Home Press Releases Congestive Heart Failure Market Size Worth $18.48 Billion By 2030 | CAGR: 5.4%

Congestive Heart Failure Market Size Worth $18.48 Billion By 2030 | CAGR: 5.4%

The global congestive heart failure market size is expected to reach USD 18.48 billion by 2030, according to a new study by Polaris Market Research. The report “Congestive Heart Failure Market Share, Size, Trends, Industry Analysis Report, By Product (Cardiac Resynchronization Therapy, Counter Pulsation Devices, ICD, Pacemakers, Ventricular Assist Devices, Others); By End-Use; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Congestive heart failure is becoming more prevalent, in part due to the rise in coronary artery disease and heart attacks worldwide. According to the World Health Organization’s 2021 report, cardiovascular diseases (CVDs), which accounted for 17.9 million deaths worldwide in 2019 (32% of all fatalities), were the cause of 32% of all deaths. Furthermore, the American Heart Association predicts that by 2030, even more Americans than the present 22.2 million will have heart disease.

 

Due to the rising prevalence of CVDs and the increased need for treatment devices, the market will soon grow. Market leaders take part in new launches, partnerships, expansions, and acquisitions to stay competitive. For instance, Abbott’s EnSite X EP System, which uses EnSite omnipolar technology to treat cardiac arrhythmias, received FDA approval in the U.S., in January 2022.

 

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COVID-19 pandemic reportedly had a negative impact on people with underlying cardiovascular disease, particularly those who had previously experienced an acute cardiac injury. A research by Tarun Dalia et al., published in February 2021, found that congestive heart failure (CHF), which is present in individuals with COVID-19, is related to worse outcomes and higher mortality. Additionally, cardiac arrhythmia and abrupt cardiac injury are more likely to occur in people who have severe COVID-19 and non-survivor circumstances.

 

An increase in cardiovascular patients, an ageing population, insurance coverage, and technological developments like proprietary algorithms that accurately detect and reduce the incidence of atrial fibrillation are some of the main factors influencing the growth of implantable pacemakers. According to the United Nations Department of Economic and Social Affairs’ research on world population ageing.

 

In 2020, there were 727 million people over the age of 65 in the world. Over the next three decades, the number of older people worldwide is predicted to more than quadruple, reaching over 1.5 billion in 2050. This is because an ageing population is more prone to chronic diseases, such as cardiovascular diseases, which are likely to increase during the projection period.

 

Congestive Heart Failure Market Report Highlights

  • In 2021, the market for congestive heart failure is expected to be dominated by pacemaker devices. Congestive heart failure therapeutic devices for the treatment of heart failure are in higher demand, pacemaker use is increasing, and pharmaceutical and medical device R&D are all contributing to the expansion of this market.
  • In 2021, hospital systems made up the majority of this market. This hospital segment has expanded as a result of the rising patient population and the significant concentration of trained workers in hospital settings. Additionally, hospitals support the reduction of adverse patient reactions during crucial medical procedures.
  • The majority of the market was controlled by North America. Rising cases of target illnesses, better public knowledge of the heart related ailments are few regional drivers.
  • The global players with global presence include ABIOMED, LivaNova, Jarvik Heart Inc., Berlin Heart, Abbot Laboratories, Aspect Imaging Ltd, CANON MEDICAL SYSTEMS CORPORATION, and Siemens.

 

Polaris Market Research has segmented the congestive heart failure market report based on product, end-use, and region:

 

Congestive Heart Failure, Product Outlook (Revenue – USD Billion, 2018 – 2030)

  • Ventricular Assist Devices
  • Implantable Cardioverter Defibrillators (ICD)
  • Pacemakers
  • Cardiac Resynchronization Therapy
  • Counter Pulsation Devices

Congestive Heart Failure, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)

  • Hospitals and clinic
  • Specialized Cardiovascular Disease Treatment centers
  • Ambulatory surgery centers

Congestive Heart Failure, Regional Outlook (Revenue – USD Billion, 2018 – 2030)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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