A report, titled, “Chronic Heart Failure Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025,” by Transparency Market Research prognosticates a promising future for this market due to a surge in the occurrence of cardiovascular disorders.
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The global chronic heart failure market is segmented on the basis of treatment type and region. Under treatment type, the market consists of vaccines, surgery, medicines, and medical devices as the primary segments. Of these, a brisk rise in near-fatal conditions that may require carrying out immediate operational procedures has made the surgeries segment gain maximum demand as compared to the others.
On the basis of region, the global chronic heart failure market is segmented into North America, Europe, Asia Pacific, and the Middle East and Africa. Of these, a strong healthcare infrastructure and an overall high prevalence of cardiovascular problems has made these regions hold topmost positions in terms of revenue generation. Obesity, lack of exercise, high fat diet, aging population, smoking, and other factors are largely responsible a high occurrence of heart-related disorders in these regions. However, such unhealthy factors might occur in other regions such as Asia Pacific and Latin America. Hence, expert analyst project these regions to also occupy prominent positions when it comes to leading regional segments in terms of market growth.
With a rise in the consumption of junk food, unhealthy eating habits is one of the most prominent factors contributing towards growth in the global chronic heart failure market. This is mainly due to detrimental fatty foods directly affecting the cardiovascular system in terms of cholesterol deposition, which can lead to heart failure. Long working hours and sedentary lifestyles with lack of consistent exercise is another factor bringing about an increase in the chances of heart failure to occur. Most cases of chronic heart failure develop over a considerable time period, thus making it difficult to detect them. However, such layer stages mainly showcase highly-pronounced effects wherein the only options that exist deal with carrying out surgeries or implants. Thus, the inability to detect cardiovascular problems at an early stage may lead towards an expansion in the global chronic heart failure market. Rising cases of diabetes, high blood pressure, coronary artery diseases, faulty heart valves, and heart inflammation are some of the other causes bolstering the market.
However, a long waiting-list scenario is present in most regions when it comes to extensive cardiovascular disorder treatments and cardiovascular implants and surgeries. This might discourage the affected patients and their kin to choose medical treatments, thus posing as a hindrance to the market. High costs of pre- and post-surgical medications is another factor that can dampen the global cardiovascular heart failure market, in terms of treatment processes. Nevertheless, many players are working on developing devices and treatment methodologies that can be affordable as well as highly-efficient, thus offsetting some of these restraints.
In the global chronic heart failure market, the competitive landscape is substantially fragmented as total shares are highly dispersed among all major players. Most businesses are imparting a lot of focus on improving the quality of drugs used for cardiovascular disease treatments. Improving operational base, reducing side effects, and regulating prices of drugs and treatment procedures are top areas where major players in this market are imparting their maximum focus. In the forthcoming years, market dynamics as well as competition are both expected to get tougher with rising number of new entrants. Chief players in the global chronic heart failure market are HeartWare International, Inc., Novartis International AG, Merck Sharp & Dohme, Bristol-Myers Squibb Company, Pfizer, 7 Eleven, AstraZeneca, St. Jude Medical Inc., GlaxoSmithKline plc, Stanley Pharmaceuticals, Biovail Corporation, Cardiokinetix, New Haven Pharmaceuticals, Inc., ReliantHeart, Inc., Boston Scientific Corporation, Abiomed, Inc., and Berlin Heart GmbH, among others.