Congestive Heart Failure (CHF) Treatment Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Congestive Heart Failure (CHF) Treatment Devices Market is Segmented by Product (Ventricular Assist Devices (LVAD, RVAD, BiVAD), Counter Pulsation Devices, Implantable Cardioverter Defibrillators (Transvenous ICD, Subcutaneous ICD), Pacemakers (Implantable, External), and Cardiac Resynchronization Therapy (Cardiac Resynchronization Therapy-Defibrillators (CRT-D), Cardiac Resynchronization Therapy-Pacemakers (CRT-P)), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD billion) for the above segments.

Market Snapshot

cagr
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 8.1 %

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Market Overview

The Congestive Heart Failure (CHF) Treatment Devices Market is expected to register a CAGR of 8.1% during the forecast period.

The COVID-19 has been reported to cause worse outcomes in patients with underlying cardiovascular disease, especially in patients with acute cardiac injury. According to a research article by Tarun Dalia et al., published in the Indian Heart Journal February 2021, the presence of congestive heart failure (CHF) in patients with COVID-19 is associated with increased mortality and worse outcomes. Moreover, there is an increased risk of acute cardiac injury and cardiac arrhythmia among non-survivors and severe COVID-19 patients.

An increasing patient pool of cardiovascular diseases (CVDs) is one of the prime factors augmenting the growth of the CHF treatment devices market. Sedentary lifestyles, junk food consumption, and mental stress are other key factors associated with the development of CVDs. As per the World Health Organization, in 2019, cardiovascular disease is the leading cause of death globally, taking an estimated 17.9 million lives each year. As a result, the huge target population is positively impacting the growth of the congestive heart failure treatment devices market.

The increasing geriatric population is also leading to upsurge in the cases of CVDs worldwide. For instance, as per United Nations World Ageing 2019 report, majority share of the older population is contributed by Eastern and South Eastern Asia followed by Europe and North America. Eastern and South Eastern Asia is also expected to observe a largest increase by about 312 million in the coming years as compared to any other regions. Furthermore, in 2019, there were around 200 million people who were 65 years and above in North America and Europe regions.This demographic is prone to chronic diseases including CVDs and is characterized by low immunity levels, and thereby serves 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 market players are focusing on adopting new growth strategies such as product launches, developments, mergers, and acquisitions to enhance market share. For instance, in October 2018, Abbott Laboratories received approval from U.S. Food and Drug Administration (FDA) for HeartMate 3 Left Ventricular Assist Device (LVAD) in the treatment of heart failure.

Furthermore, supportive government legislation and initiatives in the emerging economies and improving healthcare infrastructure to spread awareness about CVDs occurring in population is working as a growth stimulant to overall market. The developing countries are focusing more on increasing reach of heart diseases awareness programs, which in turn is expected to trigger the adoption of these devices. In addition, technological advancement such as integration of digital platforms with CHF treatment devices is working in favor of the overall market. However, the high cost of CHF treatment devices may hamper the growth of the market over the forecast period.

Scope of the Report

As per scope of the report, congestive heart failure (CHF) is a chronic progressive condition that affects the pumping power of heart muscle. Left-sided CHF is the most common type of CHF. It occurs when left ventricle doesn’t properly pump blood out to body. The congestive heart failure (CHF) treatment devices market is Segmented by Product (Ventricular Assist Devices (LVAD, RVAD, BiVAD), Counter Pulsation Devices, Implantable Cardioverter Defibrillators (Transvenous ICD, Subcutaneous ICD), Pacemakers (Implantable, External), and Cardiac Resynchronization Therapy (Cardiac Resynchronization Therapy-Defibrillators (CRT-D), Cardiac Resynchronization Therapy-Pacemakers (CRT-P)), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD billion) for the above segments.

By Product
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)
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Implantable Pacemakers Segment is Expected to Hold Significant Market Share Over the Forecast Period

Implantable pacemaker is a device that uses electrical impulses to regulate the heart rhythm. An internal pacemaker is one in which the electrodes are placed in the heart and electronic circuitry and the power supply are implanted within the body. Moreover, by regulating the heart’s rhythm, a pacemaker can often eliminate the symptoms of bradycardia which means individuals often have more energy and less shortness of breath.

According to a research article by Ana C Gonzales-Luna et al., published in Journal of Arrhythmia July 2020, due to COVID-19 pandemic, there was a reduction in the pacemaker implant of 73% and a reduction of 78% of patients with the diagnosis of complete or high-grade atrioventricular block and a reduction in the de-novo pacemaker implant was observed, regardless of the etiology. Thus, the study results indicate that there was a significant reduction in de-novo pacemaker implantation during the months of the COVID-19 pandemic 2020.

The major factors driving the implantable pacemakers segment growth include rising cardiovascular patients along with increasing geriatricpopulation, reimbursement coverage and technological advancements such as exclusive algorithms to accurately detect and reduce the likelihood of atrial fibrillation.

According to the World Population Ageing 2019 report, in China population aged above 65 years or over is expected to reach 365.63 million by 2050 from 164.48 million in 2019. As the aged population are more prone to the chronic diseases such as cardiovascular diseases which will boost the during the forecast period.

The market leaders are involved in product launches, collaborations, expansions, and acquisitions to sustain the competition. For instance, in January 2020, Medtronic Plc received approval from U.S. Food and Drug Administration (FDA) for Micra AV, the world’s smallest pacemaker with atrioventricular (AV) synchrony. Micra AV is indicated for the treatment of patients with atrioventricular (AV) block, a condition in which the electrical signals between the chambers of the heart (the atria and the ventricle) are impaired. Thus, all the above factors are expected to contribute to the good growth of this segment over the forecast period.

