Congestive Heart Failure (CHF) Treatment Devices Market Overview:
The Global Congestive Heart Failure (CHF) Treatment Devices market was evaluated at $10,127.2 million in 2015, and is estimated to reach $14,823.3 million by 2022, with a CAGR of 5.5% over the forecast period.Congestive heart failure (CHF) is a physiological condition that has an adverse impact on the pumping efficiency of the cardiac muscles. It characterizes the accumulation of fluid around the heart leading to inefficient pumping. The onset of CHF is marked by the failure of the ventricles to pump sufficient volume of blood to the body organs. This eventually leads to deposition of fluid in the lungs, abdomen, liver, and lower body. CHF is treated by a number of devices that maintain heart rhythm, such as pacemakers, cardiac resynchronization therapy (CRT), implantable cardioverter defibrillators (ICDs), and ventricular assist devices (VADs).
This is primarily attributed to the constantly changing lifestyle habits (such as unhealthy dietary habits, excessive alcohol consumption, smoking, obesity, and lack of physical activity) which make individuals more susceptible to arrhythmia and heart failure. In addition, a number of factors such as the large number of technological advancements in CHF treatment devices, increased adoption rate of these devices, and rising emphasis on early intervention and primary prevention of heart-related disorders are responsible for driving the market. Conversely, stringent government regulations for the approval of CHF treatment devices, high cost of, and high preference to drugs for CHF treatment are some of the factors restraining the market growth.
The report segments the global CHF treatment devices market based on product type, namely, pacemakers, cardiac resynchronization therapy (CRT) devices, implantable cardioverter defibrillators (ICDs), and ventricular assist devices (VADs). Pacemaker is further segmented into dual-chamber pacemakers and single-chamber pacemakers. CRT devices is segmented into two major types, namely, CRT-P and CRT-D. ICDs is further segmented into transvenous implantable cardioverter defibrillator (T-ICDs) and subcutaneous implantable cardioverter defibrillator (S-ICDs). VADs is also segmented into left ventricular assist device (LVAD), right ventricular assist device (RVAD), and biventricular assist device (BIVAD). ICDs was the highest revenue-generating segment in 2015, owing to the stressful hyperactive lifestyle, unhealthy food habits, and growing number of aging population. Based on geography, the market is divided into North America, Europe, Asia-Pacific, and LAMEA regions.
The key players in this market adopted product development and product launch as their key strategies to keep pace with the changing demands of consumers. Furthermore, companies launched cost-effective and technologically efficient products to strengthen their market position. The report provides a comprehensive analysis of the key players operating in the global CHF treatment devices market, such as Abiomed, Inc., Berlin Heart GmbH, Biotronik SE & Co. KG, Boston Scientific Corporation, HeartWare International, Inc., Jarvik Heart, Inc., LivaNova PLC, Medtronic plc, ReliantHeart Inc., and St. Jude Medical, Inc.
CONGESTIVE HEART FAILURE (CHF) TREATMENT DEVICES MARKET KEY BENEFITS:
- The study provides an in-depth analysis of the global CHF treatment devices market with current trends and future estimations to elucidate the imminent investment pockets in the market.
- The report provides a quantitative analysis from 2015 to 2022 that would enable the stakeholders to capitalize on prevailing market opportunities.
- Extensive analysis of the global CHF treatment devices market, by product, helps in understanding the various types of devices used for the treatment of CHF and other related cardiac conditions.
- Competitive intelligence highlights the business practices followed by leading market players across various geographic regions.
- SWOT analysis enables to study the internal environment of the leading companies for strategy formulation.
CONGESTIVE HEART FAILURE (CHF) TREATMENT DEVICES MARKET KEY SEGMENTS:
Congestive Heart Failure (CHF) Treatment Devices Market, By Product
Pacemakers, By Type
- Implantable Pacemakers
- External Pacemakers
Cardiac Resynchronization Therapy (CRT), By Type
- Cardiac Resynchronization Therapy-Pacemakers (CRT-P)
- Cardiac Resynchronization Therapy-Defibrillators (CRT-D)
Implantable Cardioverter Defibrillators (ICDs), By Type
- Transvenous Implantable Cardioverter Defibrillator (T-ICDs)
- Subcutaneous Implantable Cardioverter Defibrillator (S-ICDs)
Ventricular Assist Devices (VADs), By Type
- Left Ventricular Assist Device (LVAD)
- Right Ventricular Assist Device (RVAD)
- Biventricular Assist Device (BIVAD)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East