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).
The world CHF treatment devices market was evaluated at $10,127.2 million in 2015, and is estimated to reach $14,823.3 million by 2022, with a CAGR of 5.5% over the forecast period. This is primarily attributed to the constantly changing lifestyle habits (such as unhealthy dietary habits, excessive alcohol consumption, smoking, obesity, and lack of physical activity) which make individuals more susceptible to arrhythmia and heart failure.
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The file offers market sizing and forecast throughout 5 primary currencies – USD, EUR GBP, JPY, and AUD. It helps corporation leaders make higher choices when foreign money change records are available with ease. In this report, the years 2020 and 2021 are regarded as historic years, 2020 as the base year, 2021 as the estimated year, and years from 2022 to 2030 are viewed as the forecast period.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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 rising 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 of, and high preference to drugs for CHF treatment are some of the factors restraining the market growth.
The report segments the world CHF treatment devices market based on product type, namely, pacemakers, cardiac resynchronization therapy (CRT) devices, implantable cardioverter defibrillators (ICDs), and ventricular assist devices (VADs). Pacemaker is further segmented into dual-chamber pacemakers and single-chamber pacemakers. CRT devices is segmented into two major types, namely, CRT-P and CRT-D. ICDs is further segmented into transvenous implantable cardioverter defibrillator (T-ICDs) and subcutaneous implantable cardioverter defibrillator (S-ICDs).
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VADs is also segmented into left ventricular assist device (LVAD), right ventricular assist device (RVAD), and biventricular assist device (BIVAD). ICDs was the highest revenue-generating segment in 2015, owing to the stressful hyperactive lifestyle, unhealthy food habits, and growing number of aging population. Based on geography, the market is divided into North America, Europe, Asia-Pacific, and LAMEA regions.
The key players in this market adopted product development and product launch as their key strategies to keep pace with the changing demands of consumers. Furthermore, companies launched cost-effective and technologically efficient products to strengthen their market position.
The report provides a comprehensive analysis of the key players operating in the world CHF treatment devices market, such as Abiomed, Inc., Berlin Heart GmbH, Biotronik SE & Co. KG, Boston Scientific Corporation, HeartWare International, Inc., Jarvik Heart, Inc., LivaNova PLC, Medtronic plc, ReliantHeart Inc., and St. Jude Medical, Inc.
The study provides an in-depth analysis of the world CHF treatment devices market with current trends and future estimations to elucidate the imminent investment pockets in the market.
The report provides a quantitative analysis from 2015 to 2022 that would enable the stakeholders to capitalize on prevailing market opportunities.
Extensive analysis of the world CHF treatment devices market, by product, helps in understanding the various types of devices used for the treatment of CHF and other related cardiac conditions.
Competitive intelligence highlights the business practices followed by leading market players across various geographic regions.
SWOT analysis enables to study the internal environment of the leading companies for strategy formulation.
CONGESTIVE HEART FAILURE (CHF) TREATMENT DEVICES MARKET KEY SEGMENTS:
Congestive Heart Failure (CHF) Treatment Devices Market, By Product
Pacemakers, By Type
Cardiac Resynchronization Therapy (CRT), By Type
Cardiac Resynchronization Therapy-Pacemakers (CRT-P)
Cardiac Resynchronization Therapy-Defibrillators (CRT-D)
Implantable Cardioverter Defibrillators (ICDs), By Type
Transvenous Implantable Cardioverter Defibrillator (T-ICDs)
Subcutaneous Implantable Cardioverter Defibrillator (S-ICDs)
Ventricular Assist Devices (VADs), By Type
Left Ventricular Assist Device (LVAD)
Right Ventricular Assist Device (RVAD)
Biventricular Assist Device (BIVAD)
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Rest of Europe
Rest of Asia-Pacific
Table of Content:
- Market Definition and Overview
- Research Method and Logic
- Market Competition Analysis
- Product and Service Analysis
- Strategies for Company to Deal with the Impact of COVID-19
- Market Segment by Type, Historical Data and Market Forecasts
- Market Segment by Application, Historical Data and Market Forecasts
- Market by by Region, Historical Data and Market Forecasts
- Market Dynamic Analysis and Development Suggestions
Key Questions Answered in the Market Report
• How did the COVID-19 pandemic impact the adoption of by various pharmaceutical and life sciences companies?
• What is the outlook for the impact market during the forecast period 2021-2030?
• What are the key trends influencing the impact market? How will they influence the market in short-, mid-, and long-term duration?
• What is the end user perception toward?
• How is the patent landscape for pharmaceutical quality? Which country/cluster witnessed the highest patent filing from January 2014-June 2021?
• What are the key factors impacting the impact market? What will be their impact in short-, mid-, and long-term duration?
• What are the key opportunities areas in the impact market? What is their potential in short-, mid-, and long-term duration?
• What are the key strategies adopted by companies in the impact market?
• What are the key application areas of the impact market? Which application is expected to hold the highest growth potential during the forecast period 2021-2030?
• What is the preferred deployment model for the impact? What is the growth potential of various deployment models present in the market?
• Who are the key end users of pharmaceutical quality? What is their respective share in the impact market?
• Which regional market is expected to hold the highest growth potential in the impact market during the forecast period 2021-2030?
• Which are the key players in the impact market?
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