As per the report published by Allied Market Research, the Cardiac Resynchronization Therapy Market was pegged at $965.6 million in 2019, and is projected to reach $983.3 million by 2027, growing at a CAGR of 4.9% from 2020 to 2027.
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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.
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.
The U.S. cardiac resynchronization therapy market is segmented on the basis of CRT pacemaker segment is estimated to manifest the highest CAGR of 5.7% during the forecast period. However, the CRT defibrillator segment held the largest share in 2019, accounted for more than four-fifths of the market.
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On the basis of application, the intraventricular dyssynchrony segment is anticipated to register the highest CAGR of 5.2% during the forecast period. In addition, the segment dominated the market in terms of revenue in 2019, contributing to more than three-fourths of the market.
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.
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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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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