Congestive Heart Failure (CHF) Treatment Devices Market By Product Type (Pacemakers, Cardiac Resynchronization Therapy, Implantable Cardioverter Defibrillators, Ventricular Assist Devices): Global Opportunity Analysis and Industry Forecast, 2020-2030

Congestive Heart Failure (CHF) Treatment Devices Market By Product Type (Pacemakers, Cardiac Resynchronization Therapy, Implantable Cardioverter Defibrillators, Ventricular Assist Devices): Global Opportunity Analysis and Industry Forecast, 2020-2030

The congestive heart failure treatment devices market was valued at $11,897.97 million 2020, and is estimated to reach $20,470.14 million by 2030, growing at a CAGR of 5.6% from 2021 to 2030.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).

Growth of the global congestive heart failure treatment devices market is majorly driven byconstantly 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 growth in 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, and high preference to drugs for CHF treatment are some of the factors restraining the marketgrowth. 

Furthermore, development of advanced technologies fuels the demand and application of congestive heart failure treatment devices. In addition, technological advancement in the congestive heart failure treatment devices propels the growth of the market.

Rise in healthcare facilities, increased healthcare burden, and innovation of new medical devices are the major factors that drive the global congestive heart failure treatment devicesmarket. In addition, the key players such as Boston Scientific Corporation, Medtronic Plc and Abiomed Inc. focused on the production of congestive heart failure treatment devices that contribute toward the market growth. As per the Health Resources and Services Administration, 106,430 number of men, women, and children were on the national transplant waiting list and 39,000 transplants were performed in 2020, globally. The rise in demand for organ transplantation procedure and surge in usage of ventricular assist devices product drives the market growth. Furthermore, as per Organization for Economic Co-operation and Development, in 2018, 45,307 cases of coronary artery bypass grafting procedures were performed in Germany. Hence, the surge in incidences of emergency surgeries and extensive use of implantable cardioverter defibrillator, ventricular assist devices, and other devices propel the growth of the congestive heart failure treatment devices market.

Cardiovascular diseases (CVDs) are the leading cause of death globally, and it takes an estimated 17.9 million lives each year. According to the report by the British Heart Foundation, in 2021, 7.6 million people live with heart & circulatory diseases and it causes about 25% death in the UK. Cardiovascular diseases are a group of disorders of the heart & blood vessels and include, coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other conditions. Thus, rise in use of congestive heart failure treatment devices during cardiac surgeries is expected to contribute toward the growth of congestive heart failure treatment devices market

Furthermore, rise in geriatric population and increased burden of cardiovascular diseases lead to upsurge in hospital admissions, which drive the growth of the market.

However,high costs of cardiac resynchronization, pacemaker devices, limited availability of funds, and dearth of skilled professionals could impede the market growth. Presently, people are more aware of health, which, in turn, compels them to maintain their health condition and fosters demand for treatment of various diseases that lead to rise in hospital care. This has encouraged many key players to enter emerging market, thus offering lucrative growth opportunities in the congestive heart failure treatment devices market. 

The congestive heart failure treatment devices market is segmented on the basis of type, and region. By product type, the market is categorized into pacemakers, cardiac resynchronization therapy (CRT), implantable cardioverter defibrillators (ICDs), and ventricular assist devices (VADs). Pacemaker is further segmented into implantable pacemaker and external pacemakers. In addition, CRT devices is segmented into two major types, namely, CRT-P and CRT-D. Furthermore, ICDs is further segmented into transvenous implantable cardioverter defibrillator (T-ICDs) and subcutaneous implantable cardioverter defibrillator (S-ICDs). Moreover, VADs is also segmented into left ventricular assist device (LVAD), right ventricular assist device (RVAD) and biventricular assist device (BIVAD).

Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Some of the major companies that operate in the global congestive heart failure treatment devicesmarket are Abbot Laboratories (St. Jude Medical Inc.), Abiomed Inc., Berlin Heart GmbH, Biotronik SE & Co. KG, Boston Scientific Corporation, Jarvik Heart Inc, Lepu Medical, Medtronic Plc, Microport Scientific Corporation, and Osypka Medical GmbH.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the congestive heart failure (CHF) treatment devices market analysis from 2020 to 2030 to identify the prevailing congestive heart failure (chf) treatment devices market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the congestive heart failure (chf) treatment devices market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global congestive heart failure (chf) treatment devices market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments


By Product Type

Pacemakers
Cardiac Resynchronization Therapy
Implantable Cardioverter Defibrillators
Ventricular Assist Devices

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA

Key Market Players

abbot laboratories
Abiomed Inc.
Berlin Heart GmbH
Biotronik SE and Co. KG
Boston Scientific Corporation
Jarvik Heart Inc
Lepu Medical
Medtronic Plc
Microport Scientific Corporation
Osypka Medical GmbH