The Global Congestive Heart Failure (CHF) Treatment Devices Market was valued at USD 17.41 billion in 2021 and growing at a CAGR of 8.26% during the forecast period from 2022 to 2027; it is expected to reach USD 27.96 billion by 2027. The market is expected to grow owing to the rising incidence of Cardiovascular Diseases (CVDs), a surge in the research and development activities in product development, the growing popularity of minimally invasive interventions, and increasing incidences of the aging population. The major MedTech giants in the Global Congestive Heart Failure Treatment Devices Market include General Electric Company, Boston Scientific Corporation, Medtronic, St. Jude Medical, Inc., Biotronik SE & Co. KG, LivaNova PLC, Shree Pacetronix Ltd., OSCOR Inc., MEDICO S.p.A., Lepu Medical Technology Co. Ltd., MicroPort Scientific Corporation, Edwards Lifesciences, Zoll Medical Corporation, Vitatron, Osypka Medical, Inc., Cook Medical, Abbott, CorWave SA, Berlin Heart GmbH, Jarvik Heart, Inc. and others.
DelveInsight’s “Congestive Heart Failure (CHF) Treatment Devices Market” research report provides the current and forecasted Congestive Heart Failure Treatment Devices Market size, share, and trends analysis for the next five years, upcoming innovations in the segment, and major market drivers & barriers. The report also covers the key competitors and emerging devices in the domain.
Congestive Heart Failure (CHF) Treatment Devices Market: Overview
Congestive Heart Failure Treatment Devices involve several devices that maintain heart rhythms, such as pacemakers, cardiac resynchronization therapy (CRT), implantable cardioverter defibrillators (ICDs), and ventricular assist devices (VADs) and helpful to treat Congestive Heart Failure.
DelveInsight’s report provides an in-depth assessment of the market based on the segmentation by product (Ventricular Assist Devices (VADs) [LVAD, RVAD, BiVAD], Implantable Cardioverter Defibrillators [Transvenous ICD, Subcutaneous ICD], Pacemakers [Implantable, External], Cardiac Resynchronization therapy [Cardiac Resynchronization Therapy-Defibrillators (CRT-D), Cardiac Resynchronization Therapy-Pacemakers (CRT-P)], Others), by end-user (Hospitals, Others), and by geography (North America, Europe, Asia-Pacific, and Rest of the World)
As per the analysis, in the product segment of the Congestive Heart Failure Treatment Devices market, the Implantable Pacemakers are estimated to hold a higher share owing to the specific features associated with these devices and a higher preference over their external counterparts.
Congestive Heart Failure (CHF) Treatment Devices Market Analysis
The rising incidence of Cardiovascular Diseases (CVDs) is one of the major reasons for the higher demand for Congestive Heart Failure Treatment Devices. Globally, cardiovascular diseases are one of the leading causes of death and lead to an estimated 17.9 million lives in 2019. Moreover, it is observed that over four out of five CVD deaths list strokes and heart attacks as the main cause and one-third of these deaths are said to occur prematurely in people below 70 years of age. In Europe, each year, the cardiovascular disease leads to about 3.9 million deaths and over 1.8 million deaths in the European Union. Overall, CVD accounts for about 45% of all deaths in Europe and 37% in the EU.
Moreover, the growth in the number of elderly patients is another major factor for the higher demand for Congestive Heart Failure Treatment Devices as the aging population is more prone to cardiovascular disorders. A sedentary lifestyle, not doing enough physical activity, and excessive alcohol intake are among the major factors for the increase in heart failure cases globally, which is driving the Congestive Heart Failure Treatment Devices market growth. Technological advancements such as implantable cardioverter-defibrillator (ICD) technology, extended battery life, improved patient monitoring, and better device programming will also stimulate the Congestive Heart FailureTreatment Devices market growth in the coming years.
Despite several favorable factors, key aspects, such as the rise in the number of product recalls and high cost, may limit the Congestive Heart Failure Treatment Devices market growth.
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Congestive Heart Failure (CHF) Treatment Devices – Global Market Assessment and Forecast
As per the assessment by DelveInsight, among all the regions, North America is anticipated to dominate the Global Congestive Heart Failure Treatment Devices market. Over the years, the cases of CVDs have been observed to be rising constantly in North America. Nearly 655,000 people lose their lives due to heart disease each year in the US, which is nearly equal to 1 in every 4 deaths. The cases of heart-related disease are also in a surge in Canada. Overall, the rising cases of CVDs and increased incidence of these disorders in the aging population will play a key role in the higher demand for Congestive Heart FailureTreatment Devices in North America.
Moreover, increased emphasis on product development activities, the high interest of device manufacturers in accessing local markets, growth in the number of product launches, and encouraging reimbursement policies will considerably drive the Congestive Heart Failure Treatment Devices market growth.
