Global Cardiac Resynchronization Therapy Market, by Product (CRT-D and CRT-P), Region (North America, Europe, Asia Pacific, Middle East and Africa, Latin America), Global Forecast, 2018 to 2028
Sep 2020
Total Pages: 160
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The global cardiac resynchronization therapy market was valued at USD 5.68 billion in 2019 and is expected to grow at a CAGR of 7.6% over the forecast period. Rising incidence of heart failure & other cardiac medical conditions, continuous investment in R&D by major players, coupled with increasing sedentary lifestyle in the population is anticipated to fuel the market growth.
Agencies such as the European Cardiology Society and the European Heart Rhythm Association have been formulating recommendations to increase awareness and encourage innovations in this area. These recommendations have been classified into three sub-sets that enable effective decision-making based on the type of patient.
Key players serving the global market include LivaNova, BIOTRONIK Boston Scientific, St. Jude Medical, among other prominent players.
Key segments of the global cardiac resynchronization therapy market
Product Overview, 2018-2028 (USD Million)
- CRT-D
- CRT-P
Regional Overview, 2018-2028 (USD Million)
- North America
- U.S.
- Canada
- Europe
- Germany
- United Kingdom
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global cardiac resynchronization therapy industry
- The overall segmentation of cardiac resynchronization therapy market, especially key segments are thoroughly studied.
- Presence of major players and their wide Industry portfolio across developed countries is anticipated to further boost the growth of cardiac resynchronization therapy market
What does the report include?
- The study on the global cardiac resynchronization therapy market includes analysis of qualitative market indicators such as drivers, restraints, challenges and opportunities
- Additionally, the market competition has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of class and Industry. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the considered segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global cardiac resynchronization therapy market is suitable for all the players across the value chain including raw material suppliers, cardiac resynchronization therapy providers, medical device manufacturers, distributors, suppliers and retailers
- Venture capitalists and investors looking for more information on the future outlook of the global cardiac resynchronization therapy market
Consultants, analysts, researchers, and academicians looking for insights shaping the global cardiac resynchronization therapy market
As of 2016, first, and second-generation products of the CRT industry are available in terms of technical advances. In addition, a third-generation model is ongoing, and Medtronic became a leader in 2016 by securing FDA clearance for two MRI-Safe CRT-D products. The products of the third generation are intended to promote MRI testing of patients implanted with these instruments without risk of incurring any complications or fatality.
Medtronic Plc., one of the major companies, makes tremendous investment for their cardiovascular business divisions to keep up-to - date with technological developments to satisfy patient needs. It announced a USD 1.64 billion investment in R&D activities as of 2015.
The growing number of geriatric patients across the globe is an ancillary factor promoting the development of this field. They are more vulnerable to disease, and are required to require these items of resynchronization therapy to promote healthier heart function. In reference to heart failure, such conditions such as irregular heartbeats, congenital heart disease, and vascular disease also require the use of certain instruments.
The global cardiac resynchronization therapy market has been bifurcated based on product and region. In terms of product the market is divided into CRT-D and CRT-P. Due to their higher level of scheduling operation and the capacity to record unfavourable events on time, CRT-D is predicted to lead as of 2019, thus reducing the mortality rate. Key players however are moving for further development. LivaNova, for example, launched a new generation of their CRT products underneath the brand name PLATINUM during 2015. These goods are supposed to offer an improved lifespan of over 10 years, according to the company.
Based on regions, the global cardiac resynchronization therapy market is segmented into North America, Europe, Asia Pacific, Central and South America and Middle East & Africa. Emerging markets such as APAC are giving companies major growth prospects in the demand for the Industry’s in coming years.
North America holds the largest share of market sales due to expanded awareness of the availability of high-quality laboratory knowledge research services and a favorable regulatory scenario that enhances regional demand growth. Furthermore, increasing number of approvals by U.S. FDA regarding new products is likely to favour the regional growth.
Europe also holds a large share and is expected to see more than 7 per cent robust growth with CAGR in the next 10 years. High stringency towards R&D, follow-up of the protection standards and product approvals are required to accelerate development by the healthcare agencies.
