Pediatric Interventional Cardiology Market to Grow with a CAGR of 6.72% through 2028
The rising incidence of congenital heart diseases, the
widespread adoption of minimally invasive techniques, and technological
innovations are expected to drive the Global Pediatric Interventional
Cardiology Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Pediatric
Interventional Cardiology Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Pediatric
Interventional Cardiology Market stood at USD 2.41 billion in 2022 and is
anticipated to grow with a CAGR of 6.72% in the forecast period, 2024-2028.
This can be attributed to research and clinical trials. Ongoing research and
clinical trials are vital factors driving the pediatric interventional
cardiology market. These studies continually refine existing procedures and
explore new interventions, ensuring that the field remains at the forefront of
pediatric cardiac care. Patients and practitioners benefit from evidence-based
advancements in treatment options.
Moreover, research in gene therapy and regenerative
medicine holds promise for treating congenital heart diseases at the genetic
level. While still in the experimental phase, these approaches may become more
prominent in the future.
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The pediatric interventional cardiology market was
significantly impacted by the COVID-19 pandemic. Numerous global investigations
have documented a decrease in hospitalizations and cardiac procedures during
this period. For instance, an article published on PubMed in August 2022
highlighted the substantial impact of the pandemic on the provision of
pediatric cardiac care in India, resulting in a two-thirds reduction in
hospitalizations and cardiac surgeries. However, with the pandemic now waning,
hospitals have resumed their standard procedures. Consequently, the studied
market is anticipated to experience stable growth throughout the forecast
period of the study.
Market expansion is expected to be driven by factors
such as an increasing incidence of heart disease and rapid technological
advancements. The most prevalent congenital condition is congenital heart
defects (CHD). According to data updated by the CDC in January 2022, CHDs
affect nearly 1% of newborns, equivalent to approximately 40,000 births
annually in the United States. The prevalence, which is the proportion of
babies born with a heart defect relative to total births, is on the rise for
some CHD types, particularly milder forms, while remaining stable for others.
Ventricular septal defect (VSD) is the most common heart defect in newborns.
Consequently, the rising prevalence of CHD is projected to drive the adoption
of pediatric interventional cardiology devices.
Moreover, the introduction of new products and
strategic initiatives by major market players is positively influencing market
growth. For instance, in July 2021, Abbott launched an occluder, a
self-expanding wire mesh device that can be inserted through a small incision
in the leg and navigated through vessels to the heart. Here, it is positioned
to seal heart openings, particularly to treat patent ductus arteriosus (PDA).
Remarkably, this device can be implanted in even the smallest infants, weighing
as little as 700 grams, using a minimally invasive procedure.
In summary, factors like the increasing prevalence of
heart disease and innovations from leading market players are expected to drive
market growth. However, stringent regulatory policies and the costliness of
treatments and therapies may pose challenges to the expansion of the pediatric
interventional cardiology market.
The Global Pediatric Interventional Cardiology Market
is segmented into device type, procedure, regional distribution, and company.
Based on its device type, the stents segment is
projected to grow during the forecast period. Factors such as the rising
prevalence of heart diseases, along with initiatives undertaken by both public
and private organizations, are anticipated to stimulate the growth of this
segment. There are a variety of stent types available in the market for
pediatric interventional cardiology procedures. These encompass bare stents,
drug-eluting stents, and bio-absorbable stents, among others. Notably,
bio-absorbable stents represent a more advanced option compared to both bare
stents and drug-eluting stents. Bio-absorbable stents are composed of either
metal or polymer materials that gradually dissolve or get absorbed into the
body. They offer the advantage of not leaving permanent metallic prostheses
behind, which helps in preventing complications such as thrombosis and
restenosis as the stent eventually dissolves.
According to a research study published by
SpringerOpen in November 2021, infants with congenital heart disease typically
experience early decompensation. Specifically, heart failure occurs in
approximately 20% of these infants within the first week of life, 18% between
the first and fourth weeks, and another 20% between one and twelve months of
age. Consequently, the substantial burden of congenital heart disease in
infants is expected to drive the increased adoption of stents, thereby serving
as a major catalyst for segment growth.
Furthermore, several initiatives and developments
spearheaded by prominent organizations are poised to further bolster the growth
of this segment. For instance, in July 2021, the American College of Cardiology
(ACC) unveiled a partnership with Armus Corporation to introduce Global Quality
Solutions, aimed at elevating the standard of cardiac care on a global scale.
This initiative will initially roll out in South Africa, Brazil, and Saudi
Arabia, with plans to expand its reach to additional nations and regions.
Additionally, the growing pediatric population worldwide constitutes a
significant factor that is poised to drive the adoption of stents in pediatric
cardiology procedures, ultimately fueling the expansion of this segment.
Based on procedure, catheter-based valve implantation
is poised to dominate the Global Pediatric Interventional Cardiology Market due
to its numerous advantages and increasing adoption. Unlike traditional
open-heart surgery, catheter-based procedures are minimally invasive, offering
pediatric patients reduced risks, shorter recovery times, and less scarring.
These procedures have shown remarkable efficacy in treating various congenital
and acquired heart conditions in children, including valve defects. Furthermore,
the continuous technological advancements in catheter-based techniques, along
with the development of specialized pediatric devices and stents, are enhancing
their precision and effectiveness. As healthcare providers and parents seek
less invasive options for treating pediatric heart conditions, catheter-based
valve implantation is emerging as a preferred choice, thereby driving its
dominance in the global market.
Major companies operating in
Global Pediatric Interventional Cardiology Market are:
- Abbott Laboratories Inc
- Biotronik Inc
- Boston Scientific Corporation
- Canon Medical Systems Corp
- Cardinal Health Inc
- Cordis Corp
- Edwards Lifesciences LLC
- GE Healthcare Inc
- Medtronic Inc
- Siemens Healthineers AG
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“The Global Pediatric Interventional Cardiology Market
is poised for significant advancements in the coming years, driven by the
emerging trends. As technology continues to evolve and our understanding of
pediatric cardiac care deepens, children with heart conditions stand to benefit
from more precise, less invasive, and personalized interventions. The
collective efforts of healthcare providers, researchers, and innovators
worldwide are shaping a future where pediatric cardiac care is more effective
and patient-centric than ever before,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“Pediatric Interventional Cardiology Market By
Device Type (Closure Devices, Transcatheter Heart
Valves, Atherectomy Devices, Catheters, Balloons, Stents, Others), By Procedure
(Catheter-Based Valve Implantation, Congenital Heart Defect Correction,
Angioplasty, Coronary Thrombectomy, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Pediatric Interventional Cardiology
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Pediatric
Interventional Cardiology Market.
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