North America 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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Get in-depth analysis of the COVID-19 impact on the North America Congestive Heart Failure (CHF) Treatment Devices Market
Market Report Description
The North America Congestive Heart Failure (CHF) Treatment Devices Market would witness market growth of 4.9% CAGR during the forecast period (2022-2028).
Congestive heart failure, or CHF, is a chronic progressive condition that impacts the pumping ability of the heart muscle. Congestive heart failure treatment devices are instruments that are used to treat patients with CHF. Mechanical circulatory support devices are used to treat congestive heart failure. Pacemakers, implantable cardioverter defibrillators, cardiac resynchronization therapy devices, and ventricular assist devices are examples of congestive heart failure therapeutic equipment. Implantable cardiac defibrillators are electronic devices that are implanted into the body. An ICD (implantable cardiac defibrillator) continuously monitors heart rhythm and, if it becomes abnormal, delivers a mild shock to the heart muscle.
A ventricular assist device aids in pumping the blood from the heart's lower chambers to the rest of the body. There are also several types of ventricular assist devices, including left congestive heart failure treatment devices (LVADs), right congestive heart failure treatment devices (RVADs), and others. Because weak left ventricular muscles are widespread among patients with congestive heart failure, left congestive heart failure therapy devices are the most widely utilized VADs. They have been employed as a long-term therapy for people with only a slim likelihood of improving their cardiac muscles. Right congestive heart failure therapy devices (RVADs) pump blood from the right ventricle to the pulmonary aorta. When compared to instances requiring an LVAD, such occurrences are quite uncommon.
Some of the factors driving market expansion in the North American region include increased demand for congestive heart failure (CHF) treatments, high health expenditures, rising prevalence of target illnesses, and increased population awareness regarding treatment device availability. According to the Centers for Disease Control and Prevention, COVID-19 patients with an underlying cardiac issue are still more likely to become severely ill. Moreover, supportive sickness awareness campaigns are anticipated to help the cardiovascular devices market in North America. In addition, according to the National Library of Medicine, CV disorders are a severe health burden for Canadians. About one-third of Canadians die from heart attacks and strokes, and CV diseases account for nearly 16% of hospitalizations.
This illness load has a significant economic impact, with CV disorders accounting for more than $22 billion indirect and direct expenditures in 2000. Despite these figures, the mortality rates for heart attacks and strokes have dropped dramatically in recent decades, and the number of Canadians dying from CV disorders has lately decreased. Some of the risk factors for cardiovascular disease are becoming more common at an alarming rate. Obesity is on the rise, especially among the young, and this is expected to lead to more diabetes, hypertension, and lipid abnormalities, which would result in more heart attacks and strokes.
The US market dominated the North America 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 $4,234.7 Million by 2028. The Canada market is experiencing a CAGR of 7.3% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 6.3% 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 U.S., Mexico, Canada, and Rest of North America.
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 North America
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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