The global Cardiac Resynchronization Therapy Systems market was
valued at approximately US$ 3.1 Bn in 2016 is projected to register
cumulative annual growth rate (CAGR) of over 5.3% from 2017 to 2025,
according to a new report published by Transparency Market Research
(TMR) titled “Cardiac Resynchronization Therapy Systems Market –
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast,
2017–2025”. The report suggests that surge in incidences of heart
failure is spur the demand of cardiac resynchronization therapy
systems in the coming years (2017 to 2025). . Increased rate of
Cardiac Resynchronization Therapy Pacemaker and Cardiac
Resynchronization Therapy Defibrillator implantations in heart
failure patients is propelling the Cardiac Resynchronization Therapy
Systems Market growth in North America and Western Europe, these
regions are likely to account for dominating share of the global
cardiac resynchronization therapy systems market. Changing dietary
habits and sedentary lifestyle trends in emerging markets such as
China and India is likely to boost growth of Asia Pacific cardiac
resynchronization therapy systems market during the forecast period
of 2017 to 2025.
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Prevalence of heart failure is expected to increase exponentially
worldwide due to change in lifestyle and various factors such as
malnutrition, genetic mutations, and others. According to various
government and private organizations operating in the cardiovascular
industry, heart failure is considered one of the top reasons of
mortality worldwide. Globally 26 million people are affected by heart
failure. Cardiac resynchronization therapy (CRT) systems are used to
treat conditions such as heart failure. The cardiac resynchronization
therapy system device works by resynchronizing the contractions of
heart ventricles by sending the electrical signals to the heart
muscle. The device is implanted as a combination of CRT device and a
pacemaker, and a CRT and pacemaker and defibrillator helping in
better heart pumping and improved blood flow.
The CRT device is usually implanted just below the skin in the chest
area.
The global Cardiac Resynchronization Therapy Systems Market has been
segmented based on product type, and geography. Considering the
product type the global Cardiac Resynchronization Therapy Systems
Market is classified in to major segments- Cardiac Resynchronization
Therapy Pacemaker and Cardiac Resynchronization Therapy
Defibrillator. Cardiac resynchronization therapy pacemaker (CRT-P)
also known as bi ventricular pacing is an implantable cardiac
resynchronization therapy (CRT) pacemaker for patients with heart
failure. The device monitors the heart's rhythm, detects
irregularities and corrects them with electrical impulses. Cardiac
resynchronization therapy defibrillator (CRT-D) is implanted in heart
failure patients who are at a high risk of sudden cardiac arrest.
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The cardiac resynchronization therapy defibrillator (CRT-D)
contributed a share of 92.1% in terms of revenue of the global
Cardiac Resynchronization Therapy Systems Market in the year 2016.
According to the research presented at the American College of
Cardiology’s 63rd Annual Scientific Session, patients suffering
from mild heart failure who receive a cardiac resynchronization
therapy defibrillator (CRT-D) device may live longer than those
implanted with a traditional implantable cardioverter defibrillator
(ICD). Thus this segment is the major segment contributing the
maximum share in terms of revenue to the Global Cardiac
Resynchronization Therapy Systems Market.
Geographically, the global Cardiac Resynchronization Therapy Systems
Market can be segmented into five key regions: North America, Latin
America, Europe, Asia Pacific, and Middle East & Africa. Based on
geographic distribution, North America dominated the global Cardiac
Resynchronization Therapy Systems Market followed by Europe in 2016.
Advancement in technology and awareness of cardiovascular and
associated diseases are the key reasons for growth of Cardiac
Resynchronization Therapy Systems Market in these regions.
The region
accounted for prominent share of the global Cardiac Resynchronization
Therapy Systems Market in the same year. China is a rapidly expanding
market for cardiac resynchronization therapy systems in Asia Pacific.
The country is anticipated to account for maximum share of the market
in the region by 2025. According to a study published in Circulation
Journal Vol.77, there are 4.2 million people with heart failure in
China having a prevalence rate of 1.3% and 500,000 new cases of heart
failure are diagnosed every year. The market in the Middle East is in
the developing phase, which offers strong expansion potential in the
near future due to increasing demand for CRT device implantations.
Globally the Cardiac Resynchronization Therapy Defibrillator segment
of the Cardiac Resynchronization Therapy Systems Market is expected
to dominate the market during the forecast period.
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