Market overview of cardiac resynchronization therapy pacemakers (CRT-P)
Technavio’s market research analyst predicts the global cardiac resynchronization therapy pacemaker (CRT-P) market to grow at a CAGR of more than 8% by 2020. The incidence of cardiovascular diseases such as bradycardia, sick sinus syndrome, and cardiac arrest is on the rise across the globe. To decrease the mortality rate of cardiovascular diseases, several medical hospitals have started using CRT-Ps for managing heart failures. Also, physicians are increasingly using minimally invasive (MI) surgeries for CRT-Ps implantation as these procedures are safe, reduce the need for blood transfusions, the risk of infections, and hospital stays, which leads to rapid healing and recovery with better clinical outcome. This shift towards MI methods for the implantation of CRT-Ps will boost the sales of these devices in the coming years.
To overcome the challenges posed due to the use of conventional and lead-based pacemakers, vendors are developing leadless pacemakers which offer several benefits such as safety and helps in maintaining a steady heartbeat. For instance, Medtronic and St. Jude Medical offer leadless pacemakers for implantation in the right ventricle. The surge in the launches and approvals of leadless pacemakers will boost their usage for cardiac resynchronization therapy, thereby propelling the market’s growth.
Geographical segmentation and analysis of the CRT-P market
The Americas will be the largest region in the CRT-P market and will account for around 54% of the total market share by 2020. The rise in the incidences of hypertension, high cholesterol, and diabetes has resulted in the increase of cardiovascular diseases in the region. Factors such as growing investments in R&D and reduction in the selling prices of cardiac devices will propel the sales of CRT-Ps in this region during the forecast period.
Competitive landscape and key vendors
Intense competition prevails in this market where the vendors are implementing various strategies to expand their geographical presence and increase their market shares. They are extensively investing in research activities to develop safe and efficient products and gain regulatory approvals for their launch in the market. More the growing dominance of the leading vendors will restrict the entry of new players in the market during the forecast period.
Key vendors in the market are -
St. Jude Medical
Growth drivers, challenges, and upcoming trends: Robot-assisted cardiac surgery
Upcoming trends such as robot-assisted cardiac surgeries are gaining popularity in the market as they are more accurate and provide a better view of the operative field and easy movement of instruments with precision and control within close-fitting spaces. These intravascular robotics used in cardiovascular procedures prevent human errors and ensure improved outcomes, reduced recovery periods, and minimal pain and discomfort.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the CRT-P market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global CRT-P market?
What are the key market trends impacting the growth of the global CRT-P market?
What are the challenges to market growth?
Who are the key vendors in the global CRT-P market?
What are the market opportunities and threats faced by the vendors in the global CRT-P market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global CRT-P market?
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