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Cardiac Resynchronization Therapy Systems Market
The Global Cardiac Resynchronization Therapy Market: Summary
Some of the most significant drivers for the development and growth of the global cardiac resynchronization therapy market include rising incidence of cardiac target diseases, rising investments, grants, as well as funds aimed at furthering the research in this sector, advancements in the medical technologies, and rise in the geriatric population around the world. Types of products offered by the players and vendors within the global cardiac resynchronization therapy market include cardiac resynchronization therapy peacemaker and cardiac resynchronization therapy defibrillator. These products in the global cardiac resynchronization therapy market are used by several end users such as hospitals, cardiac centers, and ambulatory surgical centers, among others.
Continuous launches of new and innovative products as well as rising acceptance of cardiac resynchronization therapy defibrillators are also anticipated to fuel the demand in the global cardiac resynchronization therapy market in coming years. Rising incidence of target disease among elderly population is the key driver for the increased demand for cardiac resynchronization therapy defibrillator products. Some other key drivers for the global cardiac resynchronization therapy market include rising prevalence of cardiovascular diseases, presence of favorable reimbursement policies, rise in the number of intensive care as well as critical care units in hospitals, and increase in the number of surgical procedures performed around the globe.
Furthermore, some other factors positively influencing the development trajectory of the global cardiac resynchronization therapy market in coming years include rising expenditure by various countries on improving their existing health care infrastructure, increase in the disposable income among middle class population, and rising middle class population around the world. Players and manufacturers operational within the global cardiac resynchronization therapy market are engaged in gaining regulatory approvals for their new and innovative products. Medtronic received approval from the United States Food and Drug Association or FDA for their quadripolar cardiac resynchronization therapy peacemakers that enhance therapy delivery for heart failure patients in 2017. They also received the CE mark approvals for the quadripolar cardiac resynchronization therapy peacemaker products in 2017 as well. Some other growth strategies employed by players in global cardiac resynchronization therapy market include new product launches and mergers and acquisitions.
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.
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.
The global Cardiac Resynchronization Therapy Systems Market is segmented as follows:
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1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Research Approach & Methodology
