Congestive Heart Failure (CHF) Treatment Devices Market Report

Congestive Heart Failure (CHF) Treatment Devices Market Analysis by Product (Ventricular Assist Devices, Counter Pulsation Devices, Implantable Cardioverter Defibrillators, Pacemakers, Cardiac Resynchronization Therapy) And Segment Forecasts to 2024

Published: October 2016  |  105 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-292-1

Industry Insights

The Congestive Heart Failure (CHF) treatment devices market was valued at USD 15.6 billion in 2015 and is expected to witness a CAGR of 8.1% over the forecast period.

Rising burden of Cardiovascular Diseases (CVDs) is one of the prime factors responsible for the lucrative growth of the CHF treatment devices market. Sedentary lifestyles, mental stress, and junk food consumption are other key factors associated with the development of CVDs.

Global congestive heart failure treatment devices market, by product

Global congestive heart failure treatment devices market

CVDs are a group of disorders characterized by functional or structural abnormalities or both that affect the functioning of the heart and the associated blood vessels. According to the World Health Organization, CVDs contribute to the maximum number of deaths globally. In 2012, approximately 17.5 million deaths were reported from CVDs, representing 31.0% of the global death statistics. Of the 17.5 million deaths reported, 7.4 million were due to coronary heart disease and 6.7 million were due to stroke.

Favorable reimbursement policies, such as the U.S. Medicare system, is a prime growth factor for this vertical. Medical device companies now provide new product platforms, which are covered under reimbursement programs that benefit the patient. The reimbursement can be availed for devices, such as VADs, ICDs, and pacemakers that are used to treat CHF.

Individuals above 60 years of age forms the key target population for CHF treatment devices. This demographic is characterized with low immunity levels and are prone to chronic diseases including CVDs; and thereby serve as a high impact rendering driver for the growth of these products over the forecast period. As a result, the latest treatments available in cardiac care are expected to increase the life span of the elderly population subset. The chart below forecasts the number of geriatric patients over the next six years, which form the routine target group contributing to the rise in surgical volumes.

Product Insights

The Implantable Cardioverter Defibrillators (ICDs) held lucrative share in the market due to its ability to perform three basic functions, which include defibrillation, cardioversion, and pacing of heart. The ICD segment consisting of two types, transvenous and subcutaneous, held a lucrative share in 2015, which was followed by the pacemaker’s segment. This can be attributed to the fact that defibrillators and pacemakers form the primary line of treatment administered for heart failure. On the other hand, the VAD segment is anticipated to grow at a significant rate over the forecast period due to reimbursement coverage and technological advancements in VADs

North America congestive heart failure treatment devices market, by product

North America congestive heart failure treatment devices market

North America dominated the overall industry in terms of revenue share at over 40.0% in 2015; this can be attributed to the presence of a large population base suffering from cardiovascular disorders coupled with a significant geriatric population base. Asia-Pacific is expected to grow at the fastest CAGR during the forecast period and its share is expected to grow, owing to the increasing demand for these products. Furthermore, the rapidly improving healthcare infrastructure in the countries, such as India and Japan, also contribute toward the growth of this region.

According to the American Heart Association, 17.3 million deaths occur due to cardiovascular disorders and this number is expected to rise to 23.6 million by 2030. This high prevalence resulted in greater usage of these equipment in this region. In addition, developed healthcare infrastructure in the U.S. facilitated access to advanced therapeutics. This contributed to the growth of this region. Moreover, availability of reimbursement for cardiovascular therapies supported the growth substantially.

Congestive Heart Failure Treatment Devices Market Share

Some of the market players of in this vertical include Medtronic Plc, Boston Scientific Corporation, Biotronik SE & Co., KG, St. Jude Medical, among others. The operating strategies adopted by the these players includes new product launches and regional expansions.

For instance, in November 2015, Biotronik launched Biomonitor 2 in Europe, which is an implantable cardiac remote monitor. The product launch is anticipated to help the company expand its existing product portfolio in Europe. 

Congestive heart failure treatment devices market: Competitive Scenario

Congestive heart failure treatment devices market

Biotronik also launched Ilesto series of the CRT-D system in May 2013, post FDA-approval for the treatment of atrial fibrillation. The product launch will aid Biotronik in expanding its cardiac rhythm management product offerings.

Congestive Heart Failure Treatment DevicesReport Scope

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Market Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the market trends in each of the sub-markets from 2013 to 2024. For the purpose of this study, Grand View Research has segmented remote patient monitoring devices market on the basis of product and region: 

  • Global CHF Treatment Devices Market by Product(USD Million), 2013 - 2024
    • Ventricular Assist Devices (VADs)

      • LVAD

      • RVAD

      • BiVAD

    • Counter Pulsation Devices

    • Implantable Cardioverter Defibrillators

      • Transvenous ICD

      • Subcutaneous ICD

    • Pacemakers

      • Implantable

      • External

    • Cardiac Resynchronization therapy

      • Cardiac Resynchronization Therapy-Defibrillators (CRT-D)

      • Cardiac Resynchronization Therapy-Pacemakers (CRT-P)

  • CHF Treatment Devices Market by Region (USD Million), 2013 - 2024
    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • MEA

      • South Africa

      • Saudi Arabia

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