The global cardiac resynchronization therapy market was valued at USD 5.68 billion in 2019 and is expected to grow at a CAGR of 7.6% over the forecast period. Rising incidence of heart failure & other cardiac medical conditions, continuous investment in R&D by major players, coupled with increasing sedentary lifestyle in the population is anticipated to fuel the market growth.
Agencies such as the European Cardiology Society and the European Heart Rhythm Association have been formulating recommendations to increase awareness and encourage innovations in this area. These recommendations have been classified into three sub-sets that enable effective decision-making based on the type of patient.
Key players serving the global market include LivaNova, BIOTRONIK Boston Scientific, St. Jude Medical, among other prominent players.
Key segments of the global cardiac resynchronization therapy market
Product Overview, 2018-2028 (USD Million)
- CRT-D
- CRT-P
Regional Overview, 2018-2028 (USD Million)
- North America
- U.S.
- Canada
- Europe
- Germany
- United Kingdom
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global cardiac resynchronization therapy industry
- The overall segmentation of cardiac resynchronization therapy market, especially key segments are thoroughly studied.
- Presence of major players and their wide Industry portfolio across developed countries is anticipated to further boost the growth of cardiac resynchronization therapy market
What does the report include?
- The study on the global cardiac resynchronization therapy market includes analysis of qualitative market indicators such as drivers, restraints, challenges and opportunities
- Additionally, the market competition has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of class and Industry. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the considered segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global cardiac resynchronization therapy market is suitable for all the players across the value chain including raw material suppliers, cardiac resynchronization therapy providers, medical device manufacturers, distributors, suppliers and retailers
- Venture capitalists and investors looking for more information on the future outlook of the global cardiac resynchronization therapy market
Consultants, analysts, researchers, and academicians looking for insights shaping the global cardiac resynchronization therapy market
Chapter 1. Introduction
1.1. Introduction to the Study
1.2. Market Definition and Scope
1.3. Units, Currency, Conversions and Years Considered
1.4. Key Stakeholders
1.5. Key Questions Answered
Chapter 2. Research Methodology
2.1. Introduction
2.2. Data Capture Sources
2.3. Primary Sources
2.4. Secondary Sources
2.5. Market Size Estimation
2.6. Market Forecast
2.7. Data Triangulation
2.8. Assumptions and Limitations
Chapter 3. Market Outlook
3.1. Introduction
3.2. Macroeconomic Indicators
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Restraints
3.3.3. Opportunities
3.3.4. Challenges
3.4. Porter’s Five Forces Analysis
3.5. COVID-19 Impact Analysis
Chapter 4. Global Cardiac Resynchronization Therapy Market by Industry, 2018-2028 (USD Million)
4.1. CRT-D
4.2. CRT-P
Chapter 5. Global Cardiac Resynchronization Therapy Market by Region, 2018-2028 (USD Million)
5.1. North America
5.1.1. U.S.
5.1.2. Canada
5.2. Europe
5.2.1. Germany
5.2.2. UK
5.2.3. France
5.2.4. Spain
5.2.5. Rest of Europe
5.3. Asia Pacific
5.3.1. Japan
5.3.2. China
5.3.3. India
5.3.4. Rest of Asia Pacific
5.4. Central and South America
5.5. Middle East and Africa
Chapter 6. Company Profiles
6.1. Medtronic Plc.
6.1.1. Overview
6.1.2. Industrys and Services Portfolio
6.1.3. Recent Initiatives
6.1.4. Company Financials
6.2. LivaNova Plc
6.2.1. Overview
6.2.2. Industrys and Services Portfolio
6.2.3. Recent Initiatives
6.2.4. Company Financials
6.3. BIOTRONIK
6.3.1. Overview
6.3.2. Industrys and Services Portfolio
6.3.3. Recent Initiatives
6.3.4. Company Financials
6.4. Boston Scientific
6.4.1. Overview
6.4.2. Industrys and Services Portfolio
6.4.3. Recent Initiatives
6.4.4. Company Financials
6.5. St. Jude Medical
6.5.1. Overview
6.5.2. Industrys and Services Portfolio
6.5.3. Recent Initiatives
6.5.4. Company Financials
Chapter 7. Appendix
7.1. Primary Research Approach
7.1.1. Primary Interview Participants
7.1.2. Primary Interview Summary
7.2. Questionnaire
7.3. Related Reports
7.3.1. Published
7.3.2. Upcoming