4. Market Overview
4.1. Introduction
4.1.1. Product Type Definition
4.1.2. Industry Evolution / Developments
4.2. Global Diabetes Device Market Analysis and Forecasts, 2017–2025
4.3. Global Cardiac Resynchronization Therapy Systems Market Outlook
4.4. Porter’s Five Forces Analysis
4.5. Value Chain Analysis
4.6. Global Prevalence of Heart Failure
4.7. Recommendations for Cardiac Resynchronization Therapy (CRT)
4.8. Regulatory Framework
5. Market Dynamics
5.1. Drivers and Restraints Snapshot Analysis
5.2. Drivers
5.3. Restraints
5.4. Opportunities
5.5. Key Trends
6. Global Cardiac Resynchronization Therapy Systems Market Analysis, and Forecast by Product Type
6.1. Introduction & Definition
6.2. Global Cardiac Resynchronization Therapy Systems Market Analysis, by Product Type
6.2.1. Global Cardiac Resynchronization Therapy Systems Market Forecast, by Product Type
6.2.2. Cardiac Resynchronization Therapy Pacemaker
6.2.3. Cardiac Resynchronization Therapy Defibrillator
7. Global Cardiac Resynchronization Therapy Systems Market Analysis and Forecasts, By Region
7.1. Global Cardiac Resynchronization Therapy Systems Snapshot, by Country
7.2. Market Value Forecast By Region
7.3.1. North America
7.3.2. Europe
7.3.3. Asia Pacific
7.3.4. Middle East & Africa
7.3.5. Latin America
7.4. Market Attractiveness By Country/Region
8. North America Cardiac Resynchronization Therapy Systems Market Analysis and Forecast
8.1. Introduction
8.1.1. Key Trends
8.2. Market Value Forecast By Product Type , 2017–2025
8.2.1. Cardiac Resynchronization Therapy Pacemaker
8.2.2. Cardiac Resynchronization Therapy Defibrillator
8.3. Market Value Forecast By Country , 2017–2025
8.3.1. U.S.
8.3.2. Canada
8.4. Market Attractiveness Analysis
8.4.1. By Product Type
8.4.2. By Country
9. Europe Cardiac Resynchronization Therapy Systems Market Analysis and Forecast
9.1. Introduction
9.1.1. Key Trends
9.2. Market Value Forecast By Product Type , 2017–2025
9.2.1 Cardiac Resynchronization Therapy Pacemaker
9.2.2. Cardiac Resynchronization Therapy Defibrillator
9.3. Market Value Forecast By Country , 2017–2025
9.3.1. Germany
9.3.2. France
9.3.3. Italy
9.3.4. Spain
9.3.5. U.K.
9.3.6. Rest of Europe
9.4. Market Attractiveness Analysis
9.4.1. By Product Type
9.4.2. By Country
10. Asia Pacific Cardiac Resynchronization Therapy Systems Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Trends
10.2. Market Value Forecast By Product Type , 2017–2025
10.2.1. Cardiac Resynchronization Therapy Pacemaker
10.2.2. Cardiac Resynchronization Therapy Defibrillator
10.3. Market Value Forecast By Country , 2017–2025
10.3.1. China
10.3.2. Japan
10.3.3. India
10.3.4. Australia & New Zealand
10.3.5. Rest of Asia Pacific
10.4. Market Attractiveness Analysis
10.4.1. By Product Type
10.4.2. By Country
11. Middle East & Africa Cardiac Resynchronization Therapy Systems Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Trends
