The Global Cardiac Resynchronization Therapy (CRT) Devices Market was valued at USD 7.14 Billion in the year 2021 with the Americas region leading the regional market share. One of the main factors driving this market is the rising prevalence of cardiovascular diseases (CVDs) that lead to heart failure (HF). Each year, approximately 3.5 million people suffer from HF worldwide fostering the demand for cardiac resynchronization therapy devices. Additionally, factors such as technological advancements in devices, expanding CRT product developments, key company initiatives & investments, sedentary lifestyles and ageing demographics around the world are anticipated to impel the market growth in the forecast period.
The Asia Pacific CRT devices market is predicted to be the hotspot and the most lucrative region for the market participants worldwide. Some of the major factors propelling the growth of the cardiac resynchronization therapy devices market in the Asia Pacific region include a favourable reimbursement scenario in Japan, an ageing population in China, an increase in CVD incidence, an improved healthcare infrastructure, an expanding middle-class population, and rising disposable income levels in India.
The cardiac resynchronization therapy (CRT) devices market experienced a period of a temporary setback in the year 2020 as lockdown restrictions were enforced as a necessary step to curb the spread of COVID-19 virus. However, after the initial shock and confusion about COVID-19, companies and governments began taking corrective actions to help the economy and businesses recover. These measures included policy & monetary stimulus, easing of restrictions, conditional exemptions, and other strategic initiatives. This resulted in healthcare activities returning to normal pace towards the end of 2020 with the approval and administration of COVID-19 vaccines across the globe, thereby offering better growth prospects for the cardiac resynchronization therapy devices market during the forecast period.
Scope of the Report
• The report analyses the Cardiac Resynchronization Therapy Devices Market by Value (USD Billion).
• The report analyses the Cardiac Resynchronization Therapy Devices Market by Volume (in Million Units).
• The report analyses the Cardiac Resynchronization Therapy Devices Market by Product (CRT-Defibrillator and CRT-Pacemaker)
• The report analyses the Cardiac Resynchronization Therapy Devices Market by End User (Hospitals, Cardiac Centers and Research & Laboratories)
• The Global Cardiac Resynchronization Therapy Devices Market has been analysed By Region (Americas, Europe, Asia Pacific, MEA).
• The Global Cardiac Resynchronization Therapy Devices Market has been analysed By Country (United States, Canada, Germany, United Kingdom, France, Italy, Spain, China, Japan, India).
• The key insights of the report have been presented through the leading company shares. Also, the attractiveness of the market has been presented by region, by Product and by End User.
• Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, and Major Products & Developments and Mergers & Acquisitions. The companies analysed in the report include Medtronic, Boston Scientific Corp., Abbott Laboratories, Biotronik, MicroPort Scientific Corporation, Medico S.p.A, LivaNova and EBR Systems.
• The report presents the analysis of the Cardiac Resynchronization Therapy Devices Market for the historical period of 2017-2021 and the forecast period of 2022-2027.
Key Target Audience
• Cardiac Resynchronization Therapy Devices Manufacturers & Distributors
• End Users (Hospitals, Cardiac Centers, Research & Laboratories)
• Research and Development (R&D) Organizations
• Government Bodies & Regulating Authorities
• Investment Banks and Equity Firms
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