The global cardiac resynchronization therapy market size was valued at USD 4.85 billion in 2020, and is predicted to be worth around USD 10.8 billion by 2030, registering a CAGR of 7.2% during the forecast period 2022 to 2030.
Cardiac Resynchronization Therapy Market (By Product: CRT-Defibrillator, CRT-Pacemaker; By End-user: Hospital, Cardiac Center) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030
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Report Coverage
| Report Scope | Details |
| Market Size | US$ 10.8 billion by 2030 |
| Growth Rate | CAGR of 7.2% From 2022 to 2030 |
| Largest Market | North America |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Product, End-user |
Growth Factors
The key factors driving the market include constant product advancements, growing initiatives by key companies, and increasing product adoption by end-users. The market was significantly impacted by the COVID-19 pandemic. Some of the major impacts of the pandemic on the market include supply chain disruptions, fall in sales, demand slowdown due to cancellation of elective procedures, and operational hurdles. For instance, Abbott, a market leader in the cardiac rhythm management device industry, reported a decline in revenue growth of the cardiovascular business in 2020.
Growing product developments, aging population, initiatives by key companies, and prevalence of Cardiovascular Diseases (CVDs) are some of the key drivers of this market.
Several key companies, such as Medtronic, Boston Scientific, and Microport, reported a negative impact of COVID-19 on their financial performance and business activities. Microport, for instance, reported a 16.2% decline in its cardiac rhythm management business in 2020.
Key Players
- Medtronic
- Abbott
- Boston Scientific Corp.
- Biotronik SE & Co., KG
- MicroPort Scientific Corp.
Market Segmentation
- By Product
- CRT-Defibrillator
- CRT-Pacemaker
- By End-user
- Hospital
- Cardiac Center
- Others
- Regional
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- Saudi Arabia
- UAE
- North America
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Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2019-2021) and forecast (2022-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Cardiac Resynchronization Therapy Market, By Product
7.1. Cardiac Resynchronization Therapy Market, by Product, 2021-2030
7.1.1. CRT-Defibrillator
7.1.1.1. Market Revenue and Forecast (2019-2030)
7.1.2. CRT-Pacemaker
7.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 8. Global Cardiac Resynchronization Therapy Market, By End-user
8.1. Cardiac Resynchronization Therapy Market, by End-user, 2021-2030
8.1.1. Hospital
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Cardiac Center
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Others
8.1.3.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Cardiac Resynchronization Therapy Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2019-2030)
9.1.2. Market Revenue and Forecast, by End-user (2019-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Product (2019-2030)
9.1.3.2. Market Revenue and Forecast, by End-user (2019-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Product (2019-2030)
9.1.4.2. Market Revenue and Forecast, by End-user (2019-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2019-2030)
9.2.2. Market Revenue and Forecast, by End-user (2019-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Product (2019-2030)
9.2.3.2. Market Revenue and Forecast, by End-user (2019-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Product (2019-2030)
9.2.4.2. Market Revenue and Forecast, by End-user (2019-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Product (2019-2030)
9.2.5.2. Market Revenue and Forecast, by End-user (2019-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Product (2019-2030)
9.2.6.2. Market Revenue and Forecast, by End-user (2019-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2019-2030)
9.3.2. Market Revenue and Forecast, by End-user (2019-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Product (2019-2030)
9.3.3.2. Market Revenue and Forecast, by End-user (2019-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Product (2019-2030)
9.3.4.2. Market Revenue and Forecast, by End-user (2019-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Product (2019-2030)
9.3.5.2. Market Revenue and Forecast, by End-user (2019-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Product (2019-2030)
9.3.6.2. Market Revenue and Forecast, by End-user (2019-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2019-2030)
9.4.2. Market Revenue and Forecast, by End-user (2019-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Product (2019-2030)
9.4.3.2. Market Revenue and Forecast, by End-user (2019-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Product (2019-2030)
9.4.4.2. Market Revenue and Forecast, by End-user (2019-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Product (2019-2030)
9.4.5.2. Market Revenue and Forecast, by End-user (2019-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Product (2019-2030)
9.4.6.2. Market Revenue and Forecast, by End-user (2019-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2019-2030)
9.5.2. Market Revenue and Forecast, by End-user (2019-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Product (2019-2030)
9.5.3.2. Market Revenue and Forecast, by End-user (2019-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Product (2019-2030)
9.5.4.2. Market Revenue and Forecast, by End-user (2019-2030)
Chapter 10. Company Profiles
10.1. Medtronic
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Abbott
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Boston Scientific Corp.
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Biotronik SE & Co., KG
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. MicroPort Scientific Corp
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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