
Cardiac Resynchronization Therapy Market Size, Share & Trends Analysis Report By Product (CRT-defibrillator, CRT-pacemaker), By End User (Hospitals, Cardiac Centers), By Region, And Segment Forecasts, 2022 - 2030
Description
Cardiac Resynchronization Therapy Market Growth & Trends
The global cardiac resynchronization therapy market size is anticipated to reach USD 10.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 7.3% over the forecast period. The key factors driving the market include constant product advancements, growing initiatives by key companies, and increasing product adoption by end-users. The market was significantly impacted by the COVID-19 pandemic. Some of the major impacts of the pandemic on the market include supply chain disruptions, fall in sales, demand slowdown due to cancellation of elective procedures, and operational hurdles. For instance, Abbott, a market leader in the cardiac rhythm management device industry, reported a decline in revenue growth of the cardiovascular business in 2020.
Boston Scientific also reported a decline in sales growth across all regions in 2020. By Q3 2021, the company’s sales recovered gradually with the cardiac rhythm management segment accounting for USD 1.5 billion in total revenue. Medtronic also reported a negative impact of the COVID-19 pandemic on its fourth-quarter financial results ending April 24, 2020. The company was impacted by postponed elective and semi-elective procedures that use Medtronic products. The reluctance of people to undergo non-COVID-19 emergency procedures affected the company’s emergent product lines. However, by 2021, the company returned to positive sales growth.
Its cardiac & rhythm management portfolio sales grew by 11% during a 6-month year-on-year period ending in October 2021. Constant product advancements and initiatives by key market players are expected to propel market growth in the coming years. For instance, in May 2017, Medtronic received FDA clearance for its MR-Conditional Quadripolar CRT-Ps. This extended the company’s lineup. In April 2018, MicroPort acquired the cardiac rhythm management portfolio from LivaNova PLC, including Platinum CRT-Ds and Reply CRT-Ps. This established MicroPort CRM as the fifth-largest CRM business globally. In addition, the company strengthened its market position by becoming the market leader in the CRM segment in China.
Cardiac Resynchronization Therapy Market Report Highlights
Abbott
Boston Scientific Corp.
Medtronic
Biotronik Se & Co. KG
Microport Scientific Corp.
Please note The report will be delivered in 2-3 business days upon order notification.
The global cardiac resynchronization therapy market size is anticipated to reach USD 10.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 7.3% over the forecast period. The key factors driving the market include constant product advancements, growing initiatives by key companies, and increasing product adoption by end-users. The market was significantly impacted by the COVID-19 pandemic. Some of the major impacts of the pandemic on the market include supply chain disruptions, fall in sales, demand slowdown due to cancellation of elective procedures, and operational hurdles. For instance, Abbott, a market leader in the cardiac rhythm management device industry, reported a decline in revenue growth of the cardiovascular business in 2020.
Boston Scientific also reported a decline in sales growth across all regions in 2020. By Q3 2021, the company’s sales recovered gradually with the cardiac rhythm management segment accounting for USD 1.5 billion in total revenue. Medtronic also reported a negative impact of the COVID-19 pandemic on its fourth-quarter financial results ending April 24, 2020. The company was impacted by postponed elective and semi-elective procedures that use Medtronic products. The reluctance of people to undergo non-COVID-19 emergency procedures affected the company’s emergent product lines. However, by 2021, the company returned to positive sales growth.
Its cardiac & rhythm management portfolio sales grew by 11% during a 6-month year-on-year period ending in October 2021. Constant product advancements and initiatives by key market players are expected to propel market growth in the coming years. For instance, in May 2017, Medtronic received FDA clearance for its MR-Conditional Quadripolar CRT-Ps. This extended the company’s lineup. In April 2018, MicroPort acquired the cardiac rhythm management portfolio from LivaNova PLC, including Platinum CRT-Ds and Reply CRT-Ps. This established MicroPort CRM as the fifth-largest CRM business globally. In addition, the company strengthened its market position by becoming the market leader in the CRM segment in China.
