LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global cardiac resynchronization therapy defibrillator (CRT-D) market to grow at a CAGR of over 8% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global cardiac resynchronization therapy defibrillator market for 2016-2020. According to the report the market is likely to witness rapid growth during the forecast period, owing to the rising prevalence of cardiovascular diseases, changing lifestyles, and availability of better treatment options. Vendors have developed next-generation CRT-D devices that are designed to offer comfort to patients as well as battery longevity.
Technavio healthcare and life sciences analysts highlight the following four factors that are contributing to the growth of the global cardiac resynchronization therapy defibrillator market:
- Increased incidence of cardiac disorders
- Increasing regulatory approvals
- Clinical considerations
- Increased public awareness
Increased incidence of cardiac disorders
Cardiac disorders or heart rhythm disorders such as atrial fibrillation (AF), bradycardia, sick sinus syndrome, atrioventricular blocks, ventricular fibrillation, cardiac arrest, and tachycardia can lead to sudden cardiac death. An estimation by the American Heart Association shows that, in 2011, nearly 326,200 people experienced out-of-hospital cardiac arrests in the US. Of those, only 10.6%, who were treated under emergency medical services by implanting CRT-D devices, survived. Barath Palada, a lead analyst at Technavio for cardiovascular devices, says, “Cardiac rhythm management devices such as automated external defibrillators can be used as a rapid life saving measure for a person with sudden cardiac arrest.”
Increasing regulatory approvals
Manufacturers are seeking many regulatory approvals for their products and are focusing on international sales, which requires approval from a country-specific regulatory board. Regulatory approval can increase their product launches in the market. “Regulatory approvals such as that from the US FDA, CE, and PMDA for CRT-D devices will encourage manufacturers to launch new products with technological advancements,” says Barath.
The switching from CRT-P to CRT-D, owing to clinical considerations, will propel the market growth. Clinical research studies show that CRT-D devices can reduce re-admissions to hospital for individuals with heart failure. In people with ischemic cardiomyopathy or ischemic etiology, CRT-D implantation has showed better survival rate than CRT-P devices. There are incremental benefits in CRT-D devices compared to CRT-P devices, as it reduces the risk of sudden cardiac death (SCD) and improves the left ventricular function.
Increased public awareness
Various government organizations have implemented numerous initiatives to spread awareness about sudden cardiac arrest. For instance, the Heart Rhythm Society has nominated October as Sudden Cardiac Arrest Awareness month to raise awareness about the disorder in the US. The Sudden Cardiac Arrest Coalition, which includes 46 non-profit organizations, aims to increase the survival rate of people affected by sudden cardiac arrest globally. The coalition spreads awareness and funds research about the disorder. It also enables people to gain easy access to life-saving therapies.
The incidence of sudden cardiac attacks has increased the mortality rate in Europe. Therefore, the European Hearth Rhythm Association has conducted several programs to educate people about SCD. The organization collaborated with the US-based Heart Rhythm Society and Asia-Pacific Heart Rhythm Society to further research on ventricular arrhythmia.
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