Congestive Heart Failure Treatment Devices Market size is projected to expand at a rapid pace from 2022 to 2028. This is driven by lifestyle changes and unhealthy dietary habits, which consequently increase the risk of death associated with chronic conditions including heart disease. Additionally, the implementation of varied chronic disease management programs for elderly people will further add impetus to the consumption of CHF medications in the coming years. Congestive heart failure (CHF) refers to a chronic progressive condition that affects the pumping action of the heart muscle. It usually occurs when fluid builds up within the heart, which causes it to pump inefficiently. Various cardiac devices can be used to maintain a normal heartbeat, including an implantable cardiac defibrillator, an electronic device placed inside the body to keep track of the heart rhythm.
Rising deployment of cutting-edge technologies such as AI and ML to improve cardiac care is among the prominent trends augmenting market growth through 2028. One of these recent advancements includes Bluetooth-enabled cardiac devices that can measure various parameters and transfer them back to the healthcare providers to remotely provide patient care. Likewise, a considerable increase in healthcare spending in emerging economies and the global burden of obesity will stimulate the market outlook. Since excess weight is linked to an enlarged left ventricle, the treatment of congestive heart failure will surge exponentially in the coming years.
Implantable cardioverter-defibrillators will emerge as a major product segment for the market by 2028, due to the strong potential of ICDs in treating arrhythmias. According to WebMD’s data, cardiac deaths owing to abnormal heart rhythms account for over 50% of all heart-related deaths. This, alongside the expansion of the EP Device Implant Registry by the American College of Cardiology, covering implantation of devices like ICDs across more than 800 institutions, will further generate opportunities for segment expansion over the coming years.
The Europe congestive heart failure treatment devices market will register an appreciable revenue by 2028, on account of lifestyle factors such as smoking and alcohol abuse. As per data from N-IUSSP, 60% of the Europeans are current drinkers, while 43% of these are considered heavy episodic drinkers, which could amplify the need for congestive heart failure management, as excessive alcohol consumption can lead to heart failure. Moreover, the increased risk of CVDs and the presence of multiple policies and programs to improve healthcare infrastructure are also likely to contribute to the regional growth.
Key congestive industry players include ABIOMED, LivaNova, Jarvik Heart Inc., Berlin Heart Gmbh, Biotronik, Teleflex Inc., St. Jude Medical Inc. (Abbott), Medtronic, and Boston Scientific Corporation. These companies are focusing on strategies like new product launches, partnerships, and acquisitions to strengthen their presence in the competitive market. For instance, Abbott expanded the capacity and supply of its HeartMate 3 ventricular assist devices or mechanical circulatory support devices in June 2021, with an objective to effectively treat patients with advanced heart failure.
In light of the coronavirus pandemic, significant disruptions in terms of cardiovascular testing have been witnessed worldwide. Over the past months, the outbreak has posed an indirect impact on heart disease patients due to the stay-at-home measures. During the height of the pandemic, the hospitals in countries including the U.S. reported a decline in diagnosis and treatment of heart attack and stroke patients at the hospital, which have negatively affected congestive heart failure treatment devices industry dynamics. However, the industry is set to gain traction over the foreseeable future, given the rising awareness about the intermediate and long-term consequences of the virus on the cardiovascular systems.
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