Published Date : Aug 01, 2016
ALBANY, NY, Aug 01, 2016: MarketResearchReports.biz has announced the addition of a new market study to its offering. The report provides a study of the market for cardiac resynchronization therapy pacemakers (CRT- P) across the globe. The report talks about the existing market scenario and how it will influence the future of the CRT- P market. The report, titled “Global Cardiac Resynchronization Therapy Pacemaker Market 2016-2020,” offers a comprehensive study with in-depth reports of the market landscape, present trends, and the market’s growth prospects over the forecast period.
CRT-P is an implantable device that resynchronizes (re-coordinates) the contraction of two ventricles at the same time, apart from its regular functions as a pacemaker. CRT-P helps improve the contraction of the left ventricle in particular, improving the overall efficiency of the heart. These advantages of a CRT-P over a conventional pacemaker have helped the former in registering a high growth rate in the last few years. According to the report, the global cardiac resynchronization therapy pacemaker market is anticipated to rise at a CAGR of nearly 8% between 2016 and 2020.
The report offers a comprehensive study of market drivers and restraints and their impact on the growth of the market. The rising incidence of cardiovascular diseases such as sick sinus syndrome, cardiac arrest, and bradycardia is primarily driving the market for CRT-P.
In order to reduce the mortality rate of cardiovascular diseases, physicians have started using minimally invasive surgeries for CRT-P implantation for managing heart failures. CRT-Ps are safe and reduce hospital stays, the need for blood transfusions, and the risk of infections, leading to better healing and recovery. These benefits give a great push to the sales of CRT-Ps. Additionally, the growth in demand for CRT-Ps is backed by various government-aided awareness campaigns, which has augmented the popularity of cardiac resynchronization therapy pacemakers amongst the patients.
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However, the lack of professionals in this field poses a great threat to the growth of the CRT-P market. Furthermore, these devices are not designed to cater to young patients. This reduces the scope of CRT-Ps in a market full of alternatives. Moreover, in recent times, the hike in the number of patients facing complications due to implanted CRT-Ps is likely to hinder the growth of the global cardiac resynchronization therapy pacemaker market.
To control the threats posed by the application of lead-based conventional pacemakers, researchers are working on leadless pacemakers that offer several advantages such as maintaining a steady heartbeat and thus ensuring safety. The shortage of skilled personnel has also led to a rise in the popularity of robot-assisted cardiac surgery.
The report presents a detailed study of the market based on various criteria. By geography, the market has been segmented into the Americas, Europe and the Middle East, and Asia Pacific. The Americas are the leading regional segment of the CRT-P market and will represent approximately 54% of the total market by the end of 2020. In the Americas, the demand for cardiovascular diseases has increased owing to the growing occurrence of diabetes and hypertension. Growing investments in research and development and reduction in cost will further propel the sales of CRT-Ps in this region.
The report provides meticulous insights into the competitive landscape of the market. Some of the key vendors in the market are LivaNova, Boston Scientific, BIOTRONIK, Medtronic, and
St. Jude Medical. As per the reports, stiff competition prevails in the global cardiac resynchronization therapy pacemaker market as the vendors are trying new strategies to expand their presence in the market. The growing strength of the leading companies is, however, making it more difficult for new players to enter the market.
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