Heart failure

Congestive heart failure treatment devices market size is worth $28.63 billion by 2030, according to The Brainy Insights

NEWARK, New Jersey, August 19, 2022 /PRNewswire/ — According to the report published by The Brainy Insights, the congestive heart failure treatment devices market should go from $15.67 billion in 2021 for $28.63 billion by 2030, at a CAGR of 6.93% over the forecast period 2022-2030.

Growing healthcare burden and increase in healthcare facilities is expected to increase the demand for congestive heart failure treatment devices over the projection period. Additionally, technological advancements in congestive heart failure treatment devices are also helping propel the growth of the market. However, the high cost of congestive heart failure treatment devices, strict government regulations for the approval of congestive heart failure treatment devices, and the increased preference for drugs for the treatment of congestive heart failure treatment devices. congestive heart failure are restraining market growth. Moreover, the ever-increasing investments by major players in technological advancements and innovative low-cost products are providing opportunities for market growth.

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Competitive Strategy

To strengthen their position in the global congestive heart failure treatment devices market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships.

  • For example, in February 2021Teleflex has completed the acquisition of Z-Medica LLC, a leading manufacturer of hemostatic products.

Market growth and trends

The growth of congestive heart failure treatment devices market is driven by changing lifestyles, number of cardiovascular methods and increasing cases of heart failure. Additionally, continuous technological advancement in medical devices is the growth trend of the market. Additionally, technological advances in ventricular assist devices, including continuous flow technology, have helped provide extended support, improved implantability and effectiveness, and improved the overall patient experience by creating a demand for these devices, which is contributing to the growth of the congestive heart failure treatment devices market. Additionally, the emphasis on early intervention and primary prevention of heart disease is also helping to drive the growth of the market. Additionally, funding provided by different governments will aid in the R&D of these devices, further boosting the growth of the congestive heart failure treatment devices market.

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Main findings

  • In 2021, the pacemaker segment dominated the market with the largest market share of 30.23% and revenue of 4.73 billion.

The product type segment is divided into implantable cardioverter defibrillators, ventricular assist devices, pacemakers and cardiac resynchronization therapy. In 2021, the pacemaker segment dominated the market with the largest market share of 30.23% and revenue of 4.73 billion. This growth is attributed to the rising cost of managing heart disease. Additionally, by 2030, ventricular assist devices segment is likely to dominate the market owing to the rise of several key vendors in the development of congestive heart failure treatment devices in the device industry medical.

  • In 2021, the hospital segment dominated the market with the largest market share of 41.12% and revenue of 6.44 billion.

The end-user segment is divided into outpatient surgical centers, hospitals and others. In 2021, the hospital segment dominated the market with the largest market share of 41.12% and revenue of 6.44 billion. This growth is attributed to the increase in disposable income, especially in developing countries.

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Regional Segment Analysis of Congestive Heart Failure Treatment Devices Market:

  • North America (WE, Canada, Mexico)
  • Europe (Germany, FranceUK, Italy, SpainRest of Europe)
  • Asia Pacific (China, Japan, IndiaRest of APAC)
  • South America (Brazil and the rest of South America)
  • The Middle East and Africa (UNITED ARAB EMIRATES, South Africarest of the MEA)

The North American region was the largest market for the global congestive heart failure treatment devices industry, with a market share of 47.39% and a market value of around $7.42 billion in 2021. North America Currently dominates the market for congestive heart failure treatment devices due to the development of technologically advanced healthcare institutions. Additionally, growing demand for advanced technologies in congestive heart failure treatment devices and increasing expansion activities through strategic mergers and acquisitions are also driving the market growth in this region. Moreover, the Asia Pacific The region is expected to post the fastest CAGR of 8.15% over the projection period. This growth is attributed to the surge in the use of life support systems and the development of healthcare infrastructure. In addition, market penetration by key players and increasing medical tourism in countries like Singapore and Malaysia are also driving the growth of the market in this region.

Leading players operating in the global Congestive Heart Failure Treatment Devices Market are:

  • Abiomed Inc.
  • Biotronik SE and Co. KG
  • Lepu Medical
  • Abbot Laboratories
  • Boston Scientific Society
  • Medtronic AG
  • Heart of Berlin GmbH
  • Microport Scientific Corporation
  • Jarvik Heart Inc
  • Osypka Medical GmbH

This study forecasts revenue at global, regional and country levels from 2019 to 2030. The Brainy Insights has segmented the global congestive heart failure treatment devices market based on the segments mentioned below:

Global Congestive Heart Failure Treatment Devices Market By Type of product:

  • Implantable Cardiac Defibrillators
  • Ventricular assist devices
  • Pacemakers
  • Cardiac resynchronization therapy

Global Congestive Heart Failure Treatment Devices Market By Final user:

  • Ambulatory surgery centers
  • Hospitals
  • Others

About the report:

The global congestive heart failure treatment devices market is analyzed on the basis of value (USD billion). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porter’s Five Forces Model, Attractiveness Analysis, Commodity Analysis, Supply and Demand Analysis, Competitor Position Grid Analysis and analysis of distribution and marketing channels.

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