Congestive Heart Failure (CHF) Treatment Devices Market: Including Top Companies Abiomed, Inc., Berlin Heart GmbH, Biotronik SE & Co. KG, Boston Scientific Corporation, HeartWare International, Inc. and more

According to a new report published by Allied Market Research, the global Congestive Heart Failure (CHF) Treatment Devices Market expected to grow at a CAGR of 5.5% from 2022 to 2022, is expected to reach $ 14.8 billion by 2022. Implantable cardioverter-defibrillator (ICD) monopolizes the global CHF processor market throughout the forecast period. North America is expected to stay at the forefront in terms of revenue, which accounts for more than two-fifths of CHF therapy devices.

Key factors driving market growth include increased rates of heart attack, technological advances in CHF therapy devices, and increased adoption of these devices. Increased incidence of diabetes, atherosclerosis, stroke and hypertension due to poor habits of eating, lack of physical activity and smoking are major causes of congestive heart failure. An increasingly aging population base is expected to stimulate the prevalence of congestive heart failure and promote market growth.

The presence of huge unmet medical needs and the emphasis on early intervention and major prevention of heart attack are expected to stimulate demand for these devices. However, the high cost of this device and adverse reimbursement scenarios in emerging countries are some of the factors limiting market growth.

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The key players profiled include
• 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.

Key Findings of the CHF Market:
• In 2015, ICDs accounted for almost one-third of the overall market revenue, and is projected to grow at a CAGR of 4.8% during the forecast period.
• The VADs segment is likely to grow at a remarkable CAGR of 11.9%, owing to the innovation and miniaturization of devices.
• North America accounted for over 40% share of the global CHF treatment devices market in 2015.
• The U.S. is projected to maintain its lead in the CHF treatment devices market until 2022.
• China and Japan are the major shareholders in the Asia-Pacific region, jointly accounting for almost half of share in the Asia-Pacific market.

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Geographically, North America accounted for the majority of the share in the CHF treatment devices market in 2015, and is expected to maintain this lead throughout the forecast period. This was mainly attributed to the increasing incidence of heart failures, presence of highly sophisticated healthcare infrastructure, and adoption of advanced CHF treatment devices in the North American countries.

However, Asia-Pacific is expected to be the fastest growing region throughout the analysis period, owing to ample growth opportunities in terms of unmet medical needs for the treatment of cardiac disorders in these regions.

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This release was published on openPR.