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Cardiac Resynchronization Therapy (CRT) Market Insights by Product Type & End-user – Global Forecast to 2024 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Cardiac
Resynchronization Therapy Market by Product Type and End User – Global
Forecast to 2024”
report has been added to ResearchAndMarkets.com’s
offering.

The CRT market is projected to reach USD 5.1 billion by 2024 from USD
4.1 billion in 2019, at a CAGR of 4.4%.

The growth of the CRT market is mainly driven by the increasing
incidence of target disease and growth in the geriatric population.
Rising investments and support, along with technological advancements,
are also contributing to the growth of the market. However, unfavorable
healthcare reforms in the US are expected to limit market growth to a
certain extent.

The CRT systems market is dominated by Medtronic (Ireland), Abbott (US),
and Boston Scientific Corporation (US). These players accounted for
~92.4% of the market in 2018. Other prominent players in the market
include MicroPort Scientific Corporation (China), BIOTRONIK (Germany),
and Medico S.p.A. (Italy).

The majority of leading players focused on product launches and
expansions to strengthen their product portfolios and customer base,
enhance their sales channels, and increase their global presence.

By product type, the cardiac resynchronization therapy
defibrillators (CRT-D) segment accounted for the largest share of the
market in 2018

On the basis of product type, the CRT market is segmented into cardiac
resynchronization therapy defibrillators (CRT-Ds) and cardiac
resynchronization therapy pacemakers (CRT-Ps). The CRT-Ds segment
accounted for the largest share of the market in 2018. This is majorly
attributed to the increasing acceptance of CRT-Ds over pacemakers and
the launch of technologically advanced devices. Furthermore, growth in
this market segment is largely driven by the increasing incidence of
target diseases.

By end user, the hospitals & cardiac centers segment is
expected to dominate the CRT market during the forecast period

On the basis of end user, the CRT market is segmented into the hospitals
& cardiac centers and ambulatory surgery centers. Hospitals & cardiac
centers accounted for the largest share of the market in 2018. The
increasing prevalence of CVD, rising number of surgical procedures
performed, favorable reimbursement scenario, and the increasing number
of critical care and intensive care units are some of the key factors
driving the growth of the hospitals & cardiac centers segment.

APAC is expected to witness the highest growth during the
forecast period

The Asia Pacific region is projected to register the highest growth rate
in the CRT systems market during the forecast period. Favorable
reimbursement scenario in Japan, the rising geriatric population in
China, rising incidence of CVDs, improving healthcare infrastructure,
growing middle-class population, and rising disposable income levels in
India are some of the key factors driving the growth of the CRT systems
market in the Asia Pacific.

Key Topics Covered

1 Introduction

1.1 Objectives of the Study

1.2 Market Definition

1.3 Market Scope

1.4 Currency

1.5 Limitations

1.6 Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Market Size Estimation

2.3 Assumptions for the Study

3 Executive Summary

4 Premium Insights

4.1 Cardiac Resynchronization Therapy Systems Market Overview

4.2 North America: Cardiac Resynchronization Therapy Systems Market, By
Type, 2018

4.3 Europe: Cardiac Resynchronization Therapy Systems Market, By Type,
2018

4.4 Cardiac Resynchronization Therapy Systems Market: Geographic Snapshot

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Increasing Incidence of Target Diseases

5.2.1.2 Growth in the Geriatric Population

5.2.1.3 Growing Investments, Funds, and Grants

5.2.1.4 Technological Advancements

5.2.1.5 MRI-Safe Device Technology

5.2.1.6 Wireless CRT

5.2.2 Restraints

5.2.2.1 Unfavorable Healthcare Reforms in the Us

5.2.3 Opportunities

5.2.3.1 Emerging Markets

5.2.4 Challenges

5.2.4.1 Shortage of Skilled Cardiac Surgeons

5.2.4.2 Product Recalls

5.2.4.3 Battery Life and Device Replacement Cost

6 Cardiac Resynchronization Therapy Systems Market, By Type

6.1 Introduction

6.2 Cardiac Resynchronization Therapy Defibrillators

6.2.1 CRT – Defibrillators Accounted for the Largest Share of the CRT
Systems Market in 2018

6.3 Cardiac Resynchronization Therapy Pacemakers

6.3.1 The CRT – Pacemakers Market Will Grow at the Highest CAGR During
the Forecast Period

7 Cardiac Resynchronization Therapy Systems Market, By End User

7.1 Introduction

7.2 Hospitals & Cardiac Centers

7.2.1 Hospital & Cardiac Centers to Dominate the End-User Market

7.3 Ambulatory Surgery Centers

7.3.1 Increasing Number of Centers in the US to Drive the Adoption of
CRT Devices

8 Cardiac Resynchronization Therapy Systems Market, By Region

8.1 Introduction

8.2 North America

8.2.1 US

8.2.1.1 Technological Advancements-A Key Factor Driving Market Growth

8.2.2 Canada

8.2.2.1 Growing Focus of Government and Private Organizations on
Providing Research Funding is Expected to Drive the Market in Canada

8.3 Europe

8.3.1 Germany

8.3.1.1 Favorable Healthcare Expenditure and Growing Use of CRT Devices
to Drive Market Growth

8.3.2 UK

8.3.2.1 Increasing Geriatric Population and Increasing Use of CRT
Devices to Drive Market Growth

8.3.3 France

8.3.3.1 Growing Use of Cardiac Resynchronization Therapy Devices for
Heart Failure to Support Market Growth

8.3.4 Italy

8.3.4.1 Increasing Incidence of CVDS to Drive the Adoption of Cardiac
Resynchronization Therapy Devices in the Country

8.3.5 Rest of Europe

8.4 Asia Pacific

8.4.1 Japan

8.4.1.1 Favourable Reimbursement Policy to Support Market Growth

8.4.2 China

8.4.2.1 Growing Geriatric Population to Drive the Market for Cardiac
Resynchronization Therapy Systems

8.4.3 India

8.4.3.1 Growing Middle-Class Population & Rising Disposable Income
Levels are Supporting the Growth of the CRT Systems Market in India

8.4.4 Rest of Asia Pacific

8.5 Rest of the World

9 Competitive Landscape

9.1 Overview

9.2 Market Share Analysis

9.2.1 Medtronic

9.2.2 Abbott Laboratories

9.2.3 Boston Scientific Corporation

9.3 Competitive Scenario

9.3.1 Product Launches and Approvals

9.3.2 Expansions

9.3.3 Acquisitions, 2017-2018

10 Company Profiles

(Business Overview, Products Offered, Recent Developments)

10.1 Medtronic PLC

10.2 Abbott Laboratories

10.3 Boston Scientific Corporation

10.4 Biotronik

10.5 Medico S.p.A.

10.6 Microport Scientific Corporation

For more information about this report visit https://www.researchandmarkets.com/r/ywbjp2

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Related
Topics: Cardiology

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