The Australian cardiac resynchronization therapy market witnessed significant growth in the past and is expected to grow at a CAGR of 8.4% during the forecast period (2022-2030).
Cardiac resynchronization therapy (CRT) is a treatment that assists the heart in beating at the correct rate. It employs a pacemaker to restore the heartbeat's normal timing pattern. The CRT pacemaker coordinates the synchronization of the heart's upper (atria) and lower (ventricles) chambers. It also regulates the synchronization between the heart's left and right sides.
The market for cardiac resynchronization therapy (CRT) was estimated to be worth USD 5.85 billion in 2021. One of the major trends accelerating market expansion is the rapid advancement of technology. The market is expanding due to sedentary lifestyle adoption, an aging population, and increased cardiovascular disease prevalence.
Ongoing improvements in Cardiac Resynchronization Therapy devices and related technologies are driving the market in Australia. Innovations including multi-point pacing, leadless Cardiac Resynchronization Therapy, and improved programming algorithms increase the effectiveness and safety of Cardiac Resynchronization Therapy. Medical professionals and patients are drawn to these technical developments, increasing demand for the newest Cardiac Resynchronization Therapy technologies and propelling market expansion.
Due to Australia's large geography, receiving specialized cardiac care, particularly CRT, might be difficult. Few cardiac centers are often equipped to perform CRT implantation and follow-up care in rural and regional areas. For patients living outside large urban centers, this geographic barrier causes delays in diagnosis, poor patient treatment, and decreased access to CRT.
A limitation may be the Australian healthcare system's ability to meet the rising demand for CRT. Particularly in rural locations, it can be difficult to find specialized medical personnel, such as cardiologists and electrophysiologists trained in CRT implantation and programming. The current workforce issues could lead to lengthier CRT procedure wait times and difficulty serving the expanding patient base.
The introduction of Cardiac Resynchronization Therapy in Australia is accelerated by collaboration between healthcare practitioners, industry stakeholders, and research organizations. Cardiac resynchronization therapy is encouraged as a standard treatment for eligible patients by multidisciplinary teams collaborating to improve patient care and outcomes. Such cooperative initiatives promote market expansion by assisting in developing recommendations, conducting clinical investigations, and exchanging best practices.
The Australian cardiac resynchronization therapy (CRT) market is segmented based on Product, End-User, and Country.
Based on OS, the Australian market is segmented by CRT-D and CRT-P.
CRT-D dominated the market over the forecast period.
Based on End-Users, the Australian market is segmented by Hospitals, Cardiac Centre.
Hospitals dominated the market over the forecast period.
Regional Analysis of the Cardiac Resynchronization Therapy (CRT) Market
International cardiology societies that recommend guidelines for identifying, managing, and preventing chronic heart failure in the nation include the Cardiac Society of Australia and New Zealand and the National Heart Foundation of Australia. The high prevalence of CHF, awareness campaigns by public & private health organizations, and investments by leading industry participants are anticipated to support market expansion in Australia. For instance, according to the Heart Foundation, 110,000 people in Australia have been diagnosed with heart failure. According to the Australian Institute of Health and Welfare, approximately 42,300 fatalities in 2019 were attributable to cardiovascular illnesses.
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