In 2021, the industry for pediatric interventional cardiology was projected to reach us$ 2,019.1 million. By 2028, it is projected to be worth US$ 3,166.7 million, growing at a 6.6% CAGR. Because of the increasing prevalence of congenital heart disease in young patients and the technology advancements in pediatric interventional cardiology, the worldwide economy for pediatric interventional cardiology is rapidly expanding. Additionally, it is predicted that a greater emphasis on pediatric interventional cardiology and the creation of innovative devices will accelerate expansion. However, problems like the procedure’s high cost and reimbursement and regulatory difficulties are anticipated to restrain market expansion.
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Global Pediatric Interventional Cardiology Market: Regional Insights
On the basis of geography, the worldwide pediatric interventional cardiology market is divided into, Europe, Latin America, North America, Asia Pacific, Africa & Middle East
Because of the increasing prevalence of congenital heart diseases and more focus being paid to the creation of new pulmonary and aortic heart valves in the area, North America is anticipated to gain the biggest market share so over course of the projection period. For illustrate, a variety of congenital cardiac problems in youngsters from all age groups are frequently identified and treated using interventional cardiology, a medical specialty. The American Heart Association estimates that around 9 out of each 1,000 new taking birth in the US have a congenital heart defect, heart defects one of most prevalent genetic diseases. This should stimulate market expansion in turn.
Due to favourable government spending in cardiology and the rapid rise of medical tourism in the region, Asia Pacific is also anticipated to have considerable rise in the global pediatric interventional cardiology sector. To help pediatric cardiac doctors treat children as quickly as possible, five Centers of Excellence were established in 2021 and opened in China, India, and Malaysia. Through years of outreach and raising awareness, the project has created a strong programme for pediatric cardiology training and solid relationships with local clinicians. The regional market is then anticipated to increase as a result of this.
Global Pediatric Interventional Cardiology Market Drivers:
As during projected timeframe, a rise in the number of congenital heart diseases in the pediatric patients globally is expected to drive overall growth for pediatric interventional cardiology. Congenital heart disease, for example, describes one or even more issues with the structure of the heart that exist at birth. During pregnancy, a structural cardiac condition manifests itself. The most prevalent genetic disorders are congenital heart defects (CHDs). Every year, about 100 and 200 new born die from undetected cardiac problems, as per mendedhearts.org. But these numbers don’t include individuals who pass away before getting a diagnosis.
From over projected period, the worldwide pediatric interventional cardiology is expected to rise at a faster rate because of technological advances in the field. For illustrate, the discovery of pediatric interventional cardiac catheterization has altered the therapy approach for a number of CHD patients. The domain of pediatric congenital cardiac catheterization has lately seen a significant evolution, based on the National Institutes of Health (NIH). In the care of individuals with congenital heart defects, catheter-directed treatments are now highly significant. Pediatric heart illness can now be identified and treated via cardiac catheterization. In turn, this is driving market expansion.
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Global Pediatric Interventional Cardiology Market Opportunities:
The worldwide pediatric interventional cardiology market is likely to present players with considerable potential prospects as pediatric interventional cardiology receives more attention. For illustration Ochsner Medical Center – New Orleans, Ochsner Health’s campus welcomed a new Pediatric Interventional Cardiology Lab (cath lab) in October, 2019. The new lab has been fully operational and now prepared to take care for Ochsner’s small and significantly difficult cardiac patients, thus enhancing Ochsner’s capacity to offer the top notch treatment for patients with heart diseases of all different age groups. The area of 1,250 sq. foot facility was created with pediatric patients in mind, which has driven market expansion.
For market participants in pediactric intervention cardiology, increased emphasis on the advancement of innovative devices is predicted to present considerable potential prospects. As an illustration, the need for innovative cardiology equipment is rising quickly along with the occurrence of congenital cardiac problems. Players in the market are concentrating on creating and releasing unique devices as a result. A cutting edge image-guided therapeutic system for the treatment of structural heart diseases, ECoNavigator 4.0 was introduces internationally by Royal Philip in May 2022 with the help of EchoNavigator, users a Philips’ EPIQ CVXi interventional cardiology ultrasound system have more control over real-time fusion imaging on the company’s Image Guided Therapy System.
