Global Cardiac Resynchronization Therapy Market Size, Trends & Growth Opportunity, Product Type (Cardiac Resynchronization Therapy Defibrillators and Cardiac Resynchronization Therapy Pacemakers), By Applications (Hospitals & Cardiac Centers, and Ambulatory Surgery Centers) and By Region and Forecast till 2027.
Report ID : QR1001341 | Industries : Healthcare | Published On :January 2022 | Page Count : 235Global Cardiac Resynchronization Therapy Market
Cardiac resynchronization remedy (CRT), additionally called biventricular pacing, is a cardiac remedy procedure. It is achieved to accurate the coronary heart’s rhythm and any signs and symptoms related to arrhythmia, i.e., abnormal coronary heart rhythm. In cardiac resynchronization remedy, a pacemaker is implanted close to the left and proper ventricles of the coronary heart, with 3 wires connected to it to screen coronary heart irregularities. The CRT can accurate them via way of means of emitting small pulses of electricity. Thus, this remedy is known as resynchronization of the coronary heart. A cardiac resynchronization remedy (CRT) is a scientific remedy for coronary heart failure sufferers who're at excessive hazard for surprising cardiac demise via way of means of the use of superior scientific units or devices. It is mostly used to treat patients who have dangerously fast heart rhythms known as arrhythmias. In the event of treatment, this device sends small electrical impulses to the left and right ventricles of the heart, allowing them to contract at the same time while also acting as a pacemaker to treat slow heart rhythms. The synchronised contraction will increase the heart's blood pumping and stop its abnormal rhythms.
Drivers: Prevalence of Cardiovascular Disorders is boosting the market growth of Global Cardiac Resynchronization Therapy Market. The cardiac resynchronization therapy market has grown significantly as a result of a large number of cardiovascular cases around the world over the last decade, as it is required to treat heart arrhythmias. According to the WHO, cardiovascular diseases are responsible for around 315 of all deaths worldwide. Sedentary behaviour is linked to higher blood pressure, which can lead to heart disease. The growing number of elderly people is another factor driving market growth. Most patients with pacemakers are over the age of 65, according to J. Rod Gimbel, M.D., a cardiac electrophysiologist at Cardiology Associates of East Tennessee. CRT has become a requirement among them to facilitate heart activity due to their high susceptibility to cardiac disorders.
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Restraints: High Cost of Cardiac Resynchronization Therapy is restraining the Market Growth of Global Cardiac Resynchronization Therapy Market. The cost of cardiac resynchronization therapy makes it unaffordable for many patients, even if their situation is dire. A pacemaker costs around USD 6,250 on average. As a result, the high product price is a barrier to market expansion. Every three to seven years, defibrillators and pacemakers must be replaced.
Impact of Covid-19
The majority of invasive and surgical procedures were cancelled or postponed during the COVID-19 outbreak due to the risk of virus exposure. Furthermore, because the majority of healthcare resources and personnel are focused on COVID-related cases, many cardiac-related cases have taken a backseat. As a result, the cardiac resynchronization market has experienced a significant decline. Temporary pacemaker patients are 2.5 times more likely than permanent pacemaker patients to develop a COVID-19 infection before permanent implantation, according to a 2020 cardiology report. During the pandemic, consumer demand for CRT was reduced due to fear of infection. Furthermore, during the COVID-19 pandemic, many countries imposed nationwide lockdowns, suspended trade activities, and imposed travel restrictions, resulting in low production and distribution of cardiac resynchronization therapy around the world.
Segmentation By Product Type: The Global Cardiac Resynchronization Therapy Market are classified on the basis of Product Type into Cardiac Resynchronization Therapy Defibrillators and Cardiac Resynchronization Therapy Pacemakers. Cardiac Resynchronization Therapy Defibrillators holds the largest market share of Global Cardiac Resynchronization Therapy Market in 2018.
Segmentation By Application: The Global Cardiac Resynchronization Therapy Market are classified on the basis of Application into Hospitals & Cardiac Centers, and Ambulatory Surgery Centers. In 2018, the Hospitals & cardiac centers holds the largest market share of Global Cardiac Resynchronization Therapy Market.
Segmentation By Region: The Global Cardiac Resynchronization Therapy Market are classified on the basis of Region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape: The key market players of Global Cardiac Resynchronization Therapy Market are Medtronic (Ireland), Abbott (US), Boston Scientific Corporation (US), MicroPort Scientific Corporation (China), BIOTRONIK (Germany), and Medico S.p.A. (Italy).
