Cardiac Resynchronization Therapy Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4279
Cardiac Resynchronization Therapy Market size is projected to experience significant growth from 2019 to 2025.
Cardiac resynchronization therapy (CRT) market, is estimated to witness lucrative growth across the forecast timeframe. High growth is attributed to increasing prevalence of cardiovascular diseases across the globe. Rising sedentary lifestyle and increasing habit of smoking among the population will escalate cardiovascular diseases, thus augmenting CRT market growth.
Moreover, increasing technological advancements in the CRT devices will further augment market growth. For instance, companies such as, Medtronic and Abbott are focusing on technological advancements related to cardiac devices. Additionally, increasing government initiatives for the treatment of various cardiovascular diseases will further propel industry growth.
Cardiac resynchronization therapy defibrillators segment is expected to witness substantial growth across the forecast timeframe. High growth is attributed to increasing prevalence of cardiovascular diseases across the globe. Moreover, increasing rate of geriatric population prone to cardiac and other chronic diseases will further propel market growth.
Hospitals segment will show significant growth over the analysis timeframe, owing to rising adoption of CRT devices in the hospital settings. Moreover, presence of well-equipped and innovative devices in these amenities will further boost industry growth across the projected timeframe. Also, increasing preference among the population for hospitals over other medical settings due to presence of required facilities is another major growth propelling factor.
U.S. cardiac resynchronization therapy market is estimated to foresee a lucrative growth over the forecast period. High growth is attributed to increase in use of CRT devices primarily in hospitals and cardiac centers. Also, rise in prevalence of cardiovascular disorders will further boost regional growth. As per American College of Cardiology, cardiovascular diseases accounts for approximately 800,000 deaths in the U.S., in 2017. Which is expected to drive the growth of cardiac resynchronization therapy market. Additionally, increasing number of manufacturers operating in the CRT devices market will further foster business growth.
India is expected to foresee substantial growth in cardiac resynchronization therapy market, owing to rising healthcare infrastructure and presence of experienced professionals. Additionally, increasing adoption of sedentary lifestyle coupled with lack of physical activities will lead to high prevalence of cardiovascular diseases, thus fostering business growth.
Few of the prominent companies operating in cardiac resynchronization therapy market include Medtronic, PLC., Abbott Laboratories, Biotronik, Boston Scientific Corporation, Microport Scientific Corporation, Medico S.P.A., St. Jude Medical and LivaNova Plc. These industry players are resorting to strategies such as partnerships, merger & acquisition, and collaborations to acquire significant revenue shares and gain a competitive edge over other firms operating in the market. Moreover, these players are focusing on advancement in products to develop superior products and to expand a broader customer base.
Cardiac resynchronization therapy Market by Device Type, 2014-2025 (USD Million)
- Cardiac resynchronization therapy defibrillators
- Cardiac resynchronization therapy pacemakers
Cardiac resynchronization therapy Market by End-use, 2014-2025 (USD Million)
- Ambulatory surgical center
- Cardiac centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Medtronic, PLC.
- Abbott Laboratories
- Boston Scientific Corporation
- Microport Scientific Corporation
- Medico S.P.A.
- St. Jude Medical
- LivaNova Plc
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