Global Congestive Heart Failure (CHF) Treatment Devices Market - 2024-2031
Global Congestive Heart Failure (CHF) Treatment Devices market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing at a CAGR of YY% during the forecast period 2024-2031.
Congestive heart failure (CHF) treatment devices are medical devices used in the management and treatment of congestive heart failure, a condition where the heart's ability to pump blood is weakened.
Pacemakers, implanted cardioverter defibrillators (ICDs), biventricular pacemakers, and cardiac loop recorders are examples of implantable cardiac electronic devices that are used to monitor and help manage irregular heartbeats in patients with heart failure and certain heart rhythm problems.
Market Dynamics: Drivers & Restraints
Increase in the incidence of congestive heart failures
Rise in the number of heart failure patients has been increasing the demand for congestive heart failure treatment devices. The increasing prevalence of heart diseases, the rise in the geriatric population and the lack of organ donors for cardiovascular devices are raising the growth of the market.
For instance, according to the latest report by the Heart Failure Society of America in 2024, it is estimated that nearly 6.5 million Americans over the age of 20 have heart failure and also it is estimated that there are 960,000 new heart failure cases annually.
Additionally, the incidence of HF in India is estimated to be at least between 0.5 and 1.7 cases per 1,000 person-years, for a total of 492,000 to 1.8 million new cases per year. Thus, the rise in heart failure cases is expected to increase the demand for the devices which is expected to drive the market growth in the forecast period.
Risks associated with the procedures
Risks that are associated with the treatment procedures are expected to hinder market growth. These risks can affect the use of the devices. For instance, LVAD implantation is associated with adverse complications such as bleeding, infection, pump thrombosis, right heart failure, device malfunction, and stroke.
Segment Analysisn
The global congestive heart failure (CHF) treatment devices market is segmented based on the product type, end-user and region.
Implantable Cardioverter Defibrillators (ICD) segment is expected to dominate the market share
An implantable cardioverter defibrillator (ICD) is a battery-powered device that keeps track of the heartbeat and can deliver an electrical shock that will allow ventricular muscle fibrillation to return to a normal heartbeat. The ICD can detect irregular heart rhythms, called arrhythmias in the ventricles.
The increase in technological advancements and the increase in advanced product launches is expected to increase the demand for implantable cardioverter defibrillators and is expected to hold the segment in the dominant position throughout the forecast period.
For instance, in October 2023, MicroPort CRM launched the ULYS Implantable Cardioverter Defibrillator (ICD) and INVICTA defibrillation lead in Japan. Both devices are MRI conditional at 1.5T and 3T when implanted as a system.
Additionally, in October 2023, US Food and Drug Administration (FDA) approved Medtronic’s Aurora EV-ICD MRI SureScan extravascular implantable cardioverter-defibrillator and Epsila EV MRI SureScan defibrillation lead for the treatment of fast heart rhythms that may cause sudden cardiac arrest. Thus, the segment is expected to hold the dominant position in the market share during the forecast period.
Geographical Analysis
North America is expected to hold a significant position in the congestive heart failure (CHF) treatment devices market share
North America is expected to hold a dominant position in the market share in the forecast period owing to the presence of major players, the occurrence of a large number of cardiovascular surgeries, increasing prevalence of heart failure cases and also the improvement of healthcare facilities in the region. The increase in advanced product launches and strategies among the major players are also factors that drive the market growth in the region.
For instance, in July 2023, Abbott received U.S. Food and Drug Administration (FDA) approval for the AVEIR dual chamber (DR) leadless pacemaker system treating people with abnormal or slow heart rhythms. With more than 80% of people who need a pacemaker requiring pacing in two chambers of the heart, the approval significantly increases access to leadless pacing for millions of people across the U.S.
Additionally, in May 2023, Medtronic plc received U.S. Food and Drug Administration (FDA) approval for its Micra AV2 and Micra VR2, the next generation of its industry-leading miniaturized, leadless pacemakers. Thus, the above factors are expected to hold the region in the dominant position in the forecast period.
COVID-19 Impact Analysis
Limited surgical procedures and the reduced need to prevent surgical site infections have lowered the usage of wound care products. Reduced attention toward the chronic wound patients by prioritizing COVID-19 patients has also affected product usage. Reduced supply chain due to the lockdown at the borders and also the reduced production of non-essential medical products during the COVID-19 phase have impacted the market growth. Thus, COVID-19 has affected the market growth.
