Implantable cardioverter-defibrillator (ICDs) segment is expected to dominate the global CHF treatment devices market throughout the forecast period. North America is projected to continue its lead in terms of revenue, accounting for more than two-fifths share of the CHF treatment devices.
The major factors boosting the market growth include the growing incidence of heart failures, technological advancements in CHF treatment devices, and increasing adoption rates for these devices. In addition, rising incidence of diabetes, atherosclerosis, strokes, hypertension, and others due to faulty lifestyle habits such as unhealthy dietary habits, lack of physical activity, and smoking, among others are the leading causes of congestive heart failure.
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Rising geriatric population base is expected to fuel the prevalence of congestive heart failures thereby augmenting the market growth. Presence of huge unmet medical needs and rising emphasis on early intervention and primary prevention of heart failures are also anticipated to drive the demand for these devices. However, high cost of these devices and unfavorable reimbursement scenario in the emerging countries are some of the factors that restrict the market growth.
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.
The Major Key Players Are:
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.
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Key Findings of the CHF Market:
1. By product type, the pacemakers segment was the highest contributor to the congestive heart failure treatment devices market size in 2020.
2. Region wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period
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Related Terms::: New device for congestive heart failure, Heart failure devices, cpap vs bipap for chf, Congestive Heart Failure (CHF) Treatment Devices Market in Australia, Congestive Heart Failure (CHF) Treatment Devices Market in U.S., Congestive Heart Failure (CHF) Treatment Devices Market in Europe, Congestive Heart Failure (CHF) Treatment Devices Market in Japan, Congestive Heart Failure (CHF) Treatment Devices Market in South Korea, Congestive Heart Failure (CHF) Treatment Devices Market in Malaysia, Congestive Heart Failure (CHF) Treatment Devices Market in Singapore
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