Pediatric Interventional Cardiology Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 11.10 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Pediatric Interventional Cardiology Market Analysis
Over the next few years, the pediatric interventional cardiology market is expected to register a CAGR of 11.1%.
The COVID-19 pandemic had a significant effect on the pediatric interventional cardiology market. Several investigations from throughout the world have reported decreases in hospitalizations and cardiac procedures. For instance, according to an article published by PubMed in August 2022, the pandemic significantly impacted the delivery of pediatric cardiac care across India, with a two-thirds reduction in hospitalizations and cardiac surgeries. Thus, the market was significantly impacted during the pandemic; however, as the pandemic has subsided currently, the hospitals have started their normal procedures. Hence, the studied market is expected to have stable growth during the forecast period of the study.
Market growth is likely to be boosted by things like more people getting heart disease and faster technological progress.
The most prevalent birth problem is congenital heart defects (CHD). According to the data updated by the CDC in January 2022, CHDs affect nearly 1% of newborns, or about 40,000 births per year in the United States. The prevalence (the number of babies born with a heart defect compared to the total number of births) of some CHDs, especially mild types, is increasing, while the prevalence of other types has remained stable. The most common type of heart defect in newborns is a ventricular septal defect (VSD). Thus, the increasing prevalence of CHD is expected to increase the adoption of pediatric interventional cardiology devices.
In addition, new product launches and strategic activities by major players in the market are positively affecting the growth of the studied market. For instance, in July 2021, Abbott launched an occluder, which is a self-expanding wire mesh device that is inserted through a small incision in the leg and guided through vessels to the heart, where it is placed to seal the opening in the heart. It is one of the world's first medical devices that can be implanted in the tiniest of babies (weighing as little as 700 g) using a minimally invasive procedure to treat patent ductus arteriosus, or PDA.
Thus, the abovementioned factors, such as increasing heart disease and new product launches and strategic activities by major players in the market, are expected to increase the market's growth. However, stringent regulatory policies and expensive treatments and therapies are likely to hamper the growth of the pediatric interventional cardiology market.
Pediatric Interventional Cardiology Market Trends
This section covers the major market trends shaping the Pediatric Interventional Cardiology Market according to our research experts:
Stents is Expected to Hold Significant Share in the Market Over the Forecast Period
Factors such as the increasing prevalence of heart diseases coupled with initiatives by public and private organizations are expected to increase segment growth. There are different types of stents available in the market for pediatric interventional cardiology procedures. Bare stents, drug-eluting stents, and bio-absorbable stents are a few of them. A bio-absorbable stent is made up of a metal or a polymer that is dissolved or absorbed into the body. It is highly advanced than, both, bare stents and drug-eluting stents. Bio-absorbable stents do not cause permanent metal prostheses. Thrombosis and restenosis are prevented, as the stent disappears.
According to a research study published by SpringerOpen in November 2021, congenital heart disease patients typically have early decompensation. Heart failure strikes 20% of these infants during the first week of life, 18% during the first and fourth weeks, and 20% between one and twelve months. Hence, the high burden of congenital heart disease in infants is expected to increase the adoption of stents, thus it is a major factor driving the segment growth.
Furthermore, several developments by major organizations are also expected to enhance segment growth. For instance, in July 2021, the American College of Cardiology (ACC) announced a partnership with Armus Corporation to introduce Global Quality Solutions, which aims to enhance cardiac care globally. It will initially begin in South Africa, Brazil, and Saudi Arabia before expanding to more nations and locations. Furthermore, the increasing pediatric population around the world is a major factor that will lead to the adoption of stents in pediatric cardiology procedures, ultimately driving the segment growth.
Thus, the abovementioned factors such as the increasing prevalence of heart diseases, and several developments by major organizations are expected to increase the segment growth.
North America is Expected to a Significant Share in the Market Over the Forecast Period
The pediatric interventional cardiology market is growing at a good pace in North America owing to factors such as the rising incidences of congenital heart diseases and technological advancements in pediatric interventional cardiology.
One of the most prevalent diseases in the United States is heart disease. For instance, according to the data updated by the CDC in October 2022, about 1.3% of children aged 0-4 in the United States were in fair or poor health conditions in 2021, and about 3.3% of children aged 5-11 missed 11 or more days of school in the last 12 months due to some form of illness or injury. Also, as per the above-mentioned source, in the United States, approximately 20.3% of children aged 6 to 11 have obesity, and as obesity is one of the major risk factors for different cardiovascular diseases, the burden of pediatric disease is expected to increase in the country, which would drive growth in the market studied.
Initiatives by key market players are another factor in market growth. For instance, in March 2021, the United States FDA approved the Harmony Transcatheter Pulmonary Valve (TPV) as the world's first nonsurgical heart valve to treat pediatric and adult patients with native or surgically repaired right ventricular outflow tract (RVOT). The device is designed for patients who have severe pulmonary valve regurgitation and is intended to both delay and reduce the number of required lifetime open-heart surgeries by improving blood flow to the lungs.
