Global Cardiac Resynchronization Therapy Market Size, Share, Trends, Industry Growth by Product (CRT-Defibrillator, CRT-Pacemaker), by End-Use (Hospital, Cardiac Center, Others), by Region, and Forecast to 2030

Report ID: RC17020 | Report Format: PDF + Excel | Starting Price: 2520/- USD | Last Updated: June 30th, 2023

The global cardiac resynchronization therapy market size was estimated at over USD 4 billion in 2022 an expected to register a significant CAGR of ~ 5% during the forecast period from 2023 to 2030. The increasing prevalence of cardiovascular disorders coupled with the growing geriatric population around the world is a major factor driving the market growth. Furthermore, the growing product development and the increasing research & development activities are further anticipated to fuel the industry growth. Moreover, the growing technological advancement and development in cardiac resynchronization therapy are anticipated to boost the market over the forecast period.

Market Drivers:

Increasing Prevalence of Heart Failure: Heart failure is a significant health concern worldwide, with a growing prevalence due to factors such as aging populations, lifestyle changes, and an increase in risk factors such as obesity and diabetes. Cardiac resynchronization therapy has emerged as an effective treatment option for heart failure patients, especially those with left ventricular dysfunction. The rising prevalence of heart failure has contributed to the increased demand for CRT, driving market growth.

Improved Clinical Outcomes: Cardiac resynchronization therapy has demonstrated significant clinical benefits in heart failure patients. It improves symptoms, quality of life, and exercise tolerance, and reduces hospitalizations and mortality rates. The robust clinical evidence supporting the efficacy of CRT has led to its widespread adoption and increased demand, driving the growth of the market.

Technological Advancements in Device Design and Functionality: Technological advancements in CRT devices have played a crucial role in market growth. Modern CRT devices have become more advanced, offering improved programming capabilities, lead designs, and synchronization algorithms. These advancements enhance the effectiveness and customization of therapy, leading to better patient outcomes and increased adoption of CRT devices.

Favorable Reimbursement Policies: The availability of favorable reimbursement policies for CRT devices and procedures has facilitated patient access and contributed to market growth. Reimbursement coverage for CRT implantation and follow-up care encourages healthcare providers and patients to opt for this therapy, driving market demand.

Growing Aging Population: The global aging population has increased the prevalence of heart failure, making it a significant healthcare concern. Older adults are more prone to heart failure due to age-related changes in the cardiovascular system. As the aging population expands, the demand for effective treatment options such as CRT is expected to grow, driving market growth.

Increasing Awareness and Education: Increasing awareness and education about heart failure and available treatment options, including CRT, have contributed to market growth. Healthcare professionals, patient advocacy groups, and educational campaigns have focused on raising awareness about heart failure symptoms, diagnosis, and treatment, including the benefits of CRT. This increased awareness has led to improved patient identification and increased demand for CRT therapy.

Expansion of Emerging Markets: The cardiac resynchronization therapy market has witnessed growth in emerging markets due to factors such as improving healthcare infrastructure, increasing healthcare spending, and growing patient awareness. As access to healthcare improves in these regions, the demand for advanced treatment options like CRT is expected to increase, driving market growth.

Market Snapshot:

Benchmark Year 2022
Market Size > USD 4 Billion in 2022
Market Growth (CAGR) ~ 5% (2023-2030)
Largest Market Share Asia Pacific
Analysis Period 2020-2030
Market Players Medtronic, Abbott, Boston Scientific Corporation, Biotronik SE & Co., KG, and MicroPort Scientific Corporation

Market Insights:

By product, the CRT-D segment dominated the global cardiac resynchronization therapy market in the benchmark year

The global cardiac resynchronization therapy market is bifurcated into product, end-use, and geography. On the basis of product, the market is further segmented into CRT-Defibrillator and CRT-Pacemaker. The CRT-Defibrillator segment dominated the global market in 2022 and expected to hold the largest revenue share of over 2/3 market share by the end of the analysis period. on the flip side, the CRT-pacemaker segment is accounted to register the fastest CAGR over the forecast period. the rising preference for the product for heart failure patients due to its low cast as compared to CRT-D is a significant factor fueling the segment growth.

By end-use, the hospitals segment is expected to dominate the global market by 2030

On the basis of end-use, the market is segmented into hospitals, cardiac centers, and others. The hospitals segment dominated the global cardiac resynchronization therapy market in 2022 and is anticipated to hold the largest revenue share of over half of the market by the end of the analysis period. The widespread use of the CRT devices in hospitals as most of the surgeries performs in hospitals, which is a major factor driving the segment growth. On the flip side, the cardiac centers segment is estimated to grow at the highest growth rate over the forecast period. The increasing number of cardiac centers around the world coupled with the growing prevalence of the cardiovascular disease is a major factor fueling the segment growth over the forecast period.

