Yahoo Finance The Worldwide Congestive Heart Failure Treatment Devices Industry is Expected to Reach $16.5 Billion by 2028
Global Congestive Heart Failure (CHF) Treatment Devices Market
Dublin, July 05, 2022 (GLOBE NEWSWIRE) -- The "Global Congestive Heart Failure Treatment Devices Market Size, Share & Industry Trends Analysis Report By Product Type, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Congestive Heart Failure (CHF) Treatment Devices Market size is expected to reach $16.5 billion by 2028, rising at a market growth of 5.4% CAGR during the forecast period.
A cardiac device is employed to keep the heart in a regular rhythm. There are a variety of devices to choose from. An ICD (implantable cardiac defibrillator) is an electrical device that is implanted into the heart. An ICD constantly monitors the cardiac rhythm and, if it becomes abnormal, provides a mild shock to the heart muscle (arrhythmia). If a shock is required, it can be extremely unpleasant, but it will pass rapidly. Instead of a shock, some ICDs employ a pacing system. To restore normal heart rhythm, this type of ICD gives a rapid impulse to the heart muscle. A pacemaker can help the patient to avoid sudden cardiac arrest (SCA).
According to the Cleveland Clinic, electrical issues in the ventricles cause delays when they pump/contract in about 30% of people with heart failure. There is less oxygen-rich blood transported to the organs and muscles when the ventricles do not pump simultaneously. Pumping delays aggravate heart failure and raise the likelihood of death from the condition. A pacemaker is implanted in the patient's body as part of CRT treatment.
The pacemaker is connected to three wires (leads) that send tiny electrical impulses to the heart muscle to maintain the ventricles pumping together. A CRT-D is a system that includes the capabilities of a CRT and an ICD. It prevents the ventricles from colliding. The CRT-D provides a shock to restore normal rhythm if they become out of sync due to ventricular tachycardia or fibrillation. CRT, with or without an ICD, improves the symptoms of about 75% of patients who do not find relief from their symptoms with medication. Cardiac resynchronization therapy improves the quality of life, survival, heart function, and exercise capacity, as well as lowers hospitalization risk.
COVID-19 Impact Analysis
The COVID-19 outbreak is one of the most hazardous pandemics that majorly demolished the worldwide economy. Various businesses were completely devastated while several were majorly impacted due to the advent of the pandemic. Governments all over the world were compelled to impose lockdowns across their countries, due to which, the manufacturing units of numerous goods were temporarily closed. Moreover, the global supply chain was also disrupted as a result of stringent travel restrictions imposed by governments. Owing to this, the growth of various industries was hampered.
Market Growth Factors
Increase in the prevalence of cardiac diseases all over the world
The failure of the ventricles in order to pump enough blood to the body's organs is the initial stage of congestive heart failure. Fluid builds up in the lungs, liver, belly, and lower body as a result of this. The technologies used to treat CHF include pacemakers, cardiac resynchronization therapy (CRT), implantable cardioverter defibrillators (ICDs), as well as ventricular assist devices. The market for congestive heart failure treatment devices is being driven by an increase in the number of cardiovascular ailments, technical advancements, and the number of cardiovascular procedures.
Rising number of initiatives by government and market players
One of the major factors that are propelling the growth of the congestive heart failure devices market is the increasing number of efforts and initiatives that are being taken by the government and market players all over the world. Governments in several countries have introduced a number of healthcare schemes, which, a patient can leverage for the treatment of several diseases and disorders. In addition, congestive heart failure is a very lethal and prevalent disorder, becoming the reason for the death of a considerable number of people all over the world each year. The inclusion of CHF in these policies is allowing people to take advantage of CHF treatment devices.
Marketing Restraining Factor:
High cost of these devices
One of the major factors that are impeding the deployment of congestive heart failure treatment devices is the high cost of these devices that are occurred in installing and operating these devices. There is a significant number of people that suffers from cardiac disorders and diseases all over the world. Congestive heart failure treatment devices are the most effective and quick treatment for these disorders. However, people all over the world are not able to leverage the full benefits of these devices due to their high cost. The implementation cost of these devices is significantly high due to the composition of various complex and advanced technologies.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Approvals and Trials
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Acquisitions and Mergers: 2018, Jul - 2022, Feb) Leading Players
Chapter 4. Global Congestive Heart Failure (CHF) Treatment Devices Market by Product Type
4.1 Global Pacemakers Market by Region
4.2 Global Implantable Cardioverter Defibrillators Market by Region
4.3 Global Cardiac Resynchronization Therapy Market by Region
4.4 Global Ventricular Assist Devices Market by Region
Chapter 5. Global Congestive Heart Failure (CHF) Treatment Devices Market by Region
Chapter 6. Company Profiles
6.1 Boston Scientific Corporation
6.1.1 Company Overview
6.1.2 Financial Analysis
6.1.3 Segmental and Regional Analysis
6.1.4 Research & Development Expense
6.1.5 Recent strategies and developments:
6.1.5.1 Approvals and Trials:
6.1.5.2 Product Launches and Product Expansions:
6.1.5.3 Acquisition and Mergers:
6.2 MicroPort Scientific Corporation
6.2.1 Company Overview
6.2.2 Financial Analysis
6.2.3 Segmental and Regional Analysis
6.2.4 Research & Development Expense
6.2.5 Recent Strategies and Developments:
6.2.5.1 Approvals and Trials:
6.2.5.2 Product launches and Product Expansions:
6.3 Abbott Laboratories
6.3.1 Company Overview
6.3.2 Financial Analysis
6.3.3 Segmental and Regional Analysis
6.3.4 Research & Development Expense
6.3.5 Recent strategies and developments:
6.3.5.1 Partnerships, Collaborations, and Agreements:
6.3.5.2 Approvals and Trials:
6.3.5.3 Acquisitions and Mergers:
6.3.5.4 Product Launches and Product Expansions:
6.4 Medtronic PLC
6.4.1 Company overview
6.4.2 Financial Analysis
6.4.3 Segmental and Regional Analysis
6.4.4 Research & Development Expenses
6.4.5 Recent strategies and developments:
6.4.5.1 Partnerships, Collaborations, and Agreements:
6.5 Abiomed, Inc.
6.5.1 Company Overview
6.5.2 Financial Analysis
6.5.3 Regional Analysis
6.5.4 Research & Development Expenses
6.5.5 Recent strategies and developments:
6.5.5.1 Approvals and Trials:
6.5.5.2 Acquisition and Mergers:
6.6 Berlin Heart GmbH
6.6.1 Company Overview
6.6.2 Recent strategies and developments:
6.6.2.1 Partnerships, Collaborations, and Agreements:
6.7 Jarvik Heart, Inc.
6.7.1 Company Overview
6.8 Lepu Medical Technology (Beijing) Co., Ltd.
6.8.1 Company Overview
6.9 BIOTRONIK SE & Co. KG
6.9.1 Company Overview
6.9.2 Recent strategies and developments:
6.9.2.1 Partnerships, Collaborations and Agreements:
6.9.2.2 Approvals & Trials:
6.9.2.3 Product Launches and Product Expansions:
6.10. Osypka Medical GmbH
6.10.1 Company Overview
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