Thus, the abovementioned factors, such as rising incidences of congenital heart diseases and initiatives by key market players, are expected to increase North American market growth.
Pediatric Interventional Cardiology Industry Overview
The market is moderately competitive and consists of several major players. Market players in the global pediatric interventional cardiology market are focusing on the expansion of their product portfolios by adopting inorganic growth strategies such as acquisitions, mergers, and partnerships. Major players in the global pediatric interventional cardiology market are Abbott Laboratories, Cardinal Health, GE Healthcare, Medtronic, and NuMED Inc., among others.
Pediatric Interventional Cardiology Market Leaders
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Cardinal Health
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Medtronic
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Abbott Laboratories
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GE Healthcare
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NuMED Inc.
*Disclaimer: Major Players sorted in no particular order
Pediatric Interventional Cardiology Market News
- September 2022: The United States FDA granted the first pediatric indication for an implantable cardiac monitor to Medtronic. The Linq II Insertable Cardiac Monitor (ICM) system is the first of its kind to be cleared by the FDA under 510(k) for use in pediatric patients over the age of two who have heart rhythm abnormalities and require long-term, continuous monitoring.
- February 2022: Children's Hospital Los Angeles implanted a cardiac stent that's designed specifically for babies and young children and can be expanded all the way to adult size. The first-in-human procedure is part of a multicenter early feasibility study led by Children's Hospital Los Angeles. The study aims to solve a longstanding limitation of traditional cardiac stents: that they are too large to be used in the youngest and smallest patients.
Pediatric Interventional Cardiology Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increased R&D Activities Towards Development of Novel Devices
- 4.2.2 Rising Incidences of Congenital Heart Diseases
- 4.2.3 Technological Advancements in Pediatric Interventional Cardiology
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4.3 Market Restraints
- 4.3.1 High Cost of the Procedures
- 4.3.2 Reimbursement and Regulatory Issues
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Device Type
- 5.1.1 Closure Devices
- 5.1.2 Transcatheter Heart Valves
- 5.1.3 Atherectomy Devices
- 5.1.4 Catheters
- 5.1.5 Balloons
- 5.1.6 Stents
- 5.1.7 Other Device Types
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5.2 By Procedure
- 5.2.1 Catheter-Based Valve Implantation
- 5.2.2 Congenital Heart Defect Correction
- 5.2.3 Angioplasty
- 5.2.4 Coronary Thrombectomy
- 5.2.5 Other Procedures
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Abbott Laboratories
- 6.1.2 BIOTRONIK
- 6.1.3 Boston Scientific Corporation
- 6.1.4 Canon Medical Systems Corporation
- 6.1.5 Cardinal Health
- 6.1.6 Cordis
- 6.1.7 Edwards Lifesciences Corporation
- 6.1.8 GE Healthcare
- 6.1.9 Medtronic
- 6.1.10 NuMED Inc.
- 6.1.11 Siemens Healthineers
- 6.1.12 W. L. Gore & Associates, Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Pediatric Interventional Cardiology Industry Segmentation
As per the scope of the report, interventional cardiology is the sub-specialty of cardiology that uses intravascular catheter-based techniques with fluoroscopy to treat coronary artery, valvular, and congenital cardiac diseases. Pediatric interventional cardiology refers to the process of performing interventional cardiology on infants, children, and adolescents up to 18 years of age. Various procedures that can be performed under interventional cardiology include angioplasty, valvuloplasty, congenital heart defect correction, and coronary thrombectomy. The pediatric interventional cardiology market is segmented by device type (closure devices, transcatheter heart valves, atherectomy devices, catheters, balloons, stents, and other device types), procedure (catheter-based valve implantation, congenital heart defect correction, angioplasty, coronary thrombectomy, and other procedures), and geography (North America, Europe, Asia-Pacific, the Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Device Type | Closure Devices | |
| Transcatheter Heart Valves | ||
| Atherectomy Devices | ||
| Catheters | ||
| Balloons | ||
| Stents | ||
| Other Device Types | ||
| By Procedure | Catheter-Based Valve Implantation | |
| Congenital Heart Defect Correction | ||
| Angioplasty | ||
| Coronary Thrombectomy | ||
| Other Procedures | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Pediatric Interventional Cardiology Market Research FAQs
What is the current Pediatric Interventional Cardiology Market size?
The Pediatric Interventional Cardiology Market is projected to register a CAGR of 11.10% during the forecast period (2024-2029)
Who are the key players in Pediatric Interventional Cardiology Market?
Cardinal Health, Medtronic, Abbott Laboratories, GE Healthcare and NuMED Inc. are the major companies operating in the Pediatric Interventional Cardiology Market.
Which is the fastest growing region in Pediatric Interventional Cardiology Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Pediatric Interventional Cardiology Market?
In 2024, the North America accounts for the largest market share in Pediatric Interventional Cardiology Market.
What years does this Pediatric Interventional Cardiology Market cover?
The report covers the Pediatric Interventional Cardiology Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Pediatric Interventional Cardiology Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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