Europe Cardiac Resynchronization Therapy (CRT) Market Size, Share & Trends Analysis Report By Product (CRT-Defibrillator, CRT-Pacemaker), By End-Use (Hospitals, Cardiac Centers, Others) and By Country(U.K., Germany, France, Italy, Russia, Nordic, Benelux, Rest of Europe) Forecasts, 2024-2032

Market Overview

The Europe cardiac resynchronization therapy market witnessed significant growth in the past and is expected to grow at a CAGR of 7.1% 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.

The CRT-D segment had the biggest market share because of high demand, accounting for 58.3% of all products in 2021. The fastest growth rate is anticipated in the CRT-P segment due to numerous technological developments. The top competitors on the market include Medtronic, Abbott, Boston Scientific Corporation, BIOTRONIK, and MicroPort Scientific Corporation.

Highlights

• CRT-D dominates the market by Product. 
• Hospitals dominate the market by End-User.
• Germany dominates the market by Country.

Market Dynamics

Europe Cardiac Resynchronization Therapy (CRT) Market Drivers

Rising Sedentary Lifestyle

Being physically inactive is associated with more fatalities than smoking, a huge public health concern. Inactivity can result in morbid obesity and the emergence of other chronic diseases like diabetes and heart illnesses. It has frequently been noted that prolonged periods of inactivity worsen the symptoms of CVD in diabetic and atherosclerotic patients who are otherwise physically active. Cardiovascular diseases like angina, myocardial infarction, and stroke are major effects of this lifestyle. Therefore, it is advisable to engage in at least 150 minutes of physical activity every day, with a minimum of 75 minutes, for most people experiencing symptoms of cardiac disorders.

Europe Cardiac Resynchronization Therapy (CRT) Market Restraints

High Cost of Device

The demand for CRT devices is anticipated to be constrained by their high cost, particularly in developing and undeveloped economies. These gadgets are priced differently depending on the brand. Devices that are MRI-compatible cost more than those that are not.

Further restricting the market is that governments in many developing nations, including India, do not offer price caps on these gadgets. This price is greater than the price range of USD 650 to USD 2,600 for automatic external defibrillators. Pacemakers cost anywhere from USD 3,000 to USD 4,000.

Therefore, the high price of CRT is expected to have a detrimental effect on the market.

Europe Cardiac Resynchronization Therapy (CRT) Market Opportunities

Growing Aging Population

Heart illnesses are more common since a large portion of Europe's population is getting older. The need for cardiac therapies, including CRT, is anticipated to increase as the population ages, creating prospects for market expansion.

The likelihood of acquiring heart issues appears to increase with age. Conduction abnormalities and heart failure are more common in older people due to age-related changes in the heart, including decreased contractility, decreased conduction efficiency, and anatomical abnormalities. Cardiovascular disorders are the main cause of death in Europe, according to the European Heart Network, and they significantly strain healthcare systems.

The need for cutting-edge treatment alternatives like CRT is anticipated to rise due to the growing frequency of cardiac illnesses among the elderly. CRT helps improve cardiac function, symptom reduction, and quality of life for patients with heart failure and electrical conduction anomalies.

Regional Analysis

Segmental Analysis

The Europe cardiac resynchronization therapy (CRT) market is segmented based on Product, End-User, and Country.

Based on OS, the European market is segmented by CRT-D and CRT-P.

CRT-D dominated the market over the forecast period.

Based on End-User, the European market is segmented by Hospitals, Cardiac Centre.

Hospitals dominated the market over the forecast period.

Regional Analysis of the Cardiac Resynchronization Therapy (CRT) Market

The Europe cardiac resynchronization therapy market is segmented by country into the U.K, Germany, France, Italy, and Spain. Germany dominates the country market and is expected to grow at a CAGR of 6.4% during the forecast period.

In the upcoming years, a significant increase in demand for cardiac resynchronization therapy is anticipated in Europe. The existence of significant market participants, the high prevalence of heart failure, and the advanced healthcare system explain this. For instance, the European Society of Cardiology questioned 11,088 patients between 2015 and 2017, accounting for 11% of the anticipated total number of implantations in the 42 participating countries in Europe. The results were released in December 2019. Clinical practice varied significantly by area, according to the research. A permanent ICD or pacemaker update accounted for about 28% of surgeries. 30% of CRT implants were pacemakers, and 70% were defibrillators. The UK, Germany, France, Italy, Spain, Hungary, the Czech Republic, Poland, and Slovakia had the most patients recruited for implantation.

Recent Developments

• Feb 2023- LivaNova reported that its leadless pacemaker, the MicraTM Transcatheter Pacing System, had obtained FDA approval.
• Mar 2023- Medico S.R.L. reported that its CardioCare Home Monitoring System, a remote patient monitoring system for cardiac implantable electronic devices (CIEDs), had achieved CE Mark approval.