11.2. Market Value Forecast By Product Type, 2017–2025
11.2.1. Cardiac Resynchronization Therapy Pacemaker
11.2.2. Cardiac Resynchronization Therapy Defibrillator
11.3. Market Value Forecast By Country, 2017–2025
11.3.1. GCC Countries
11.3.2. South Africa
11.3.3. Rest of MEA
11.4. Market Attractiveness Analysis
11.4.1. By Product Type
11.4.2. By Country
12. Latin America Cardiac Resynchronization Therapy Systems Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Trends
12.2. Market Value Forecast By Product Type, 2017–2025
12.2.1. Cardiac Resynchronization Therapy Pacemaker
12.2.2. Cardiac Resynchronization Therapy Defibrillator
12.3. Market Value Forecast By Country, 2017–2025
12.3.1. Brazil
12.3.2. Mexico
12.3.3. Rest of Latin America
12.4. Market Attractiveness Analysis
12.4.1. By Product Type
12.4.2. By Country
13. Competition Landscape
13.1. Market Player – Competition Matrix (By Tier and Size of companies)
13.2. Company Profiles (Details – Overview, Financials, Recent Developments, Strategy)
13.2.1. Medtronic
13.2.1.1. Company Overview (HQ, Business Segments, Employee Strength)
13.2.1.2. Financial Overview
13.2.1.3. Product Portfolio
13.2.1.4. SWOT Analysis
13.2.1.5. Strategic Overview
13.2.2. Boston Scientific Corporation
13.2.2.1. Company Overview (HQ, Business Segments, Employee Strength)
13.2.2.2. Financial Overview
13.2.2.3. Product Portfolio
13.2.2.4. SWOT Analysis
13.2.2.5. Strategic Overview
13.2.3. Abbott
13.2.3.1. Company Overview (HQ, Business Segments, Employee Strength)
13.2.3.2. Financial Overview
13.2.3.3. Product Portfolio
13.2.3.4. SWOT Analysis
13.2.3.5. Strategic Overview
13.2.4. LivaNova PLC
13.2.4.1. Company Overview (HQ, Business Segments, Employee Strength)
13.2.4.2. Financial Overview
13.2.4.3. Product Portfolio
13.2.4.4. SWOT Analysis
13.2.4.5. Strategic Overview
13.2.5. BIOTRONIK SE & Co. KG
13.2.5.1. Company Overview (HQ, Business Segments, Employee Strength)
13.2.5.2. Financial Overview
13.2.5.3. Product Portfolio
13.2.5.4. SWOT Analysis
13.2.5.5. Strategic Overview
13.2.6. Asahi Kasei Medical Co., Ltd.
13.2.6.1. Company Overview (HQ, Business Segments, Employee Strength)
13.2.6.2. Financial Overview
13.2.6.3. Product Portfolio
13.2.6.4. SWOT Analysis
13.2.6.5. Strategic Overview
13.2.7. NIHON KOHDEN CORPORATION
13.2.7.1. Company Overview (HQ, Business Segments, Employee Strength)
13.2.7.2. Financial Overview
13.2.7.3. Product Portfolio
13.2.7.4. SWOT Analysis
13.2.7.5. Strategic Overview
13.2.8. Schiller AG
13.2.8.1. Company Overview (HQ, Business Segments, Employee Strength)
13.2.8.2. Financial Overview
13.2.8.3. Product Portfolio
13.2.8.4. SWOT Analysis
13.2.8.5. Strategic Overview
List of Tables
Table 01: Opportunity Map, 2016
Table 02: Global Prevalence of Heart Failure (2015)
Table 03: Global Cardiac Resynchronization Therapy Systems Size (US$ Mn) Forecast, by Product Type, 2015–2025
Table 04: Global Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Region, 2015–2025
Table 05: North America Cardiac Resynchronization Therapy Systems Value (US$ Mn) Forecast, by Product Type, 2015–2025
Table 06 North America Cardiac Resynchronization Therapy Systems Value (US$ Mn) Forecast, by Country/Sub-region, 2015–2025
Table 07: Europe Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast, by Product Type, 2015–2025
Table 08: Europe Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast, by Country/Sub-region, 2015–2025
Table 09: Asia Pacific Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast, by Product Type, 2015–2025
Table 10: Asia Pacific Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast, by Country/Sub-region, 2015–2025
Table 11: Latin America Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast, by Product Type, 2015–2025
Table 12: Latin America Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast, by Country/Sub-region, 2015–2025
Table 13: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast, by Product Type, 2015–2025
Table 14: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast, by Country, 2015–2025
Table 15: Medtronic, Products & Services Offered
Table 16: Medtronic Recent Developments
Table 17 :Boston Scientific Corporation, Products & Services Offered
Table 18: Boston Scientific Corporation, Recent Developments
Table 19: Abbott, Products & Services Offered
Table 20: Abbott, Recent Developments
Table 21: LivaNova PLC, Products & Services Offered
Table 22: LivaNova PLC , Recent Developments
Table 23: BIOTRONIK SE & Co. KG , Products & Services Offered
Table 24: Asahi Kasei Medical Co., Ltd., Products & Services Offered
Table 25: Asahi Kasei Medical Co., Ltd., Recent Developments and Achievements
Table 26: NIHON KOHDEN CORPORATION, Products Offered
Table 27: NIHON KOHDEN CORPORATION, Recent Developments
Table 28: Schiller, Products Offered
List of Figures
Figure 01: Global Cardiac Resynchronization Therapy Systems Market, by Product Type, Market Size (US$ Mn), 2017 (E)
Figure 02: Global Cardiac Resynchronization Therapy Systems Market Revenue (%), by Region, 2017 (E)
Figure 03: Executive Summary (2/3)
Figure 04: Executive Summary (3/3)
Figure 05: Key Industry Events and Developments
Figure 06: Global Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, 2015–2025
Figure 07: Global Cardiac Resynchronization Therapy Systems Market Value Share, by product type (2016)
Figure 08: Global Cardiac Resynchronization Therapy Systems Market Value Share, by Region (2016)
Figure 09: Global Cardiac Resynchronization Therapy Systems Market
Figure 10: Global Cardiac Resynchronization Therapy Systems Market Value Share, by product Type, 2017 and 2025
