Analyst Viewpoint
Increase in prevalence of cardiovascular diseases is a crucial factor that is fueling the cardiac resynchronization therapy systems market growth. Rise in geriatric population, surge in work-related stress, and adoption of unhealthy lifestyles are primary causes for the spur in cases of heart failure and other heart-related conditions. CRT systems optimize blood flow and manage symptoms of heart failure, such as fatigue and shortness of breath, by synchronizing heart contractions.
Constant innovations and increase in research in intensive care solutions are also boosting the cardiac resynchronization therapy systems industry size. Heart-related chronic illnesses are a significant burden to national healthcare systems. Therefore, research in critical care devices and therapeutic systems to optimize and improve patient health output is essential. Prominent players operating in the global cardiac resynchronization therapy systems market are carrying out advancements in CRT implants and devices to cater to expand their product portfolio.
Cardiac Resynchronization Therapy (CRT) Systems are sophisticated medical devices used to address heart failure in patients by synchronizing the contractions of the heart's ventricles through the use of pacemakers or defibrillators.
These devices are used when disruptions in the heart's electrical signals lead to inefficient pumping and symptoms of heart failure. CRT systems improve the coordination between heart chambers, thus optimizing blood flow and the overall cardiac function.
CRT systems offer assistance in enhancing exercise capabilities, improving the probability of survival of heart failure patients, and advancing the treatment of symptoms. Recent innovations in CRT technology focus on device miniaturization, battery longevity, and personalized programming to customize treatment to individual patient needs, especially for the elderly population who are prone to several other long-term ailments.
Integration of remote monitoring abilities that allow healthcare providers to assess patient status and modify device settings from anywhere is one of the recent cardiac resynchronization therapy systems market trends that enhances patient care and reduces the need for frequent in-person visits.
Growth in prevalence of cardiovascular diseases, such as coronary artery disease and heart valve disorders, can be ascribed to factors such as surge in the global geriatric population, rise in adoption of sedentary modern lifestyle, high work-related stress, and lack of sleep that elevates the risk of obesity and diabetes.
CRT plays a pivotal role in the management of heart failure symptoms by optimizing heart contractions, thus leading to alleviation of symptoms such as fatigue and shortness of breath. Furthermore, CRT systems regulate blood flow.
These systems are used for individuals experiencing moderate to severe heart failure and not responding positively to conventional treatments. These devices are applied across diverse healthcare settings, ranging from hospitals to specialized cardiac care units.
As per the 2021 AHA Statistical Update, approximately 1.8% of the total U.S. population suffered from congestive heart failure (CHF). Researchers also estimate a 46% rise in heart failure cases by 2030, totaling more than eight million people in the U.S. According to Emory Healthcare, almost 1.4 million people in the U.S. suffering from CHF are under 60 years of age.
Innovations in intensive care research commonly focus on improving diagnostic tools, and refining treatment modalities and therapeutic devices. Investments in intensive care research are driven by the constant need for better health outcomes for patients.
Cardiovascular issues such as heart failure add substantially to the national healthcare system, fostering research expenditure to support innovative solutions for improved treatment and patient care.
According to The American Journal of Emergency Medicine, nearly 11% of the total U.S. healthcare expenditure is incurred on critical care. As per the National Center for Biotechnology Information, heart failure costs in the country are expected to reach US$ 70.0 Bn per year by 2030, with total cost of caring for patients with heart failure reaching US$ 160.0 Bn.
Thus, surge in research expenditure toward further development of intensive care units and devices to combat the potential high expenditure of critical care is creating lucrative cardiac resynchronization therapy systems market opportunities for companies operating in the landscape.
North America held the largest cardiac resynchronization therapy systems market share of the global landscape in 2022. Surge in population with cardiovascular issues and potential heart risks in the U.S. and Canada; and implementation of stringent patient safety and intensive care policies are driving market dynamics of the region.