Cardiac Resynchronization Therapy Market Size & Growth

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The cardiac resynchronization therapy comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2023 to 2030. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The cardiac resynchronization therapy market research report presents the analysis of each segment from 2020 to 2030 considering 2022 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2023 to 2030.

Historical & Forecast Period

  • 2020-21 – Historical Year
  • 2022 – Base Year
  • 2023-2030 – Forecast Period

Market Segmentation:

By Product:

  • CRT-Defibrillator
  • CRT-Pacemaker

By End-Use:

  • Hospital
  • Cardiac Center
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Regional Analysis:

By region, the Asia Pacific is expected to register the fastest CAGR over the forecast period

On the basis of region, North America dominated the global cardiac resynchronization therapy market in 2022 and is expected to maintain its dominance over the forecast period. The significant approval and the growing geriatric population are some major factors driving the market growth in the region. On the other hand, the Asia Pacific is estimated to grow at the fastest CAGR over the forecast period. The increasing investment in healthcare infrastructure, the growing aging population, and the rising prevalence of cardiovascular disorders are some major factors fueling the segment growth in the Asia Pacific.

Geographically, the cardiac resynchronization therapy market report comprises dedicated sections centering on the regional market revenue and trends. The cardiac resynchronization therapy market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The cardiac resynchronization therapy market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Cardiac resynchronization therapy market estimates have also been provided for the historical years 2020 & 2021 along with forecasts for the period from 2023 – 2030.

Competitive Assessment:

Some of the major market players operating in the global cardiac resynchronization therapy market are Medtronic, Abbott, Boston Scientific Corporation, Biotronik SE & Co., KG, and MicroPort Scientific Corporation. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

  • Medtronic
  • Abbott
  • Boston Scientific Corporation
  • Biotronik SE & Co., KG
  • MicroPort Scientific Corporation
  • Livanova plc.
  • Johnson & Johnson Services, Inc.
  • Merit Medical Systems
  • Rodman Media
  • Aetna Inc.

Key Questions Answered by Cardiac Resynchronization Therapy Market Report

  • Global cardiac resynchronization therapy market forecasts from 2023-2030
  • Regional market forecasts from 2023-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
  • Country-level forecasts from 2023-2030 covering 15 major countries from the regions as mentioned above
  • Cardiac resynchronization therapy submarket forecasts from 2023-2030 covering the market by product, end-use, and geography
  • Various industry models such as SWOT analysis, Value Chain Analysis about the market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level cardiac resynchronization therapy markets from 2023-2030
  • Competitive Landscape and market positioning of the top 10 players operating in the market
Table of Content:

1. Preface


1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

 

2. Executive Summary


2.1. Global Cardiac Resynchronization Therapy Market Portraiture
2.2. Global Cardiac Resynchronization Therapy Market, by Product, 2022 (USD Mn)
2.3. Global Cardiac Resynchronization Therapy Market, by End-Use, 2022 (USD Mn)
2.4. Global Cardiac Resynchronization Therapy Market, by Geography, 2022 (USD Mn)

 

3. Global Cardiac Resynchronization Therapy Market Analysis


3.1. Cardiac Resynchronization Therapy Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. COVID-19 Impact Analysis

 

4. Global Cardiac Resynchronization Therapy Market By Product, 2020 – 2030 (USD Mn)


4.1. Overview
4.2. CRT-Defibrillator
4.3. CRT-Pacemaker

 

5. Global Cardiac Resynchronization Therapy Market By End-Use, 2020 – 2030 (USD Mn)


5.1. Overview
5.2. Hospital
5.3. Cardiac Center
5.4. Others

 

6. North America Cardiac Resynchronization Therapy Market Analysis and Forecast, 2020 – 2030 (USD Mn)


6.1. Overview
6.2. North America Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
6.3. North America Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
6.4. North America Cardiac Resynchronization Therapy Market by Country, (2020-2030 USD Mn)
6.4.1. U.S.
6.4.1.1. U.S. Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
6.4.1.2. U.S. Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
6.4.2. Canada
6.4.2.1. Canada Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
6.4.2.2. Canada Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)

 

7. Europe Cardiac Resynchronization Therapy Market Analysis and Forecast, 2020 - 2030 (USD Mn)


7.1. Overview
7.2. Europe Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
7.3. Europe Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
7.4. Europe Cardiac Resynchronization Therapy Market by Country, (2020-2030 USD Mn)
7.4.1. Germany
7.4.1.1. Germany Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
7.4.1.2. Germany Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
7.4.2. U.K.
7.4.2.1. U.K. Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
7.4.2.2. U.K. Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
7.4.3. France
7.4.3.1. France Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
7.4.3.2. France Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
7.4.4. Spain
7.4.4.1. Spain Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
7.4.4.2. Spain Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
7.4.5. Italy
7.4.5.1. Italy Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
7.4.5.2. Italy Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
7.4.6. Rest of Europe
7.4.6.1. Rest of Europe Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
7.4.6.2. Rest of Europe Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)

