What is the global market size of Cardiac Resynchronization Therapy Market?

Global Cardiac Resynchronization Therapy Market size was valued at USD 4.06 billion in 2021 and is poised to grow from USD 4.26 billion in 2022 to USD 6.23 billion by 2030, growing at a CAGR of 4.8% in the forecast period (2023-2030).

Global Cardiac Resynchronization Therapy Market Size, Share, Growth Analysis, By Type(CRT-Defibrillator and CRT-Pacemaker), By Application(Intraventricular desynchrony, Interventricular (V-V) desynchrony), By End User(Hospitals, Cardiac Care Centres) - Industry Forecast 2024-2031

Report ID: SQMIG35D2074 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 88 | Figures: 76

Global Cardiac Resynchronization Therapy Market Dynamics

Cardiac Resynchronization Therapy Market Drivers:

Increasing Prevalence of Cardiovascular Diseases

Approximately half of all mortality from cardiovascular diseases are caused by sudden cardiac death, despite advancements in prevention and therapy. Sudden cardiac death is still a major cause of death. The demand for cardiac resynchronization therapy devices is anticipated to rise as a result of the rising prevalence of heart illnesses and their risk factors. Heart failure is one of the leading causes of death in the world.

Rising Sedentary Lifestyle

Physical inactivity is a major public health concern because it is connected to the second-highest number of deaths in the U.S., after smoking. Morbid obesity and numerous other chronic conditions, including heart issues and diabetes, can be brought on by physical inactivity. It has frequently been noted that prolonged periods of inactivity worsen the symptoms of CVD in diabetic and atherosclerotic patients who are otherwise physically active. Cardiovascular diseases like angina, myocardial infarction, and stroke are major effects of this lifestyle.

Cardiac Resynchronization Therapy Market Restraint:

Product Recall

Boston Scientific Corporation started the INGENIO family of pacemakers and CRT-Ps recall in June 2022. ADVANTIO DR EL, INGENIO DR EL, and VITALIO DR EL are a few of them. Between November 2016 and August 2022, the recalled devices were distributed after being produced between September 2016 and December 2018. In the United States, some 48,000 gadgets were recalled. The possibility of the gadget entering safety mode led to the recall.

Global Cardiac Resynchronization Therapy Market Report Snapshots

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Cardiac Resynchronization Therapy Market size was valued at USD 4.06 billion in 2019 and is poised to grow from USD 4.26 billion in 2023 to USD 6.23 billion by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).

The competitive landscape for the cardiac resynchronization therapy market provides information by competitor. Included information includes a business overview, financials, revenue generated, market potential, investments in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launches, product breadth and depth, and application dominance. Only the companies' market focus on cardiac resynchronization therapy is covered by the data points mentioned above. 'Medtronic', ' Abbott Laboratories ', ' Boston Scientific Corporation ', ' Biotronik SE & Co. KG ', ' LivaNova PLC ', ' St. Jude Medical, Inc. ', ' EBR Systems, Inc. ', ' Cardiac Dimensions, Inc. ', ' Sorin Group ', ' Cook Medical, Inc. ', ' Osprey Medical, Inc. ', ' BioVentrix, Inc. ', ' MicroPort Scientific Corporation ', ' Endologix, Inc. ', ' InspireMD, Inc. ', ' Integer Holdings Corporation ', ' Inari Medical, Inc. ', ' Syncardia Systems, Inc. ', ' AngioDynamics, Inc. ', ' Cardiva Medical, Inc. '

Approximately half of all mortality from cardiovascular diseases are caused by sudden cardiac death, despite advancements in prevention and therapy. Sudden cardiac death is still a major cause of death. The demand for cardiac resynchronization therapy devices is anticipated to rise as a result of the rising prevalence of heart illnesses and their risk factors. Heart failure is one of the leading causes of death in the world.

Patients with heart failure who are also at high risk for sudden cardiac death should use CRT - Defibrillators (CRT-D). A CRT-D device treats sluggish heart rhythms similarly to a typical pacemaker, but it additionally sends tiny electrical impulses to the left and right ventricles to encourage coordinated contraction. Your heart will pump more effectively as a result. Arrhythmias, which are dangerously rapid heartbeats that might cause a sudden cardiac arrest, can also be treated with a CRT-D device. A shock is given to the heart if the equipment detects dangerously rapid heartbeats. Defibrillation, or this shock, puts an end to the irregular rhythm. The dangerously rapid pulse could result in death in only minutes without this life-saving treatment. Through new smartphone connectivity and connected applications, the devices provide new opportunities for patient engagement and remote monitoring. A patient-favourite design, longer battery life, and MRI compatibility are additional advantages. Due to the rising incidence and mortality of cardiovascular diseases, these devices have recently increased.

Due to its increasing geriatric population and growing regulatory approvals, the North American Cardiac Resynchronization Therapy market is expected to continue its leadership during the forecast period. The development can be ascribed to a number of variables, including rising consumer knowledge of the advantages of cardiovascular devices, high levels of disposable money, and the presence of a sophisticated healthcare infrastructure. Additionally, this region is home to a number of medical equipment suppliers who are engaged in the global provision of cardiovascular care. These businesses are concentrating on introducing cutting-edge products with attributes that are projected to further fuel market expansion, such as miniaturisation and longer battery life.

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Global Cardiac Resynchronization Therapy Market Size, Share, Growth Analysis, By Type(CRT-Defibrillator and CRT-Pacemaker), By Application(Intraventricular desynchrony, Interventricular (V-V) desynchrony), By End User(Hospitals, Cardiac Care Centres) - Industry Forecast 2024-2031

Global Cardiac Resynchronization Therapy Market Dynamics

Global Cardiac Resynchronization Therapy Market Report Snapshots

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