Cardiac Resynchronization Therapy Systems Market

Cardiac Resynchronization Therapy Systems Market (Product Type: Cardiac Resynchronization Therapy Pacemaker and Cardiac Resynchronization Therapy Defibrillator) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2031

Cardiac Resynchronization Therapy Systems Market Outlook 2031

  • The global industry was valued at US$ 4.5 Bn in 2022
  • It is estimated to grow at a CAGR of 4.9% from 2023 to 2031 and reach US$ 6.9 Bn by the end of 2031

Analyst Viewpoint

Increase in prevalence of cardiovascular diseases is a crucial factor that is fueling the cardiac resynchronization therapy systems market growth. Rise in geriatric population, surge in work-related stress, and adoption of unhealthy lifestyles are primary causes for the spur in cases of heart failure and other heart-related conditions. CRT systems optimize blood flow and manage symptoms of heart failure, such as fatigue and shortness of breath, by synchronizing heart contractions.

Constant innovations and increase in research in intensive care solutions are also boosting the cardiac resynchronization therapy systems industry size. Heart-related chronic illnesses are a significant burden to national healthcare systems. Therefore, research in critical care devices and therapeutic systems to optimize and improve patient health output is essential. Prominent players operating in the global cardiac resynchronization therapy systems market are carrying out advancements in CRT implants and devices to cater to expand their product portfolio.

Cardiac Resynchronization Therapy Systems Market

Market Introduction

Cardiac Resynchronization Therapy (CRT) Systems are sophisticated medical devices used to address heart failure in patients by synchronizing the contractions of the heart's ventricles through the use of pacemakers or defibrillators.

These devices are used when disruptions in the heart's electrical signals lead to inefficient pumping and symptoms of heart failure. CRT systems improve the coordination between heart chambers, thus optimizing blood flow and the overall cardiac function.

CRT systems offer assistance in enhancing exercise capabilities, improving the probability of survival of heart failure patients, and advancing the treatment of symptoms. Recent innovations in CRT technology focus on device miniaturization, battery longevity, and personalized programming to customize treatment to individual patient needs, especially for the elderly population who are prone to several other long-term ailments.

Integration of remote monitoring abilities that allow healthcare providers to assess patient status and modify device settings from anywhere is one of the recent cardiac resynchronization therapy systems market trends that enhances patient care and reduces the need for frequent in-person visits.

Rise in Prevalence of Cardiovascular Diseases Boosting Cardiac Resynchronization Therapy Systems Market Value

Growth in prevalence of cardiovascular diseases, such as coronary artery disease and heart valve disorders, can be ascribed to factors such as surge in the global geriatric population, rise in adoption of sedentary modern lifestyle, high work-related stress, and lack of sleep that elevates the risk of obesity and diabetes.

CRT plays a pivotal role in the management of heart failure symptoms by optimizing heart contractions, thus leading to alleviation of symptoms such as fatigue and shortness of breath. Furthermore, CRT systems regulate blood flow.

These systems are used for individuals experiencing moderate to severe heart failure and not responding positively to conventional treatments. These devices are applied across diverse healthcare settings, ranging from hospitals to specialized cardiac care units.

As per the 2021 AHA Statistical Update, approximately 1.8% of the total U.S. population suffered from congestive heart failure (CHF). Researchers also estimate a 46% rise in heart failure cases by 2030, totaling more than eight million people in the U.S. According to Emory Healthcare, almost 1.4 million people in the U.S. suffering from CHF are under 60 years of age.

Advancements in Intensive Care Research Driving Market Progress

Innovations in intensive care research commonly focus on improving diagnostic tools, and refining treatment modalities and therapeutic devices. Investments in intensive care research are driven by the constant need for better health outcomes for patients.

Cardiovascular issues such as heart failure add substantially to the national healthcare system, fostering research expenditure to support innovative solutions for improved treatment and patient care.

According to The American Journal of Emergency Medicine, nearly 11% of the total U.S. healthcare expenditure is incurred on critical care. As per the National Center for Biotechnology Information, heart failure costs in the country are expected to reach US$ 70.0 Bn per year by 2030, with total cost of caring for patients with heart failure reaching US$ 160.0 Bn.

Thus, surge in research expenditure toward further development of intensive care units and devices to combat the potential high expenditure of critical care is creating lucrative cardiac resynchronization therapy systems market opportunities for companies operating in the landscape.

Regional Outlook

North America held the largest cardiac resynchronization therapy systems market share of the global landscape in 2022. Surge in population with cardiovascular issues and potential heart risks in the U.S. and Canada; and implementation of stringent patient safety and intensive care policies are driving market dynamics of the region.

