Congestive Heart Failure Treatment Devices Market 2024 | Key Players Abbott Laboratories, Medtronic plc, Baxter International Inc., Boston Scientific Corporation

A congestive heart failure (CHF) treatment device is a medical device designed to aid in the management and treatment of congestive heart failure, a condition where the heart is unable to pump blood efficiently, leading to a buildup of fluid in the lungs and other tissues. These devices assist in monitoring, supporting, or improving heart function and alleviating symptoms associated with congestive heart failure by reducing symptoms, preventing complications, and decreasing the need for hospitalizations.

Sizing and Forecast
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.

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Segmentation & Regional Insights
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

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.

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Major Driver Impacting Market Growth
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.

Key Industry Players
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.

The congestive heart failure treatment devices market report table of contents includes:

1. Executive Summary

2. Congestive Heart Failure Treatment Devices Market Characteristics

3. Congestive Heart Failure Treatment Devices Market Trends And Strategies

4. Congestive Heart Failure Treatment Devices Market – Macro Economic Scenario

5. Global Congestive Heart Failure Treatment Devices Market Size and Growth

…..

32. Global Congestive Heart Failure Treatment Devices Market Competitive Benchmarking

33. Global Congestive Heart Failure Treatment Devices Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Congestive Heart Failure Treatment Devices Market

35. Congestive Heart Failure Treatment Devices Market Future Outlook and Potential Analysis

36. Appendix

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