the cardiac resynchronization therapy (CRT) market to reach US$ 7.2 Billion by 2027, exhibiting a growth rate (CAGR) of 6.7% during 2022-2027.
BROOKLYN, NY, USA, February 13, 2023 /
EINPresswire.com/ -- According to the latest report by IMARC Group, titled “Cardiac Resynchronization Therapy (CRT) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global
cardiac resynchronization therapy (CRT) market size reached US$ 4.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.2 Billion by 2027, exhibiting a growth rate (CAGR) of 6.7% during 2022-2027.
Cardiac resynchronization therapy (CRT), also known as biventricular pacing, is a treatment used for treating arrhythmias and other disease-related abnormalities by automating right and left ventricle beating simultaneously. In order to send electric impulses into the lower chambers of the heart, the device is powered by a defibrillator, which generates a pulse. CRT devices are surgically implanted and are connected to an external computer, which sends small electrical impulses to the left and right ventricles to support simultaneous contractions. Heart failure patients who do not have their left and right heart segments pumping together will benefit from it as it improves blood flow to the heart.
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Global Cardiac Resynchronization Therapy (CRT) Market Trends:
The global market is majorly driven by the growing incidences of cardiovascular disorders (CVDs), such as coronary heart disease, atrial fibrillation, strokes, and peripheral arterial disease, among the masses. This can be attributed to the increasing geriatric population that is more susceptible to developing these diseases. Apart from this, a considerable rise in healthcare expenditure levels across the globe is impacting the market positively. Moreover, continual technological advancements in medical product and services, along with significant improvements in the healthcare infrastructure, are creating a positive market outlook. The market is further propelled by the augmenting awareness among individuals regarding various therapeutic procedures for cardiovascular ailments. Some of the other factors contributing to the market include the introduction of MRI-safe wireless CRT devices and optimized CRT programs with multipoint pacing, the rising prevalence of sedentary lifestyles, rapid digitization in the healthcare industry, and extensive research and development (R&D) activities.
Cardiac Resynchronization Therapy (CRT) Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the cardiac resynchronization therapy (CRT) market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Abbott Laboratories
Biotronik SE & Co. KG
Boston Scientific Corporation
LivaNova Plc
Medico S.p.A.
Medtronic Plc
Merit Medical Systems Inc.
MicroPort Scientific Corporation.
Key Market Segmentation:
The report has segmented the cardiac resynchronization therapy (CRT) market on the basis of type, application and end user.
Breakup by Type:
CRT-Defibrillator
CRT-Pacemaker
Breakup by Application:
Intraventricular Dyssynchrony
Interventricular (V-V) Dyssynchrony
Atrioventricular (A-V) Dyssynchrony
Breakup by End User:
Hospitals
Cardiac Centers
Ambulatory Surgery Centers
Others
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
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