The U.S. Cardiac Resynchronization Therapy market size was valued at US$ 983.3 Million in 2021 and is expected to hit US$ 1.45 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.1% from 2022 to 2030.
The U.S. Cardiac Resynchronization Therapy market size was valued at US$ 983.3 Million in 2021 and is expected to hit US$ 1.45 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.1% from 2022 to 2030.
Key Takeaways:
- The study provides an in-depth analysis of the U.S. cardiac resynchronization therapy market size along with the current trends and future estimations to elucidate the imminent investment pockets
- It offers market analysis from 2021 to 2030, which is expected to enable stakeholders to capitalize on the prevailing opportunities in the U.S. cardiac resynchronization therapy market
- A comprehensive analysis on country assists to understand the country market and facilitate the strategic business planning and determine prevailing opportunities
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the U.S. cardiac resynchronization therapy market growth
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Growth Factors:
Cardiac resynchronization therapy (CRT) is a treatment to assist heart beat with the right rhythm. It uses a pacemaker to restore the normal timing pattern of the heartbeat. CRT is a procedure to implant a device in the chest to make patient's heart's chambers squeeze (contract) efficiently. Cardiac resynchronization therapy is traditionally a treatment for patients who experience heart failure and then develop an arrhythmia. Cardiac resynchronization therapy finds applications in the intraventriculardyssynchrony, interventriculardyssynchrony, and atrioventriculardyssynchrony.
Factors that drive the growth of the CRT market include surge in elderly population, rise in prevalence of cardiovascular diseases (CVDs), increase in technological advances in the CRT pacemakers and CRT defibrillators, and surge in healthcare expenditure in the U.S. For instance, as per the statistics published by Centers for Disease Control and Prevention (CDC), about 6.2 million adults in the U.S. have heart failure. One patient dies every 36 seconds in the U.S. from cardiovascular disease. Heart disease is the leading cause of death for men, women, and individuals of most racial and ethnic groups in the country. Furthermore, around 655,000 Americans die from heart disease each year, which is one in every four deaths.
On the contrary, high cost of CRT therapy as well as the presence of stringent regulations for CRT devices in the U.S. are anticipated to restrain the U.S. cardiac resynchronization therapy market growth during the forecast period.
U.s. Cardiac Resynchronization Therapy Market Segmentation
The U.S. cardiac resynchronization therapy market is categorized into type, application, and end user. On the basis of type, the market is segmented into CRT pacemaker and CRT defibrillator. CRT pacemaker was introduced first within the healthcare industry in 1994. Pacemaker is a small electronic device, implanted below the collarbone and are connected to the heart through wires (leads) to the right chambers of the heart. The CRT defibrillator segment led the market in 2019, and is expected to continue this trend throughout the forecast period attributed to an increase in adoption of CRT defibrillators over CRT pacemakers as well as the launch of technologically advanced CRT defibrillators.
On the basis of application, the U.S. cardiac resynchronization therapy market is classified into intraventriculardyssynchrony, interventriculardyssynchrony, and atrioventriculardyssynchrony. Interventriculardyssynchrony refers to the discordance between the times of right ventricular (RV) and left ventricular (LV) contraction, or delay in segmental wall motion. Intraventriculardyssynchrony is the principal factor responsible for contractile dysfunction, the one most affected by and most predictive of response to resynchronization therapy. The intraventriculardyssynchrony segment spearheaded the market in 2019 in terms of revenue attributed to comparatively higher incidence of intraventriculardyssynchrony among patients with heart failure and left bundle branch block
Report Scope of the U.S. Cardiac Resynchronization Therapy Market
|
Report Coverage |
Details |
|
Market Size in 2021 |
USD 983.3 Million |
|
Revenue Projection By 2030 |
USD 1.45 billion |
|
Growth Rate |
CAGR of 5.1% from 2022 to 2030 |
|
Base Year |
2021 |
|
Historical data |
2017 - 2020 |
|
Forecast Period |
2022 to 2030 |
|
Segments Covered |
Type, Application, End User |
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On the basis of end user, the U.S. cardiac resynchronization therapy market is classified into hospitals, ambulatory surgical centers, and specialized cardiac treatment centers. Being the primary point for diagnosis and treatment of cardiovascular disease coupled with rise in adoption of cardiac resynchronization therapy devices in the hospital settings, the hospital segment is anticipated to witness supremacy throughout the review period.
The cardiac resynchronization therapy market is highly competitive in nature, as major players in this vertical are concentrating on growth strategies such as product launches, mergers and acquisitions (M&As), partnerships and collaborations to gain competitive advantage. For instance, in January 2020, Medtronic plc received CE Mark (Europe) for its Cobalt and Crome portfolio of implantable cardioverter-defibrillators (ICD) and cardiac resynchronization therapy-defibrillators (CRT-D). ICDs monitor heart rhythms and deliver therapy to correct heart rates that are too fast and can lead to sudden cardiac arrest. Cobalt and Crome heart devices deliver the opportunity of a personalized approach to defibrillator therapy. In addition, in July 2020, the U.S. Food and Drug Administration (USFDA) has approved Abbott's next-generation Gallant implantable cardioverter defibrillator and cardiac resynchronization therapy defibrillator devices in the U.S. These devices provide efficient battery longevity and MRI compatibility. In addition, the new devices offer Bluetooth technology and a new patient smartphone app for improved remote monitoring, allowing for increased patient/physician engagement and streamlined communications.
Some of the prominent players in the Cardiac Resynchronization Therapy market include:
- ABBOTT LABORATORIES
- BOSTON SCIENTIFIC CORPORATION
- BIOTRONIK SE & CO. KG
- LIVANOVA PLC
- LEPU MEDICAL TECHNOLOGY (BEIJING) CO., LTD.
- MEDTRONIC PLC
- MICROPORT SCIENTIFIC CORPORATION
- MEDICO S.P.A.
- OSCOR INC.
- OSYPKA MEDICAL GmbH
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at U.S. for the period of 2017 to 2030
- By Type
- CRT Pacemaker
- CRT Defibrillator
- By Application
- IntraventricularDyssynchrony
- InterventricularDyssynchrony
- AtrioventricularDyssynchrony
- By End User
- Hospitals
- Ambulatory Surgical Centers
- Specialized cardiac treatment centers
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Key Questions Answered in U.S. Cardiac Resynchronization Therapy Market Report
- What will be the sales/revenue generated by U.S. Cardiac Resynchronization Therapy across all regions during the forecast period?
- What are the opportunities in the U.S. Cardiac Resynchronization Therapy market?
- What are the major drivers, restraints, opportunities, and threats in the market?
- Which regional market is set to expand at the fastest CAGR during the forecast period?
- Which application is expected to generate the highest revenue U.S. in 2030?
- Which segment is projected to expand at the highest CAGR during the forecast period?
- What is the market position of different companies operating in the U.S. market?
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