New York, USA, Nov. 10, 2022 (GLOBE NEWSWIRE) -- The Global Cardiac Resynchronization Therapy Market is expected to Register an Immense Growth at a CAGR of 6.49% During the Forecast Period (2019–2027) | DelveInsight
The cardiac resynchronization therapy market is predicted to grow positively owing to the increasing geriatric population, which forms the susceptible at-risk population group for heart failure, the rising prevalence of cardiovascular diseases such as coronary artery disease, which may further act as a risk factor leading to heart failure, and the growing prevalence of lifestyle disorders such as hypertension and diabetes, which may impact the health of the heart over a long period of time.
DelveInsight’s Cardiac Resynchronization Therapy Market Insights report provides the current and forecast market analysis, forthcoming device innovation, individual leading cardiac resynchronization companies’ market shares, challenges, cardiac resynchronization therapy market drivers, barriers, and trends, and key cardiac resynchronization therapy companies in the market.
Key Takeaways from the Cardiac Resynchronization Therapy Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global cardiac resynchronization therapy market during the forecast period.
- Notable cardiac resynchronization therapy companies such as Abbott, Medtronic, Boston Scientific Corporation, BIOTRONIK, EBR Systems, Inc., Microport Scientific Corporation, MEDICO S.p.A., and several others are currently operating in the cardiac resynchronization therapy market.
- In January 2022, Medtronic announced a USD 4 million initiative to increase diversity in STEM professions.
- In September 2021, Abbott acquired Walk Vascular, LLC, a clinical gadget organization working in minimally invasive mechanical goal thrombectomy frameworks.
- In October 2021, Boston Scientific Corporation agreed to buy Baylis Medical Company, Inc. This acquisition, valued at USD 1.76 billion, expanded the company's primary heart and electrophysiology portfolios.
To read more about the latest highlights related to the cardiac resynchronization therapy market, get a snapshot of the key highlights entailed in the Global Cardiac Resynchronization Therapy Market Report
Cardiac Resynchronization Therapy Overview
Cardiac resynchronization therapy, also known as a biventricular pacemaker, is a procedure that helps patients with arrhythmias improve their heart rhythm and other disease-related conditions. A pacemaker is usually implanted below the collarbone during this procedure. Cardiac resynchronization therapy defibrillators and cardiac resynchronization therapy pacemakers are two types of cardiac resynchronization therapy that are commonly used. It is especially beneficial for patients with heart failure whose left and right heart chambers do not contract simultaneously.
Cardiac resynchronization therapy is useful in the treatment of intraventricular dyssynchrony, interventricular dyssynchrony, and atrioventricular dyssynchrony.
Learn more about cardiac resynchronization therapy (CRT) devices @Cardiac Resynchronization Therapy Guidelines
Cardiac Resynchronization Therapy Market Insights
North America is expected to account for the largest share of the cardiac resynchronization therapy market among all regions in the coming years. The North American cardiac resynchronization therapy market is anticipated to grow significantly due to the importance of key growth factors such as the rising prevalence of hypertension, obesity, and diabetes, the aging population, and extensive coverage of CRT devices by insurance in North American countries, specifically Canada and the United States.
The rising prevalence of cardiovascular diseases in the US population is one of the key factors driving the growth of the US cardiac resynchronization therapy market. Moreover, the presence of a large patient population suffering from hypertension and diabetes correlates to the presence of a large patient population suffering from heart diseases such as heart failure, indicating a growing need for cardiac resynchronization therapy and thus supporting the growth of the United States cardiac resynchronization therapy market and the overall North America cardiac resynchronization therapy market.
To know more about why North America is leading the market growth in the cardiac resynchronization therapy market, get a snapshot of the Cardiac Resynchronization Therapy Market Outlook
Cardiac Resynchronization Therapy Market Dynamics
The cardiac resynchronization therapy market is experiencing increased product demand due to a variety of factors, one of which is the rising prevalence of cardiovascular diseases. Another important factor driving the demand for cardiac resynchronization therapy is the rising prevalence of lifestyle disorders that can lead to heart failure in the long run.
On the other hand, product recalls, and device-related complications may act as restraints on the growth of the cardiac resynchronization therapy market.
Additionally, the cardiac resynchronization therapy market suffered a temporary setback as lockdown restrictions were imposed as a necessary step to halt the spread of COVID-19. The COVID-19 pandemic had a significant impact on cardiovascular procedures because the majority of cardiac patients have comorbidities such as hypertension and diabetes. These comorbidities were also linked to an increased risk of COVID-19 infection and death. As a result, the suspension of elective cardiovascular procedures resulted in a significant decrease in product demand in the cardiac resynchronization therapy market.
However, the cardiac resynchronization therapy market resumed an appreciable pace in product demand as healthcare activities resumed at a normal pace towards the end of 2020 with the approval and administration of COVID-19 vaccines globally, providing better growth prospects for the cardiac resynchronization therapy market during the forecast period.
Get a sneak peek at the cardiac resynchronization therapy market dynamics @Cardiac Resynchronization Therapy Market Dynamics Analysis
| Report Metrics | Details |
| Coverage | Global |
| Study Period | 2019–2027 |
| Base Year | 2021 |
| Market CAGR | 6.49% |
| Projected Global Cardiac Resynchronization Therapy Market Size by 2027 | USD 10.18 Billion |
| Key Cardiac Resynchronization Therapy Companies | Abbott, Medtronic, Boston Scientific Corporation, BIOTRONIK, EBR Systems, Inc., Microport Scientific Corporation, MEDICO S.p.A., among others |
Cardiac Resynchronization Therapy Market Assessment
- Cardiac Resynchronization Therapy Market Segmentation
- Market Segmentation By Product Type: CRT-Defibrillators and CRT-Pacemakers
- Market Segmentation By End User: Hospitals, Specialty Clinics, and Others
- Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which MedTech key players in the cardiac resynchronization therapy market are set to emerge as the trendsetter explore @Cardiac Resynchronization Therapy Companies
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Key Factors Analysis |
| 5 | Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Cardiac Resynchronization Therapy Market |
| 7 | Cardiac Resynchronization Therapy Market Layout |
| 8 | Global Company Share Analysis – Key 3-5 Companies |
| 9 | Cardiac Resynchronization Therapy Market Company and Product Profiles |
| 10 | Project Approach |
| 11 | About DelveInsight |
Interested in knowing the cardiac resynchronization therapy market by 2027? Click to get a snapshot of the Cardiac Resynchronization Therapy Procedures
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