Patients with heart failure can benefit from cardiac resynchronization therapy (CRT), a medical procedure that helps to better coordinate the contractions of the heart’s chambers. Using a CRT pacemaker, which is implanted beneath the skin and provides electrical impulses to the heart to synchronise the contraction of the left and right ventricles, is how it is done. Due to the rising incidence of heart failure and increased public awareness of the advantages of CRT, the market for CRT devices is anticipated to expand in the upcoming years. Growth in the market will also be fueled by the creation of new CRT technologies and the expanding use of CRT in emerging nations. The market, however, might be impacted by elements including the high price of
Fact has just published a brand-new industry analysis study on cardiac resynchronization therapy.Revenues from MR. Cardiac Resynchronization Therapy are anticipated to reach $5.7 billion globally in 2021. The market is expected to increase at a 7.9% annual pace between 2022 and 2032, which is a bit slower than the national average. The CRT-Defibrillators market is expected to generate the most income, with a total potential of over $4 billion between 2022 and 2032.
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Market Segments Covered in Cardiac Resynchronization Therapy Industry Analysis
- By Product Type :
- By End-user Type :
- Cardiac Center
- Other End-users
- By region :
- North America
- Latin America
Key Takeaways from the Market Study
- Cardiac resynchronization therapy market is expected to achieve a market value of US$ 6.2 Bn by 2022
- In 2022, North America to contribute more than 40% of market revenue.
- CRT-Defibrillator product type to account for US$ 6.8 Bn which will be around 60% approximately of the market revenue in 2022
- Among end-users, revenue from Hospitals is projected to garner over 53% of market revenue, growing at a CAGR of over 8% during the forecast period
- The market in Europe is projected to experience a CAGR of 8.2% during 2022-2032
Key Companies Profiled
- Boston Scientific
- Abbott Laboratories
- MicroPort Scientific Corporation
- Scranton Gillette
A number of regional and global players operate in this market. These companies compete based on the innovation of their products, their quality, their brand reputation, and their market presence in order to sell their products through various industries. A variety of strategies are being employed by companies to remain competitive.
- In February 2020, Abbott announced the newest gallant CE-marked implantable cardioverter-defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) devices in February 2020, providing patients with the most advanced heart rhythm management capabilities.
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