The congestive heart failure treatment devices market is expanding due to the rising incidence of cardiovascular diseases (CVDs), an increase in research and development activities in product development, and an aging population that is susceptible to these diseases. Furthermore, the sedentary lifestyle and extreme benefits of these devices in heart failure cases during the COVID-19 pandemic, as well as the growing popularity of minimally invasive interventions, contributed to the growth of the congestive heart failure treatment devices market during the forecast period of 2022–2027.
New York, USA, Nov. 22, 2022 (GLOBE NEWSWIRE) — The Global Congestive Heart Failure Treatment Devices Market to Hit USD 27 Billion Mark by 2027, Assesses DelveInsight
The congestive heart failure treatment devices market is expanding due to the rising incidence of cardiovascular diseases (CVDs), an increase in research and development activities in product development, and an aging population that is susceptible to these diseases. Furthermore, the sedentary lifestyle and extreme benefits of these devices in heart failure cases during the COVID-19 pandemic, as well as the growing popularity of minimally invasive interventions, contributed to the growth of the congestive heart failure treatment devices market during the forecast period of 2022–2027.
DelveInsight’s Congestive Heart Failure Treatment Devices Market Insights report provides the current and forecast market analysis, individual leading congestive heart failure treatment devices companies’ market shares, challenges, congestive heart failure treatment devices market drivers, barriers, and trends, and key congestive heart failure treatment devices companies in the market.
Key Takeaways from the Congestive Heart Failure Treatment Devices Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global congestive heart failure treatment devices market during the forecast period.
- Notable congestive heart failure treatment devices companies such as 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 several others are currently operating in the congestive heart failure treatment devices market.
- On 31 October 2022, Abiomed received FDA approval for an easier-to-wear pump, Impella RP Flex, for right-sided heart failure.
- In October 2022, Allegheny General Hospital cardiologists and vascular surgeons announced that they had performed the first successful implant in Pittsburgh of a new device called Barostim, which is used to treat patients with progressive heart failure.
- In October 2022, CARMAT announced that the French National Agency for Medicine and Health Product Safety (“ANSM”) and the Patient Protection Committee (CPP Ile-de-France XI) had granted the necessary regulatory approvals to restart the EFICAS clinical trial.
- In July 2022, Ancora Heart, Inc. announced that the AccuCinch Ventricular Restoration System had received Breakthrough Device Designation from the FDA.
- In January 2022, the School of Medical Research and Technology (SMRT) of IIT Kanpur launched Hridyantra, a challenge-based program to develop an advanced artificial heart, also called a Left Ventricular Assist device (LVAD) for patients with end-stage heart failure.
To read more about the latest highlights related to the congestive heart failure treatment devices market, get a snapshot of the key highlights entailed in the Global Congestive Heart Failure Treatment Devices Market Report
Congestive Heart Failure Treatment Devices Overview
Congestive heart failure (CHF) is a chronic, progressive condition that affects the heart muscle’s pumping action. It usually happens when fluid accumulates within the heart, causing it to pump inefficiently.
Pacemakers, cardiac resynchronization therapy devices, implantable cardioverter defibrillators, and ventricular assist devices are some examples of congestive heart failure treatment devices. An implantable cardiac defibrillator is a medical device that is implanted inside the body. An ICD (implantable cardioverter defibrillator) constantly monitors heart rhythm and delivers a small shock to the heart muscle if it becomes abnormal. A ventricular assist device aids in blood circulation from the lower chambers of the heart to the rest of the body.
Congestive Heart Failure Treatment Devices Market Insights
North America is expected to hold the largest share of the global congestive heart failure treatment devices market. Rising CVD cases, increased incidence of these disorders in the aging population, and others are expected to contribute to the growth of the North American congestive heart failure treatment devices market.
Furthermore, the increased emphasis on product development activities and the high interest of device manufacturers in entering local markets aid in the growth of the regional congestive heart failure treatment devices market. For instance, On 31 October 2022, Abiomed received FDA approval for an easier-to-wear pump, Impella RP Flex, for right-sided heart failure. These product launches in local markets can potentially drive congestive heart failure treatment devices market demand.
To know more about why North America is leading the market growth in the congestive heart failure treatment devices market, get a snapshot of the Congestive Heart Failure Treatment Devices Market Outlook
Congestive Heart Failure Treatment Devices Market Dynamics
The congestive heart failure treatment devices market is experiencing increased product demand for a variety of reasons. The key factor is the increasing prevalence of cardiovascular diseases (CVDs). Furthermore, an increase in the number of elderly patients would transform healthcare delivery and increase demand for congestive heart failure treatment devices.
Moreover, a sedentary lifestyle, which includes risk factors such as smoking tobacco, eating foods high in fat, cholesterol, and sodium, not enough physical activity, and excessive alcohol consumption, will eventually lead to an increase in heart failure cases globally, driving the demand for overall congestive heart failure treatment devices.
Along with the factors mentioned above, technological advancements in the field of congestive heart failure treatment devices, such as several recent advancements in implantable cardioverter-defibrillator (ICD) technology to extend battery life, improve patient monitoring, and better device programming to enhance therapy effectiveness in emergencies, are another factor that has contributed to the positive growth of congestive heart failure treatment devices market.
However, the number of product recalls and the high cost of congestive heart failure treatment devices may be limiting factors in the market’s growth.
Additionally, the COVID-19 pandemic has had a marginally positive impact on the congestive heart failure treatment devices market because hospital admissions for COVID -19 patients were prioritized, and congestive heart failure treatment devices were used for corona-infected patients to provide supportive treatments. During the pandemic, this resulted in an increase in demand for congestive heart failure treatment devices. Furthermore, the process of economic recovery, which included the easing of lockdown restrictions and the return of normalcy in the economic landscape following the pandemic, resulted in the resumption of regular healthcare services, which kept demand for these products on track in the congestive heart failure treatment devices market.
Get a sneak peek at the congestive heart failure treatment devices market dynamics @Congestive Heart Failure Treatment Devices Market Dynamics Analysis
| Report Metrics | Details |
| Coverage | Global |
| Study Period | 2019–2027 |
| Base Year | 2021 |
| Market CAGR | 8.26% |
| Projected Congestive Heart Failure Treatment Devices Market Size by 2027 | USD 27.96 Billion |
| Key Congestive Heart Failure Treatment Devices Companies | 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., among others |
Congestive Heart Failure Treatment Devices Market Assessment
- Congestive Heart Failure Treatment Devices Market Segmentation
- Market 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
- Market Segmentation By End User: Hospitals, Others
- Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which MedTech key players in the congestive heart failure treatment devices market are set to emerge as the trendsetter explore @Congestive Heart Failure Treatment Devices Companies
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Key Factors Analysis |
| 5 | 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 | Global Company Share Analysis – Key 3-5 Companies |
| 9 | Congestive Heart Failure Treatment Devices Market Company and Product Profiles |
| 10 | Project Approach |
| 11 | About DelveInsight |
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