Report Ocean has published a new report on the “U.S. Cardiac Resynchronization Therapy Market ” in diverse regions to produce a report with more than 250+pages. This market report is an excellent fusion of qualitative and quantitative data emphasizing major industry changes, business and competitor difficulties in gap analysis, and potential new possibilities in the U.S. Cardiac Resynchronization Therapy Market .
The U.S. cardiac resynchronization therapy market was valued at $965.6 million in 2019, and is projected to reach $983.3 million by 2027, registering a CAGR of 4.9% from 2020 to 2027. Surge in geriatric population along with rise in prevalence of cardiovascular diseases (CVDs), increase in technological advancements in the CRT pacemakers and CRT defibrillators, and rise in healthcare expenditure in the U.S. are some of the major factors that boost the market growth. For instance, according to the Centers for Disease Control and Prevention (CDC), it is estimated that 12.1 million individuals will have atrial fibrillation (AFib) by 2030 in the U.S. In addition, the CDC reported that approximately 6.2 million adults in the U.S. are suffering from heart failure. One patient dies every 36 seconds in the U.S. from cardiovascular disease.
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Cardiac resynchronization therapy (CRT) is a treatment prescribed to help heart beat with the correct rhythm. CRT uses a pacemaker for restoration of the normal timing pattern of heartbeat. It is a procedure to implant a device in the chest to make heart’s chambers contract proficiently. Cardiac resynchronization therapy is traditionally a treatment for patients who experience heart failure and then develop an arrhythmia. Cardiac resynchronization therapy offers applications in the intraventricular dyssynchrony, interventricular dyssynchrony, and atrioventricular dyssynchrony.
Heart disease is the leading cause of death for men, women, and individuals of most racial and ethnic groups in the U.S. In addition, about 655,000 Americans die from heart disease every year, which is one in every four deaths. In contrast, the presence of stringent regulations for CRT devices and high cost of CRT therapy in the U.S. are anticipated to impede the market growth over the assessment period. The U.S. cardiac resynchronization therapy market is segmented into type, application, and end user. By type, the market is categorized into CRT pacemaker and CRT defibrillator. Pacemaker is a small electronic device, implanted below the collarbone and are connected to the heart with wires or leads to the right chambers of the heart. The CRT defibrillator segment is expected to dominate the market over the forecast period due to rising adoption of CRT defibrillators over CRT pacemakers and the launch of technologically advanced CRT defibrillators.
On the basis of application, the U.S. cardiac resynchronization therapy market is divided into intraventricular dyssynchrony, interventricular dyssynchrony, and atrioventricular dyssynchrony. Intraventricular dyssynchrony is the principal factor responsible for contractile dysfunction, the one most affected by and most predictive of response to resynchronization therapy. The intraventricular dyssynchrony segment spearheaded the market in 2019 in terms of revenue attributed to comparatively higher incidence of intraventricular dyssynchrony among patients with heart failure and left bundle branch block. Interventricular dyssynchrony refers to the discordance between the times of right ventricular (RV) and left ventricular (LV) contraction, or delay in segmental wall motion. Atrioventricular (AV) dyssynchrony occurs when there is an unfavorable difference in timing between atrial and ventricular contractions. It is a delay in the normal sequential AV contraction, due to delayed conduction through the AV node. This refers to abnormal timing of contraction of the left atrium (LA) with respect to the LV impairs cardiac function.
By end user, the U.S. cardiac resynchronization therapy market is segregated into hospitals, ambulatory surgical centers, and specialized cardiac treatment centers. The hospitals segment is anticipated to lead the market throughout the forecast period owing to higher number of CVDs performed along with rise in adoption of cardiac resynchronization therapy devices in the hospital settings. On the other hand, the specialized cardiac treatment centers segment is expected to witness significant market outlook during the study period as it provides diagnostic and treatment services for patients suffering from heart diseases with the assistance of an integrated medical team.
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The cardiac resynchronization therapy market is highly competitive in nature, as major players in this vertical are concentrating on growth strategies such as product launches, mergers and acquisitions (M&As), partnerships and collaborations to gain competitive advantage. For instance, in June 2018, MicroPort Scientific Corporation received approval by the Japanese Pharmaceutical and Medical Devices Agency (PMDA) for PLATINIUM 4LV SonR CRT-D cardiac resynchronization device and the associated SonRtip lead featuring the innovative SonR technology. The SonR system uses an innovative contractility micro-sensor embedded in the SonRtip lead to assess the patient’s left ventricular contractility and optimize the cardiac resynchronization therapy response in heart failure patients.
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
KEY BENEFITS FOR STAKEHOLDERS
– The study provides an in-depth analysis of the U.S. cardiac resynchronization therapy market size along with the current trends and future estimations to elucidate the imminent investment pockets
– It offers market analysis from 2020 to 2027, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market
– A comprehensive analysis on country assists to understand the country market and facilitate the strategic business planning and determine prevailing opportunities
– The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the U.S. cardiac resynchronization therapy market growth
List of key players profiled in the report
– Medtronic plc
– Abbott Laboratories
– BIOTRONIK SE & Co. KG
– Boston Scientific Corporation
– Lepu Medical Technology (Beijing) Co., Ltd.
– LivaNova PLC
– MEDICO S.p.A.
– MicroPort Scientific Corporation
– OSCOR Inc.
– Osypka Medical GmbH
List of other players in the value chain (profiles not included in the report):
– Cook Group Incorporated
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KEY MARKET SEGMENTS
– CRT Pacemaker
– CRT Defibrillator
– Intraventricular Dyssynchrony
– Interventricular Dyssynchrony
– Atrioventricular Dyssynchrony
By End User
– Ambulatory Surgical Centers
– Specialized Cardiac Treatment Centers
Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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- Indicates the place and phase that is predicted to witness the quickest increase as properly as to dominate the market
- Analysis via geography highlighting the consumption of the product/service in the location as properly as indicating the elements that are affecting the market inside every region
- Competitive panorama which accommodates the market rating of the most important players, alongside with new service/product launches, partnerships, enterprise expansions, and acquisitions in the previous 5 years of businesses profiled
- Extensive agency profiles comprising of employer overview, organization insights, product bench marking, and SWOT evaluation for the essential market players
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- Market dynamics scenario, alongside with boom possibilities of the market in the years to come
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