According to Market Research Future (MRFR), the global cardiac resynchronization therapy (CRT) market is poised to create a valuation of approximately USD 4.7 MN by 2027, growing at 5.5% CAGR during the forecast period. The CRT market is increasing as arterial disease patients increase continuously. Additionally, increasing demand for invasive techniques, raising awareness of CRT devices, and favorable government regulation towards reimbursement scenarios boost the growth of the market.
Rising technological advances in heart care, in terms of diverse engineering and design backgrounds, liability, privacy, and financial perspectives essential to succeed in a complex health care system foster the CRT market growth. Also, growing numbers of intensive care units and surgical procedures push market growth. Changing lifestyle and subsequent rise in lifestyle diseases and disorders such as obesity and diabetes expand the cardiac resynchronization therapy market.
The cardiac resynchronization therapy (CRT) Device market is growing pervasively. Market growth mainly attributes to the growing rate of cardiovascular disorders worldwide. There has been a spurting increase in cardiac disorders cases and issues related to heart diseases. Despite the several innovative therapies, the prevalence of these diseases is rising, continually becoming a significant concern. Moreover, the growing adoption of CRT to treat cardiovascular disorders escalates the market growth on the global platform. Players leading the global CRT market include Medtronic, Abbott, Biotronik, Inc., Boston Scientific Corporation, Lepu Medical Technology Co., Ltd., Medico S.p.A., MicroPort Scientific Corporation, and Shree Pacetronix Ltd., among others.
Segmentation
The MRFR report provides an all-inclusive analysis of the cardiac resynchronization therapy market based on type, end user, and application.
- Based on Type, the cardiac resynchronization therapy market is segmented into cardiac resynchronization defibrillator and cardiac resynchronization therapy pacemaker. Of these, the cardiac resynchronization therapy pacemaker segment will dominate the market over the forecast period.
- Based on Application, the cardiac resynchronization therapy market is segmented into atrioventricular desynchrony, interventricular desynchrony, and intraventricular desynchrony. Of these, the intraventricular desynchrony segment will have the largest share in the market owing to the increasing incidence of heart diseases and the growing demand for invasive procedures worldwide. This will be followed by the atrioventricular desynchrony segment.
- Based on End user, the cardiac resynchronization therapy market is segmented into academic and research organizations, cardiac specialty centers, and hospitals. Of these, the hospitals' segment will lead the market over the forecast period since these centers are the key locations for patients that receive the CRT therapy.
Regional Analysis
North America dominates the global cardiac resynchronization therapy market. The largest market share attributes to the prevalence of cardiovascular diseases among the rising geriatric population and vulnerability to hypertension and obesity issues leading to heart diseases and disorders. Adoption of cardiac resynchronization therapy in the Americas is high due to the growing number of people suffering from heart issues. Besides, factors such as increasing government initiatives and RD funding and rising demand for technologically advanced CRTs substantiate the growth of the market.
Europe stands second in the global cardiac resynchronization therapy market. The market is drive by the increasing healthcare expenditure and availability of advanced treatment facilities. A growing geriatric population is leading to a rise in the number of musculoskeletal system disorder cases. Moreover, government initiatives of healthcare and increasing cardiovascular diseases in Europe foster the growth of the market. The European cardiac resynchronization therapy market is estimated to register a phenomenal CAGR during the forecast period.
The cardiac resynchronization therapy market is brisk in the Asia Pacific region. The region is seeing a surge in the number of people afflicted with cardiac resynchronization therapy due to bad posture caused by lifestyle changes, aging, and genetic predisposition. Moreover, factors such as the faster adoption of advanced healthcare technologies, government initiatives to increase the quality of care, favorable insurance, and reimbursement policies boost regional market growth.
Furthermore, increasing numbers of multinational companies are setting up their manufacturing plants in emerging economies such as Singapore, China, Japan, Korea, and Australia. This, as a result, propels the growth of the regional market. The APAC cardiac resynchronization therapy market is projected to create a substantial revenue pocket over the estimated period.
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