A cardiac device is employed to keep the heart in a regular rhythm. There are a variety of devices to choose from. An ICD (implantable cardiac defibrillator) is an electrical device that is implanted into the heart.
New York, July 07, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Congestive Heart Failure Treatment Devices Market Size, Share & Industry Trends Analysis Report By Product Type, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06289221/?utm_source=GNW
An ICD constantly monitors the cardiac rhythm and, if it becomes abnormal, provides a mild shock to the heart muscle (arrhythmia). If a shock is required, it can be extremely unpleasant, but it will pass rapidly. Instead of a shock, some ICDs employ a pacing system. To restore normal heart rhythm, this type of ICD gives a rapid impulse to the heart muscle. A pacemaker can help the patient to avoid sudden cardiac arrest (SCA).
According to the Cleveland Clinic, electrical issues in the ventricles cause delays when they pump/contract in about 30% of people with heart failure. There is less oxygen-rich blood transported to the organs and muscles when the ventricles do not pump simultaneously. Pumping delays aggravate heart failure and raise the likelihood of death from the condition. A pacemaker is implanted in the patient’s body as part of CRT treatment. The pacemaker is connected to three wires (leads) that send tiny electrical impulses to the heart muscle to maintain the ventricles pumping together. A CRT-D is a system that includes the capabilities of a CRT and an ICD. It prevents the ventricles from colliding. The CRT-D provides a shock to restore normal rhythm if they become out of sync due to ventricular tachycardia or fibrillation. CRT, with or without an ICD, improves the symptoms of about 75% of patients who do not find relief from their symptoms with medication. Cardiac resynchronization therapy improves the quality of life, survival, heart function, and exercise capacity, as well as lowers hospitalization risk.
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Market Growth Factors
Increase in the prevalence of cardiac diseases all over the world
The failure of the ventricles in order to pump enough blood to the body’s organs is the initial stage of congestive heart failure. Fluid builds up in the lungs, liver, belly, and lower body as a result of this. The technologies used to treat CHF include pacemakers, cardiac resynchronization therapy (CRT), implantable cardioverter defibrillators (ICDs), as well as ventricular assist devices. The market for congestive heart failure treatment devices is being driven by an increase in the number of cardiovascular ailments, technical advancements, and the number of cardiovascular procedures.
Rising number of initiatives by government and market players
One of the major factors that are propelling the growth of the congestive heart failure devices market is the increasing number of efforts and initiatives that are being taken by the government and market players all over the world. Governments in several countries have introduced a number of healthcare schemes, which, a patient can leverage for the treatment of several diseases and disorders. In addition, congestive heart failure is a very lethal and prevalent disorder, becoming the reason for the death of a considerable number of people all over the world each year. The inclusion of CHF in these policies is allowing people to take advantage of CHF treatment devices.
Market Restraining Factors
High cost of these devices
One of the major factors that are impeding the deployment of congestive heart failure treatment devices is the high cost of these devices that are occurred in installing and operating these devices. There is a significant number of people that suffers from cardiac disorders and diseases all over the world. Congestive heart failure treatment devices are the most effective and quick treatment for these disorders. However, people all over the world are not able to leverage the full benefits of these devices due to their high cost. The implementation cost of these devices is significantly high due to the composition of various complex and advanced technologies.
Product Type Outlook
Based on Product Type, the market is segmented into Pacemakers, Implantable Cardioverter Defibrillators, Cardiac Resynchronization Therapy, and Ventricular Assist Devices. In 2021, the pacemakers segment acquired the largest revenue share of the congestive heart failure treatment devices market. The growth of this segment is rising due to an increase in pharmaceutical and medical device R&D, increased demand for congestive heart failure therapy devices for the treatment of heart failure, and an increase in pacemaker adoption. Moreover, it is a being more preferred by patients as well as surgeons due to its feature of maintaining the heart rhythm in a painless manner.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2021, North America procured the largest revenue share of the congestive heart failure treatment devices market. The constantly rising growth of the regional market is owing to the rise in the number of cardiac surgeries, the presence of key players, the development of the healthcare sector, and the presence of novel innovative ventricular assist and devices products in the region.
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; Abbott Laboratories is the forerunners in the Congestive Heart Failure (CHF) Treatment Devices Market. Companies such as Medtronic PLC, AND Abiomed, Inc. are some of the key innovators in the Market.
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.
Recent Strategies Deployed in Congestive Heart Failure (CHF) Treatment Devices Market
Partnerships, Collaborations and Agreements
Sep-2021: Medtronic teamed up with Mpirik, an A.I. healthcare technology company. Following this collaboration, the companies aimed to launch a pilot program to address disparities in treatment linked with sudden cardiac arrest prevention. Moreover, this program would provide a scalable and innovative approach to utilizing real-world clinical data along with more sophisticated methods than conventional manual chart reviews.