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North America is Expected to Dominate the Market Over the Forecast Period

Some of the factors that are driving the market growth in North America region include increasing demand for congestive heart failure (CHF) treatment, the increasing prevalence of target disorders, high expenditure on healthcare, and an increase in awareness among population regarding availability of treatment devices. Moreover, strong clinical pipeline, favorable reimbursement policies for therapeutic products, and higher adoption of these devices are the other factors anticipated to promote the growth in revenue.

According to the Centers for Disease Control and Prevention (CDC), COVID-19 patients with underlying heart condition are still more likely to become severely ill. In addition, according to the American College of Cardiology (ACC), on March 6, 2020, people who have underlying cardiovascular disease actually have a higher mortality rate when it comes to COVID-19 (10.5%) than people who have an underlying chronic respiratory disease (6.3%).

Several companies are starting various strategies like collaboration, new product launch, merger and acquisition in order to maintain and increase their market share. For instance, inJune 2020, Philips announced that the Center for Devices and Radiological Health (CDRH) of the United States Food and Drug Administration (FDA) has granted premarket approval (PMA) for the company’s HeartStart FR3 and HeartStart FRx automated external defibrillators (AEDs).

Furthermore, supportive awareness initiatives for the disease awareness are projected to support the market for cardiovascular devices in North America region. For instance, in 2020, Mexico has joined the HEARTS initiative to strengthen primary health care for cardiovascular diseases. Thus, considering above mentioned factors it is expected to fuel the market growth in North America region over the forecast period.

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Competitive Landscape

The Congestive Heart Failure (CHF) Treatment Devices Market is moderately fragmented, in terms of competition with many local manufacturers competing with international companies. Companies are more focused on developing high-utility products, which can deliver personalized care. These advancements are improving accuracy, providing additional capabilities to enhance the workflow, and facilitating error reduction. Some of the market players include Jarvik Heart, Inc., Medtronic Plc, Boston Scientific Corporation, Abbott Laboratories, Biotronik SE & Co. KG, among others.

Recent Developments

  • In February 2021, Teleflex Inc. completed its acquisition of Z-Medica LLC, an industry-leading manufacturer of hemostatic products.
  • In December 2020, Abbott Laboratories announced that U.S. Food and Drug Administration (FDA) has approved updated labeling for the company's HeartMate 3 heart pump to be used in pediatric patients with advanced refractory left ventricular heart failure.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Prevalence of Cardiovascular Diseases (CVD)

      2. 4.2.2 Advent of Technological Advanced Products

    3. 4.3 Market Restraints

      1. 4.3.1 High cost of devices

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Ventricular Assist Devices (VADs)

        1. 5.1.1.1 LVAD

        2. 5.1.1.2 RVAD

        3. 5.1.1.3 BiVAD

      2. 5.1.2 Counter Pulsation Devices

      3. 5.1.3 Implantable Cardioverter Defibrillators

        1. 5.1.3.1 Transvenous ICD

        2. 5.1.3.2 Subcutaneous ICD

      4. 5.1.4 Pacemakers

        1. 5.1.4.1 Implantable

        2. 5.1.4.2 External

      5. 5.1.5 Cardiac Resynchronization Therapy

        1. 5.1.5.1 Cardiac Resynchronization Therapy-Defibrillators (CRT-D)

        2. 5.1.5.2 Cardiac Resynchronization Therapy-Pacemakers (CRT-P)

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

      2. 5.2.2 Europe

        1. 5.2.2.1 Germany

        2. 5.2.2.2 United Kingdom

        3. 5.2.2.3 France

        4. 5.2.2.4 Italy

        5. 5.2.2.5 Spain

        6. 5.2.2.6 Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 Japan

        3. 5.2.3.3 India

        4. 5.2.3.4 Australia

        5. 5.2.3.5 South Korea

        6. 5.2.3.6 Rest of Asia-Pacific

      4. 5.2.4 Middle East and Africa

        1. 5.2.4.1 GCC

        2. 5.2.4.2 South Africa

        3. 5.2.4.3 Rest of Middle East and Africa

      5. 5.2.5 South America

        1. 5.2.5.1 Brazil

        2. 5.2.5.2 Argentina

        3. 5.2.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 Berlin Heart

      3. 6.1.3 Biotronik SE & Co. KG

      4. 6.1.4 Boston Scientific Corporation

      5. 6.1.5 Jarvik Heart Inc.

      6. 6.1.6 Medtronic Plc

      7. 6.1.7 ReliantHeart Inc.

      8. 6.1.8 Siemens Healthcare

      9. 6.1.9 Teleflex Incorporated

      10. 6.1.10 Abiomed, Inc

      11. 6.1.11 Berlin Heart GmbH

      12. 6.1.12 LivaNova PLC

      13. 6.1.13 Edwards Lifesciences Corporation

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Global Congestive Heart Failure (CHF) Treatment Devices Market market is studied from 2018 - 2026.

The Global Congestive Heart Failure (CHF) Treatment Devices Market is growing at a CAGR of 8.1% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Jarvik Heart, Inc., Medtronic Plc, Boston Scientific Corporation, Abbott Laboratories, Biotronik SE & Co. KG are the major companies operating in Global Congestive Heart Failure (CHF) Treatment Devices Market.

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