The cardiac resynchronization therapy systems market forecast appears positive in Asia Pacific, led by the strong presence of healthcare providers, large patient pool requiring cardiologist-recommended CRT devices, and rise in awareness about cardiovascular diseases in developing countries such as China and India.

Analysis of Key Players

According to cardiac resynchronization therapy systems market insights, prominent manufacturers are investing substantially in the development of advanced heart failure management devices and CRT implantable devices.

Mergers, acquisitions, and close partnerships are seen as key strategies to build a better product portfolio and maintain strong position in the sector. Medtronic, Boston Scientific Corporation, Abbott, LivaNova PLC, BIOTRONIK SE & Co. KG, Asahi Kasei Medical Co., Ltd., NIHON KOHDEN CORPORATION, and Schiller AG are prominent players operating in the global industry.

These firms have been profiled in the cardiac resynchronization therapy systems market research report in terms of parameters such as company overview, product portfolio, business strategies, financial overview, and business segments.

Key Developments

  • In September 2023, researchers at Geisinger Wyoming Valley Medical Center, Wilkes-Barre, PA, the U.S., completed a pilot study showcasing the benefits of His-Purkinje Conduction System Pacing, which is used to improve the functionality of the left ventricle of the heart
  • In May 2023, researchers at Massachusetts General Hospital successfully announced the development of SOLVE-CRT, a leadless pacemaker that can deliver CRT to people who are not suited to traditional methods. The device has successfully surpassed the safety and efficacy performance goals.

Cardiac Resynchronization Therapy Systems Market Snapshot

Attribute Detail
Market Value in 2022 (Base Year) US$ 4.5 Bn
Market Forecast Value in 2031 US$ 6.9 Bn
Growth Rate (CAGR) 4.9%
Forecast Period 2023-2031
Historical Data Available for 2017-2021
Quantitative Units US$ Bn for Value
Market Analysis Qualitative analysis includes drivers, restraints, opportunities, key trends, key market indicators, Porter’s Five Forces analysis, value chain analysis, and SWOT analysis. Furthermore, at the regional level, the qualitative analysis includes key trends, price trends, and key supplier analysis.
Competition Landscape
  • Prominent Players – Competition Dashboard and Revenue Share Analysis, 2022
  • Company Profiles (Details – Company Overview, Sales Area/Geographical Presence, Revenue, Strategy & Business Overview)
Format Electronic (PDF) + Excel
Market Segmentation
  • Product Type
    • Cardiac Resynchronization Therapy Pacemaker
    • Cardiac Resynchronization Therapy Defibrillator
Regions Covered
  • North America
  • Latin America
  • Asia Pacific
  • Europe
  • Middle East & Africa
Countries Covered
  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia and CIS
  • Japan
  • China
  • India
  • ASEAN
  • Brazil
  • Mexico
  • GCC
  • South Africa
Companies Profiled
  • Medtronic
  • Boston Scientific Corporation
  • Abbott
  • LivaNova PLC
  • BIOTRONIK SE & Co. KG
  • Asahi Kasei Medical Co., Ltd.
  • NIHON KOHDEN CORPORATION
  • Schiller AG
Customization Scope Available upon Request
Pricing Available upon Request

Frequently Asked Questions

How big was the global cardiac resynchronization therapy systems market in 2022?

It was valued at US$ 4.5 Bn in 2022

How is the cardiac resynchronization therapy systems business expected to grow by 2031?

It is projected to grow at a CAGR of 4.9% from 2023 to 2031

What are the key factors driving the demand for cardiac resynchronization therapy systems?

Rise in prevalence of cardiovascular diseases and advancements in intensive care research

Which cardiac resynchronization therapy systems product type segment held the largest share in 2022?

The cardiac resynchronization therapy defibrillator segment accounted for the largest share in 2022

Which was the major region in the global cardiac resynchronization therapy systems industry in 2022?

North America dominated the global landscape in 2022

Who are the key cardiac resynchronization therapy systems manufacturers?

Medtronic, Boston Scientific Corporation, Abbott, LivaNova PLC, BIOTRONIK SE & Co. KG, Asahi Kasei Medical Co., Ltd., NIHON KOHDEN CORPORATION, and Schiller AG

