Congestive Heart Failure Treatment Devices Market To Reach $32.0 Billion By 2024 : Grand View Research, Inc.
The congestive heart failure (CHF) treatment devices market is
expected to reach USD 32.0 billion by 2024, according to a new report by Grand
View Research, Inc. The rising burden of CVDs is one of the prime factors
responsible for lucrative growth of this vertical. Sedentary lifestyles, mental
stress, and junk food consumption tendencies are the key factors responsible
for development of CVDs.
Favorable reimbursement policies, such as the U.S. Medicare
system, are observed to be a prime growth factor for this industry. Companies
now provide new product platforms, which have reimbursement coverage that
benefit the patient. The reimbursement can be availed for devices, such as
Ventricular Assist Devices (VADs), Implantable Cardiovascular Defibrillators
(ICDs), and pacemakers, which are used to treat CHF.
The industry participants are more focused on developing
high-utility products, which can deliver personalized care. These advancements
are improving the accuracy and provide additional capabilities to enhance the
workflow and reduce the incidence of errors.
Browse full research report on Global Congestive Heart Failure (CHF) Treatment Devices Market: http://www.grandviewresearch.com/industry-analysis/bioactive-ingredients-market
Further key findings from the study suggest:
- The
market by product is segmented into VADs, Counter Pulsation Devices, ICDs,
pacemakers, and cardiac resynchronization devices. 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.
- The
VAD based on the site of implantation are categorized into Left
Ventricular Assist Devices (LVAD) and Right Ventricular Assist Devices
(RVAD). When the LVAD and RVAD are implanted together they are termed
Biventricular Assist Devices (BIVAD).
- North
America dominated the overall market 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 CVDs coupled with a significant geriatric
population base.
- Asia-Pacific
is anticipated to grow at a lucrative CAGR during the forecast period due
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.
- Some
of the players in this industry are Berlin Heart Inc., Medtronic, Boston
Scientific, World Heart Corporation, Biotronik, Jarvik Heart, MicroMed
Cardiovascular Inc., Teleflex Inc., and St. Jude Medical.
- The
market participants are actively involved in the improvement of the
current product portfolio, in order to sustain their market position.
Additionally, drug development and their market entry in the untapped
nations are expected to propel market growth.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/nutraceuticals-functional-foods-and-dietary-supplements
Grand View Research has segmented the global CHF treatment
devices market on the basis of product.
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
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-bioactive-ingredients-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information:
www.grandviewresearch.com
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