Market Overview:
The global implantable cardiac resynchronization therapy devices market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to factors such as the increasing prevalence of heart failure, technological advancements in cardiac resynchronization therapy devices, and rising geriatric population. Based on type, the global implantable cardiac resynchronization therapy devices market is segmented into defibrillators (CRT-D) and pacemakers (CRT-P). The CRT-D segment is expected to account for the majority share of the global implantable cardiac resynchronization therapy devices market in 2018. This segment is also projected to grow at a higher CAGR than the CRT-P segment during the forecast period. Based on application, hospitals are expected to account for the majority share of the global implantable cardiac resynchronization therapy devices market in 2018.
Product Definition:
Implantable Cardiac Resynchronization Therapy Devices (ICRTDs) are devices that help improve the function of the heart by resynchronizing its rhythm. ICRTDs are implanted in patients with heart failure who have a wide QRS complex on their electrocardiogram (ECG). By resynchronizing the hearts rhythm, ICRTDs can improve the patient's symptoms and quality of life.
Defibrillator (CRT-D):
A defibrillator is a medical device used to restore the electrical activity in the heart after it has stopped due to lack of oxygen or blood. It helps in increasing the blood flow and oxygen supply to the heart muscle, which eventually saves its functioning. Defibrillators are majorly classified into two types: external and implantable devices.
Pacemaker (CRT-P):
A pacemaker is a small electronic device that is implanted in the patient's heart to help it beat more efficiently. A pacemaker works by creating an electrical signal or pulse to replace the natural heartbeat.
Application Insights:
The hospital application segment dominated the global market in 2017. This can be attributed to the high adoption of these devices for treating life-threatening arrhythmia and heart block cases. Moreover, hospitals are preferred over clinics for Implantable Cardiac Resynchronization Therapy (ICRT) as it is a cost-effective treatment option as compared to open heart surgery. The other application segment includes surgical centers and home healthcare settings; this segment is expected to witness lucrative growth during the forecast period due to increasing awareness about ICRT among patients suffering from long QT syndrome or who have a family history of long QT syndrome or sudden cardiac death.
Moreover, manufacturers are focusing on developing products that can be used in both hospital and clinic settings which will help them capture a larger share of this lucrative market.
Regional Analysis:
North America dominated the global market in 2017. High adoption of advanced technologies, favorable government initiatives, and high healthcare expenditure are some of the major factors responsible for its large share. Moreover, increasing incidence of cardiac disorders is also expected to drive growth during the forecast period. According to a study published in JACC Cardiology, Incidence Rate of Heart Failure (CHF) by Centers for Medicare & Medicaid Services (CMS), CHF was found to be one of the leading causes of death among adults aged 25 years and above in 2015 accounting for 17% deaths that year.
Asia Pacific is expected to grow at a lucrative rate over the forecast period owing to rising geriatric population coupled with an increase in lifestyle-related diseases such as diabetes which results into increased demand for implantable cardiac devices such as CRT systems & devices thus driving growth across this region especially China and India thereby boosting revenue generation from this region during the estimated time frame.
Growth Factors:
- Increasing incidence of heart failure: The global incidence of heart failure is expected to increase from 26 million in 2011 to over 40 million by 2030. This will create a large pool of patients who will require implantable cardiac resynchronization therapy devices for treatment.
- Growing awareness about the benefits of implantable cardiac resynchronization therapy devices: There is growing awareness among physicians and patients about the benefits of implantable cardiac resynchronization therapy devices, which is likely to drive demand for these devices in the coming years.
- Technological advancements: The development of new and innovative technologies has led to the introduction of novel implantable cardiac resynchronization therapy devices that are more effective and safer than earlier versions. This is likely to boost demand for these devices in the coming years.
- Rising geriatric population: The global geriatric population is increasing at a rapid pace, which will lead to an increase in the number of patients with heart failure requiring treatment with implantable cardiac resynchronization therapy devices in the future.
Scope Of The Report
Report Attributes
Report Details
Report Title
Implantable Cardiac Resynchronization Therapy Devices Market Research Report
By Type
Defibrillator (CRT-D), Pacemaker (CRT-P), Other
By Application
Hospital, Clinic, Other
By Companies
Medtronic, Abbott, ZOLL Medical Corporation, Boston Scientific Corporation, Biotronik, Koninklijke Philips N.V., Sorin Group, Nihon Kohden, Medtronic
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
240
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Implantable Cardiac Resynchronization Therapy Devices Market Report Segments:
The global Implantable Cardiac Resynchronization Therapy Devices market is segmented on the basis of:
Types
Defibrillator (CRT-D), Pacemaker (CRT-P), Other
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
- Abbott
- ZOLL Medical Corporation
- Boston Scientific Corporation
- Biotronik
- Koninklijke Philips N.V.