The cardiac resynchronization therapy systems market forecast appears positive in Asia Pacific, led by the strong presence of healthcare providers, large patient pool requiring cardiologist-recommended CRT devices, and rise in awareness about cardiovascular diseases in developing countries such as China and India.
According to cardiac resynchronization therapy systems market insights, prominent manufacturers are investing substantially in the development of advanced heart failure management devices and CRT implantable devices.
Mergers, acquisitions, and close partnerships are seen as key strategies to build a better product portfolio and maintain strong position in the sector. Medtronic, Boston Scientific Corporation, Abbott, LivaNova PLC, BIOTRONIK SE & Co. KG, Asahi Kasei Medical Co., Ltd., NIHON KOHDEN CORPORATION, and Schiller AG are prominent players operating in the global industry.
These firms have been profiled in the cardiac resynchronization therapy systems market research report in terms of parameters such as company overview, product portfolio, business strategies, financial overview, and business segments.
| Attribute | Detail |
|---|---|
| Market Value in 2022 (Base Year) | US$ 4.5 Bn |
| Market Forecast Value in 2031 | US$ 6.9 Bn |
| Growth Rate (CAGR) | 4.9% |
| Forecast Period | 2023-2031 |
| Historical Data Available for | 2017-2021 |
| Quantitative Units | US$ Bn for Value |
| Market Analysis | Qualitative analysis includes drivers, restraints, opportunities, key trends, key market indicators, Porter’s Five Forces analysis, value chain analysis, and SWOT analysis. Furthermore, at the regional level, the qualitative analysis includes key trends, price trends, and key supplier analysis. |
| Competition Landscape |
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| Format | Electronic (PDF) + Excel |
| Market Segmentation |
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| Regions Covered |
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| Countries Covered |
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| Companies Profiled |
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| Customization Scope | Available upon Request |
| Pricing | Available upon Request |
It was valued at US$ 4.5 Bn in 2022
It is projected to grow at a CAGR of 4.9% from 2023 to 2031
Rise in prevalence of cardiovascular diseases and advancements in intensive care research
The cardiac resynchronization therapy defibrillator segment accounted for the largest share in 2022
North America dominated the global landscape in 2022
Medtronic, Boston Scientific Corporation, Abbott, LivaNova PLC, BIOTRONIK SE & Co. KG, Asahi Kasei Medical Co., Ltd., NIHON KOHDEN CORPORATION, and Schiller AG
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. Executive Summary: Global Cardiac Resynchronization Therapy Systems Market
4. Market Overview
4.1. Introduction
4.1.1. Product Definition
4.1.2. Industry Evolution/Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Cardiac Resynchronization Therapy Systems Market Analysis and Forecast, 2017–2031
