US Cardiac Resynchronization Therapy Market

US Cardiac Resynchronization Therapy Market Executive Summary

US Cardiac Resynchronization Therapy Market valued at $2,016 Mn in 2022, projected to reach $2,554 Mn by 2030 with a 3% CAGR.

Cardiac resynchronization therapy (CRT) involves the use of a pacemaker to restore the proper rhythm of the heart through a minor surgical procedure. Implanted under the skin, the CRT pacemaker coordinates the timing between the upper (atria) and lower (ventricles) heart chambers, as well as the synchronization between the left and right sides of the heart. This intervention is particularly crucial in cases of heart failure, where inadequate pumping leads to fluid accumulation in the lungs and legs due to the desynchronized beating of the two lower chambers (ventricles). Additionally, if serious heart rhythm issues are identified, an implantable cardioverter defibrillator (ICD) may be recommended by the doctor and can be combined with CRT therapy. Connecting wires from the pacemaker to both sides of the heart, the CRT device employs biventricular pacing, sending electrical signals to the ventricles to ensure coordinated contractions and optimize overall heart function.

In the US, approximately 6.2 Mn adults aged over 18, roughly 2.7%, are believed to have heart failure. Prevalence rises with age, affecting over 4.6% of people over 50 and 10.0% over 70, suggesting an increase in patients due to the aging population. Rising obesity rates and associated risk factors may exacerbate this trend. Heart failure is the leading cause of death in the US across genders and racial backgrounds, with healthcare expenses projected at $239.9 Bn annually.

Novartis collaborates with Abbott to study the combination of Entresto medication with Abbott's CardioMEMS HF System, aiming to personalize heart failure management using both pharmaceutical and medical technology. Entresto, co-developed with Johnson & Johnson, reduces hospitalization risks in chronic heart failure. AstraZeneca leads heart failure research with Farxiga (dapagliflozin), showing promise in reducing hospitalizations and mortality. These collaborations highlight the pharmaceutical industry's dedication to innovative therapeutic approaches and medical technologies for addressing heart failure complexities.

Market Dynamics

Market Growth Drivers

Increasing Incidence of Heart Failure: The US is witnessing a substantial public health challenge with the surge in heart failure cases among Mns of adults. Factors such as the aging demographic and the growing prevalence of risk elements like obesity and diabetes are fuelling a notable uptick in newly identified cases. Consequently, this trend results in an expanded pool of potential patients for Cardiac Resynchronization Therapy (CRT).

Technological Advancements: The increasing popularity of Cardiac Resynchronization Therapy (CRT) among both patients and physicians can be attributed to technological advancements. These include the development of smaller, more energy-efficient devices with prolonged battery life and advanced functionalities. Patient care is significantly enhanced through features such as remote monitoring and telemedicine capabilities, leading to better outcomes after implantation. The future outlook for CRT appears promising, especially with emerging technologies like leadless pacemakers and artificial intelligence-driven algorithms, indicating potential advancements in the field.

Increased Awareness and Education: Healthcare organizations and patient advocacy groups are working to raise public knowledge about heart failure and treatment options like CRT using public health campaigns and educational initiatives. Improved patient understanding and knowledge may lead to early diagnosis, prompt therapies, and even superior overall results.

Market Restraints

High Device Cost: The cost of Cardiac Resynchronization Therapy (CRT) devices is significant, ranging from tens of thousands to hundreds of thousands of dollars. This considerable financial burden could potentially be a barrier for patients, especially those with financial limitations or inadequate insurance coverage.

Limited Access to Specialists: CRT device implantation requires specialized knowledge and instruction. In certain parts of the US, access to therapy may be impeded by the limited availability of electrophysiologists and other professionals with the necessary training.

Insufficient Data Regarding Long-Term Advantages: While there is evidence supporting the immediate benefits of CRT for specific patients, a more thorough comprehension of its cost-effectiveness and impact on mortality rates necessitates further long-term data.

Healthcare Policies and Regulatory Landscape

In the US, diverse authorities oversee the regulatory framework and healthcare policies concerning therapeutic drugs. The Food and Drug Administration (FDA), a governmental body, plays a pivotal role in conducting comprehensive evaluations before a product is introduced to the market, ensuring post-market safety monitoring, and granting approval for new pharmaceuticals. The FDA's Centre for Drug Evaluation and Research (CDER) is specifically responsible for pre-market assessments, drug regulation, and the formulation of guidelines for drug development. Within the U.S. Department of Justice, the Drug Enforcement Administration (DEA) is assigned the responsibility of enforcing regulations to prevent the misuse and diversion of prohibited narcotics. The Centres for Medicare & Medicaid Services (CMS) wields substantial influence over a significant portion of the population's access to pharmaceuticals by overseeing reimbursement policies for medications covered by Medicare and Medicaid.

Competitive Landscape

Key Players

• Abbott
• Biotronik
• Boston Scientific
• Medtronic
• St. Jude Medical
• Sorin Group
• Siemens Healthineers
• Philips Healthcare
• GE Healthcare
• Esaote