    1. Preface

        1.1. Market Definition and Scope

        1.2. Market Segmentation

        1.3. Key Research Objectives

        1.4. Research Highlights

    2. Assumptions and Research Methodology

    3. Executive Summary: Global Cardiac Resynchronization Therapy Systems Market

    4. Market Overview

        4.1. Introduction

            4.1.1. Product Definition

            4.1.2. Industry Evolution/Developments

        4.2. Overview

        4.3. Market Dynamics

            4.3.1. Drivers

            4.3.2. Restraints

            4.3.3. Opportunities

        4.4. Global Cardiac Resynchronization Therapy Systems Market Analysis and Forecast, 2017–2031

    5. Key Insights

        5.1. Pipeline Analysis

        5.2. Key Product/Brand Analysis

        5.3. Key Mergers & Acquisitions

        5.4. COVID-19 Pandemic Impact on Industry

    6. Global Cardiac Resynchronization Therapy Systems Market Analysis and Forecast, by Product Type

        6.1. Introduction & Definition

        6.2. Key Findings/Developments

        6.3. Market Value Forecast, by Product Type, 2017–2031

            6.3.1. Cardiac Resynchronization Therapy Pacemaker

            6.3.2. Cardiac Resynchronization Therapy Defibrillator

        6.4. Market Attractiveness Analysis, by Product Type

    7. Global Cardiac Resynchronization Therapy Systems Market Analysis and Forecast, by Region

        7.1. Key Findings

        7.2. Market Value Forecast, by Region, 2017–2031

            7.2.1. North America

            7.2.2. Europe

            7.2.3. Asia Pacific

            7.2.4. Latin America

            7.2.5. Middle East & Africa

        7.3. Market Attractiveness Analysis, by Region

    8. North America Cardiac Resynchronization Therapy Systems Market Analysis and Forecast

        8.1. Introduction

        8.2. Key Findings

        8.3. Market Value Forecast, by Product Type, 2017–2031

            8.3.1. Cardiac Resynchronization Therapy Pacemaker

            8.3.2. Cardiac Resynchronization Therapy Defibrillator

        8.4. Market Value Forecast, by Country, 2017–2031

            8.4.1. U.S.

            8.4.2. Canada

        8.5. Market Attractiveness Analysis

            8.5.1. By Product Type

            8.5.2. By Country

    9. Europe Cardiac Resynchronization Therapy Systems Market Analysis and Forecast

        9.1. Introduction

        9.2. Key Findings

        9.3. Market Value Forecast, by Product Type, 2017–2031

            9.3.1. Cardiac Resynchronization Therapy Pacemaker

            9.3.2. Cardiac Resynchronization Therapy Defibrillator

        9.4. Market Value Forecast, by Country/Sub-region, 2017–2031

            9.4.1. Germany

            9.4.2. U.K.

            9.4.3. France

            9.4.4. Italy

            9.4.5. Spain

            9.4.6. Rest of Europe

        9.5. Market Attractiveness Analysis

            9.5.1. By Product Type

            9.5.2. By Country/Sub-region

    10. Asia Pacific Cardiac Resynchronization Therapy Systems Market Analysis and Forecast

        10.1. Introduction

        10.2. Key Findings

        10.3. Market Value Forecast, by Product Type, 2017–2031

            10.3.1. Cardiac Resynchronization Therapy Pacemaker

            10.3.2. Cardiac Resynchronization Therapy Defibrillator

        10.4. Market Value Forecast, by Country/Sub-region, 2017–2031

            10.4.1. China

            10.4.2. Japan

            10.4.3. India

            10.4.4. Australia & New Zealand

            10.4.5. Rest of Asia Pacific

        10.5. Market Attractiveness Analysis

            10.5.1. By Product Type

            10.5.2. By Country/Sub-region

    11. Latin America Cardiac Resynchronization Therapy Systems Market Analysis and Forecast

        11.1. Introduction

        11.2. Key Findings

        11.3. Market Value Forecast, by Product Type, 2017–2031

            11.3.1. Cardiac Resynchronization Therapy Pacemaker

            11.3.2. Cardiac Resynchronization Therapy Defibrillator

        11.4. Market Value Forecast, by Country/Sub-region, 2017–2031

            11.4.1. Brazil

            11.4.2. Mexico

            11.4.3. Rest of Latin America

        11.5. Market Attractiveness Analysis

            11.5.1. By Product Type

            11.5.2. By Country/Sub-region

    12. Middle East & Africa Cardiac Resynchronization Therapy Systems Market Analysis and Forecast

        12.1. Introduction

        12.2. Key Findings

        12.3. Market Value Forecast, by Product Type, 2017–2031

            12.3.1. Cardiac Resynchronization Therapy Pacemaker

            12.3.2. Cardiac Resynchronization Therapy Defibrillator

        12.4. Market Value Forecast, by Country/Sub-region, 2017–2031

            12.4.1. GCC Countries

            12.4.2. South Africa

            12.4.3. Rest of Middle East & Africa

        12.5. Market Attractiveness Analysis

            12.5.1. By Product Type

            12.5.2. By Country/Sub-region

    13. Competition Landscape

        13.1. Market Player - Competitive Matrix (by Tier and Size of Companies)

        13.2. Market Share Analysis, by Company (2022)

        13.3. Company Profiles

            13.3.1. Medtronic

                13.3.1.1. Company Overview

                13.3.1.2. Product Portfolio

                13.3.1.3. SWOT Analysis

                13.3.1.4. Financial Overview

                13.3.1.5. Strategic Overview

            13.3.2. Boston Scientific Corporation

                13.3.2.1. Company Overview

                13.3.2.2. Product Portfolio

                13.3.2.3. SWOT Analysis

                13.3.2.4. Financial Overview

                13.3.2.5. Strategic Overview

            13.3.3. Abbott

                13.3.3.1. Company Overview

                13.3.3.2. Product Portfolio

                13.3.3.3. SWOT Analysis

                13.3.3.4. Financial Overview

                13.3.3.5. Strategic Overview

            13.3.4. LivaNova PLC

