Congestive Heart Failure (CHF) Treatment Devices Market Size

Congestive Heart Failure (CHF) Treatment Devices Market Analysis

The Congestive Heart Failure Treatment Devices Market size is estimated at USD 21.84 billion in 2024, and is expected to reach USD 29.98 billion by 2029, growing at a CAGR of 6.54% during the forecast period (2024-2029).

Due to the high infection rate and lockdown regulations brought on by the COVID-19 pandemic, surgical procedures have been affected. The congestive heart failure market has been impacted, and patients with cardiovascular disorders have further encountered delays in diagnosis and treatment as a result of fewer individuals visiting hospitals and diagnostic centers. For instance, a March 2022 research study published in the National Library of Medicine found that between February 2020 and January 2021, there was a 52.7% decrease in the volume of adult cardiac surgery and a 65.5% decrease in elective cases, which shows the negative impact of COVID-19 on the cardiac surgical procedures. But as the COVID-19 instances subsided and the market began to recover, the number of operations increased. Various research has been conducted by scientists to find the impact of COVID-19 infection and cardiac diseases. A group of scientists in the United States researched COVID-19 patients and published the article in the National Library of Medicine in April 2022. The article also stated that COVID-19 hospitalized patients possess a high risk of the development of atrial or ventricular arrhythmias in the United States. Thus, such risk of arrhythmias among hospitalized patients in the country increased the demand for CHF treatment devices used for various cardiac procedures. Thus, such increasing chances of CHF due to COVID-19 are expected to increase the market growth.

An increasing patient pool of cardiovascular diseases (CVDs) and a surge in congestive heart failure (CHF) cases are prime factors augmenting the growth of the CHF treatment devices market. The surge in CVDs leads to a rising in risk related to heart failure, thereby driving the demand for devices used in the treatment of CHF. Sedentary lifestyles, junk food consumption, and mental stress are other key factors associated with the development of CVDs. The increasing geriatric population is also leading to an upsurge in the cases of CVDs, worldwide. For instance, as per the November 2021 report published by the Asian Pacific Observatory on Health Systems and Policies, by 2050, about one-fourth population of the Asia-Pacific region will be 60 years or older due to the decreasing fertility rate in the region and increasing longevity which is further expected to increase the burden of the cardiovascular diseases and thus, driving the demand for the effective and advanced treatment procedures thus increasing market growth. This demographic is prone to chronic diseases, including CHF. It is characterized by low immunity levels, thereby serving 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 lifespan of the elderly population.

The World Heart Federation report published in 2022 stated that cardiovascular disease, which includes heart disease and stroke, is the most common non-communicable disease globally. Thus, the increasing prevalence of cardiovascular diseases is responsible for boosting the growth of the market. According to a June 2021 article by the National Library of Medicine, age-standardized estimates of cardiovascular disease prevalence in Italy are similar to the global prevalence. Still, the country's crude prevalence is almost two times higher than the global prevalence (12.9% vs. 6.6%). The increasing prevalence of cardiovascular diseases is expected to increase the demand for various congestive heart failure devices, such as pacemakers which are expected to increase the market growth over the forecast period.

Additionally, technological advancements in CHF treatment devices are working in favor of the overall market. For instance, in August 2022, released data from Abbott stated that the HeartMate 3 heart pump improves patients' lives by at least five years and represents a definite life-saving alternative for those dealing with severe disease. The MOMENTUM 3 experiment was the randomized clinical research ever conducted to evaluate long-term outcomes in patients being treated for severe heart failure with a left ventricular assist device (also known as an LVAD or heart pump). Thus, such clinical trials provide insight into the technological advancement in the market, which increases the market growth over the forecast period.

However, the high cost of CHF treatment devices may hamper the growth of the market over the forecast period.