Cardiac Resynchronization Therapy (CRT) Market share is projected to reach USD 10.94 Billion by 2030, growing at a CAGR of 7%: Straits Research – GlobeNewswire

New York, United States, June 21, 2022 (GLOBE NEWSWIRE) — Cardiac resynchronization therapy is a treatment that assists patients with arrhythmias and other disease-related abnormalities restore their heartbeat. It is especially valuable for those who have heart failure since their left and right heart segments do not pump together. The major reason for the market growth is rapid technological advancement. Prevalence of a sedentary lifestyle, increasing older population, and growing incidences of cardiovascular illnesses are all driving overall growth.

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Growing Incidence of Cardiovascular Diseases to Propel the Global Cardiac Resynchronization Therapy Market

Despite advances in diagnosis and intervention, unexpected cardiac death remains a primary cause of death, accounting for roughly half of all cardiovascular-related deaths. The rising prevalence of heart illnesses and comorbidities will drive up the market for cardiac resynchronization therapy devices. One of the primary reasons for mortality worldwide is heart failure. As per the CDC, over 6.2 million persons in the United States are suffering from heart problems as of September 2020.

Furthermore, the American College of Cardiology Foundation reports that the prevalence of cardiovascular disorders has nearly quadrupled from 271 million in 1990 to 523 million in 2019. As a result, the higher incidence of cardiovascular disorders is projected to augment a variety of treatment alternatives, particularly cardiac resynchronization therapy gadgets.

Technological Advancements to Offer Growth Opportunities for Global Cardiac Resynchronization Therapy Market

CRTs have received various upgrades, including improved battery life and lower size. As a consequence, producers have prioritized the development of new CRTs.

Furthermore, technical developments and digitization in healthcare technologies, as well as an increase in emerging regions with an expanding geriatric population profile, will generate new opportunities for the cardiac resynchronization treatment market during the anticipated period of 2022-2030.

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Impact of COVID-19

COVID-19, an infectious respiratory disease, has sparked enormous movements in the healthcare industry, with firms, countries, and organizations racing to discover therapeutic and preventive approaches. Countries, organizations, and corporations have been devising strategies and reacting accordingly to the current scenario. COVID-19’s impact was exacerbated in several nations by other catastrophes, such as African swine flu or wildfires.

The CRT devices sector, like other enterprises, has been severely impacted. COVID-19 has had a significant influence on the market, including supply chain problems, a drop in sales, a decrease in demand due to the abandonment of elective surgeries, and operational challenges. For example, Abbott, a global leader in the cardiac rhythm management device industry, reported a reduction in cardiovascular sales growth in 2020.

Market Recovery Timeline

Following the early shock and uncertainty caused by COVID-19, corporations and organizations began making remedial efforts to assist the economy and companies in recovering. Policy and monetary expansion, relaxation of constraints, limited exemptions, and other growth strategies were among the measures implemented. In 2020, Abbott, for example, will launch four diagnostic tests for COVID-19. The high returns on these sales compensate for revenue losses in other company divisions. 

The COVID-19 epidemic has advanced the use of telemedicine to electronically monitor and manage cardiac patients. This pattern is predicted to continue following the pandemic. Remote surveillance has developed as a strategy for reducing the danger of viral exposure, particularly in cardiac patients. …….



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