Congestive Heart Failure (CHF) diseases affect more than 12 million patients and cause more than 7 million deaths each year. Although ventricular assist devices provide cardiac mechanical support that can keep end-stage CHF patients alive while they wait for heart transplantation, only 12,000 such devices have been implanted worldwide.
According to the American Heart Association, in 2013 nearly 6.6 million Americans suffered from heart failure and it is estimated that 600,000 new cases are diagnosed each year. In 2014 approximately 2,431 heart transplants were conducted and, as of February 2015, the number of people awaiting heart transplantation was 3,986.
The Burden on Healthcare Systems
The most recent national spending projections from the Centers for Medicare and Medicaid Services forecast that healthcare spending in the US will grow at an average annual rate of 5.7% from 2011 through 2021. The American Heart Association estimates that the annual medical cost of heart failure patients in the US is about $26 billion and recent projections show cardiovascular care cost tripling from $272.5 billion in 2010 to an estimated $818.1 billion in 2030. Economic pressure is driving the healthcare industry to adopt new paradigms of care that meet the needs of more people at lower costs. The CorAct assist device is a therapeutic device that cost effectively meets an unmet clinical need.