Figure 11: Global Cardiac Resynchronization Therapy Systems Market Attractiveness, by Product Type, 2017–2025
Figure 12: Global Cardiac Resynchronization Therapy Systems Market Revenue (US$ Mn) and Y-o-Y Growth (%), by CRT-P, 2015–2025
Figure 13: Global Cardiac Resynchronization Therapy Systems Market Revenue (US$ Mn) and Y-o-Y Growth (%), by CRT-D, 2015–2025
Figure 14: Global Cardiac Resynchronization Therapy Systems Snapshot, by Country (1/1)
Figure 15: Global Cardiac Resynchronization Therapy Systems Value Share, by Region, 2017 and 2025
Figure 16: Global Cardiac Resynchronization Therapy Systems Attractiveness, by Region, 2017–2025
Figure 17: North America Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast and Y-o-Y Growth (%) Projection, 2017–2025
Figure 18: North America Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2017 and 2025
Figure 19: North America Cardiac Resynchronization Therapy Systems Value Share Analysis, by Country/Sub-region, 2016 and 2025
Figure 20: North America Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type
Figure 21: North America Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Country
Figure 22: Drivers Impact Analysis for North America
Figure 23: Europe Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast and Y-o-Y Growth (%) Projection, 2017–2025
Figure 24: Europe Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2016 and 2025
Figure 25: Europe Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Country/Sub-region, 2017 and 2025
Figure 26: Europe Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type
Figure 27: Europe Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Country/Sub-region
Figure 28: Drivers Impact Analysis for Europe
Figure 29: Asia Pacific Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) and Y-o-Y Growth (%) Forecast, 2017–2025
Figure 30: Asia Pacific Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2017 and 2025
Figure 31: Asia Pacific Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Country/Sub-region, 2017 and 2025
Figure 32: Asia Pacific Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type
Figure 33: Asia Pacific Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Country
Figure 34: Drivers Impact Analysis for Asia Pacific
Figure 35: Latin America Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) and Y-o-Y Growth (%) Forecast, 2017–2025
Figure 36: Latin America Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2017 and 2025
Figure 37: Latin America Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Country/Sub-region, 2017 and 2025
Figure 38: Latin America Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type
Figure 39: Latin America Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Country/Sub-region
Figure 40: Drivers Impact Analysis for Latin America
Figure 41: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) and Y-o-Y Growth (%) Forecast, 2017–2025
Figure 42: Middle East &Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2017 and 2025
Figure 43: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Country/Sub-region, 2017 and 2025
Figure 44: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type
Figure 45: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Country/Sub-region
Figure 46: Drivers Impact Analysis for Middle East & Africa
Figure 47: Competition Matrix (1/1)
Figure 48: Competition Matrix (2/2)
Figure 49: Medtronic, R&D Spending and Sales & Distribution Spending– Company Level or Segment Level, 2015–2016
Figure 50: Medtronic, Breakdown of Net Sales, by Business Segments, 2017
Figure 51 :Medtronic, Revenue (US$ Bn) & Y-o-Y Growth (%), 2013-2017
Figure 52: Medtronic, Breakdown of Net Sales, By Region 2017
Figure 53: Boston Scientific Corporation, R&D Spending (Mn) and Sales & Distribution Spending (Mn) – Company Level or Segment Level, 2015–2016
Figure 54: Boston Scientific Corporation, Breakdown of Net Sales, by Business Segments, 2017
Figure 55 :Boston Scientific Corporation, Revenue (US$ Bn) & Y-o-Y Growth (%), 2013-2017
Figure 56:Boston Scientific Corporation, Breakdown of Net Sales, By Region 2017
Figure 57:Abbott, R&D Spending and Sales & Distribution Spending– Company Level or Segment Level, 2015–2016
Figure 58: Abbott, Breakdown of Net Sales, by Business Segments, 2017
Figure 59: Abbott, Revenue (US$ Bn) & Y-o-Y Growth (%), 2013-2017
Figure 60: Abbott, Breakdown of Net Sales, By Region 2017
Figure 61: LivaNova PLC, R&D Spending and Sales & Distribution Spending (US$ Mn)– Company Level or Segment Level, 2015–2016
Figure 62: LivaNova PLC, Breakdown of Net Sales, by Business Segments, 2017
Figure 63 : LivaNova PLC, Revenue (US$ Bn) & Y-o-Y Growth (%), 2013-2017
Figure 64: LivaNova PLC, Breakdown of Net Sales, By Region 2017
Figure 65: Asahi Kasei Medical Co., Ltd. Revenue (US$ Mn) & Y-o-Y Growth (%), 2012–2015
Figure 66: Asahi Kasei Medical Co., Ltd. R&D Intensity and Sales & Marketing Intensity Company Level, 2015–2016
Figure 67: Asahi Kasei Medical Co., Ltd. Breakdown of Net Sales, By Region (Segment Level-Connected Care & Health Informatics) 2016
Figure 68: Asahi Kasei Medical Co., Ltd. Breakdown of Net Sales, By Business Segments (Company Level) 2016
Figure 69: NIHON KOHDEN CORPORATION Revenue (US$ Mn) & Y-o-Y Growth (%), 2013–2016
Figure 70: NIHON KOHDEN CORPORATION R&D Intensity and Sales & Marketing Intensity (US$ Mn) – Company Level, 2016–2017
Figure 71: NIHON KOHDEN CORPORATION Breakdown of Net Sales, By Region (Company Level), March 31, 2017
Figure 72: NIHON KOHDEN CORPORATION Breakdown of Net Sales, By Business Segments March 31, 2017
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*86 figures and 60 tables includes