Europe Congestive Heart Failure (CHF) Treatment Devices Market Size, Share & Industry Trends Analysis Report By Product Type (Pacemakers, Implantable Cardioverter Defibrillators, Cardiac Resynchronization Therapy, and Ventricular Assist Devices), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Europe Congestive Heart Failure (CHF) Treatment Devices Market would witness market growth of 5.2% CAGR during the forecast period (2022-2028).
CVDs are a set of illnesses characterized by structural or functional abnormalities in the heart and blood arteries that impact the heart's function. CVDs are one of the leading causes of death worldwide. Favorable reimbursement systems, like the Medicare system in the United States, are a major driver of this vertical's growth. Medical device businesses are now offering new product platforms that are covered by patient-beneficial reimbursement programs. Devices used to treat CHF, such as ICDs, VADs, and pacemakers, are eligible for reimbursement.
The major target population for CHF therapy devices is people over the age of 60. This demographic is characterized by low immunity and a proclivity for chronic diseases, such as cardiovascular disease (CVD), and so serves as a high-impact key driver for the expansion of these products in the coming years. As a result, the most recent cardiac care treatments are projected to extend the life span of the older population. The graph below shows how the number of senior patients, who make up the typical target group for surgical volume increases, would change during the forecasting years.
There is a significant number of fatalities that are being caused by cardiovascular diseases in this region. As evidence of the spread of heart disease across socioeconomic and geographical borders emerges, European policymakers are being compelled to make enhancements in cardiovascular health a top priority. According to the National Library of Medicine, cardiovascular diseases already cause 4 million fatalities in Europe each year. Mortality from the disease is increasing across Eastern and Central Europe, where it is nearly double that of the European Union's worst-affected countries. The British Heart Foundation in integration with the European Society of Cardiology launched the Winning Hearts campaign in order to boost heart disease's political visibility. Their goal is to ensure that every person born in the year 2000 has the right to live to be at least 65 years old without suffering from preventable cardiovascular disease.
The Germany market dominated the Europe Congestive Heart Failure (CHF) Treatment Devices Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,106.8 Million by 2028. The UK market is anticipated to grow at a CAGR of 4.3% during (2022 - 2028). Additionally, The France market would showcase a CAGR of 6% during (2022 - 2028).
Based on Product Type, the market is segmented into Pacemakers, Implantable Cardioverter Defibrillators, Cardiac Resynchronization Therapy, and Ventricular Assist Devices. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Boston Scientific Corporation, MicroPort Scientific Corporation, Abbott Laboratories, Medtronic PLC, Abiomed, Inc., Berlin Heart GmbH, Jarvik Heart, Inc., Lepu Medical Technology (Beijing) Co., Ltd., BIOTRONIK SE & Co. KG, and Osypka Medical GmbH.
Scope of the Study
Market Segments Covered in the Report:
By Product Type
- Implantable Cardioverter Defibrillators
- Cardiac Resynchronization Therapy
- Ventricular Assist Devices
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Boston Scientific Corporation
- MicroPort Scientific Corporation
- Abbott Laboratories
- Medtronic PLC
- Abiomed, Inc.
- Berlin Heart GmbH
- Jarvik Heart, Inc.
- Lepu Medical Technology (Beijing) Co., Ltd.
- BIOTRONIK SE & Co. KG
- Osypka Medical GmbH
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