapy. This will help in driving the growth of this market in coming years.
- Technological advancements in CRT devices: The technology used in CRT devices is constantly evolving which is helping to improve their efficacy and safety profile. This will help to boost the growth of this market in future years.
- Rising geriatric population: The geriatric population is growing at a rapid pace across the world and they are more prone to develop heart failures than younger individuals .This will create a high demand for CRT devices in near future .
- Increasing healthcare expenditure: Governments around these world are investing heavily on healthcare sector which is aidingthe growthofCRThydevicesmarket
Scope Of The Report
Report Attributes
Report Details
Report Title
Cardiac Resynchronisation Therapy (CRT) Device Market Research Report
By Type
Cardiac Resynchronization Therapy Pacemakers, Cardiac Resynchronization Therapy Defibrillators
By Application
Hospital, Clinic, Other
By Companies
Medtronic, Boston Scientific, Biotronik, Livanova, Abbott, Cook Medical, Sorin Group
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
237
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Cardiac Resynchronisation Therapy (CRT) Device Market Report Segments:
The global Cardiac Resynchronisation Therapy (CRT) Device market is segmented on the basis of:
Types
Cardiac Resynchronization Therapy Pacemakers, Cardiac Resynchronization Therapy Defibrillators
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Clinic, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Medtronic
- Boston Scientific
- Biotronik
- Livanova
- Abbott
- Cook Medical
- Sorin Group
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Highlights of The Cardiac Resynchronisation Therapy (CRT) Device Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cardiac Resynchronization Therapy Pacemakers
- Cardiac Resynchronization Therapy Defibrillators
- By Application:
- Hospital
- Clinic
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Cardiac Resynchronisation Therapy (CRT) Device Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A cardiac resynchronisation therapy (CRT) device is a medical device that helps to improve the rhythm of the heart. It can help to correct abnormalities in the heart's rhythm, which may cause symptoms such as chest pain or shortness of breath. CRT devices are usually used in people who have arrhythmias (abnormalities in the heartbeat).
Some of the key players operating in the cardiac resynchronisation therapy (crt) device market are Medtronic, Boston Scientific, Biotronik, Livanova, Abbott, Cook Medical, Sorin Group.
The cardiac resynchronisation therapy (crt) device market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cardiac Resynchronisation Therapy (CRT) Device Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Cardiac Resynchronisation Therapy (CRT) Device Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Cardiac Resynchronisation Therapy (CRT) Device Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Cardiac Resynchronisation Therapy (CRT) Device Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Cardiac Resynchronisation Therapy (CRT) Device Market Size & Forecast, 2020-2028
4.5.1 Cardiac Resynchronisation Therapy (CRT) Device Market Size and Y-o-Y Growth
4.5.2 Cardiac Resynchronisation Therapy (CRT) Device Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Cardiac Resynchronization Therapy Pacemakers
5.2.2 Cardiac Resynchronization Therapy Defibrillators
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospital
6.2.2 Clinic
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Cardiac Resynchronisation Therapy (CRT) Device Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Cardiac Resynchronisation Therapy (CRT) Device Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Cardiac Resynchronization Therapy Pacemakers
9.6.2 Cardiac Resynchronization Therapy Defibrillators
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospital
9.10.2 Clinic
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Cardiac Resynchronization Therapy Pacemakers
10.6.2 Cardiac Resynchronization Therapy Defibrillators
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospital
10.10.2 Clinic
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Cardiac Resynchronization Therapy Pacemakers
11.6.2 Cardiac Resynchronization Therapy Defibrillators
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospital
11.10.2 Clinic
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Cardiac Resynchronization Therapy Pacemakers
12.6.2 Cardiac Resynchronization Therapy Defibrillators
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospital
12.10.2 Clinic
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Cardiac Resynchronization Therapy Pacemakers
13.6.2 Cardiac Resynchronization Therapy Defibrillators
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospital
13.10.2 Clinic
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Cardiac Resynchronisation Therapy (CRT) Device Market: Competitive Dashboard
14.2 Global Cardiac Resynchronisation Therapy (CRT) Device Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Medtronic
14.3.2 Boston Scientific
14.3.3 Biotronik
14.3.4 Livanova
14.3.5 Abbott
14.3.6 Cook Medical
14.3.7 Sorin Group