Market Segmentation
By Product Type
• Implantable Cardioverter Defibrillators
Transvenous ICD
Subcutaneous ICD
• Ventricular Assist Devices (VADs)
LVAD
RVAD
BiVAD
• Pacemakers
Implantable
External
• Cardiac Resynchronization Therapy
Cardiac Resynchronization Therapy-Defibrillators (CRT-D)
Cardiac Resynchronization Therapy-Pacemakers (CRT-P)
• Counter Pulsation Devices
By End-User
• Hospitals
• Ambulatory Surgical Centers
• Specialty Clinics
• Others
By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa
Competitive Landscape
The major global players in the market include Biotronik SE & Co., KG, Abiomed, Inc., Boston Scientific Corporation, Jarvik Heart, Inc., Medtronic Plc, Abbott Laboratories, Vitatron Holding B.V., Lepu Medical Technology Co., Ltd., MicroPort Scientific Corporation, Shree Pacetronix Ltd. among others.
Why Purchase the Report?
• To visualize the global congestive heart failure (CHF) treatment devices market segmentation based on the product type, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of the congestive heart failure (CHF) treatment devices market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global congestive heart failure (CHF) treatment devices market report would provide approximately 55 tables, 58 figures and 180 pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Snippet by Product Type
- 3.2. Snippet by End-user
- 3.3. Snippet by Region
- 4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. Increase in the incidence of congestive heart failures
- 4.1.1.2. YY
- 4.1.2. Restraints
- 4.1.2.1. Risks associated with the procedures
- 4.1.2.2. YY
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter's Five Force Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 5.5. Reimbursement Analysis
- 5.6. Patent Analysis
- 5.7. SWOT Analysis
- 5.8. DMI Opinion
- 6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID
- 6.1.2. Scenario During COVID
- 6.1.3. Scenario Post COVID
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
- 7. By Product Type
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 7.1.2. Market Attractiveness Index, By Product Type
- 7.2. Implantable Cardioverter Defibrillators *
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.2.3. Transvenous ICD
- 7.2.4. Subcutaneous ICD
- 7.3. Ventricular Assist Devices (VADs)
- 7.3.1. LVAD
- 7.3.2. RVAD
- 7.3.3. BiVAD
- 7.4. Pacemakers
- 7.4.1. Implantable
- 7.4.2. External
- 7.5. Cardiac Resynchronization Therapy
- 7.5.1. Cardiac Resynchronization Therapy-Defibrillators (CRT-D)
- 7.5.2. Cardiac Resynchronization Therapy-Pacemakers (CRT-P)
- 7.6. Counter Pulsation Devices
- 8. By End-user
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 8.1.2. Market Attractiveness Index, By End-user
- 8.2. Hospitals*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Ambulatory Surgical Centers
- 8.4. Specialty Clinics
- 8.5. Others
- 9. By Region
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 9.1.2. Market Attractiveness Index, By Region
- 9.2. North America
- 9.2.1. Introduction
- 9.2.2. Key Region-Specific Dynamics
- 9.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 9.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 9.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.2.5.1. U.S.
- 9.2.5.2. Canada
- 9.2.5.3. Mexico
- 9.3. Europe
- 9.3.1. Introduction
- 9.3.2. Key Region-Specific Dynamics
- 9.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 9.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 9.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.3.5.1. Germany
- 9.3.5.2. UK
- 9.3.5.3. France
- 9.3.5.4. Italy
- 9.3.5.5. Spain
- 9.3.5.6. Rest of Europe
- 9.4. South America
- 9.4.1. Introduction
- 9.4.2. Key Region-Specific Dynamics
- 9.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 9.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 9.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.4.5.1. Brazil
- 9.4.5.2. Argentina
- 9.4.5.3. Rest of South America
- 9.5. Asia-Pacific
- 9.5.1. Introduction
- 9.5.2. Key Region-Specific Dynamics
- 9.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 9.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 9.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.5.5.1. China
- 9.5.5.2. India
- 9.5.5.3. Japan
- 9.5.5.4. Australia
- 9.5.5.5. Rest of Asia-Pacific
- 9.6. Middle East and Africa
- 9.6.1. Introduction
- 9.6.2. Key Region-Specific Dynamics
- 9.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 9.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 10. Competitive Landscape
- 10.1. Competitive Scenario
- 10.2. Market Positioning/Share Analysis
- 10.3. Mergers and Acquisitions Analysis
- 11. Company Profiles
- 11.1. Biotronik SE & Co., KG*
- 11.1.1. Company Overview
- 11.1.2. Product Portfolio and Description
- 11.1.3. Financial Overview
- 11.1.4. Key Developments
- 11.2. Abiomed, Inc.
- 11.3. Boston Scientific Corporation
- 11.4. Jarvik Heart, Inc.
- 11.5. Medtronic Plc
- 11.6. Abbott Laboratories
- 11.7. Vitatron Holding B.V.
- 11.8. Lepu Medical Technology Co., Ltd.
- 11.9. MicroPort Scientific Corporation
- 11.10. Shree Pacetronix Ltd.
- LIST NOT EXHAUSTIVE
- 12. Appendix
- 12.1. About Us and Services
- 12.2. Contact Us
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