Dublin, April 20, 2023 (GLOBE NEWSWIRE) -- The "Heart Failure Devices Global Market - Forecast To 2029" report has been added to ResearchAndMarkets.com's offering.
The heart failure devices global market expected to grow at high single-digit CAGR from 2022 to 2029 to reach $38,879.9 million by 2029.
Factors such as increasing incidence of heart failure diseases, technological advancement in heart failure devices, rising geriatric population, and favorable reimbursement are the drivers, vast pipeline products, increase in funding and approvals are the opportunities.
Adverse events and complications with the implantation of heart failure devices, the high cost of the devices, and the lack of trained professionals are the restraints, whereas, stringent regulatory guidelines and the availability of alternative products are the threats.
The heart failure devices global market is segmented based on products, end-users, surgery and geography. The heart failure devices market based on products is segmented as cardiac rhythm products, cardiac assist devices (CAD), structural heart devices (SHD), ECMO and others (modulation devices). Among them, the structural heart device segment commands the largest revenue in 2022 and it is expected to grow at double digit CAGR from 2022 to 2029.
North America holds the largest revenue in 2022 and it is expected to grow at high single digit CAGR from 2022 to 2029 mainly due to the increasing prevalence of structural heart diseases in the region, persistently elevating geriatric population burdened with various kinds of valvular diseases, increasing preference and adoption of the patient population there for technologically advanced and minimally invasive therapeutic products, availability of advanced imaging and better patient screening programs and increasing investments on research activities for developing innovative and technologically advanced products.
The Asia-Pacific is the fastest-growing region and is expected to grow in double digit CAGR from 2022 to 2029 due to the high structural heart disease burden in the region, increasing geriatric population, increasing demand for better healthcare facilities, increasing penetration of reimbursement schemes in developing countries, increasing demand for highly efficient and minimally invasive products from the value-centric patient population, growing economies of the region, availability of various kinds of heart failure treatment products, increasing patient awareness of these products and increasing medical tourism prospects of the region.
The heart failure devices global market is a consolidated market with the top 8 players. Some of the major players in the heart failure devices market include Medtronic PLC (Ireland), Abbott Laboratories (U.S.), Edwards Lifesciences Corporation (U.S.), Boston Scientific Corporation (U.S.), Abiomed (U.S.), Biotronik (Germany), Getinge (Sweden) and MicroPort (China).
Factors Influencing Market
Drivers and Opportunities
- Increasing Incidence of Heart Failure
- Technological Advancements in Heart Failure Devices
- Rising Geriatric Population
- Vast Pipeline Products
- Increase in Product Approvals
- Increase in Funding
Restraints and Threats
- Adverse Events and Complications with the Implantation of Heart Failure Devices
- High Cost of the Devices
- Lack of Skilled and Trained Professionals
- Stringent Regulatory Guidelines
- Availability of Alternative Products
- Increasing Product Recalls
Regulatory Affairs
- Commercialization Regulatory Affairs
- International Organization for Standardization
- Iso 9001: 2015 Quality Management System
- Iso 14644-1 Cleanroom Standards
- Iso 13485 Medical Devices
- Iso 10993 Biological Evaluation of Medical Devices
- Iso 14971: Risk Management of Medical Devices
- Iso 5840: Heart Valve Validation
- Iso 14708-5: Active Implantable Medical Devices - Part 5: Circulatory Support Devices
- Iec 60601-1 Medical Electrical Equipment Standard
- Iec 60601-1-11 Home Care Safety
- Astm International Standards
Clinical Trials Data
Reimbursement Scenario
- Reimbursement Table
- Structural Heart Device Reimbursement
- Rhythm Management Device Implant Procedures
- Surgical Valve Repair and Replacement Procedures
- Ventricular Assist Device Reimbursement
- Cad Physician Reimbursement
Technological Advancements
- Bionic Pacemaker
- Pulse Vad
- Vadovations Cardiac Assist System
- Total Artificial Heart (Tah)
- Fully Implanted Bioresorbable Cardiac Pacemakers Without Leads and Batteries
- Interatrial Shunt
- Vagus Nerve Stimulation
- Electrical Microcurrent Therapy
- Contraband
Major Companies
- Abbott Laboratories
- Abiomed
- Biotronik Se & Co. Kg
- Boston Scientific Corporation
- Corcym
- Edwards Lifesciences Corporation
- Getinge
- Medtronic, plc
- Microport Scientific Corporation
- Teleflex Incorporated
Companies Mentioned
- Abbott Laboratories (U.S.)