                13.3.4.1. Company Overview

                13.3.4.2. Product Portfolio

                13.3.4.3. SWOT Analysis

                13.3.4.4. Financial Overview

                13.3.4.5. Strategic Overview

            13.3.5. BIOTRONIK SE & Co. KG

                13.3.5.1. Company Overview

                13.3.5.2. Product Portfolio

                13.3.5.3. SWOT Analysis

                13.3.5.4. Financial Overview

                13.3.5.5. Strategic Overview

            13.3.6. Asahi Kasei Medical Co., Ltd.

                13.3.6.1. Company Overview

                13.3.6.2. Product Portfolio

                13.3.6.3. SWOT Analysis

                13.3.6.4. Financial Overview

                13.3.6.5. Strategic Overview

            13.3.7. NIHON KOHDEN CORPORATION

                13.3.7.1. Company Overview

                13.3.7.2. Product Portfolio

                13.3.7.3. SWOT Analysis

                13.3.7.4. Financial Overview

                13.3.7.5. Strategic Overview

            13.3.8. Schiller AG

                13.3.8.1. Company Overview

                13.3.8.2. Product Portfolio

                13.3.8.3. SWOT Analysis

                13.3.8.4. Financial Overview

                13.3.8.5. Strategic Overview

    List of Tables

    Table 01: Global Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Product Type, 2017–2031

    Table 02: Global Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Region, 2017–2031

    Table 03: North America Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Country, 2017–2031

    Table 04: North America Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Product Type, 2017–2031

    Table 05: Europe Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031

    Table 06: Europe Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Product Type, 2017–2031

    Table 07: Asia Pacific Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031

    Table 08: Asia Pacific Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Product Type, 2017–2031

    Table 09: Latin America Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031

    Table 10: Latin America Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Product Type, 2017–2031

    Table 11: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031

    Table 12: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast, by Product Type, 2017–2031

    List of Figures

    Figure 01: Global Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) and Distribution (%), by Region, 2022 and 2031

    Figure 02: Global Cardiac Resynchronization Therapy Systems Market Revenue (US$ Mn), by Product Type, 2022

    Figure 03: Global Cardiac Resynchronization Therapy Systems Market Value Share, by Product Type, 2022

    Figure 04: Global Cardiac Resynchronization Therapy Systems Market Value Share, by Region, 2022

    Figure 05: Global Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast, 2023–2031

    Figure 06: Global Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2022 and 2031

    Figure 07: Global Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type, 2023-2031

    Figure 08: Global Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Region, 2022 and 2031

    Figure 09: Global Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Region, 2023-2031

    Figure 10: North America Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031

    Figure 11: North America Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Country, 2023–2031

    Figure 12: North America Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Country, 2022 and 2031

    Figure 13: North America Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2022 and 2031

    Figure 14: North America Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type, 2023–2031

    Figure 15: Europe Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031

    Figure 16: Europe Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Country/Sub-region, 2023–2031

    Figure 17: Europe Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Country/Sub-region, 2022 and 2031

    Figure 18: Europe Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2022 and 2031

    Figure 19: Europe Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type, 2023–2031

    Figure 20: Asia Pacific Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031

    Figure 21: Asia Pacific Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Country/Sub-region, 2023–2031

    Figure 22: Asia Pacific Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Country/Sub-region, 2022 and 2031

    Figure 23: Asia Pacific Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2022 and 2031

    Figure 24: Asia Pacific Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type, 2023–2031

    Figure 25: Latin America Cardiac Resynchronization Therapy Systems Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031

    Figure 26: Latin America Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Country/Sub-region, 2023–2031

    Figure 27: Latin America Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Country/Sub-region, 2022 and 2031

    Figure 28: Latin America Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2022 and 2031

    Figure 29: Latin America Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type, 2023–2031

    Figure 30: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Size (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031

    Figure 31: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Country/Sub-region, 2023–2031

    Figure 32: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Country/Sub-region, 2022 and 2031

    Figure 33: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Value Share Analysis, by Product Type, 2022 and 2031

    Figure 34: Middle East & Africa Cardiac Resynchronization Therapy Systems Market Attractiveness Analysis, by Product Type, 2023–2031

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