Congestive Heart Failure (CHF) Treatment Devices Market Analysis, Latest Innovation, Advance Technology, Demand and Witness Global Need

According to a new report released by Allied Market Research, the market for global congestive heart failure (CHF) therapy, which is expected to grow at a CAGR of 5.5% from 2022 to 2022, is expected to reach $ 14.8 billion by 2022. ICD (Intelligent Cardioverter-Defibrillator) dominate the global CHF processor market over the forecast period. North America is expected to remain at the forefront of sales in terms of sales, which account for more than two-fifths of CHF therapy devices.

Key factors that promote market growth include increased incidence of heart attack, technological advances in CHF therapy devices, and increased adoption of these devices. In addition, increased incidence of diabetes, atherosclerosis, stroke, and hypertension is a major cause of congestive heart failure due to deficiencies in lifestyles such as unhealthy eating habits, lack of physical activity, and smoking.

The growing population base of the elderly is expected to stimulate the prevalence of congestive heart failure and promote market growth. There is a huge unmet medical need and emphasis on early intervention and primary prevention of heart attack is expected to lead to demand for these devices. However, the high cost of this device and adverse repayment 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.
• St. Jude Medical Inc.

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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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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This release was published on openPR.