Heart Failure Monitoring Systems Market Estimated to Soar Higher During 2018 to 2028
Heart failure is a fatal condition and addressing it has become an urgent health priority, as the world has almost 26 million people living with heart failure. According to the National Center for Biotechnology, heart failure is accelerating in prevalence, leading to considerable health expenditures. Despite the significant advances in treatment, therapies and prevention, morbidity and mortality are still skyrocketing.
The growing awareness about the heart related issues is driving the demand for systems, such as heart failure monitoring systems that can help medical professionals detect cardiac filling pressure, days or weeks before the symptoms become evident. Heart failure monitoring systems allow healthcare providers to intervene timely to prevent heart failure hospitalization.
Although there have been significant advances in heart failure monitoring systems, such as device-based therapy, the heart failure-related mortality remains high. Manufacturers of medical equipment and devices such as heart failure monitoring systems, continue to alter their manufacturing techniques by widely investing in heart failure monitoring systems’ R&D to curb the growing menace of heart-related conditions.
Many leading manufacturers of heart failure monitoring systems are working on technologically-advanced heart failure monitoring systems to control the widely increasing heart failure cases. Medical professionals are eyeing at the novel, one of its kind and FDA-approved wireless heart failure monitoring system-CardioMEMS heart failure monitoring system- as a potential cure for heart failure. CardioMEMS heart failure monitoring system, which is manufactured Abbott, has been proven to notably decrease heart failure.
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Heart Failure Monitoring Systems: Market Insights
Heart Failure is one of the common cause of morbidity and mortality and largely affect the economy of country. Despite many advances in heart failure monitoring and devices based therapy heart failure related mortality rate remains high. According to NCBI, the prevalence of heart failure in US is 5.8 million and over 23 million worldwide. Incidence of increasing and reaching 650,000 people per year. Heart failure monitoring systems detect cardiac filling pressure before days or week the symptoms which allow healthcare provider to intervene to prevent heart failure hospitalization. Heart failure monitoring gives physician daily information on heart function which prevent heart failure decompensation and hospitalization. Miniature wireless monitoring sensor is implanted in the pulmonary artery during the minimally invasive procedure which directly measure pulmonary pressure. Heart failure monitoring system allows patients to transmit the information from home to the healthcare providers which allow clinicians to change medication and pro-actively implement other treatment options to avoid hospitalization and improve the patient’s condition.
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Heart Failure Monitoring Systems: Market Dynamics
Market of heart failure monitoring systems is majorly driven owing to increasing demand of healthcare services in forecast period due to rise in number of patients owing to ageing populations, increasing unhealthy lifestyle and launch of new advanced product launch for heart failure monitoring. Rise in obesity in younger population is the major cause of heart failure and reimbursement policies & government initiative propel the growth of heart failure monitoring systems market. Continuous research and development to address unmet needs in caring the heart failure patients and introduction to new therapy for heart failure drive the market of heart failure monitoring systems market globally. However, despite the global burden of heart failure monitoring systems lack of awareness and high cost of devices hinder the growth of heart failure monitoring systems.
Heart Failure Monitoring Systems: Segmentation
The global heart failure monitoring systems market is segmented by end user :
Segmentation by End User
- Specialty Clinics
Heart Failure Monitoring Systems: Overview
Increasing research and development in cardiovascular disease and necessary precautions to avoid heart failure by launching new products by various key players drive the market of heart failure monitoring systems. Investment by the government and reimbursement policies by various public and private sector spur the demand of heart failure monitoring systems in near future. Launch of global heart failure awareness programs to ensure sharing of knowledge across the globe regarding the heart failure monitoring systems drive the market of heart failure monitoring system market. Increasing in geriatric population in countries such as japan and improved healthcare facilities, increase the demand of heart failure monitoring systems. Improving healthcare infrastructure in under developed and developing countries such as India, Brazil and increasing awareness among population majorly drive the heart failure monitoring system market.
Heart Failure Monitoring Systems: Region-wise Outlook
On the basis of geography, global heart failure monitoring systems market is segmented into seven key regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa. North America is projected to hold largest shares in the global heart failure monitoring systems market primarily due to presence of large number of population base suffering from cardiovascular disease coupled with ageing population. Technological advancement in healthcare and investment in research and development and well established reimbursement policies in North America drive the market of heart failure monitoring systems. Europe is anticipated to be the second in the revenues share. Asia Pacific region is anticipated to be the fastest growing region in heart failure monitoring systems market owing improving healthcare infrastructure and large undiagnosed patient population and high risk of heart failure due to unhealthy lifestyle and rapid urbanization. Latin America and Middle East & Africa is expected to show slow growth due to lack of awareness among the population and high cost of treatment of heart failure monitoring systems market.
Heart Failure Monitoring Systems: Key Players
Some of the key players present in global heart failure monitoring systems market are Abbott.