DUBLIN, March 29, 2024 /PRNewswire/ — The “Global Pediatric Interventional Cardiology Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
The Global Pediatric Interventional Cardiology Market is forecasted to reach US$ 3.91 billion by 2030, according to the report. The market was valued at US$ 2.54 billion in 2023.
The market proportion is expanding swiftly, driven by the rising prevalence of cardiac disorders in children and technological advancements. The demand for these devices is likewise pushed by the growing prevalence of congenital cardiac illnesses and authorities’ initiatives on this filed. Furthermore, the market benefits from the growing recognition and popularity of less invasive procedures.
Pediatric Interventional Cardiology market is projected to obtain a CAGR of 6.36% from 2024 to 2030 globally
Congenital heart defects (CHD), affecting about 1% of newborns or 40,000 births annually in the United States, according to CDC’s January 2022, embody numerous types, with ventricular septal disorders (VSD) being the most common. The growing prevalence of CHD, in particular mild types, is riding the adoption of pediatric interventional cardiology devices. The growing awareness of Pediatric Interventional Cardiology and surged efforts for early coronary heart disease detection contribute to the device adoption. Public and private companies globally make investments significantly in pediatric interventional cardiology for comprehensive care, further propelling market growth in the forecast period.
Furthermore, public and private companies’ growing occurrence of coronary heart diseases and initiatives are expected to contribute to the market’s thriving. Public and personal groups worldwide are making more investment in pediatric interventional cardiology to provide perfect care of coronary heart patients of all ages, mainly pediatric patients. This trend is predicted to retain in upcoming years, further riding the market increase.
Extensive research and development efforts, growing consumer healthcare spending, and investments from governmental and non-governmental organizations to enhance healthcare infrastructure are key drivers propelling the market. Additionally, substantial technological developments in cardiology contribute to the marketplace’s increase. The pediatric interventional cardiology market companies are expected to benefit from the growing attention on developing novel devices. The occurrence of congenital heart conditions is growing, leading to a surge in demand for new cardiology devices. Therefore, market players are that specialize in growing and launching progressive devices.
In May 2022, Royal Philips introduced the global release of EchoNavigator 4.0, a complicated picture-guided therapies approach to deal with structural heart sickness (SHD). EchoNavigator complements that manipulate of stay fusion imaging for users of Philips’ EPIQ CVXi interventional cardiology ultrasound device within the company Image Guided Therapy System.
Stents are expected to hold a substantial market share over the upcoming years
By Device Type, the Pediatric Interventional Cardiology Market is segmented into Transcatheter Heart Valves, atherectomy, Catheters, Closure Devices, Balloons, Stents, and Others. The Stents segment is anticipated to dominate the global pediatric interventional cardiology market throughout the forecast period.
This projection is grounded in the increasing prevalence of congenital heart defects in pediatric patients, necessitating effective and minimally invasive interventions. Stents are pivotal in addressing such cardiac issues, offering a reliable solution for pediatric interventional cardiology procedures. Their versatility and adaptability contribute to their prominence, providing physicians with a valuable tool to address various pediatric cardiovascular conditions. This trend indicates stent-based interventions’ growing importance and efficacy in pediatric cardiac care.
Catheter-Based Valve Implantation is poised for considerable revenue growth in the foreseeable future
By Procedure, the Pediatric Interventional Cardiology Market is divided into catheter ablation, congenital heart defect correction, angioplasty, coronary thrombosis, and others. Catheter-Based Valve Implantation is poised to achieve substantial revenue growth in the coming years.
This groundbreaking medical procedure utilizes catheters for the implantation or replacement of heart valves, offering a less invasive option compared to conventional surgical interventions. The rising incidence of cardiovascular diseases and the preference for minimally invasive procedures contribute to the increasing demand for catheter-based valve implantation. Progress in medical technology, combined with positive results and shortened recovery periods, establishes this method as a key contributor in the changing realm of interventional cardiology. With growing awareness and adoption, the market is poised to experience substantial financial benefits.
Hospital segment will lead the Pediatric Interventional Cardiology market in 2023 and beyond
By End Use, the Pediatric Interventional Cardiology Market is classified into Hospitals, Ambulatory Surgical Centers, and Others. In 2023 and beyond, the hospital segment is poised to lead the Pediatric Interventional Cardiology market.
Hospitals are primary centers for pediatric cardiac interventions, equipped with specialized facilities and skilled healthcare professionals. The increasing prevalence of congenital heart diseases and the demand for advanced cardiac care contribute to the dominance of hospitals in this sector. The comprehensive infrastructure of hospitals, coupled with their ability to provide diverse pediatric cardiology services, positions them as key contributors to the growth and development of the Pediatric Interventional Cardiology market.
China will capture the majority of the market share
By Countries, Pediatric Interventional Cardiology Market is split into North America (United States, Mexico & Canada), Asia (Australia, China, India, Japan), South America (Brazil & Argentina), Middle East & Africa (Israel, Saudi Arabia, South Africa), Europe (Spain, France, Belgium, Germany, Italy, Netherland, Switzerland Turkey, and United Kingdom) and Rest of World.
Over the past decade, there have been notable changes in the cardiology field in China. Specifically, interventional cardiology has made impressive strides in managing coronary artery disease. Unfortunately, this disease has become increasingly prevalent in a country that was once known for its low incidence of the condition. Contributing factors include rising affluence, adopting Western dietary habits and lifestyles, and widespread smoking. Looking ahead, China is poised for significant growth in this area, thanks to untapped opportunities, a large patient population, improved healthcare facilities, government support, medical tourism, and increased manufacturing investment.
Key Players
Abbott Laboratories, Boston Scientific Corporation, General Electric, Medtronic, Siemens AG, and Cardinal Health Inc. are prominent pediatric interventional cardiology market players.
Device Type – Market has been covered from 6 viewpoints:
Transcatheter Heart Valves
Atherectomy Devices
Catheters
Closure Devices
Balloons
Stents
Others
Procedure – Market has been covered from 5 viewpoints:
Catheter-based Valve I mplation
Congenital Heart Defect Correction
Angioplasty
Coronary Thrombectomy
Others
End Use – Market has been covered from 3 viewpoints:
Hospitals
Ambulatory Surgical Centers
Specialty Clinic
Company Insights:
Overview
Recent Developments
Financial Insights
Companies Covered:
Abbott Laboratories
Boston Scientific Corporation
General Electric
Medtronic
Siemens AG
Cardinal Health Inc.
For more information about this report visit https://www.researchandmarkets.com/r/b2h6nf
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