The global market for congestive heart failure treatment devices is expected to reach $5.9 billion by the year 2016 at the compounded annual growth rate of 11.7% during the forecasted period. This growth is mainly attributed by the rising incidences of heart failures across the world. American market for congestive heart failure treatment devices accounted for $1.6 billion in 2010 and is expected to reach $3.2 billion by the year 2016 at the CAGR of 12.4% during the forecasted period. European market is forecasted to reach $1.5 billion at the CAGR of 7.5% by 2016.
Congestive heart failure (CHF) is the inability of heart to maintain proper cardiac output to meet the metabolic demands of tissues and body organs. Growth of congestive heart failure treatment devices is mainly driven by the products that treat congestive heart failure for many reasons such as growth in aging population, increasing incidences of congestive heart failures, availability of products to treat CHF, greater understanding of CHF, and changing demographics & lifestyles.
US and European markets posses’ maximum potential for congestive heart failure treatment products due to the increasing incidences of heart failures in these regions. Emerging markets like Asia Pacific and Latin America are set to witness significant growth in this industry due to changing demographics, healthcare reforms, increasing income levels, and increase in treatment of congestive heart failures.
- Ventricular Assist Devices
- Implantable Cardioverter Defibrillators (ICDs)
- Counterpulsation Devices
This research report analyzes this market depending on its market segments and major geographies. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of current market trends, market growth drivers, factors limiting market growth, market structure, and market projections for upcoming years. Report also provides analysis of recent developments in technology, Porter’s five force model, and complete company profiles of top industry players. It includes review of micro and macro factors significant with respect to existing market players and new entrants.
Some of the key players dominating this market are Berlin Heart Inc., Biotronik, Boston Scientific, Jarvik Heart, Medtronic Inc., MicroMed Cardiovascular Inc., St. Jude Medical Inc., Teleflex Inc., Thoratec, World Heart Corporation, AbioMed, and others.
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