What is Cardiac Resynchronization Therapy?
Cardiac resynchronization therapy (CRT), also known as biventricular pacing or multisite ventricular pacing, is a treatment that involves implanting a half-dollar-sized pacemaker, usually just below the collarbone that improves the heart’s efficiency and increases blood flow. CRT uses a device called a biventricular pacemaker that sends electrical signals to both lower chambers of the heart (ventricles). The factors such as Decrease in Hospitalization and Morbidity as well as Improvements in Quality of Life due to CRT and Significant Increase in the Number of CRT Implants in Older Patients are the driving factors for the Cardiac Resynchronization Therapy market. Complications Associated with Cardiac Resynchronization Therapy such as Infection, Blood Vessel Injury, Collapsed Lung and Heat Failure and Increased CRT-Associated Hospital Charges may restrain the market growth.
The market study is broken down by Type (Cardiac Resynchronization Therapy Defibrillator (CRT-D) and Cardiac Resynchronization Therapy Pacemaker (CRT-P)) and major geographies with country level break-up.
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Cardiac Resynchronization Therapy market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Boston Scientific Corporation (United States), Medtronic plc (Ireland), St. Jude Medical, Inc. (United States), Biotronik (Germany), Cook Medical (United States), LivaNova, PLC (United Kingdom), Spectranetics Corporation (United States), Medico S.P.A. (Italy), MicroPort (China) and Abbott Laboratories (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Shree Pacetronix Ltd. (India) and Lepu Medical Technology (China).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Cardiac Resynchronization Therapy market by Type, Application and Region.
On the basis of geography, the market of Cardiac Resynchronization Therapy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Hospital Pharmacies will boost the Cardiac Resynchronization Therapy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-user, the sub-segment i.e. Hospitals & Cardiac Centers will boost the Cardiac Resynchronization Therapy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Trend
- Significant Increase in Number of CRT Implants in Older Patients
Market Drivers
- CRT Improves the Heart’s Efficiency and Increases Blood Flow
- Decrease in Hospitalization and Morbidity as well as Improvements in Quality of Life
- Technological Advancements in The Medical Science
Opportunities
- Increasing Number of Geriatric Population Worldwide
- Growth in the Healthcare Industry Around the Globe
Restraints
- Complications Associated with Cardiac Resynchronization Therapy such as Infection, Blood Vessel Injury, Collapsed Lung and Heat Failure
- Increased CRT-Associated Hospital Charges
Challenges
- Lack of Skilled Healthcare Professionals
Key Target Audience
Cardiac Resynchronization Therapy Device Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies, Research Professionals and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.