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Cardiac Resynchronization Therapy Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.
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Published date -30th Jan 2024
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Formats -PDF, CSV
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Region -Global
Cardiac Resynchronization Therapy Market Analysis
Market Size & CAGR of Cardiac Resynchronization Therapy Market in 2021
The global cardiac resynchronization therapy market is expected to have a compound annual growth rate (CAGR) of 4.5% from 2021 to 2026. The market size is projected to reach USD 5.6 billion by 2021.
COVID-19 Impact on the Cardiac Resynchronization Therapy Market
The COVID-19 pandemic has had a significant impact on the cardiac resynchronization therapy market. Due to the pandemic, there has been a disruption in supply chains, leading to a shortage of medical devices and equipment. Additionally, the focus of healthcare systems on managing COVID-19 cases has resulted in a decrease in the number of cardiac procedures, including cardiac resynchronization therapy.
Cardiac Resynchronization Therapy Dynamics
Cardiac resynchronization therapy (CRT) is an effective treatment for heart failure patients with reduced ejection fraction. CRT devices help improve the coordination of the heart's pumping action, thereby enhancing heart function and reducing symptoms of heart failure.
Segments and Related Analysis
The cardiac resynchronization therapy market is segmented based on product type, end-user, and region. The key product types include CRT pacemakers and CRT defibrillators. The major end-users of CRT devices are hospitals, cardiac clinics, and ambulatory surgical centers.
By Region Analysis
The cardiac resynchronization therapy market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America currently leads the market due to the high prevalence of heart failure cases and advanced healthcare infrastructure.
Key Market Players and Competitive Landscape
Some of the key players in the cardiac resynchronization therapy market include Medtronic, Abbott Laboratories, Boston Scientific Corporation, LivaNova PLC, and Biotronik. These companies are focused on product innovation and strategic partnerships to gain a competitive edge in the market.
Recent Happenings in the Cardiac Resynchronization Therapy Market
In recent developments, Medtronic launched a next-generation CRT device with advanced features for heart failure patients. Abbott Laboratories announced a strategic collaboration with a leading research institution to study the efficacy of CRT in specific patient populations.
