Cardiac Resynchronization Therapy (CRT) Market Size Report, 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Cardiac Resynchronization Therapy (CRT) Market


The global cardiac resynchronization therapy (CRT) market size was valued at USD 4.74 billion in 2016 and is expected to grow at a CAGR of 7.9% over the forecast period. Increasing incidence of heart failure(s) & other cardiac disorders, stable R&D investment for technological advancements by players, and rising sedentary lifestyle amongst the population are expected to promote growth over the forecast period.
For instance, Medtronic Plc., one of the prominent players, makes huge investment for their cardiac and vascular business units to remain abreast with global advancements and cater to the needs of the patients. As of 2015, it has reported an investment of USD 1.64 billion towards R&D activities.
 
An ancillary factor supporting growth of this industry is the increasing volume of geriatric patients across the globe. They are more susceptible to illness and are anticipated to require these resynchronization therapy products to facilitate healthy activity of the heart. Apart from heart failure, certain conditions such as arrhythmias, congenital heart disease, and atrial fibrillation also demand the usage of these devices.
In order to raise awareness and promote the developments in this market, guidelines have been formulated by agencies such as the European Society of Cardiology and the European Heart Rhythm Association. These guidelines have been documented into three subsets depending on the type of patient to provide accurate decision making.
In terms of technological advancements, as of 2016, first as well as second-generation products of the CRT market are available. Furthermore, a third-generation product is under way and Medtronic has become a pioneer by gaining FDA approval for two MRI-Safe CRT-D devices in 2016. The third-generation products are aimed at facilitating MRI testing of patients implanted with these devices without the fear of incurring any complications or fatalities.

Market Segmentation, Outlook & Viewpoint: Global Cardiac Resynchronization Therapy (CRT) Market


Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

CRT-Defibrillator (CRT-D)

CRT-Pacemaker (CRT-P)


Key Players, Recent Developments & Regional Insights: Global Cardiac Resynchronization Therapy (CRT) Market


Based on product, the CRT market has been segmented into CRT Defibrillator (CRT-D) and CRT Pacemaker (CRT-P). CRT-P was introduced first within the healthcare industry. These products are implanted below the collarbone and are connected to the heart by means of wires (leads) to the right chambers of the heart.
As of 2016, CRT-D is expected to dominate owing to their higher performance of pacing activity and ability to timely report adverse conditions, thereby limiting the death rate. Nonetheless, key players are working toward further improvement.
For instance, in 2015, LivaNova launched a new generation of their CRT products under the brand name PLATINUM. According to the company, these products are expected to provide an enhanced longevity of over 10 years.

Regional Insights
The North American region is expected to contribute the highest revenue over the forecast period due to rising approvals by the U.S. FDA for new products and increasing growth of geriatric population suffering from cardiac dysfunction. As of 2016, it held more 36.0% of the global market share.
Europe also held a substantial share and is predicted to witness lucrative growth with CAGR of more than 7.4% over the next nine years. Higher stringency being implemented by the healthcare agencies toward R&D, safety guideline follow-up, and product approvals are expected to drive the growth.
 
For instance, in December 2015, Medicines and Healthcare Products Regulatory Agency issued an action guideline for all Medtronic products, urging them to undertake follow-up of patients implanted with CRT devices within the UK. The action was ordered after the realization of the possibility of dipping of battery voltage that may render it nonfunctional.
CRT Market Share Insights
Major players of the CRT market include Medtronic, St. Jude Medical, Biotronik, LivaNova Plc., Boston Scientific, and others. Companies such as LivaNova are undertaking strategic plans such as reorganization of their business houses in order to stregthen their current position and proactively keep up with the pace of the global dynamics of the market.
Other strategies include gaining entry in new geographical segments, development of advanced products, and instilling production efficiency by hiring experienced personnel and industry experts. These are actions being taken as of 2015, expected to showcase positive impact for the CRT market in the next five years.

Key Insights Covered: Global Cardiac Resynchronization Therapy (CRT) Market
1.  North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Cardiac Resynchronization Therapy (CRT) industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Cardiac Resynchronization Therapy (CRT) industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Cardiac Resynchronization Therapy (CRT) industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Cardiac Resynchronization Therapy (CRT) industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Cardiac Resynchronization Therapy (CRT) industry.

Research Methodology: Global Cardiac Resynchronization Therapy (CRT) Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other