Pune, India, September 2019/MRFR Press Release/- Market
Research Future has published its Half-Cooked Research Report on the Global
Cardiac Resynchronization Therapy Market.
Market Highlights
According to MRFR analysis, the Global Cardiac
Resynchronization Therapy Market is expected to register a CAGR of 5.50% during
the forecast period of 2019 to 2025 and was valued at USD 4.7 Million in 2025
to USD 4.7 Billion in 2025.
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Cardiac resynchronization therapy is also known as
biventricular pacing, it used to aid in correcting the heart’s rhythm and any
symptoms associated with irregular heart rhythms (arrhythmias). In this
procedure implantation of a pacemaker is done, with three wires attached to the
device to monitor the heart rate irregularities and can emit small pulses of
electricity to correct them, and therefore it’s called resynchronizing the
heart.
The growth of global cardiac
resynchronization therapy market is driven by various factors such as a
growing number of intensive care units, a rising number of surgical procedures,
and rising sedentary lifestyle followed by poor fitness levels. However, the
high costs of therapy are expected to curb the growth of the global cardiac
resynchronization therapy market.
The global cardiac resynchronization therapy market is
currently dominated by several market players. The key players are involved in
innovative product launches and strategic alliance to strengthen their market
positions.
Regional Analysis
The market has been divided, by region, into the
Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas
is expected to be the largest market owing to the increasing prevalence of
cardiac diseases and rising per capita healthcare expenditure. The cardiac
resynchronization therapy market in the Americas has further been branched into
North America and Latin America, with the North American market divided into
the US and Canada. The European cardiac resynchronization therapy market has
been categorized as Western Europe and Eastern Europe. The Western European
market has further been classified as Germany, France, the UK, Italy, Spain,
and the rest of Western Europe. The cardiac resynchronization therapy market in
Asia-Pacific has been segmented into Japan, China, India, South Korea,
Australia, and the rest of Asia-Pacific. Due to the increasing surgical
procedure and rising awareness about cardiac resynchronization therapy (CRT)
devices, the market in Asia-Pacific is expected to be the fastest-growing. The
cardiac resynchronization therapy market in the Middle East & Africa has
been divided into the Middle East and Africa.
Segmentation
The global cardiac resynchronization therapy market has
been segmented based on application, type, and end user. The market, based on
application, has been divided into intraventricular dyssynchrony,
interventricular (V-V) dyssynchrony, and atrioventricular (A-V) dyssynchrony.
The intraventricular dyssynchrony segment is likely to be the largest during
the review period due to the growing prevalence rate of heart diseases followed
by, increasing demand for invasive procedures globally. In year 2018, a study
showed nearly 78,000 and 116,000 people are suffering from atrial fibrillation
(a type of abnormal heart rhythm) in France and Germany, respectively.
The atrioventricular (A-V) dyssynchrony segment is
predicted to be the fastest-growing due to the rising geriatric
population. The global cardiac
resynchronization therapy market has been segmented, on the basis of type, into
cardiac resynchronization therapy pacemaker (CRT-P), and cardiac resynchronization
therapy defibrillator (CRT-D). The CRT-P segment is expected to hold the
majority share of the market. In 2018, a study showed in a group of 200 people
52.2% used CRT-P for arrhythmias related problem, and 47.5% people used for
atrioventricular blockage treatment. The end user segments of the market are
hospitals, cardiac specialty centers, and academic and research organizations.
The hospitals segment is expected to hold the largest share of the market as
these centers are the primary locations for patients receiving the therapy.
Key Players
Some of the key players in the global cardiac
resynchronization therapy market are Medtronic (Ireland), BIOTRONIK, Inc. (US),
Boston Scientific Corporation (US), MicroPort Scientific Corporation (China),
Shree Pacetronix Ltd. (India), Medico S.p.A. (Italy), Abbott (US), and Lepu
Medical Technology Co., Ltd. (China).
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