Cardiac Resynchronization Therapy (CRT) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Cardiac Resynchronization Therapy (CRT) Market is Segmented by Type (CRT - Defibrillators, and CRT - Pacemakers), End-User, and Geography

Market Snapshot

Cardiac Resynchronization Therapy Market Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 5.8 %
Cardiac Resynchronization Therapy Market Top Companies

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Market Overview

The major factors for the growth of the cardiac resynchronization therapy (CRT) market include the rising burden of heart failure and cardiac disorders and an increase in the geriatric population and rising sedentary lifestyle among the population.

The global population is aging rapidly, owing to reduced birth rates and increasing life expectancy. According to a report by the United Nation Economic and Social Commission for Asia and the Pacific (ESCAP), the geriatric population in the Asia-Pacific region was around 617.1 million in 2015, accounting for more than half of the world’s total elderly population. It is estimated that, by 2050, Asia-Pacific will account for almost two-thirds of the world’s geriatric population. The rise in the geriatric population is one of the major reasons behind the increase in the cases of cardiovascular and heart failure. 

According to the European Heart Network, 2017, every year, cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU). Furthermore, the sedentary lifestyle leads to a high prevalence of high blood pressure, high cholesterol, obesity, and high alcohol consumption, which together contributes to the high incidence of cardiovascular diseases. Therefore, the sedentary lifestyle leading to high growth in cardiovascular disease cases. The increasing awareness of the treatment options is also expected to drive the market studied

Scope of the Report

As per the scope of this report, cardiac resynchronization therapy (CRT) is the insertion of the electrodes in the left and right ventricles of the heart. This therapy is used in patients suffering from heart failure and cardiac arrhythmia. 

By Type
CRT - Defibrillators
CRT - Pacemakers
By End User
Hospital
Ambulatory Care Settings
Other
Geography
North America
United States
Canada
Mexico
Europe
France
Germany
United Kingdom
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

CRT - Defibrillators is the Segment by Type Expected to hold Larger Share Over the Forecast Period

The CRT – Defibrillators (CRT-D) are the special devices for heart failure patients who are also at high risk for sudden cardiac death. While functioning like a normal pacemaker to treat slow heart rhythms, a CRT-D device also delivers small electrical impulses to the left and right ventricles to help them contract at the same time. This will help your heart pump more efficiently.

A CRT-D device can also treat dangerously fast heart rhythms (arrhythmias) that can lead to sudden cardiac arrest. If the device senses heartbeats that are dangerously fast, it delivers a shock to the heart. This shock (defibrillation) stops the abnormal rhythm. Without this life-saving therapy, the dangerously rapid rhythm could lead to death in just minutes.

The use of these devices has increased recently due to the increasing incidence and mortality of cardiovascular diseases (CVD). As per a 2019 report by the American Heart Association, CVD is the leading global cause of death, accounting for more than 17.6 million deaths per year in 2016, a number that is expected to grow to more than 23.6 million by 2030. This factor is expected to increase the demand of CRT-D in future, which will boost the market growth.

Cardiac Resynchronization Therapy Market Share

North America is Expected to Hold Largest Market Share over the Forecast Period

The healthcare expenditure in the United States is among the highest, as per the GDP, globally. More than 18% of GDP is spent on healthcare each year in the United States. The country accommodates several medical device companies working on CRT therapy from around the world, having a good direct distribution channel, as well as third-party services for equipment distribution in relation to medical/hospitals requirement, and home care needs. 

Furthermore, there is a rise in technological advancement in the devices. During the forecast period, the growth is expected to be consistent, with the high requirement in hospitals, for several applications across the country. Thus, owing to all the above-mentioned factors, the market is expected to witness high growth over the forecast period.

Cardiac Resynchronization Therapy Market Growth Rate By Region

Competitive Landscape

The market studied is a consolidated market owing to the presence of few major market players. Some of the market players are Abbott Laboratories, BIOTRONIK, Boston Scientific Corporation, Lepu Medical Technology Co., Ltd., MEDICO S.p.A., Medtronic Plc, Microport Scientific Corporation, and Shree Pacetronix Ltd.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Burden of Heart Failure and Cardiac Disorders

      2. 4.2.2 Increase in Geriatric Population and Rising Sedentary Lifestyle among the Population

    3. 4.3 Market Restraints

      1. 4.3.1 Stringent Regulations

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 CRT - Defibrillators

      2. 5.1.2 CRT - Pacemakers

    2. 5.2 By End User

      1. 5.2.1 Hospital

      2. 5.2.2 Ambulatory Care Settings

      3. 5.2.3 Other

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 France

        2. 5.3.2.2 Germany

        3. 5.3.2.3 United Kingdom

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 BIOTRONIK

      3. 6.1.3 Boston Scientific Corporation

      4. 6.1.4 Lepu Medical Technology Co., Ltd.

      5. 6.1.5 MEDICO S.p.A.

      6. 6.1.6 Medtronic Plc

      7. 6.1.7 Microport Scientific Corporation

      8. 6.1.8 Shree Pacetronix Ltd.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Cardiac Resynchronization Therapy (CRT) Market market is studied from 2018 - 2026.

The Cardiac Resynchronization Therapy (CRT) Market is growing at a CAGR of 5.8% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Abbott Laboratories, BIOTRONIK, Boston Scientific Corporation, Lepu Medical Technology Co., Ltd., Medtronic Plc are the major companies operating in Cardiac Resynchronization Therapy (CRT) Market.

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