Cardiac Resynchronization Therapy Devices Market size is estimated to be USD 3.5 Billion in 2024 and is expected to reach USD 5.8 Billion by 2033 at a CAGR of 6.1% from 2026 to 2033.
The South Korea Cardiac Resynchronization Therapy Devices Market is experiencing significant growth, driven by an aging population and increased prevalence of cardiovascular diseases. In 2023, the market generated a revenue of USD 103.2 million and is projected to reach USD 163.2 million by 2030, reflecting a compound annual growth rate (CAGR) of 6.8% from 2024 to 2030.
Cardiac Resynchronization Therapy (CRT) devices are essential in treating heart failure patients with ventricular dyssynchrony. These devices are categorized into two main types:
CRT-Defibrillators (CRT-Ds): Combining the functions of a pacemaker and a defibrillator, CRT-Ds not only resynchronize the heart's ventricles but also provide life-saving defibrillation if a dangerous arrhythmia is detected.
CRT-Pacemakers (CRT-Ps): Focused solely on resynchronizing the heart's ventricles, CRT-Ps help improve the heart's efficiency and alleviate heart failure symptoms.
In 2023, CRT-Defibrillators dominated the market, holding a revenue share of 61.43%. However, CRT-Pacemakers are anticipated to be the most lucrative segment, registering the fastest growth during the forecast period. This surge is attributed to technological advancements, increasing physician awareness, and patient preference for less invasive treatment options.
The aging demographic in South Korea significantly influences market dynamics. By 2026, over 20% of the population is expected to be aged 65 years and older. This shift results in a higher incidence of chronic diseases such as congestive heart failure, hypertension, and arrhythmia, thereby escalating the demand for CRT devices.
Healthcare institutions, particularly hospitals and cardiac centers, are the primary end-users of CRT devices. These facilities require devices that offer reliability, longevity, and advanced features to cater to the complex needs of heart failure patients. Consequently, manufacturers are investing in research and development to produce devices that meet these stringent requirements, focusing on enhanced battery life, remote monitoring capabilities, and improved patient comfort.
Leading global players in the South Korean market include Medtronic PLC, Abbott Laboratories, Boston Scientific Corp, BIOTRONIK, and MicroPort Scientific Corp. These companies are expanding their presence through strategic partnerships, mergers, and acquisitions, aiming to enhance their product portfolios and address the evolving demands of healthcare providers and patients.
In summary, the South Korea Cardiac Resynchronization Therapy Devices Market is poised for substantial growth, driven by demographic shifts and technological innovations. As the prevalence of heart failure increases, the demand for effective CRT devices will continue to rise, presenting opportunities for industry stakeholders to innovate and meet the healthcare challenges of an aging population.
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Medtronic
St. Jude Medical (Abbott)
Boston Scientific
Biotronik
MicroPort
Medico
Lepu (Qinming Medical)
IMZ
Cardioelectronica
Pacetronix
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Cardiac Resynchronization Therapy Devices Market
Bi-Ventricular Pacemakers
Implantable Cardioverter Defibrillators (ICDs)
Leadless Pacemakers
Cardiac Resynchronization Therapy Defibrillators (CRT-D)
Cardiac Resynchronization Therapy Pacemakers (CRT-P)
Conventional CRT Devices
Remote Monitoring CRT Devices
Wireless Communication Technologies
Heart Failure
Bradycardia Management
Atrial Fibrillation
Post-Atrial Fibrillation Treatment
Hospitals
Cardiac Centers
Ambulatory Surgical Centers
Home Care Settings
Direct Sales
Distributors
Online Sales
Third-Party Vendors
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Cardiac Resynchronization Therapy Devices Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Cardiac Resynchronization Therapy Devices Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Cardiac Resynchronization Therapy Devices Market, By Type
6. South Korea Cardiac Resynchronization Therapy Devices Market, By Application
7. South Korea Cardiac Resynchronization Therapy Devices Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Cardiac Resynchronization Therapy Devices Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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