Global Pediatric Interventional Cardiology Market Trends:
The usage of pediatric interventional cardiology devices has grown in recent years as a result of growing congenital defect occurrence and better knowledge of pediatric interventional cardiology. Additionally, efforts to raise awareness of heart disease earlier diagnosis have expanded the use of pediatric interventional cardiology equipment. Over the projection period, it is anticipated that this tendency would persist, fueling market expansion.
Additionally, the market is anticipated to increase as a result of factors including the rising prevalence of heart illnesses and activities by both public and private organisations. In order to provide top-notch care for heart patients of all ages, particularly for pediatric patients, public and private organisations from all over the world are increasing their investments in pediatric interventional cardiology. Throughout the projection period, it is anticipated that this tendency would persist, fueling market expansion.
Global Pediatric Interventional Cardiology Market Restraints:
The international pediatric interventional cardiology market is anticipated to experience slow expansion due to the procedure’s high cost. Pediatric interventional cardiology treatment and therapy are expensive, and most people find it difficult to afford them. One such example is the TAVR (Trans Catheter Aortic Valve Replacement) device, which costs US$ 30,000, more than six times the typical surgical valve. One of the priciest treatments for people with heart disease is a TAVR. The market’s expansion is therefore being constrained by the high prices of such procedures.
The market for pediatric interventional cardiology is predicted to grow slowly because to reimbursement and regulatory difficulties. For instance, according to the National Institutes of Health (NIH), existing payment schemes, such as the APR-DRG for pediatric cardiac surgery, are not flawless and may not sufficiently recognise high-complexity neonatal treatment. Additionally, the patient must be assessed by a multidisciplinary team made up of several cardiac surgeons and interventional cardiologists in order for the hospital to be compensated for a TAVR treatment.
Global Pediatric Interventional Cardiology Market Segmentation:
The worldwide pediatric interventional cardiology market report is divided into Product and Geography.
Based on Product, The market is divided into categories such as Atherectomy Devices, Closure Devices, Transcatheter Heart Valves, Catheters, Guidewires, Balloons, Stents, Imaging Technique, and Others. Over the course of the forecast period, the Stents Segment is anticipated to lead the worldwide pediatric interventional cardiology market. This is due to the rise in demand for stents brought on by the rising prevalence of heart problems in children.
Transcatheter Heart Valves Segment due to the increasing prevalence of congenital heart disorders, the market is also anticipated to experience rapid growth in the near future. A biological tissue known as the transcatheter aortic valve can replace a damaged aortic valve.
Global Pediatric Interventional Cardiology Market: Key Developments
In September 2022, the very first pediatric indication for an implanted heart monitor has been given to Medtronic by the U.S. Food and Drug Administration (FDA). The Linq II Insertable Cardiac Monitor (ICM) system is the first of its kind to get 510(k) approval for use in pediatric patients above the age of 2 who have heart rhythm disorders and need long-term, continuous looking after.
In May 2019, the introduction of the NuDEL all-in-one stent delivery system was announced by B. Braun Interventional. In order to cure congenital heart abnormalities, NuDEL and NuMED Inc. created the NuDEL CP Stent Delivery System.
Global Pediatric Interventional Cardiology Market: Key Companies Insights
The market for pediatric interventional cardiology is extremely cutthroat. The market players are concentrating on introducing novel products because of the increased prevalence of congenital cardiac disorders around the world.
Major players in the worldwide pediatric interventional cardiology market are Toshiba (Toshiba Medical Systems), Cordis Edward Lifesciences, Abbott, Terumo Getinge Group (Maquet), Boston Scientific Company, GE Healthcare, Gore Medical, Medtronic, NuMed Inc., Siemens Healthineers, and others.
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Table of Contents:
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Preview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Product
- Market Snapshot, By Geography
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Rise in burden of congenital heart diseases among pediatric patients
- High cost of the procedure and reimbursement and regulatory issues
- Increase in R&D for the development of novel cardiology devices
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTER’s Analysis
- Merger and Acquisition Scenario
- Market Dynamics
- Global Pediatric Interventional Cardiology Market – Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- Global Pediatric Interventional Cardiology Market, By Product, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Closure Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Transcatheter Heart Valves
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Atherectomy Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Catheters
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Guidewires
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Balloons
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Stents
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Imaging Technique
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
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