Cardiac Resynchronization Therapy Market Report Highlights
- Rapid technological advancements are among the key trends driving market growth. Increasing geriatric population, sedentary lifestyles, and rapidly increasing prevalence of Cardiovascular Diseases (CVDs) are also stimulating the market growth
- The CRT-D product segment dominated the market in 2021 owing to the high adoption and wider application scope of these devices
- The CRT-P segment is projected to grow at the fastest CAGR over the forecast period owing to the growing indications and high prevalence of heart failure across the globe
- The hospital end-user segment held the largest market share in 2021 as these facilities are the main point of care for CRT device implantation post-diagnosis
- Furthermore, hospitals offer multiple reimbursement facilities for surgery, consultation, treatment, and more, thus driving the product adoption and leading to a higher footfall of patients
Abbott
Boston Scientific Corp.
Medtronic
Biotronik Se & Co. KG
Microport Scientific Corp.
Please note The report will be delivered in 2-3 business days upon order notification.
Table of Contents
106 Pages
- Chapter 1 Research Methodology & Scope
- 1.1 Market Segmentation & Scope
- 1.1.1 Estimates And Forecast Timeline
- 1.2 Research Methodology
- 1.3 Information Procurement
- 1.3.1 Purchased Database
- 1.3.2 GVR’s Internal Database
- 1.3.3 Secondary Sources
- 1.3.4 Primary Research
- 1.3.5 Details Of Primary Research
- 1.4 Information Or Data Analysis
- 1.4.1 Data Analysis Models
- 1.5 Market Formulation & Validation
- 1.6 Model Details
- 1.6.1 Commodity Flow Analysis
- 1.7 List Of Secondary Sources
- 1.8 Report Objectives
- Chapter 2 Executive Summary
- 2.1 Cardiac Resynchronization Therapy (CRT) Market Outlook, 2017 - 2030 (USD Million)
- 2.2 Cardiac Resynchronization Therapy (CRT) Market Summary, 2021
- Chapter 3 Cardiac Resynchronization Therapy (CRT) Market Variables, Trends & Scope
- 3.1 Market Lineage Outlook
- 3.1.1 Parent Market Outlook
- 3.1.2 Ancillary Market Outlook
- 3.2 Penetration & Growth Prospect Mapping
- 3.3 Cardiac Resynchronization Therapy (CRT) Market Dynamics
- 3.3.1 Market Driver Analysis
- 3.3.1.1 Increasing Prevalence Of Cardiovascular Diseases
- 3.3.1.2 Technological Advancements
- 3.3.1.3 Rising Sedentary Lifestyle
- 3.3.1.4 Increasing Geriatric Population
- 3.3.2 Market Restraint Analysis
- 3.3.2.1 Product Recall
- 3.3.2.2 High Cost Of Device
- 3.4 Regulatory Framework
- 3.4.1 North America
- 3.4.2 Europe
- 3.4.3 Apac
- 3.4.4 Latam
- 3.4.5 Mea
- 3.5 Cardiac Resynchronization Therapy (CRT): Market Analysis Tools
- 3.5.1 Industry Analysis - Porter’s
- 3.5.1.1 Bargaining Power Of Suppliers: Low
- 3.5.1.2 Bargaining Power Of Buyers: Low
- 3.5.1.3 Threat Of Substitutes: High
- 3.5.1.4 Threat Of New Entrants: Low
- 3.5.1.5 Competitive Rivalry: Moderate
- 3.5.2 Cardiac Resynchronization Therapy (CRT) - SWOT Analysis, By Factor (Political & Legal, Economic, And Technological)
- 3.5.2.1 Political & Legal Landscape
- 3.5.2.2 Economic Landscape
- 3.5.2.3 Social Landscape
- 3.5.2.4 Technology Landscape
- Chapter 4 COVID-19 Impact Analysis
- 4.1 Disease Prevalence Analysis
- 4.2 COVID-19 Impact And Future Scenario
- 4.3 Impact On Market Players
- 4.3.1 Medtronic
- 4.3.2 Abbott
- Chapter 5 Cardiac Resynchronization Therapy (CRT) Market: Product Estimates & Trend Analysis
- 5.1 Product Market Share Analysis, 2021 & 2030
- 5.2 Product Dashboard
- 5.3 CRT-D
- 5.3.1 CRT-D Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 5.4 CRT-P
