Impact of COVID-19 on Cardiac Resynchronization Therapy Market, Size and Forecast 2025

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Market Forecast

The Global Cardiac Resynchronization Therapy Market is expected to cross USD 4.7 Million by 2025 at a CAGR of 5.5%.The increasing prevalence rate of cardiac diseases followed by, rising demand for invasive techniques, fueling market growth. Cardiac disease is the leading cause of death for US population. In 2018, it was estimated that 2,300 people died in America per day due to cardiovascular diseases. Also, around 92.1 million American adult population are living with some form of cardiac disease or the aftereffects of the stroke.Cardiac diseases are most common in low- and middle-income countries and these disorders.

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Market Influencer

Increasing awareness of cardiac resynchronization therapy (CRT) devices and favorable government regulation towards reimbursement scenario.Increasing sedentary lifestyle - leading a sedentary lifestyle is a major public health issue, it is increasingly spreading in many nations irrespective of being linked to various type of chronic health conditions.

Rising geriatric population

Rising investments in the healthcare sector - In 2016, the expenditure of US on medical and health research and development (R&D) was around USD 171.8 billion, and US healthcare expenditure was USD 3482.2 billion.

Increasing technologically advances in medical devices

The rising number of surgical procedures

The growing number of intensive care units

Market Restraints

The high cost of therapy - In 2017, the initial cost of cardiac resynchronization therapy pacemaker (CRT-P) is USD 16,218.44 and USD 36,263.73 of cardiac resynchronization therapy defibrillator (CRT-D).

Segmentation

By Application

Intraventricular dyssynchrony: This segment holds the largest share because majority of the patients are estimated to be suffering from intraventricular dyssynchrony due to heart failure and left bundle branch block.Interventricular (V-V) dyssynchrony: This segment holds the second largest segment of the market. V-V dyssynchrony occurs when there is interruption or delay between the right ventricle and left ventricle activation.Atrioventricular (A-V) dyssynchrony: The A-V dyssynchrony occurs due to atrial and ventricle contraction, which can result in shortened ventricle filling time and mispositioning of atrial contraction.

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By Type

Cardiac resynchronization therapy pacemaker (CRT-P): This segment holds the highest market share. In 2019, a study showed patients using CRT-P had 33% of death rate out of 135 patients.Cardiac resynchronization therapy defibrillator (CRT-D): This segment is not as popular as CRT-D, the study shows patients using this therapy has more risk of heart failure as in year 2019, out of 135 non-ischemic cardiomyopathy patients 43% of people died.

By End-User

Hospitals: The largest segment, hospitals and clinics are usually the primary points for diagnosis, treatment, and rehabilitation of individuals afflicted with cardiac resynchronization therapy. Growing awareness and increasing efficiency of musculoskeletal system disorder treatment are projected to drive the growth of this segment during the forecast period.Cardiac Specialty Centers: A small segment, these centers provide immediate pain relief and rudimentary surgical care.

Academic and Research Organizations: This segment includes home care and senior citizen centers.

By Region

Americas: The largest regional market, the prevalence of cardiac resynchronization therapy is high in the Americas; the region also has a well-established healthcare industry.Europe: An increasing geriatric population is leading to a rise in the number of musculoskeletal system disorder cases.Asia-Pacific: The fastest-growing regional market, Asia-Pacific is seeing a surge in the number of people afflicted with cardiac resynchronization therapy due to bad posture brought on by lifestyle changes, aging, and genetic predisposition.

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Middle East & Africa: The smallest market due to limited healthcare infrastructure and a very young population.

Key Players

Medtronic

Abbott

BIOTRONIK, Inc.

Boston Scientific Corporation

Lepu Medical Technology Co., Ltd.

Medico S.p.A.

MicroPort Scientific Corporation

Shree Pacetronix Ltd

Others

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