Jun-2020: Berlin Heart signed an agreement with Scandinavian Real Heart, a developer of a total artificial heart. Following this agreement, the companies aimed to manufacture technology for polyurethane blood-contacting elements the RealHeart Total Artificial Heart.
May-2020: Biotronik partnered with Acutus Medical, an arrhythmia management company. Following this partnership, the companies would offer a comprehensive mapping, ablation, electrophysiology, and accessory products portfolio for the catheter-based treatment of cardiac arrhythmias in the Asian and European markets.
Acquisitions and Mergers:
Feb-2022: Boston Scientific took over Baylis Medical Company, an advanced transseptal access solutions provider. This acquisition aimed to enable Boston Scientific to incorporate the Baylis platforms into its electrophysiology and structural heart portfolio in order to strengthen its foothold in the highest growth cardiology markets.
Sep-2021: Boston Scientific acquired Devoro Medical, the developer of the WOLF Thrombectomy platform. Following this acquisition, the company aimed to integrate the innovative lytic-free and non-console WOLF technology into its portfolio. In addition, WOLF technology rapidly targets and captures blood clots leveraging finger-like prongs, which retrieve and remove thrombi in the venous and arterial systems.
Sep-2021: Abbott took over Walk Vascular, a commercial-stage medical device company. With this acquisition, the company aimed to expand its peripheral vascular portfolio with the possession of Walk Vascular’s less-invasive mechanical aspiration thrombectomy system for the treatment of peripheral blood clots.
Jun-2021: Abiomed completed its acquisition of preCARDIA, a vendor of a proprietary catheter and controller. This acquisition aimed to complement Abiomed’s product offerings in order to increase the options for acute decompensated heart failure patients.
Jun-2021: Boston Scientific acquired Farapulse, a medical equipment manufacturer. This acquisition aimed to complement Boston Scientific’s existing electrophysiology portfolio in order to include Farapulse’s FARAPULSE Pulsed Field Ablation System.
Jan-2021: Boston Scientific took over Preventice Solutions, mobile cardiac health solutions, and services provider. This acquisition aimed to strengthen Boston Scientific’s foothold across the high-growth ambulatory electrocardiography space.
Product Launches and Product Expansions:
Jun-2021: MicroPort introduced BoreaTM and AlizeaTM pacemakers. The new CE Mark-certified devices are comprised of Bluetooth1 technology for simpler remote monitoring through the SmartView ConnectTM home monitor.
Oct-2020: Abbott rolled out Implantable Cardioverter Defibrillator and Cardiac Resynchronisation Therapy Defibrillator. Through the launch of these next-generation heart rhythm management devices, the company aimed to optimize the treatment of abnormal heart rhythms and heart failure in Indian patients.
Jun-2020: Boston Scientific launched DIRECTSENSE Technology, a solution for monitoring the effect of radiofrequency energy delivery, in the US. The new solution would offer data on the impedance around the catheter tip to scale the capacity of the tissue to react to RF energy before physicians deliver the therapy.
Approvals and Trials:
Feb-2022: Abbott received the US FDA approval for an expanded indication for its CardioMEMS HF System. Through this approval, the company aimed to enable the diagnosis of an increased number of heart failure patients. In addition, this expanded indication would grant the eligibility of leveraging advanced monitoring to an additional 1.2 million US patients.
Jan-202: Boston Scientific received the CE Mark approval for its COGNIS cardiac resynchronization therapy defibrillator and TELIGEN implantable cardioverter-defibrillator. Through this approval, the company aimed to allow physicians to offer improved clinical options to their patients with two new platforms for the treatment of sudden cardiac death and heart failure.
Dec-2021: MicroPort recieved CE Mark approval for its NAVIGO 4LV ARC and NAVIGO 4LV 2D under MDR – 2017/745 regulation. The new product range aimed to pace the left ventricle when linked with an implantable cardiac resynchronization device in heart failure patients.
Jun-2021: Abiomed received the US FDA approval for its Impella RP, the company’s latest heart pump with SmartAssist. This approval aimed to enable the treatment of patients with a body surface area more than or equivalent to 1.5m² with acute right heart failure or decompensation after the implantation of a left ventricular assist device, heart transplant, open-heart surgery, or myocardial infarction.
Jul-2020: Abbott received the US FDA approval for its Gallant, a range of next-generation implantable cardioverter-defibrillator and cardiac resynchronization therapy defibrillator devices. Following this approval, the company aimed to offer new advantages for the treatment of heart rhythm disorders to patients. Moreover, the new products comprise a patient-preferred design along with optimized MRI compatibility and battery longevity.
Scope of the Study
Market Segments covered in the Report:
By Product Type
• Implantable Cardioverter Defibrillators
• Cardiac Resynchronization Therapy
• Ventricular Assist Devices
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• 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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