Interested in knowing how the market will grow by 2027? Click to get a snapshot of Congestive Heart Failure Treatment Devices Market Trends and Developments
Congestive Heart Failure Treatment Devices Market – Key Developments and Breakthroughs
Over the years, the Congestive Heart Failure Treatment Devices Market has evolved significantly owing to the active participation of global MedTech companies and technological advancements in the domain.
- In June 2021, Medtronic launched the world’s smallest pacemaker to treat heart block. Micra AV with atrioventricular synchrony is the first pacemaker that can sense atrial activity without a lead or device in the upper chamber of the heart. The in-house created pacemaker is small enough to go inside the heart via a catheter. This will prove as a game-changer in the Pacemakers market.
- In January 2020, Abbott received CE Mark for its new implantable cardioverter defibrillator, Gallant, and cardiac resynchronization therapy defibrillator devices. The devices offer a patient-preferred design, smartphone connectivity, connected applications, improved battery longevity, and MRI compatibility.
As per DelveInsight, the ongoing clinical & commercial development activities and research in the domain will contribute immensely to the Congestive Heart Failure Treatment Devices Market in the coming years.
Key Companies in the Congestive Heart Failure Treatment Devices Market
Globally, some of the prominent players in the Congestive Heart Failure Treatment Devices Market include General Electric Company, Boston Scientific Corporation, Medtronic, St. Jude Medical, Inc., Biotronik SE & Co. KG, LivaNova PLC, Shree Pacetronix Ltd., OSCOR Inc., MEDICO S.p.A., Lepu Medical Technology Co. Ltd., MicroPort Scientific Corporation, Edwards Lifesciences, Zoll Medical Corporation, Vitatron, Osypka Medical, Inc., Cook Medical, Abbott, CorWave SA, Berlin Heart GmbH, Jarvik Heart, Inc. and others.
As per DelveInsight, due to the very high growth rate and positive return, several new players are expected to enter the Congestive Heart Failure Treatment Devices Market in the coming years. The entry of new players and the launch of emerging products will immensely drive market growth.
Learn how new players’ entries will transform the market dynamics in the coming years at Congestive Heart Failure Treatment Devices’ Competitive Landscape
Scope of the Congestive Heart Failure Treatment Devices Market Report:
- Study Period – 2019-2027
- Geography Covered – Global (North America, Europe, Asia-Pacific, and Rest of the World)
- Congestive Heart Failure (CHF) Treatment Devices Market Segmentation –
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- By Product – Ventricular Assist Devices (VADs) [LVAD, RVAD, BiVAD], Implantable Cardioverter Defibrillators [Transvenous ICD, Subcutaneous ICD], Pacemakers [Implantable, External], Cardiac Resynchronization therapy [Cardiac Resynchronization Therapy-Defibrillators (CRT-D), Cardiac Resynchronization Therapy-Pacemakers (CRT-P)], others.
- By End-User – Hospitals and others
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- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Table of Content
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Congestive Heart Failure Treatment Devices Market Key factors analysis |
| 5 | Congestive Heart Failure Treatment Devices Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Congestive Heart Failure Treatment Devices Market |
| 7 | Congestive Heart Failure Treatment Devices Market Layout |
| 8 | Congestive Heart Failure Treatment Devices Global Company Share Analysis – Key 3-5 Companies |
| 9 | Congestive Heart Failure Treatment Devices Product Profiles and Key Companies |
| 10 | Project Approach |
| 11 | KOL Views |
| 12 | DelveInsight Capabilities |
| 13 | Disclaimer |
| 14 | About DelveInsight |
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Key Takeaways From the Congestive Heart Failure (CHF) Treatment Devices Market Report Study
- In-depth analysis of the Congestive Heart Failure Treatment Devices Market size, share, and key trends.
- Comprehensive analysis of current Congestive Heart Failure Treatment Devices Market size (2020) and market forecast for 5 years (2022-2027)
- The effect of the COVID-19 pandemic on the Congestive Heart Failure Treatment Devices Market is significant. To capture and analyze suitable indicators, our experts closely watch the Congestive Heart Failure Treatment Devices Market.
- Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last three years
- Key companies dominating the Global Congestive Heart Failure Treatment Devices Market.
- Various opportunities are available for the other competitors in the Congestive Heart Failure Treatment Devices Market space.
- What are the top-performing segments in 2020? How will these segments perform in 2027?
- Which are the top-performing regions and countries in the current Congestive Heart Failure Treatment Devices Market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Congestive Heart Failure Treatment Devices Market growth in the coming future?
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About DelveInsight
DelveInsight is a leading Business Consultant and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing comprehensive end-to-end solutions to improve their performance.
Learn How the MedTech Devices Market is evolving with the ongoing clinical and commercial developments in the domain: MedTech and Diagnostics Market Assessment
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