- Sorin Group
- Nihon Kohden
- Medtronic
Highlights of The Implantable Cardiac Resynchronization Therapy Devices 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:
- Defibrillator (CRT-D)
- Pacemaker (CRT-P)
- Other
- 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 Implantable Cardiac Resynchronization Therapy Devices 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.
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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?
Implantable cardiac resynchronization therapy devices (ICRT) are medical devices that help to improve the heart's rhythm. ICRT can be used to treat people who have arrhythmias, or irregular heartbeats.
Some of the key players operating in the implantable cardiac resynchronization therapy devices market are Medtronic, Abbott, ZOLL Medical Corporation, Boston Scientific Corporation, Biotronik, Koninklijke Philips N.V., Sorin Group, Nihon Kohden, Medtronic.
The implantable cardiac resynchronization therapy devices market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Implantable Cardiac Resynchronization Therapy Devices 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 Implantable Cardiac Resynchronization Therapy Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Implantable Cardiac Resynchronization Therapy Devices 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 Implantable Cardiac Resynchronization Therapy Devices 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 Implantable Cardiac Resynchronization Therapy Devices Market Size & Forecast, 2018-2028
4.5.1 Implantable Cardiac Resynchronization Therapy Devices Market Size and Y-o-Y Growth
4.5.2 Implantable Cardiac Resynchronization Therapy Devices Market Absolute $ Opportunity
Chapter 5 Global Implantable Cardiac Resynchronization Therapy Devices 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 Implantable Cardiac Resynchronization Therapy Devices Market Size Forecast by Type
5.2.1 Defibrillator (CRT-D)
5.2.2 Pacemaker (CRT-P)
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Implantable Cardiac Resynchronization Therapy Devices 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 Implantable Cardiac Resynchronization Therapy Devices 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 Implantable Cardiac Resynchronization Therapy Devices 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 Implantable Cardiac Resynchronization Therapy Devices 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 Implantable Cardiac Resynchronization Therapy Devices Analysis and Forecast
9.1 Introduction
9.2 North America Implantable Cardiac Resynchronization Therapy Devices 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 Implantable Cardiac Resynchronization Therapy Devices Market Size Forecast by Type
9.6.1 Defibrillator (CRT-D)
9.6.2 Pacemaker (CRT-P)
9.6.3 Other
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 Implantable Cardiac Resynchronization Therapy Devices 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 Implantable Cardiac Resynchronization Therapy Devices Analysis and Forecast
10.1 Introduction
10.2 Europe Implantable Cardiac Resynchronization Therapy Devices 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 Implantable Cardiac Resynchronization Therapy Devices Market Size Forecast by Type
10.6.1 Defibrillator (CRT-D)
10.6.2 Pacemaker (CRT-P)
10.6.3 Other
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 Implantable Cardiac Resynchronization Therapy Devices 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 Implantable Cardiac Resynchronization Therapy Devices Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Implantable Cardiac Resynchronization Therapy Devices 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 Implantable Cardiac Resynchronization Therapy Devices Market Size Forecast by Type
11.6.1 Defibrillator (CRT-D)
11.6.2 Pacemaker (CRT-P)
11.6.3 Other
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 Implantable Cardiac Resynchronization Therapy Devices 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 Implantable Cardiac Resynchronization Therapy Devices Analysis and Forecast
12.1 Introduction
12.2 Latin America Implantable Cardiac Resynchronization Therapy Devices 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 Implantable Cardiac Resynchronization Therapy Devices Market Size Forecast by Type
12.6.1 Defibrillator (CRT-D)
12.6.2 Pacemaker (CRT-P)
12.6.3 Other
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 Implantable Cardiac Resynchronization Therapy Devices 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) Implantable Cardiac Resynchronization Therapy Devices Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Implantable Cardiac Resynchronization Therapy Devices 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) Implantable Cardiac Resynchronization Therapy Devices Market Size Forecast by Type
13.6.1 Defibrillator (CRT-D)
13.6.2 Pacemaker (CRT-P)
13.6.3 Other
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) Implantable Cardiac Resynchronization Therapy Devices 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 Implantable Cardiac Resynchronization Therapy Devices Market: Competitive Dashboard
14.2 Global Implantable Cardiac Resynchronization Therapy Devices Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Medtronic
14.3.2 Abbott
14.3.3 ZOLL Medical Corporation
14.3.4 Boston Scientific Corporation
14.3.5 Biotronik
14.3.6 Koninklijke Philips N.V.
14.3.7 Sorin Group
14.3.8 Nihon Kohden
14.3.9 Medtronic
