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    Cardiac Resynchronization Therapy Systems Market Report

    Cardiac Resynchronization Therapy Systems Market Report
    Report code - SR1712 Delivery - 2 Weeks
    Cardiac Resynchronization Therapy Systems Market Size, Share, Trend, Forecast, & See more...

    Market Insights

    The cardiac resynchronization therapy systems market is projected to grow from USD 2.85 billion in 2022 to USD 3.96 billion by 2028 at a CAGR of 5.64% during the forecast period.

    Market Size

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    What are cardiac resynchronization therapy (CRT) systems?

    Cardiac resynchronization therapy (CRT) systems are referred to as cardiac electrophysiology (EP) systems which include a small electronic device that is surgically implanted into a pocket of skin to help both ventricles contract together. These devices are also known as biventricular pacemakers and can be used for packing only or can consist of a built-in defibrillator.

    Cardiac Resynchronization Therapy Systems Market Report Overview

    Market Size in 2028

    USD 3.96 Billion

    Market Size in 2022

    USD 2.85 Billion

    Market Growth (2023-2028)

    CAGR of 5.64%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    COVID-19 Impact Analysis

    The COVID-19 pandemic has moderately affected the cardiac resynchronization therapy systems industry. The rapid spread of COVID-19 has led to several thousands of hospital admissions. The focus of healthcare professionals has been shifted toward the treatment of COVID-19-infected patients, which affected the treatment of non-emergency medical conditions, amid the pandemic.

    Market Drivers

    The market is driven by a host of factors, some of which are noted below:

    • Rapid urbanization & increased cases of heart failure are due to changes in lifestyle and the rising prevalence of malnutrition.
    • Genetic mutations and others are likely to result in cardiovascular diseases (CVDs) among adults.
    • Moreover, hectic work schedules, rising consumption of fast food, and a surge in the prevalence of cardiac blockages and arrests have been witnessed across the globe, which is expected to bolster the product demand.
    • In addition, the surge in the demand for invasive techniques in the treatment of heart diseases, technological advancements, and the rise in the adaptability of CRT devices further offers lucrative opportunities to the market players.

    Snapshot

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    Segment Analysis

    Product Trends

    The market has been classified into cardiac resynchronization therapy pacemakers and cardiac resynchronization therapy defibrillators. Under these, the cardiac resynchronization therapy defibrillator segment held the largest market share in 2022 and is likely to grow at a considered CAGR during the forecast period. This is mainly ascribed to the growing acceptance of CRT-Ds over pacemakers as well as the launch of technologically advanced devices.

    End-Use Trends

    The market has been classified into hospitals, ambulatory surgical centers, clinics & homecare settings. The hospital's segment occupied the largest share of the market in 2022 & is expected to remain dominant during the forecast period.  This is due to the high use of CRT devices in hospitals, as the majority of procedures are performed in hospitals.

    Regional Insight

    Asia Pacific held a significant market share in 2022 and is projected to grow at a healthy CAGR in the coming years.

    Regional Insight

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    The favorable reimbursement scenario in Japan, increasing occurrences of cardiac stroke, improving healthcare infrastructure, growing middle-class population, a significant presence of geriatric population in China, surging incidence of CVDs, and rising disposable income levels in India, augment the regional market growth during the forecast timeline.

    Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories:

    By Product

    • Cardiac Resynchronization Therapy Pacemaker
    • Cardiac Resynchronization Therapy Defibrillator

    By End-Use

    • Hospitals
    • Ambulatory Surgical Centres
    • Clinics
    • Homecare Settings

    By Region

    • North America (Country Analysis: The USA, Canada, and Mexico),
    • Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe),
    • Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific),
    • Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others).

    Key Players

    The following are some of the key players operating in the cardiac resynchronization therapy systems market are-

    • Medtronic (Ireland)
    • Boston Scientific (US)
    • Abbott (US)
    • LivaNova (UK)
    • Biotronik (Germany)
    • Asahi Kasei (Japan)
    • Nihon Kohden (Japan)
    • Schiller AG (Switzerland)
    • Medico S.p.A (Italy)
    • Koninklijke Philips N.V. (Netherlands)

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. 
    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

     

    How big is the sales opportunity?

    In-depth Analysis of the cardiac resynchronization therapy systems market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Target Audience

    Here is the list of the group of customers that the Cardiac Resynchronization Therapy Systems Market hopes to have the greatest opportunity to convert-

    • Companies
    • Distributors
    • Medical companies
    • Government organizations

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Customization Option

    Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Cardiac resynchronization therapy (CRT) systems are referred to as cardiac electrophysiology (EP) systems which include a small electronic device that is surgically implanted into a pocket of skin to help both the ventricles contract together. These devices are also known as biventricular pacemakers and can be used for packing only or can consist of a built-in defibrillator.

    The market is projected to grow by USD 2.85 billion in 2022.

    The market is projected to reach USD 3.96 billion by 2028.

    The market is projected to grow at a CAGR of 5.64% during the forecast period.

    Medtronic (Ireland), Boston Scientific (US), Abbott (US), LivaNova (UK), Biotronik (Germany), Asahi Kasei (Japan), Nihon Kohden (Japan), Schiller AG (Switzerland), Medico S.p.A (Italy) & Koninklijke Philips N.V. (Netherlands) are the top players in market

    Asia Pacific held a significant market share in 2022 and is projected to grow at a healthy CAGR in the coming years.

    The study period of this market report is 2017-2028.