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Congestive Heart Failure (CHF) Treatment Devices Market Trends

Report ID: GMI7994
Published Date: Jan 2024
Report Format: PDF

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Congestive Heart Failure Treatment Devices Market Trends

The market is experiencing robust growth, propelled by continuous technological advancements and the introduction of innovative devices. The integration of medical science and cutting-edge technology has resulted in the development of advanced treatment options for individuals suffering from congestive heart failure.

Ongoing technological breakthroughs have led to the development of highly sophisticated implantable devices such as pacemakers, implantable cardioverter-defibrillators (ICDs), and cardiac resynchronization therapy (CRT) devices. For instance, in January 2023, Boston Scientific launched the EMBLEM MRI S-ICD systems in Europe.
Similarly, in September 2022, Abbott received the U.S. Food and Drug Administration (FDA) approval for its Gallant CRT-D and CRT-P devices. These devices incorporate advanced algorithms, remote monitoring capabilities, and enhanced energy efficiency, contributing to better patient outcomes.
Moreover, artificial intelligence (AI) and machine learning algorithms are increasingly being incorporated into CHF treatment devices to analyze complex datasets. These technologies enable predictive analytics, helping healthcare providers identify potential complications and tailor treatment plans based on individual patient profiles.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Congestive heart failure (CHF) treatment devices industry size was USD 23.5 billion in 2023 and is anticipated to surpass USD 41.7 billion by 2032 owing to the rising prevalence of heart failure and cardiovascular diseases and an increasing awareness regarding heart failure treatment.

The defibrillators segment accounted for 52.6% share of the CHF treatment devices industry in 2023 and is projected to grow at a robust pace through 2032 attributed to their extensive use in hospital settings, emergency departments, and cardiac care units.

North America congestive heart failure treatment devices industry size was USD 10.3 billion in 2023 and is set to exhibit robust growth through 2032 driven by the presence of leading industry players, an increasing demand for cardiovascular devices.

Leading congestive heart failure treatment device firms are Abbott Laboratories, Biotronik SE & Co. KG, Boston Scientific Corporation, Koninkilijke Philips N.V., LivaNova PLC, Medtronic plc, MicroPort Scientific Corporation, OSCOR Inc., St. Jude Medical, Inc., Stryker Corporation, and Terumo Corporation.