Cardiac Resynchronization Therapy (CRT Devices) Market Share Analysis, By Key Players & Competitive Landscape 2018-2024

Cardiac Resynchronization Therapy Market
Cardiac Resynchronization therapy is used to treat heart diseases. Devices that are used in cardiac resynchronization therapy known as CRT devices. Irregular heartbeats is known as arrhythmias that can be caused due to the various reasons such as age, damage of heart, genetic factors and so far used medications. CRT, or biventricular pacing, is used to improve the rhythm of the heart and reduce the symptoms that are associated with the arrhythmias in the heart failure patients. Heart’s ventricle contractions in arrhythmic patients are resynchronized by the CRT devices. CRT devices are the implantable devices with a microcomputer along with an enclosed battery by a tiny titanium metal case. Insulated wires known as leads are implanted along with the device so as to pass the information signals from the heart to heart device to carry electrical impulses to heart.

Increase in prevalence rate of the heart diseases globally driving the CRT devices market. Rise in the demand of the invasive techniques in treatment of the heart diseases and changes in the life style driving the CRT devices market. Moreover, advancements in the technologies and rise in the adaptability of the CRT devices are fuelling the market of the CRT devices. However, risks in CRT therapy such as surgical site infection, failure in delivering the optimum therapy when it is needed (either extra therapy when it is not needed or no therapy delivered when it is needed), sensitivity towards the device material are hindering the growth of CRT devices market.

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Global CRT Devices device market is segmented based on type of device, and end-user

Based on type of device, CRT market is segmented into
CRT-pacemakers
CRT-defibrillators

Based on end-user, CRT devices market is segmented into
Hospitals
Clinics
Ambulatory Surgical Centres

CRT devices market is expected to show significant growth rate during forecast period due to the high prevalence of cardiac diseases. As per the World Health Organisation (WHO), one of the leading cause of death worldwide is cardiovascular disease, and around 17.5 Mn people died from the cardiovascular diseases which accounted 31% of all the global deaths in the year 2013. Cardiovascular diseases can be prevented by addressing the behavioural risks like cigarette smoking, an unhealthy diet and obesity, players in the market are focusing on the R&D investments to improve the product quality and to minimize manufacturing costs and also focus on development of the devices that are safe to improve compliance of the patient. For example, Medtronic and St. Jude Medical (Abbott laboratories) offer leadless pacemakers for the implantation of the equipment in the right ventricle. Moreover, increase in the usage of MRIs in clinical applications.

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Geographically CRT Devices market is divided into five key regions they are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America expected to be major contributor for CRT devices market owing to factors such as prevalence rates of heart diseases, well established healthcare infrastructure and increase in adaptability rates of CRT devices. Asia-Pacific and Latin American region are expected to witness lucrative growth owing to rapid expansion of industry players within these regions in terms of manufacturing as well as distribution. In addition, increased adaptability rates of a CRT devices and increase in awareness regarding CRT devices are expected to boost the market growth in this region.

Some of the players in the cardiac resynchronization therapy are Medtronic (U.S.), Abbott Laboratories (U.S.), Biotronik (Germany), LivaNova Plc. (UK), and Boston Scientific Corporation (U.S.) to name a few.

In February 2018, RESONATE™ cardiac resynchronisation therapy defibrillator (CRT-D) systems was launched by Boston Scientific and also received CE Mark which is available for treatment of heart failure in patients across the globe

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In January 2018, Abbott laboratories acquired St. Jude Medical, Inc., for the future growth and to develop a diverse and strong portfolio of medical devices, nutritionals, diagnostics and established branded generic pharmaceuticals.

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