- 5.4.1 CRT-P Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- Chapter 6 Cardiac Resynchronization Therapy (CRT) Market: End-Use Estimates & Trend Analysis
- 6.1 End-Use Market Share Analysis, 2021 & 2030
- 6.2 End-Use Dashboard
- 6.3 Hospital
- 6.3.1 Hospital Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 6.4 Cardiac Centers
- 6.4.1 Cardiac Centers Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 6.5 Others
- 6.5.1 Other End-Users Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- Chapter 7 Cardiac Resynchronization Therapy (CRT) Market: Regional Estimates & Trend Analysis, By Product, And End Use
- 7.1 Regional Market Snapshot
- 7.2 Region Market Share Analysis, 2021 & 2030
- 7.3 North America
- 7.3.1 North America Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.3.2 U.S.
- 7.3.2.1 U.S. Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.3.3 Canada
- 7.3.3.1 Canada Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.4 Europe
- 7.4.1 Europe Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.4.2 UK
- 7.4.2.1 UK Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.4.3 Germany
- 7.4.3.1 Germany Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.4.4 France
- 7.4.4.1 France Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.4.5 Italy
- 7.4.5.1 Italy Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.4.6 Spain
- 7.4.6.1 Spain Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.5 Asia Pacific
- 7.5.1 Asia Pacific Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.5.2 Japan
- 7.5.2.1 Japan Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.5.3 China
- 7.5.3.1 China Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.5.4 India
- 7.5.4.1 India Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.5.5 Australia
- 7.5.5.1 Australia Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.5.6 South Korea
- 7.5.6.1 South Korea Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.6 Latin America
- 7.6.1 Latin America Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.6.2 Mexico
- 7.6.2.1 Mexico Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.6.3 Brazil
- 7.6.3.1 Brazil Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.6.4 Argentina
- 7.6.4.1 Argentina Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.7 Middle East & Africa (MEA)
- 7.7.1 MEA Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.7.2 South Africa
- 7.7.2.1 South Africa Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.7.3 Saudi Arabia
- 7.7.3.1 Saudi Arabia Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.7.4 UAE
- 7.7.4.1 UAE Cardiac Resynchronization Therapy (CRT) Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- Chapter 8 Competitive Landscape
- 8.1 Company Profiles
- 8.1.1 Abbott
- 8.1.1.1 Company overview
- 8.1.1.2 Product benchmarking
- 8.1.1.3 Financial performance
- 8.1.1.4 Strategic initiatives
- 8.1.2 Boston Scientific Corp.
- 8.1.2.1 Company overview
- 8.1.2.2 Product benchmarking
- 8.1.2.3 Financial performance
- 8.1.2.4 Strategic initiatives
- 8.1.3 Medtronic
- 8.1.3.1 Company overview
- 8.1.3.2 Product benchmarking
- 8.1.3.3 Financial performance
- 8.1.3.4 Strategic initiatives
- 8.1.4 Biotronik Se & Co. KG
- 8.1.4.1 Company overview
- 8.1.4.2 Product benchmarking
- 8.1.4.3 Financial performance
- 8.1.4.4 Strategic initiatives
- 8.1.5 Microport Scientific Corp.
- 8.1.5.1 Company overview
- 8.1.5.2 Product benchmarking
- 8.1.5.3 Financial performance
- 8.1.5.4 Strategic initiatives
- 8.2 Market Participation Categorization
- 8.3 Company Market Position Analysis
- 8.4 Major Deals & Strategic Alliances Analysis
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