 

8. Asia Pacific Cardiac Resynchronization Therapy Market Analysis and Forecast, 2020 - 2030 (USD Mn)


8.1. Overview
8.2. Asia Pacific Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
8.3. Asia Pacific Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
8.4. Asia Pacific Cardiac Resynchronization Therapy Market by Country, (2020-2030 USD Mn)
8.4.1. China
8.4.1.1. China Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
8.4.1.2. China Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
8.4.2. Japan
8.4.2.1. Japan Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
8.4.2.2. Japan Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
8.4.3. India
8.4.3.1. India Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
8.4.3.2. India Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
8.4.4. Rest of Asia Pacific
8.4.4.1. Rest of Asia Pacific Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
8.4.4.2. Rest of Asia Pacific Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)

 

9. Latin America (LATAM) Cardiac Resynchronization Therapy Market Analysis and Forecast, 2020 - 2030 (USD Mn)


9.1. Overview
9.2. Latin America Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
9.3. Latin America Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
9.4. Latin America Cardiac Resynchronization Therapy Market by Country, (2020-2030 USD Mn)
9.4.1. Brazil
9.4.1.1. Brazil Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
9.4.1.2. Brazil Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
9.4.2. Mexico
9.4.2.1. Mexico Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
9.4.2.2. Mexico Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
9.4.3. Rest of Latin America
9.4.3.1. Rest of Latin America Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
9.4.3.2. Rest of Latin America Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)

 

10. Middle East and Africa Cardiac Resynchronization Therapy Market Analysis and Forecast, 2020 - 2030 (USD Mn)


10.1. Overview
10.2. MEA Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
10.3. MEA Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
10.4. Middle East and Africa Cardiac Resynchronization Therapy Market, by Country, (2020-2030 USD Mn)
10.4.1. GCC
10.4.1.1. GCC Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
10.4.1.2. GCC Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
10.4.2. South Africa
10.4.2.1. South Africa Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
10.4.2.2. South Africa Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)
10.4.3. Rest of MEA
10.4.3.1. Rest of MEA Cardiac Resynchronization Therapy Market by Product, (2020-2030 USD Mn)
10.4.3.2. Rest of MEA Cardiac Resynchronization Therapy Market by End-Use, (2020-2030 USD Mn)

 

11. Company Profiles


11.1. Medtronic
11.1.1. Business Description
11.1.2. Financial Health and Budget Allocation
11.1.3. Product Positions/Portfolio
11.1.4. Recent Development
11.1.5. SWOT Analysis
11.2. Abbott
11.2.1. Business Description
11.2.2. Financial Health and Budget Allocation
11.2.3. Product Positions/Portfolio
11.2.4. Recent Development
11.2.5. SWOT Analysis
11.3. Boston Scientific Corporation
11.3.1. Business Description
11.3.2. Financial Health and Budget Allocation
11.3.3. Product Positions/Portfolio
11.3.4. Recent Development
11.3.5. SWOT Analysis
11.4. Biotronik SE & Co., KG
11.4.1. Business Description
11.4.2. Financial Health and Budget Allocation
11.4.3. Product Positions/Portfolio
11.4.4. Recent Development
11.4.5. SWOT Analysis
11.5. MicroPort Scientific Corporation
11.5.1. Business Description
11.5.2. Financial Health and Budget Allocation
11.5.3. Product Positions/Portfolio
11.5.4. Recent Development
11.5.5. SWOT Analysis
11.6. Livanova plc.
11.6.1. Business Description
11.6.2. Financial Health and Budget Allocation
11.6.3. Product Positions/Portfolio
11.6.4. Recent Development
11.6.5. SWOT Analysis
11.7. Johnson & Johnson Services, Inc.
11.7.1. Business Description
11.7.2. Financial Health and Budget Allocation
11.7.3. Product Positions/Portfolio
11.7.4. Recent Development
11.7.5. SWOT Analysis
11.8. Merit Medical Systems
11.8.1. Business Description
11.8.2. Financial Health and Budget Allocation
11.8.3. Product Positions/Portfolio
11.8.4. Recent Development
11.8.5. SWOT Analysis
11.9. Rodman Media
11.9.1. Business Description
11.9.2. Financial Health and Budget Allocation
11.9.3. Product Positions/Portfolio
11.9.4. Recent Development
11.9.5. SWOT Analysis
11.10. Aetna Inc.
11.10.1. Business Description
11.10.2. Financial Health and Budget Allocation
11.10.3. Product Positions/Portfolio
11.10.4. Recent Development
11.10.5. SWOT Analysis
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