Congestive Heart Failure (CHF) Treatment Devices Market To Hold a High Potential for Growth by 2024

Congestive Heart Failure (CHF) is a chronic condition of a body, which adversely affects the pumping efficiency of the cardiac muscles and the heart. It occurs due to accretion of fluid around the heart that  may contribute towards ineffective pumping of the heart. This condition may result in shortness of breathing, swelling and weakness. Left-sided CHF is the more commonly noted than right-sided CHF. Left-sided CHF occurs due to malfunctioning of the left ventricle leading to fluid accumulation in lungs making breathing difficult. In right-sided CHF, blood backs up in blood vessels leading to fluid retention in lower extremities of the body including abdomen and other vital organs. Common reasons for onset of congestive heart failure are hypertension, coronary arterial disease and malfunctioning of heart valves. Some symptoms for onset of CHF include continued fatigue, irregular heartbeat, chest pain, increased need to urinate, wheezing, continued weight gain and fainting. Symptoms vary with the severity of the disease. It can be diagnosed by a careful physical examination and selected laboratory tests. Some of these are EEG, ECG, MRI, various stress tests, blood tests and cardiac catherization.

Lifestyle modification, administration of prescription medicines, mechanical therapies and surgical intervention are four widely adopted treatments for CHF. Mechanical therapies and surgical interventions are more commonly adopted treatments by physicians in hospitalization cases. The devices used for the treatment of congestive heart failure include implantable cardioverter defibrillators (ICD), cardiac resynchronization therapy (CRT), ventricular assist devices (VADs), or pacemakers.

Increasing prevalence of cardiovascular diseases across regions is one the major factors driving the revenue growth of congestive heart failure treatment devices globally. Lifestyle related factors are expected to add to growing disease incidence of CVDs and thus raise adoption of treatments. Fast track approvals of devices coupled with technological advancement in developed countries will propel market revenues further. Huge unmet treatment demand for congestive heart failure is expected to be noted in developing markets. High cost of devices and unfavorable reimbursement policies are few factors that could hinder the revenues growth of the congestive heart failure treatment market.

The congestive heart failure treatment devices are expected show significant growth in demand over the forecast period owing to rising incidences of cardiovascular diseases. Congestive heart failure is one of the most common medical conditions which is responsible for the death of people globally. Around 6.5 million of people are diagnosed with congestive heart failure every year.  According to a survey around 2% of global population are hospitalized due to congestive heart failure.

Based on product type, congestive heart failure treatment devices are segmented as cardioverter defibrillators (ICD), cardiac resynchronization therapy (CRT), ventricular assist devices (VADs) and pacemakers. The Implantable Cardioverter Defibrillators (ICDs) is expected to hold the maximum share of congestive heart failure devices market. The ventricular assist devices (VADs) segment is expected to show significant growth over the forecast period due to technological advancement.

Based on the end user, the congestive heart failure treatment devices market is segmented as hospitals, cardiovascular center, and ambulatory surgical center. The hospital is expected to share maximum share of congestive heart failure devices market among all end user.

Based on geography, global congestive heart failure devices market is segmented into five broad regions viz. North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. North America is expected to be the largest market for congestive heart failure devices market. This market is then followed by Europe and Asia-Pacific region. North America and Europe market are growing significantly owing to the high prevalence of cardiovascular diseases. Asia-Pacific region is expected to show high growth for congestive heart failure devices market due to rise in geriatric population in India and China.

Some of the key players of congestive heart failure disease are Boston Scientific Corporation, Medtronic PLC, Abiomed, Inc., HeartWare International, Inc., Jarvik Heart, Inc., LivaNova PLC, ReliantHeart Inc.

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Ankush Nikam

Ankush Nikam is a seasoned digital marketing professional, having worked for numerous online firms in his distinguished career. He believes in continuous learning, considering that the digital marketing sector’s rapidly evolving nature. Ankush is an avid music listener and loves to travel.