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CRT Devices Market Forecast Report 2026: Revenue and Outlook by Industry Players

Author : Ronak Bora | Published Date : 2020-09-04 

CRT Devices Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Global cardiac resynchronization therapy (CRT) devices market size is slated to grow substantially in the forthcoming years. Recent times have witnessed a rising occurrence of cardiovascular diseases including arrhythmias and heart failures. The World Health Organization (WHO) reports that nearly 17.9 million individuals died of cardiovascular health conditions during 2016.

The rising prevalence of cardiovascular diseases can be linked with inactive and sedentary lifestyles of consumers across almost all parts of the world. In addition, there has been a massive upsurge in tobacco smoking and excessive alcohol consumption. All these trends suggest a significant need for efficient CTR devices. It has been projected that global CRT devices market size will reach annual revenues of US$3 billion by 2026.

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With respect to product, the market is classified into cardiac resynchronization therapy-defibrillator devices and cardiac resynchronization therapy-pacemaker. Among these, the cardiac resynchronization therapy-defibrillator devices held a market share of approximately 81% in 2019 and will continue to show appreciative growth in the coming years. A CRT-D is basically an implantable defibrillator which is used to stop sudden cardiac death. It works as both a defibrillator and a pacemaker.

Furthermore, the potential to stop cardiac death and correct arrythmias will encourage the demand for these devices. The rising number of geriatric populations which is susceptible to cardiac disease will further drive the expansion of product segment during the estimated time frame.

These devices are further categorized as conventional CRT-D and MRI-compatible CRT-D devices. Among these, the MRI compatible segment will show a CAGR of over 9.5% during the projected time period.

Based on end-use segment, the market is categorized into ambulatory surgical centers, hospitals, and cardiac care centers. Among these, the ambulatory surgical centers held about 39% market share back in 2019 and will exhibit strong growth in the coming years.

Factors like lower cost of surgeries and decrease in hospital stays will boost the demand for CRT devices from ambulatory surgical centers. The increasing number of ambulatory surgical centers will further push the segment growth.

The cardiac resynchronization therapy devices market in APAC region held a value of nearly $135 million in 2019. The regional market is poised to showcase strong growth in the coming years due to the rise in the number of geriatric populations in the region.

Moreover, there is rising incidence of cardiac diseases because of increased consumption of junk food as well as sedentary lifestyle. The above determinants are likely to boost the regional growth.

South Korea will dominate the APAC CRT devices market with a CAGR of around 9% over the projected time period. As pe the census of 2017, the elderly population registered for approximately 14% of the population in South Korea. The increasing geriatric population will further promote the expansion of regional market over the forthcoming timeframe. Additionally, exponential adoption of technology will drive the expansion of industry in the forecast timeframe. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/cardiac-resynchronization-therapy-crt-devices-market

Partial Chapter of the Table of Content 

Chapter 4.   Cardiac Resynchronization Therapy Devices Market, By Product

4.1. Key segment trends

4.2. CRT-Pacemakers

4.2.1. Market size, by region, 2015 – 2026 (USD Million)

4.2.2.  Market size, by region, 2015 – 2026 (Units)

4.2.3. MRI Compatible CRT-P Devices

4.2.3.1.  Market size, by region, 2015 – 2026 (USD Million)

4.2.3.2.   Market size, by region, 2015 – 2026 (Units)

4.2.4. Conventional CRT-P Devices

4.2.4.1.  Market size, by region, 2015 – 2026 (USD Million)

4.2.4.2.   Market size, by region, 2015 – 2026 (Units)

4.3. CRT-Defibrillators

4.3.1. Market size, by region, 2015 – 2026 (USD Million)

4.3.2.  Market size, by region, 2015 – 2026 (Units)

4.3.3. MRI Compatible CRT-D Devices

4.3.3.1.  Market size, by region, 2015 – 2026 (USD Million)

4.3.3.2.   Market size, by region, 2015 – 2026 (Units)

4.3.4. Conventional CRT-D Devices

4.3.4.1.  Market size, by region, 2015 – 2026 (USD Million)

4.3.4.2.   Market size, by region, 2015 – 2026 (Units)

Chapter 5.   Cardiac Resynchronization Therapy Devices Market, By Age

5.1. Key segment trends

5.2. Below 44 years

5.2.1. Market size, by region, 2015 – 2026 (USD Million)

5.2.2.  Market size, by region, 2015 – 2026 (Units)

5.3. 45-64 years

5.3.1. Market size, by region, 2015 – 2026 (USD Million)

5.3.2.  Market size, by region, 2015 – 2026 (Units)

5.4. 65-84 years

5.4.1. Market size, by region, 2015 – 2026 (USD Million)

5.4.2.  Market size, by region, 2015 – 2026 (Units)

5.5. Above 85 years

5.5.1. Market size, by region, 2015 – 2026 (USD Million)

5.5.2.  Market size, by region, 2015 – 2026 (Units)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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