- Abiomed, Inc. (U.S.)
- Affluent Medical SA (France)
- AtriCure, Inc. (U.S.)
- Artivion (Cryolife) (U.S.)
- Balton Sp. z o.o (Poland)
- Berlin Heart GmbH (Germany)
- Biosensor International (NVT AG) (Singapore)
- BioStable Science & Engineering, Inc. (U.S.)
- Biotronik (Germany)
- BiVacor, Inc (U.S.)
- Bioventrix Inc. (U.S.)
- Boston Scientific Corporation (U.S.)
- Braile Biomedica (Brazil)
- Cardia Inc. (U.S.)
- Cardiac Dimensions, Inc. (U.S.)
- CardioBridge GmbH (Germany)
- CardioDyme (Reliant Heart) (U.S.)
- Cardiosolutions, Inc. (U.S.)
- Carmat SA (France)
- Colibri Heart Valve LLC (U.S.)
- Corcym (U.K.)
- Coroneo (Mexico)
- Corvia Medical (U.S.)
- CorWave S.A. (France)
- CVRx (U.S.)
- Edwards Lifesciences Corporation (U.S.)
- Evaheart, Inc. (U.S.)
- FOC Medical S.A. (Argentina)
- Fresenius Medical Care AG & Co. KGaA (Xenios AG) (Germany)
- Genesee BioMedical, Inc. (U.S.)
- Genesis Medtech (JC Medical) (Singapore)
- Getinge AB (Maquet Holding) (Sweden)
- Hanyu medical (China)
- HighLife SAS (France)
- Impulse Dynamics (Germany)
- Jarvik Heart, Inc. (U.S.)
- Jena Valve Technology, Inc, (U.S.)
- Labcor Laboratorios Ltda (Brazil)
- Lepu Medical (China)
- Lifetech Scientific (Shenzhen) Co., Ltd. (China)
- LivaNova PLC (U.K.)
- Medico SPA (Italy)
- Medtronic, PLC (Ireland)
- Meril Life Sciences Pvt. Ltd. (India)
- Micro Interventional Devices, Inc. (U.S.)
- MicroPort Scientific Corporation (China)
- MiTiHeart Corporation (U.S.)
- MitrAssist Ltd (Israel)
- NeoChord, Inc. (U.S.)
- NeoVasc Inc. (Canada)
- Occlutech International AB (Sweden)
- P+F Products + Features GmbH (Germany)
- Peijia Medical Limited (China)
- pfm Medical Ag (Germany)
- Pulse Cath BV (The Netherlands)
- Sahajanand Medical Technologies Ltd. (India)
- Senko Medical Instrument Mfg. CO., LTD (Japan)
- SynCardia Systems, LLC (U.S.)
- Strait Access Technologies (South Africa)
- Teleflex Incorporated (U.S.)
- Thubrikar Aortic Valve, Inc. (U.S.)
- TTK Healthcare Limited (TTK Chitra Group) (India)
- Venus Medtech (China)
- V-Wave Ltd (Israel)
- Vesalius Cardiovascular Inc. (Canada)
- W. L. Gore & Associates, Inc. (U.S.)
- Windmill Cardiovascular systems, Inc. (U.S.)
- Xeltis (The Netherlands)
- Xuzhou Yatai Scientific Co., Ltd (China)
- Zeon Corporation (Japan)
For more information about this report visit https://www.researchandmarkets.com/r/lj4rwc
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