Published on : Apr 05, 2018
Albany, New York, April 5, 2018: According to the latest study, the prevalence of heart failure in the coming years is expected to increase rapidly worldwide due to change in lifestyle and various factors such as malnutrition, genetic mutations, and other. This, as a result, has influenced the demand for cardiac resynchronization therapy around the world. These are used to treat conditions such as abnormal heart rhythms and heart failure. Considering these facts, Market Research Hub (MRH) has broadcasted a study titled “Cardiac Resynchronization Therapy Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2025” to its wide database, which highlights global market scenario covering current and future prospects. The main motive of the study is to provide a thorough analysis of the market trends, factors in the current market along with industry growth prospects from 2013 to 2017, and forecast to 2025.
As per the report findings, the cardiac resynchronization therapy devices have been evolved from pacemaker technology. Due to use of cardiac resynchronization therapy for treatment of heart failure patients, there are lower number of deaths occurring as a result of sudden cardiac arrest in heart failure patients. It has been clearly stated in the study that the global cardiac resynchronization therapy systems market, which was valued approximately US$ 3.1 Bn in 2016, is anticipated to register CAGR of over 5.3% from 2017 to 2025 and reach a value of approximately US$ 4.8 Bn by 2025.
Geographical Expansion and Segmental Outlook
In order to provide accurate results, the report majorly focuses on some of the major regions including the Middle East and Africa (MEA), Europe, Asia Pacific, North America, and South America. The regional analysis section is a crucial segment of the report, which enlightens the reader about the market status and trending factors and drivers prompting the market shares for each region.
According to the findings, North America contributed for the largest share of 43.0% of the global cardiac resynchronization therapy systems market in the year 2016. Apart from North America, Asia Pacific may show a promising market for the cardiac resynchronization therapy systems because of increasing population and increasing healthcare facilities.
Moving further, the market has been studied on the basis of its major product type which includes Cardiac Resynchronization Therapy Pacemaker and Cardiac Resynchronization Therapy Defibrillator. Cardiac resynchronization therapy defibrillator (CRT-D) is implanted in heart failure patients who are at a high risk of sudden cardiac arrest. It has been analyzed that this segment is the major segment contributing the maximum share in terms of revenue to the Global Cardiac Resynchronization Therapy Systems Market.
At last, the report also examines the competitive landscape in the global market and profiles some of the key players in this market in terms of company overview, company financials, strategy and recent developments. Key companies described in the report include Boston Scientific Corporation, Abbott, LivaNova PLC, Medtronic, BIOTRONIK SE & Co. KG.
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