5. Key Insights
5.1. Pipeline Analysis
5.2. Key Product/Brand Analysis
5.3. Key Mergers & Acquisitions
5.4. COVID-19 Pandemic Impact on Industry
6. Global Cardiac Resynchronization Therapy Systems Market Analysis and Forecast, by Product Type
6.1. Introduction & Definition
6.2. Key Findings/Developments
6.3. Market Value Forecast, by Product Type, 2017–2031
6.3.1. Cardiac Resynchronization Therapy Pacemaker
6.3.2. Cardiac Resynchronization Therapy Defibrillator
6.4. Market Attractiveness Analysis, by Product Type
7. Global Cardiac Resynchronization Therapy Systems Market Analysis and Forecast, by Region
7.1. Key Findings
7.2. Market Value Forecast, by Region, 2017–2031
7.2.1. North America
7.2.2. Europe
7.2.3. Asia Pacific
7.2.4. Latin America
7.2.5. Middle East & Africa
7.3. Market Attractiveness Analysis, by Region
8. North America Cardiac Resynchronization Therapy Systems Market Analysis and Forecast
8.1. Introduction
8.2. Key Findings
8.3. Market Value Forecast, by Product Type, 2017–2031
8.3.1. Cardiac Resynchronization Therapy Pacemaker
8.3.2. Cardiac Resynchronization Therapy Defibrillator
8.4. Market Value Forecast, by Country, 2017–2031
8.4.1. U.S.
8.4.2. Canada
8.5. Market Attractiveness Analysis
8.5.1. By Product Type
8.5.2. By Country
9. Europe Cardiac Resynchronization Therapy Systems Market Analysis and Forecast
9.1. Introduction
9.2. Key Findings
9.3. Market Value Forecast, by Product Type, 2017–2031
9.3.1. Cardiac Resynchronization Therapy Pacemaker
9.3.2. Cardiac Resynchronization Therapy Defibrillator
9.4. Market Value Forecast, by Country/Sub-region, 2017–2031
9.4.1. Germany
9.4.2. U.K.
9.4.3. France
9.4.4. Italy
9.4.5. Spain
9.4.6. Rest of Europe
9.5. Market Attractiveness Analysis
9.5.1. By Product Type
9.5.2. By Country/Sub-region
10. Asia Pacific Cardiac Resynchronization Therapy Systems Market Analysis and Forecast
10.1. Introduction
10.2. Key Findings
10.3. Market Value Forecast, by Product Type, 2017–2031
10.3.1. Cardiac Resynchronization Therapy Pacemaker
10.3.2. Cardiac Resynchronization Therapy Defibrillator
10.4. Market Value Forecast, by Country/Sub-region, 2017–2031
10.4.1. China
10.4.2. Japan
10.4.3. India
10.4.4. Australia & New Zealand
10.4.5. Rest of Asia Pacific
10.5. Market Attractiveness Analysis
10.5.1. By Product Type
10.5.2. By Country/Sub-region
11. Latin America Cardiac Resynchronization Therapy Systems Market Analysis and Forecast
11.1. Introduction
11.2. Key Findings
11.3. Market Value Forecast, by Product Type, 2017–2031
11.3.1. Cardiac Resynchronization Therapy Pacemaker
11.3.2. Cardiac Resynchronization Therapy Defibrillator
11.4. Market Value Forecast, by Country/Sub-region, 2017–2031
11.4.1. Brazil
11.4.2. Mexico
11.4.3. Rest of Latin America
11.5. Market Attractiveness Analysis
11.5.1. By Product Type
11.5.2. By Country/Sub-region
12. Middle East & Africa Cardiac Resynchronization Therapy Systems Market Analysis and Forecast
12.1. Introduction
12.2. Key Findings
12.3. Market Value Forecast, by Product Type, 2017–2031
12.3.1. Cardiac Resynchronization Therapy Pacemaker
12.3.2. Cardiac Resynchronization Therapy Defibrillator
12.4. Market Value Forecast, by Country/Sub-region, 2017–2031
12.4.1. GCC Countries
12.4.2. South Africa
12.4.3. Rest of Middle East & Africa
12.5. Market Attractiveness Analysis
12.5.1. By Product Type
12.5.2. By Country/Sub-region
13. Competition Landscape
13.1. Market Player - Competitive Matrix (by Tier and Size of Companies)
13.2. Market Share Analysis, by Company (2022)
13.3. Company Profiles
13.3.1. Medtronic
13.3.1.1. Company Overview
13.3.1.2. Product Portfolio
13.3.1.3. SWOT Analysis
13.3.1.4. Financial Overview
13.3.1.5. Strategic Overview
13.3.2. Boston Scientific Corporation
13.3.2.1. Company Overview
13.3.2.2. Product Portfolio
13.3.2.3. SWOT Analysis
13.3.2.4. Financial Overview
13.3.2.5. Strategic Overview
13.3.3. Abbott
13.3.3.1. Company Overview
13.3.3.2. Product Portfolio
13.3.3.3. SWOT Analysis
13.3.3.4. Financial Overview
13.3.3.5. Strategic Overview
13.3.4. LivaNova PLC
13.3.4.1. Company Overview
13.3.4.2. Product Portfolio
13.3.4.3. SWOT Analysis
13.3.4.4. Financial Overview
13.3.4.5. Strategic Overview
13.3.5. BIOTRONIK SE & Co. KG
13.3.5.1. Company Overview
13.3.5.2. Product Portfolio
13.3.5.3. SWOT Analysis
13.3.5.4. Financial Overview
13.3.5.5. Strategic Overview
13.3.6. Asahi Kasei Medical Co., Ltd.
13.3.6.1. Company Overview
13.3.6.2. Product Portfolio
13.3.6.3. SWOT Analysis
13.3.6.4. Financial Overview
13.3.6.5. Strategic Overview
13.3.7. NIHON KOHDEN CORPORATION
13.3.7.1. Company Overview
