The global cardiac resynchronization therapy (CRT) market is
expected to reach USD 9.2 billion by 2025, according to a new report by Grand
View Research, Inc. Increasing prevalence of cardiac disorders and rising
incidences of heart failure are expected to boost the CRT market growth over
the forecast period.
According to statistics published by
the Sudden Cardiac Arrest Foundation in 2016, about 6.0 million people within
the U.S. region suffer from cardiac disorders, of which 0.8 million are
affected by atrioventricular block leading to cardiac failure. Such a huge
number leads to an increased cost of about USD 20.0-56.0 billion annually. CRT
devices are being predominantly used to prevent the surgical cost and
readmission rate in hospitals, thereby propelling its growth.
In addition, the on-going research to
develop smaller, wireless/leadless and long-lasting CRT devices is expected to
be a vital impact rendering driver. For instance, in September 2016, EBR
Systems Inc., announced that it had attained the FDA Investigational Device
Exemption (IDE) consent for their Wireless Stimulation Endocardially (WiSE)
technology in the U.S.
This technology is capable of
stimulating the left ventricle internally leading to superior performance in
comparison to devices with pacing systems placed near the collar bone. The
study is expected to be started by mid-2017 with complete support by the FDA in
terms of regulatory compliance, and financial aid.
Browse full research report on Cardiac Resynchronization
Therapy (CRT) Market: https://www.grandviewresearch.com/industry-analysis/cardiac-resynchronization-therapy-devices-market
Further Key Findings From the Study Suggest:
- CRT-D
products are expected to dominate over the forecast period. According to a
paper published in the Journal of Cardiovascular Electrophysiology, more
than half of the CRT product implants are done using CRT-D.
- Asia
Pacific and Latin American region are expected to witness lucrative growth
and contribute over 30.0% of the revenue in 2025. This has been attributed
to the rapid expansion of industry players within these regions in terms
of manufacturing as well as distribution.
- Competitive
pricing and necessity for high operational optimization are expected to
help companies strengthen their foothold in growing economies such as
India, Mexico, and others.
- Additionally,
countries such as Japan are also observed to register high adoption rate
for quadripolar lead-based CRT-D devices. This is expected further boost
market growth.
- Major
market players of the industry are Medtronic Plc., BIOTRONIK, LivaNova
Plc., St. Jude Medical, and Boston Scientific. However, a more assorted
marketplace exists for vendors of leads (wireless and wired) that are used
in the system.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/cardiac-resynchronization-therapy-devices-market/request/rs1
Grand View Research has segmented the global CRT market on the
basis of product and region:
CRT Product Outlook (Revenue, USD Million, 2014 - 2025)
- CRT-D
- CRT-P
Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- Middle
East and Africa (MEA)
- South
Africa
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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