Rise in the geriatric population, increase in the prevalence of cardiovascular diseases, and development in healthcare infrastructure have boosted the growth of the U.S. cardiac resynchronization therapy market. Moreover, high-end technological developments in CRT devices supplemented the market growth. However, product recalls in the U.S., cost of CRT devices, and shortage of healthcare professionals hinder the market growth. On the contrary, developing opportunities in the low economic U.S. states would open lucrative opportunities for the market players.
According to the report published by Allied Market Research, 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. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Cardiac resynchronization therapy (CRT) also known as biventricular pacing or multisite ventricular pacing, is a type of treatment to help correct serious heart rhythm problems. It involves simultaneous pacing of the right ventricle (RV) and the left ventricle (LV). CRT devices assist heart beat efficiently and monitor heart condition, thereby the healthcare professional can provide proper treatment to the patient. Cardiac resynchronization therapy helps in restoring mechanical synchrony by electrically activating the heart in a synchronized manner.
Covid-19 scenario-
The integration of CRT pacemaker and cardiac resynchronization therapy defibrillator significantly reduced during the Covid-19 pandemic.
However, the demand is expected to slowly increase as the market gets back to its track.
Key Findings Of The Study
On the basis of type, the CRT defibrillator segment was the highest contributor to the U.S. cardiac resynchronization therapy market in 2019
On the basis of application, the intraventricular dyssynchrony segment dominated the U.S. cardiac resynchronization therapy market in 2019, and is expected to continue this trend during the forecast period.
On the basis of end user, the specialized cardiac treatment centers segment is anticipated to register fastest CAGR during the forecast period
Based on end user, the specialized cardiac treatment centers segment is estimated to register the highest CAGR of 6.0% during the forecast period. However, the hospitals segment held the largest share in 2019, accounting for more than three-fifths of the market.
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The U.S. cardiac resynchronization therapy market report includes an in-depth analysis of the major market players such as Abbott Laboratories, Osypka Medical GmbH, BIOTRONIK SE & Co. KG, Boston Scientific Corporation, Medtronic plc, LivaNova PLC, MEDICO S.p.A., MicroPort Scientific Corporation, OSCOR Inc., and Lepu Medical Technology (Beijing) Co., Ltd.
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