Mechanical circulatory support devices treat congestive heart failure (CHF). Devices like pacemakers, cardiac resynchronization therapy devices, implantable cardioverter defibrillators, and ventricular assist devices are used to treat congestive heart failures.

The market worth of congestive heart failures treatment devices in 2021 was USD 17.53 billion. And it will be worth USD 35.96 billion by 2030. growing at an 8.31% CAGR during the forecast period.

Per a study in the journal of the European Society of Cardiology. The number of persons suffering from heart failure has almost doubled in the preceding three decades. According to the above projection, 70 million individuals worldwide will suffer from heart failure by 2022.

The market for congestive heart failure treatment devices is growing as a result. An aging population that is more sensitive to cardiovascular diseases (CVDs). A growth in product development research and development activities, and the rising prevalence of CVDs. The COVID-19 pandemic, sedentary lifestyle, exceptional benefits of these devices in treating heart failure cases, rising acceptance of minimally invasive procedures. And other factors are expanding the congestive heart failure treatment devices industry.

Market Dynamics

Drivers

The prevalence of cardiovascular diseases and the danger of organ failure are the two main factors propelling the market expansion for CHF treatment devices. Additionally, the growing number of heart failure patients has increase the demand for ventricular assist devices. Which will spur market expansion and enhance demand for congestive heart failure treatment devices. A rise in the elderly population has also boost the market’s expansion by raising the incidence of cardiovascular disease. Additionally, an increase in product approvals would create profitable chances for the expansion of the CHF treatment devices market.

Restraints

Market expansion is hampered by strict regulatory regulations. The high cost of these devices, and poor reimbursement practices. Annual costs per patient ranged from $868 for South Korea to $25,532 for Germany. According to cost-of-illness studies on heart failure that were published in PubMed.

Opportunity 

Global demand for these devices will be driven by rising demand. And declining willingness for organ donation, the need for safe and effective therapy. And the rising prevalence of chronic heart failure. According to CDC (Centers for Disease Control and Prevention) studies, over 6 million adults in the United States. And over 23 million people globally suffer from heart failure.

Market Segmentation 

By Product

On the basis of product, the market is divide into ventricular assist devices, cardiac pacemakers. Cardiac resynchronization therapy devices, counter pulsation devices, and implantable cardioverter defibrillators.

Due to technical advancements, implantable cardioverter defibrillators (ICDs) are the most common congestive heart failure treatment devices. As a result, the ventricular assist devices (VADs) market will grow significant throughout the forecast period.

By End-user

On the basis of end-user, the market is segment into ambulatory surgery centers, hospitals & clinics, and specialize cardiovascular disease treatment centers.

The market share for congestive heart failure devices is anticipate to go to the hospital segment. The increase in public fund for the construction of hospitals worldwide is anticipate to fuel market expansion in this sector. Total medical expenses in the US will rise from $31.1 billion (in 2020) to $53.1 billion (by 2030), according to a study published in NCBI.

Regional Analysis 

Due to the high prevalence of cardiovascular illness. North America will have the greatest market for congestive heart failure devices, followed by Europe. Per the American Heart Association’s 2017 Heart Disease & Stroke Statistics. There are already more than 8 million Americans who have been diagnose with heart failures. And that number is expect to climb by 46% by 2030.

Key Players 

  • St. Jude Medical
  • CVRx
  • ReliantHeart
  • HeartWareInternatrional
  • LivaNova PLC
  • Jarvik Heart
  • Boston Scientific Corporation
  • Biotronik SE & Co. KG
  • Berlin Heart GmbH
  • Abiomed
  • Medtronic

The market worth of congestive heart failure treatment devices in 2021 was USD 17.53 billion. And it will be worth USD 35.96 billion by 2030. Grow at an 8.31% CAGR during the forecast period. The market for congestive heart failure (CHF) therapeutic devices is driven by the rising prevalence of cardiovascular illness, technical advancements, and the rising number of cardiovascular operations. Sedentary lifestyle, junk food consumption, and mental stress are additional significant risk factors associate with developing CVDs.

CVDs are a gathering of problems describe by practical or underlying irregularities. Or both that influence the working of the heart and the relate veins. As indicated by the World Wellbeing Association, CVDs add to the greatest number of passings universally. In 2012, around 17.5 million passings were account for from CVDs, addressing 31.0% of the worldwide demise measurements. Of the 17.5 million passing detail, 7.4 million were because of coronary illness and 6.7 million were because of stroke.

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