Cardiac Resynchronization Therapy Systems Market: Snapshot

Heart failure is one of the most common chronic condition in which pumping action of our heart is affected. Improper contraction and relaxation of heart muscles renders it unable to pump blood efficiently. Prevalence of heart failure is expected to increase exponentially worldwide due to change in lifestyle and various factors such as malnutrition, genetic mutations, and others. Globally 26 million people are affected by heart failure.  Cardiac resynchronization therapy (CRT) systems are used to treat conditions such as heart failure. The global cardiac resynchronization therapy systems market was valued approximately US$ 3.1 Bn in 2016 and is anticipated to register CAGR of over 5.3% from 2017 to 2025 to reach value of approximately US$ 4.8 Bn by 2025.  There are two types of cardiac resynchronization therapy devices; cardiac resynchronization therapy pacemaker and cardiac resynchronization therapy defibrillator. The cardiac resynchronization therapy system device works by resynchronizing the contractions of heart ventricles by sending the electrical signals to the heart muscle. The cardiac resynchronization therapy devices have been evolved from pacemaker technology. This therapy has significantly reduce the mortality rate caused due to heart failure. Due to use of cardiac resynchronization therapy for treatment of heart failure patients, there are lower number of deaths occurring as a result of sudden cardiac arrest in heart failure patients.

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Cardiac Resynchronization Therapy Systems Market: Segment outlook

The global cardiac resynchronization therapy systems market has been segmented based on product type and geography. Considering the product type the global Cardiac Resynchronization Therapy Systems Market is classified in to major segments- Cardiac Resynchronization Therapy Pacemaker and Cardiac Resynchronization Therapy Defibrillator. In 2016 cardiac resynchronization therapy defibrillator accounted for the major market share in terms of revenue. Growth in incidence of heart failure cases and development of innovative technology for cardiac resynchronization is likely to drive the market during forecast period. Moreover, technological advancements foster the growth of the global cardiac resynchronization therapy systems market. There is a growing need for MRI-compatible pacemakers in the market. Development of MRI-compatible technology and increasing regulatory approvals would fulfill the unmet needs of patients and propel the cardiac resynchronization therapy systems market growth during the forecast period.

Cardiac Resynchronization Therapy Systems Market: Regional outlook

Geographically, the cardiac resynchronization therapy systems market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America contributed for the largest share of 43.0% of the global cardiac resynchronization therapy systems market in 2016, followed by Europe with 30.4% market share. This is attributed to developed economy and advanced health care infrastructure coupled with awareness of population regarding the treatment of heart failure and associated diseases. In North America and Europe the cardiac resynchronization therapy defibrillator segment of cardiac resynchronization therapy systems market contributes the maximum share.  Asia Pacific may show a promising market for the cardiac resynchronization therapy systems business because of increasing population and increasing healthcare facilities and developing economy. Additionally the Asia pacific, is focusing on increasing cardiac care clinics which will be driving the market during forecast period. Apart from Asia-Pacific, growth in the Middle-East and Latin American market is also encouraging the manufacturers to expand their business in this geography. The impact of business of cardiac resynchronization therapy systems in the emerging markets is expected to be high throughout the forecast period.

In the global Cardiac Resynchronization Therapy Systems Market the major operating players are Medtronic, Boston Scientific Corporation, Abbott, LivaNova PLC, BIOTRONIK SE & Co. KG and others. These players are adopting organic and in-organic growth strategies to expand their product offerings, strengthen their geographical reach, increase customer base and garner market share. For instance, Abbott has successfully completed the acquisition of St. Jude Medical, Inc. on 4th January 2017. This acquisition strengthens the Cardiac Rhythm Management product portfolio. These are the major players of Cardiac Resynchronization Therapy Systems Market and exhibit the largest geographical outreach with presence of range of worldwide.

Global Cardiac Resynchronization Therapy Systems Market: Scope and Methodology

This report on the global Cardiac Resynchronization Therapy Systems Market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments.

The research is a combination of primary and secondary research. Primary research formed the bulk of our research efforts along with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment and sub-segment for the period from 2017 to 2025, considering the macro and micro environmental factors. Growth rates for each segment within the global diabetes devices market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.

A detailed qualitative analysis of factors responsible for driving and restraining market growth and future opportunities has been provided in the market overview section. This section of the report also includes market attractiveness analysis that provides a thorough analysis of the overall competitive scenario in the global diabetes devices market.

Market revenue in terms of US$ Mn for the period between 2015 and 2025 along with the compound annual growth rate (CAGR %) from 2017 to 2025 are provided for all the segments, considering 2016 as the base year. Market size estimations involved in-depth study of various segments of global Cardiac Resynchronization Therapy Systems Market.

Cardiac Resynchronization Therapy Systems Market: Segmentation

Prevalence of heart failure is expected to increase exponentially worldwide due to change in lifestyle and various factors such as malnutrition, genetic mutations, and others. According to various government and private organizations operating in the cardiovascular industry, heart failure is considered one of the top reasons of mortality worldwide. Globally 26 million people are affected by heart failure.  Cardiac resynchronization therapy (CRT) systems are used to treat conditions such as heart failure. The global Cardiac Resynchronization Therapy Systems Market can be segmented based on product type and region.

Depending on the product type the global Cardiac Resynchronization Therapy Systems Market includes - Cardiac Resynchronization Therapy Pacemaker and Cardiac Resynchronization Therapy Defibrillator. Cardiac resynchronization therapy pacemaker (CRT-P) also known as bi ventricular pacing is an implantable cardiac resynchronization therapy (CRT) pacemaker for patients with heart failure. The device monitors the heart's rhythm, detects irregularities and corrects them with electrical impulses. Cardiac resynchronization therapy defibrillator (CRT-D) is implanted in heart failure patients who are at a high risk of sudden cardiac arrest.

Cardiac Resynchronization Therapy Systems Market: Geographical and Competitive Dynamics

Geographically, the global Cardiac Resynchronization Therapy Systems Market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, the regions have been further segmented by major countries from each region.

The report also profiles major players in the Cardiac Resynchronization Therapy Systems Market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include Medtronic, Boston Scientific Corporation, Abbott, LivaNova PLC, BIOTRONIK SE & Co. KG

The global Cardiac Resynchronization Therapy Systems Market is segmented as follows:

Global Cardiac Resynchronization Therapy Systems Market Revenue, by Product type

  • Cardiac Resynchronization Therapy Pacemaker
  • Cardiac Resynchronization Therapy Defibrillator

Global Cardiac Resynchronization Therapy Systems Market Revenue, by Geography

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • UK
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Middle East and Africa
    • GCC countries
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
.