Industrial Development
The company's quadripolar cardiac resynchronization therapy pacemakers (CRT-Ps), which improve therapy delivery for patients with heart failure, were approved by the US FDA in 2017.
A suite of quadripolar cardiac resynchronization therapy pacemakers was also approved by the CE mark in 2017. (CRT-Ps).
Market Taxonomy
By Product Type
- Cardiac Resynchronization Therapy Defibrillators
- Cardiac Resynchronization Therapy Pacemakers
By Applications
- Hospitals & Cardiac Centers
- Ambulatory Surgery Centers
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Global Cardiac Resynchronization Therapy Market?
- What will be the growth rate from 2020 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
Global Cardiac Resynchronization Therapy Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Cardiac Resynchronization Therapy Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5. Global Cardiac Resynchronization Therapy Market, By Product Type
5.1 Y-o-Y Growth Comparison, By Product Type
5.2 Cardiac Resynchronization Therapy Market Share Analysis, By Product Type
5.3 Cardiac Resynchronization Therapy Market Size and Forecast, By Product Type
5.3.1 Cardiac Resynchronization Therapy
5.3.2 Cardiac Resynchronization Therapy Pacemakers
6. Global Cardiac Resynchronization Therapy Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Cardiac Resynchronization Therapy Market Share Analysis, By Application
6.3 Cardiac Resynchronization Therapy Market Size and Forecast, By Application
6.3.1 Hospitals & Cardiac Centers
6.3.2 Ambulatory Surgery Centers
7. Global Cardiac Resynchronization Therapy Market, By Region
7.1 Cardiac Resynchronization Therapy Market Share Analysis, By Region
7.2 Cardiac Resynchronization Therapy Market Size and Forecast, By Region
7.3 Cardiac Resynchronization Therapy Market Size and Forecast, By Region
8. North America Cardiac Resynchronization Therapy Analysis and Forecast (2021-2027)
8.1 Introduction
8.2 North America Cardiac Resynchronization Therapy Market Share Analysis, By Product Type
8.3 North America Cardiac Resynchronization Therapy Market Size and Forecast, By Application
8.4 North America Cardiac Resynchronization Therapy Market Size and Forecast, By Country Type
8.4.1 US
8.4.2 Canada
9. Europe Cardiac Resynchronization Therapy Market Analysis and Forecast (2021-2027)
9.1 Introduction
9.2 Europe Cardiac Resynchronization Therapy Market Share Analysis, By Product Type
9.3 Europe Cardiac Resynchronization Therapy Market Size and Forecast, By Application
9.4 Europe Cardiac Resynchronization Therapy Market Size and Forecast, By Country
9.4.1 UK
9.4.2 Germany
9.4.3 France
9.4.4 Italy
9.4.5 Spain
9.4.6 Netherland
10. Asia Pacific Cardiac Resynchronization Therapy Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 Asia Pacific Cardiac Resynchronization Therapy Market Share Analysis, By Product Type
10.3 Asia Pacific Cardiac Resynchronization Therapy Market Size and Forecast, By Application
10.4 Asia Pacific Cardiac Resynchronization Therapy Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 Australia
11. Latin America Cardiac Resynchronization Therapy Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Latin America Cardiac Resynchronization Therapy Market Share Analysis, By Product Type
11.3 Latin America Cardiac Resynchronization Therapy Market Size and Forecast, By Application
11.4 Latin America Cardiac Resynchronization Therapy Market Size and Forecast, By Country
11.4.1 Brazil
11.4.2 Rest of Latin America
12 Middle East & Africa Cardiac Resynchronization Therapy Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Middle East & Africa Cardiac Resynchronization Therapy Market Share Analysis, By Product Type
12.3 Middle East & Africa Cardiac Resynchronization Therapy Market Size and Forecast, By Application
12.4 Middle East & Africa Cardiac Resynchronization Therapy Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.2 UAE
12.4.3. Egypt
12.4.4. Kuwait
12.4.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14. Company Profiles
14.1 Medtronic (Ireland)
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 Medtronic (Ireland)
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 Boston Scientific Corporation (US)
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 MicroPort Scientific Corporation (China)
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 BIOTRONIK (Germany)
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Medico S.p.A. (Italy)
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies