Cardiac Resynchronization Therapy (CRT) Market To Grow Enormously with Size Worth $9.2 Billion By 2025 |Grand View Research, Inc.


The global cardiac resynchronization therapy (CRT) market size was valued at USD 4.74 billion in 2016 and is expected to grow at a CAGR of 7.9% over the forecast period. Increasing incidence of heart failure(s) & other cardiac disorders, stable R&D investment for technological advancements by players, and rising sedentary lifestyle amongst the population are expected to promote growth over the forecast period.
With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.
The Cardiac Resynchronization Therapy (CRT) market has been in existence since 2001 when the first device was introduced in August by Medtronic Plc. This product “InSync,” was launched after it showcased substantial improvement in exercising capacity of patients, Peak Volume Oxygen Consumption (PVO2), and the reduction of QRS duration recorded during the Electrocardiograph (ECG) . This system comprises of leads/wires, a computer, and a battery enclosed in a metal case.
The pulse generator of the system weighed about 85 gm and underwent trials until April 2011, when it displayed promising results in terms of enhancing the standard of life for patients suffering from cardiac myopathies and heart failure.
According to statistics published by the Sudden Cardiac Arrest Foundation in 2016, about 6.0 million people within the U.S. region suffer from cardiac disorders, of which 0.8 million are affected by atrioventricular block leading to cardiac failure. Such a huge number leads to an increased cost of about USD 20.0-56.0 billion annually. CRT devices are being predominantly used to prevent the surgical cost and readmission rate in hospitals, thereby propelling its growth.
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Following this, various such systems were launched and the U.S. FDA provided approvals to more than dozens of these products. The amalgamation of Implantable Cardioverter Defibrillators (ICD) with CRT pacemakers was further studied and formed the second-generation of the products. The Cardiac Resynchronization Therapy Defibrillators (CRT-D) devices are said to reduce the mortality rate in comparison to the sole use of CRT pacemakers.
As of 2015, the top contenders of the market space are working toward the development of the third-generation products, highlighted to have features such as:
- Wireless connectivity
- Internal placement of the pulse generator
- Prolonged battery life
Further Key Findings From the Study Suggest:
·         CRT-D products are expected to dominate over the forecast period. According to a paper published in the Journal of Cardiovascular Electrophysiology, more than half of the CRT product implants are done using CRT-D.
·         Asia Pacific and Latin American region are expected to witness lucrative growth and contribute over 30.0% of the revenue in 2025. This has been attributed to the rapid expansion of industry players within these regions in terms of manufacturing as well as distribution.
·         Competitive pricing and necessity for high operational optimization are expected to help companies strengthen their foothold in growing economies such as India, Mexico, and others.
·         Additionally, countries such as Japan are also observed to register high adoption rate for quadripolar lead-based CRT-D devices. This is expected further boost market growth.
·         Major market players of the industry are Medtronic Plc., BIOTRONIK, LivaNova Plc., St. Jude Medical, and Boston Scientific. However, a more assorted marketplace exists for vendors of leads (wireless and wired) that are used in the system.
An ancillary factor supporting growth of this industry is the increasing volume of geriatric patients across the globe. They are more susceptible to illness and are anticipated to require these resynchronization therapy products to facilitate healthy activity of the heart. Apart from heart failure, certain conditions such as arrhythmias, congenital heart disease, and atrial fibrillation also demand the usage of these devices.
In order to raise awareness and promote the developments in this market, guidelines have been formulated by agencies such as the European Society of Cardiology and the European Heart Rhythm Association. These guidelines have been documented into three subsets depending on the type of patient to provide accurate decision making.
In terms of technological advancements, as of 2016, first as well as second-generation products of the CRT market are available. Furthermore, a third-generation product is under way and Medtronic has become a pioneer by gaining FDA approval for two MRI-Safe CRT-D devices in 2016. The third-generation products are aimed at facilitating MRI testing of patients implanted with these devices without the fear of incurring any complications or fatalities.
The aforementioned attributes are expected to provide:
- Enhanced performance owing to pacing from within the heart chambers
- Reduced number of readmissions at the hospital
- Reduced cost
- Elongation of the replacement period to over 10 years
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Grand View Research has segmented the global CRT market on the basis of product:
CRT Product Outlook (Revenue, USD Million, 2014 - 2025)
·         CRT-D
·         CRT-P
The wireless connectivity is expected to benefit the market by catering to currently non-responding heart failure patients, thereby increasing the target population and boosting the demand.
However, a device equipped with all the aforementioned features is still in its nascent stage of development and may become commercially viable post 2019. If these products are introduced over the forecast period, it may lead to an exponential growth of the industry.
A few advancements currently being explored by the market players are:
- LivaNova, in 2016, gained FDA approval for its third-generation PLATINUM CRT-D and ICD devices with a projected shelf life of 10 to 13 years.
- Research work is being performed by EBR Systems post the approval by the FDA for their Wireless Stimulation Endocardially (WiSE) technology. As of 2015, this technology is being used in the European region, but it will be investigated within the U.S. territory. This technology is closest in terms of the aforementioned features and would facilitate pacing by placement within the left ventricle of the heart.
- Besides advancing the existing technology, players such as Medtronic are introducing improved versions of the commercial devices. These products are expected to allow patients to undergo physical examination using techniques such as MRI without experiencing any complication. In 2016, the company launched two such products, Complia MRI Quad CRT-D SureScan and Amplia MRI Quad CRT-D SureScan. These systems also provide the benefit of reduction in readmission rate owing to their AdaptivCRT algorithm that minimizes the atrial fibrillation risk by about 46.0%.
Thus, rigorous R&D activities and routine introduction of enhanced products are expected to expedite the development and growth of the cardiac resynchronization therapy market over the forecast period.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.






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