Cardiac Resynchronization Theapy Devices Market in Europe 2015-2019
About Cardiac Resynchronization Therapy Devices
According to WHO, cardiovascular diseases accounted for more than half of all deaths in the European region. The annual overall cost of cardiovascular diseases in the top five European countries is estimated to be $90.10 billion, of which 54% is attributed to healthcare costs, 24% to loss in productivity, and 22% to informal care.CRT devices are implantable devices that are used to resynchronize contractions of the heart’s ventricles by sending tiny electrical impulses to the muscles of the heart. CRT is an effective therapy for patients suffering from heart failure and arrhythmias.
Technavio's analysts forecast the cardiac resynchronization therapy devices market in Europe to grow at a CAGR of 8.09% over the period 2014-2019.
Covered in this Report
The report includes the present scenario and the growth prospects of the cardiac resynchronization therapy devices market in Europe for the period 2015-2019. The market can be segmented into two: CRT-D devices and CRT-P devices.
Technavio's report, Cardiac Resynchronization Therapy Devices Market in Europe 2015-2019, has been prepared based on in-depth market analysis with inputs from industry experts. The report covers the top seven European countries. The report also includes a discussion of the key vendors operating in this market.Key Countries
Technavio Announces the Publication of its Research Report – Cardiac Resynchronization Therapy Devices Market in Europe 2015-2019
Technavio recognizes the following companies as the key players in the Cardiac Resynchronization Therapy Devices Market in Europe: Boston Scientific, Medtronic and St. Jude Medical
Other Prominent Vendors in the market are: Biotronik, Cook Medical, Sorin Group and Spectranetics
Commenting on the report, an analyst from Technavio’s team said: “Currently, vendors are focusing on developing innovative CRT devices. To minimize manufacturing costs, companies use advanced technologies and materials to develop efficient devices and deliver better treatments to patients. For instance, Viva CRT-D by Medtronic, which received FDA approval on August 7, 2014, significantly improves response rate of treatment in individuals with heart failure. CRT devices also provide economic benefit through fewer hospitalizations and significantly improve quality of life of patients.”
According to the report, high prevalence of cardiovascular diseases and increased incidence of sudden cardiac attacks have increased the mortality rate in Europe. Government organizations are extensively conducting awareness programs to educate people about the efficient use of cardiovascular devices to prevent death from heart failure. For instance, the European Society of Cardiology, in association with 42 national heart failure working groups, initiated the global heart failure awareness program. The program involves the development of an international consensus paper to educate and help people make decisions, raise awareness of heart failure, and provide treatment to individuals with heart failure.
Further, the report states that complications of CRT in children also hinders market growth.
Boston Scientific, Medtronic, St. Jude Medical, Biotronik, Cook Medical, Sorin Group, Spectranetics
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