The congestive heart failure treatment devices global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Congestive Heart Failure Treatment Devices Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The congestive heart failure treatment devices market size has grown strongly in recent years. It will grow from $18.22 billion in 2023 to $19.61 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to the shift towards less invasive surgical techniques, the demand for minimally invasive structural heart devices, ongoing training and education programs for healthcare professionals, rising healthcare expenditure, and growing patient preference for non-surgical or minimally invasive treatment options.
The congestive heart failure treatment devices market size is expected to see strong growth in the next few years. It will grow to $26.57 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to the increasing aging population, growing awareness about heart health, the implementation of screening programs, favorable reimbursement policies for structural heart procedures, and timely regulatory approvals for new structural heart devices. Major trends in the forecast period include increasing adoption of transcatheter valve replacement, ongoing development of innovative devices with advanced materials, growing emphasis on personalized treatment approaches, increasing adoption of hybrid procedures, and integration of remote monitoring and telehealth solutions.
Scope Of Congestive Heart Failure Treatment Devices MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Congestive Heart Failure Treatment Devices Market Overview
Market Drivers –
The rise in the prevalence of cardiovascular disorders is expected to propel the growth of the congestive heart failure treatment devices market going forward. Cardiovascular disorders encompass a range of diseases affecting the heart and blood vessels, including coronary artery disease, hypertension, and heart failure, impacting blood circulation and overall heart health. The rise in the prevalence of cardiovascular disorders is primarily due to increasing rates of risk factors such as obesity, sedentary lifestyles, poor diets, and aging populations. Congestive heart failure treatment devices are crucial in managing cardiovascular disorders by regulating heart rhythms and improving heart function, significantly enhancing patient outcomes. For instance, in March 2022, according to the Office for National Statistics, a UK-based national statistical authority, the number of deaths due to heart attacks was 20,061 in 2021, increasing from 19,440 in 2020. Therefore, the rise in the prevalence of cardiovascular disorders is driving the growth of the congestive heart failure (CHF) treatment devices market.
Market Trends –
Major companies operating in the congestive heart failure treatment devices market are developing innovative products, such as pacemakers with Bluetooth connectivity, to gain a competitive edge in the market. Pacemakers with Bluetooth connectivity are medical devices that regulate heart rhythms and can wirelessly transmit data to healthcare providers for monitoring and adjustments. For instance, in June 2021, Microport Crm S.R.L., a France-based medical devices company, announced the launch of Alizea and Borea pacemakers with Bluetooth connectivity and streamlined remote monitoring. These pacemakers are equipped with Bluetooth technology, enabling cardiologists to monitor the devices remotely and minimizing the need for patients to travel to hospitals for routine check-ups. The SmartView Connect home monitor supports this remote monitoring by providing detailed reports on the system’s performance. Alizea and Borea pacemakers are compact and have a projected lifespan of 13 years. They include advanced features such as SafeR mode and real-time EGM. These pacemakers aim to enhance healthcare management by reducing hospital visits and ensuring continuous monitoring and follow-up.
The congestive heart failure treatment devices market covered in this report is segmented –
1) By Product: Cardiac Pacemaker, Implantable Cardioverter Defibrillators (ICDs), Cardiac Resynchronization Therapy Devices (CRT), Counter Pulsation Devices, Ventricular Assist Devices (VADs)
2) By Application: Left Ventricular Assist Device (LVAD), Right Ventricular Assist Device (RVAD), Biventricular Assist Device (BIVAD)
3) By End-User: Hospitals And Clinic, Specialized Cardiovascular Disease Treatment Centers, Ambulatory Surgery Centers
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Regional Insights –
North America was the largest region in the congestive heart failure treatment devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the congestive heart failure treatment devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the congestive heart failure treatment devices market are Abbott Laboratories, Medtronic plc, Baxter International Inc., Boston Scientific Corporation, Terumo Corporation, Edwards Lifesciences Corporation, Charles River Laboratories International Inc., W. L. Gore & Associates Inc., Bracco Group, LivaNova PLC, Meril Life Sciences Pvt. Ltd., Biotronik SE & Co. KG, CryoLife Inc., HeartWare International Inc., Direct Flow Medical Inc., Berlin Heart GmbH, CVRx Inc., Micro Interventional Devices Inc., Jarvik Heart Inc, CardioKinetix Inc, Xeltis AG, Ancora Heart Inc, ReliantHeart Inc.
Table of Contents
1. Executive Summary2. Congestive Heart Failure Treatment Devices Market Report Structure3. Congestive Heart Failure Treatment Devices Market Trends And Strategies4. Congestive Heart Failure Treatment Devices Market – Macro Economic Scenario5. Congestive Heart Failure Treatment Devices Market Size And Growth…..27. Congestive Heart Failure Treatment Devices Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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