Heart Failure Market: By Device Type (Implantable Left Ventricular Assist Device (LVAD), Biventricular Pacemaker, Implantable Cardioverter- defrillators (ICDs), Continuous Positive Air Pressure Device (CPAP), Bi-level Air Positive Pressure Device (BiPAP)) By Application (Hospitals, Clinics, Household) and Geography  

Heart Failure Market size was valued at USD 12,371.9 million in 2023 and is expected to grow at a CAGR of 8.3% from 2024 to 2030. Heart Failure is a lifelong condition in which the heart muscles can’t pump enough blood to meet the body’s need for blood and oxygen. An aggregate patient pool of CVDs and a rise in congestive heart failure (CHF) cases are key factors boosting the growth of the Heart failure treatment devices market. The rise in cardiovascular diseases leads to a growing risk associated with heart failure, which means driving the stipulation for devices utilized in the treatment of congestive heart failure. Deskbound lifestyles, unhealthy food consumption, and mental stress are other key factors associated with the expansion of CVDs. The growing geriatric inhabitants is also leading to a surge in the cases of CVDs, worldwide. For instance, as per the report stated in November 2021, publicized by the Asian Pacific Observatory on Health Systems and Policies, by 2050, around one-fourth of people of the Asia-Pacific region will be 60 years or older owing to the reducing fertility rate in the region and rising endurance which is further anticipated to surge the burden of the cardiovascular diseases and accordingly, driving the demand for the in effect and advanced treatment procedures consequently boosting market growth. This cohort is prone to chronic diseases, comprising CHF.

It is categorized by less immunity, by this means aiding as a high-impact execution driver for the growth of these devices over the forecast period. As a result, the latest treatments available in cardiac care are projected to surge the lifespan of the elderly population. Moreover, collaboration between hospitals, clinics and market players is anticipated to drive the market in the forecast period. However, the challenges associated with this Heart failure devices market are the high cost associated with congestive heart failure treatment devices, blood clots, dizziness, and swelling remain a substantial barriers that hamper the growth of heart failure treatment devices. However, the key factors associated with the heart failure treatment devices are rising demand for pacemakers, ICDs, and enhanced affordability and patient access to these critical treatments, geographical expansion by the market players, and government incentives for R&D activities create opportunities for the players in the Heart Failure market.

Recent Key Developments:

• In January 2022, Medtronic plc obtained consent from Japan's Ministry of Health, Labor, and Welfare for the rummage sale and reimbursement of the Micro AV Trans catheter Pacing System (TPS).