13.3.7.2. Product Portfolio
13.3.7.3. SWOT Analysis
13.3.7.4. Financial Overview
13.3.7.5. Strategic Overview
13.3.8. Schiller AG
13.3.8.1. Company Overview
13.3.8.2. Product Portfolio
13.3.8.3. SWOT Analysis
13.3.8.4. Financial Overview
13.3.8.5. Strategic Overview
List of Tables
Table 01: Global Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Product Type, 2017–2031
Table 02: Global Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Region, 2017–2031
Table 03: North America Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Country, 2017–2031
Table 04: North America Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Product Type, 2017–2031
Table 05: Europe Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 06: Europe Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Product Type, 2017–2031
Table 07: Asia Pacific Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 08: Asia Pacific Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Product Type, 2017–2031
Table 09: Latin America Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 10: Latin America Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Product Type, 2017–2031
Table 11: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 12: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Product Type, 2017–2031
List of Figures
Figure 01: Global Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) and Distribution (%), by Region, 2022 and 2031
Figure 02: Global Cardiac Resynchronization Therapy Systems Market Revenue (US$ Mn), by Product Type, 2022
Figure 03: Global Cardiac Resynchronization Therapy Systems Market Value Share, by Product Type, 2022
Figure 04: Global Cardiac Resynchronization Therapy Systems Market Value Share, by Region, 2022
Figure 05: Global Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast, 2023–2031
Figure 06: Global Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2022 and 2031
Figure 07: Global Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type, 2023-2031
Figure 08: Global Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Region, 2022 and 2031
Figure 09: Global Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Region, 2023-2031
Figure 10: North America Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031
Figure 11: North America Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Country, 2023–2031
Figure 12: North America Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Country, 2022 and 2031
Figure 13: North America Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2022 and 2031
Figure 14: North America Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type, 2023–2031
Figure 15: Europe Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031
Figure 16: Europe Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Country/Sub-region, 2023–2031
Figure 17: Europe Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Country/Sub-region, 2022 and 2031
Figure 18: Europe Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2022 and 2031
Figure 19: Europe Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type, 2023–2031
Figure 20: Asia Pacific Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031
Figure 21: Asia Pacific Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Country/Sub-region, 2023–2031
Figure 22: Asia Pacific Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Country/Sub-region, 2022 and 2031
Figure 23: Asia Pacific Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2022 and 2031
Figure 24: Asia Pacific Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type, 2023–2031
Figure 25: Latin America Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031
Figure 26: Latin America Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Country/Sub-region, 2023–2031
Figure 27: Latin America Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Country/Sub-region, 2022 and 2031
Figure 28: Latin America Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2022 and 2031
Figure 29: Latin America Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type, 2023–2031
Figure 30: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031
Figure 31: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Country/Sub-region, 2023–2031
Figure 32: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Country/Sub-region, 2022 and 2031
Figure 33: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2022 and 2031
Figure 34: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type, 2023–2031
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Cardiac Resynchronization Therapy Systems Market
*86 figures and 60 tables includes