The congestive
heart failure (CHF) treatment devices market is expected to reach
USD 32.0 billion by 2024, according to a new report by Grand View Research,
Inc. The rising burden of CVDs is one of the prime factors responsible for
lucrative growth of this vertical. Sedentary lifestyles, mental stress, and
junk food consumption tendencies are the key factors responsible for
development of CVDs.
Favorable reimbursement policies, such as the U.S.
Medicare system, are observed to be a prime growth factor for this industry.
Companies now provide new product platforms, which have reimbursement coverage
that benefit the patient. The reimbursement can be availed for devices, such as
Ventricular Assist Devices (VADs), Implantable Cardiovascular Defibrillators
(ICDs), and pacemakers, which are used to treat CHF.
The industry participants are more focused on
developing high-utility products, which can deliver personalized care. These
advancements are improving the accuracy and provide additional capabilities to
enhance the workflow and reduce the incidence of errors.
Browse full research report on Congestive Heart Failure (CHF) Treatment Devices
Market: https://www.grandviewresearch.com/industry-analysis/congestive-heart-failure-treatment-devices-market
Further
key findings from the study suggest:
- The market by product is segmented into VADs, Counter Pulsation
Devices, ICDs, pacemakers, and cardiac resynchronization devices. The ICD
segment consisting of two types, transvenous and subcutaneous, held a
lucrative share in 2015, which was followed by the pacemaker’s segment.
This can be attributed to the fact that defibrillators and pacemakers form
the primary line of treatment administered for heart failure.
- On the other hand, the VAD segment is anticipated to grow at a
significant rate over the forecast period due to reimbursement coverage
and technological advancements in VADs.
- The VAD based on the site of implantation are categorized into Left
Ventricular Assist Devices (LVAD) and Right Ventricular Assist Devices
(RVAD). When the LVAD and RVAD are implanted together they are termed
Biventricular Assist Devices (BIVAD).
- North America dominated the overall market in terms of revenue
share at over 40.0% in 2015; this can be attributed to the presence of a
large population base suffering from CVDs coupled with a significant
geriatric population base.
- Asia-Pacific is anticipated to grow at a lucrative CAGR during the
forecast period due to the increasing demand for these products.
Furthermore, the rapidly improving healthcare infrastructure in the
countries, such as India and Japan, also contribute toward the growth of
this region.
- Some of the players in this industry are Berlin Heart Inc.,
Medtronic, Boston Scientific, World Heart Corporation, Biotronik, Jarvik
Heart, MicroMed Cardiovascular Inc., Teleflex Inc., and St. Jude Medical.
- The market participants are actively involved in the improvement of
the current product portfolio, in order to sustain their market position.
Additionally, drug development and their market entry in the untapped
nations are expected to propel market growth.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/medical-devices
Grand
View Research has segmented the global CHF treatment devices market on the
basis of product.
Global
CHF Treatment Devices Market by Product (USD Million), 2013 - 2024
- Ventricular
Assist Devices (VADs)
- LVAD
- RVAD
- BiVAD
- Counter
Pulsation Devices
- Implantable
Cardioverter Defibrillators
- Transvenous
ICD
- Subcutaneous
ICD
- Pacemakers
- Implantable
- External
- Cardiac
Resynchronization therapy
- Cardiac
Resynchronization Therapy-Defibrillators (CRT-D)
- Cardiac
Resynchronization Therapy-Pacemakers (CRT-P)
CHF
Treatment Devices Market by Region (USD Million), 2013 - 2024
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- Japan
- China
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
- Saudi Arabia
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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