global congestive heart failure market size was valued at USD 11.54 billion in 2021 and is expected to reach USD 18.48 Billion by 2030, growing at a CAGR of 5.4% during the forecast period.
Polaris Market Research recently published [115+ Pages] research report on “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” in its research database.
According to the [115+ Pages] research report, the global congestive heart failure market size was valued at USD 11.54 billion in 2021 and is expected to reach USD 18.48 Billion by 2030, growing at a CAGR of 5.4% during the forecast period.
What is Congestive Heart Failure? How Big is the Size & Share of Congestive Heart Failure Market?
Congestive heart failure takes place when the heart muscle does not pump blood as well as it should. When this happens, blood usually retreats, causing fluid to build up in the lungs giving rise to breathing shortness. The rapidly rising demand for the congestive heart failure market can be attributed to people becoming more aware of regular exercise, being active, walking every day, and stopping the use of tobacco products.
The market is witnessing growth due to a strong product pipeline, an escalating geriatric population, and growing R&D for drug development. Another prominent factor easing the growth is the rising burden of diseases such as hypertension, diabetes, obesity, chronic pulmonary disease, and renal disease as they are contemplated CHF-linked notable co-morbidities.
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Some of the Top Market Players Are:
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Growth Driving Factors
Presently pharmacological alternatives for the disease are taking calculated steps for a better treatment viewpoint through product approvals and contemporary product instigations. For instance, in February 2022, the FDA sanctioned Boehringer Ingelheim’s Jardiance to lessen cardiovascular death and hospitalization in adults. Therefore, new approvals and launches are the reason for expanding the congestive heart failure market size.
Additionally, the boom in R&D activities and the appearance of many drugs under the clinical pipeline generate lucrative opportunities and vicious competition among companies. For instance, in February 2022, the FDA obtained NDA for Cytokinetics’ drug Omecamtiv Mecarbil, a judicious cardiac myosin activator productive in enhancing contractility linked with heart failure. CHF clinical trial drugs include Furoscix infusor, CardiAMP cell therapy, Revascor (Rexlemestrocel-L), semaglutide, tirzepatide, cimlanod, and others. Therefore, approval and successive launch of such drugs are accountable for the surge in the soaring congestive heart failure market sales.
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Recent Developments
Boston Scientific obtained the urbane transseptal access solutions company Baylis Medical Company in February 2022. Boston Scientific appealed to expand its position in the cardiology market by obtaining the Baylis platform into its portfolio of offerings.
Segmental Analysis
Based on the product, the pacemakers segment had the highest revenue share in the congestive heart failure treatment technologies market. The segment is growing due to a growth in pacemaker use and pharmaceutical and medical device R&D. The congestive heart failure market demand is on the rise as the pacemakers are well-liked by both the surgeons and the patients because it effortlessly sustains the cardiac rhythm. For instance, Medtronic introduced the most compact pacemaker in the world to cure heart block in June 2021.
Based on end use, the hospital segment is anticipated to hold a significant revenue share. The increasing number of patients and sizeable focus on skilled professionals in hospital settings have caused the growth of this segment. The congestive heart failure market trends include expanding hospital population and encouraging sector expansion during the projection period.
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Congestive Heart Failure Market: Report Scope
Report Attribute | Details |
Market Outlook for 2030 | USD 18.48 Billion |
Market Size 2022 Value | USD 12.09 Billion |
Expected CAGR Growth | 5.4% from 2022 – 2030 |
Base Year | 2021 |
Forecast Year | 2022 – 2030 |
Top Market Players | ABIOMED, LivaNova, Jarvik Heart Inc., Berlin Heart, Abbot Laboratories, Aspect Imaging Ltd, CANON MEDICAL SYSTEMS CORPORATION, Siemens, General Electric, Hitachi, Koninklijke Philips N.V., Neusoft Corporation, ESAOTE SPA, Medtronic, OMRON Corporation, Dexcom, Masimo, Jarvik Heart, Biotronik, Teleflex, St. Jude Medical, Lepu Medical, Jarvik Heart, Osypka Medical GmbH, Medtronic, and Boston Scientific Corporation. |
Segments Covered | By Product, By End-Users, By Region |
Customization Options | Customized purchase options are available to meet your research needs. Explore customized purchase options |
Geographic Overview
North America held the largest congestive heart failure market share as there is an establishment of leading manufacturers in the US and the growing pervasiveness of cardiac disorders in both the US and Canada. Additionally, it is estimated that a robust clinical pipeline, complimentary remuneration rules for therapeutic items, and pronounced acceptance of these devices would all contribute to an increase in revenue.
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Dec 05, 2022