Procedurally, improvements such as minimally invasive
catheter-based interventions have revolutionized remedy procedures.
The seriousness of congenital heart defects (CHDs) in pediatric
cardiology is evident in the extensive research and development
efforts aimed at improving outcomes.
WILMINGTON, Del., July 24,
2024 /PRNewswire/ -- The global pediatric
cardiology market is projected to total a valuation of nearly
US$ 4.3 billion in 2024.
During the forthcoming forecast period, the ecosystem is slated to
rise at a CAGR of 3.9% to total US$ 6.5 billion. The global pediatric
cardiology market is expected to grow considerably, driven by
technological advancements, improved healthcare infrastructure, and
supportive government policies.
The increase in the prevalence of congenital heart disorders
(CHD) is driving the pediatric cardiology devices market. It is
estimated that about one-third of babies born with CHD require some
form of intervention early in life, with the majority needing
open-heart surgery.
The global pediatric cardiology market is expected to grow
considerably, driven by technological advancements, improved
healthcare infrastructure, and supportive government policies.
Innovations in minimally invasive procedures, catheter-based
therapies, and heart transplant programs underscore the importance
and complexity of treating congenital heart diseases in
pediatrics.
Focusing on CHDs in pediatric cardiology not only addresses a
critical need but also propels advancements in medical technologies
and treatment protocols that benefit a wide range of patients.
Funding for research and development in paediatric cardiology has
also increased significantly, promoting innovation and the
development of new diagnostic and treatment procedures. Nonprofit
organisations play an important role in this environment by
promoting awareness, sponsoring research, and assisting families
impacted by paediatric cardiac diseases.
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Organizations such as the American Heart Association and the
British Heart Foundation perform substantial outreach and
educational initiatives to educate the general public and
healthcare practitioners on the importance of CHD screening and
management. These organisations also promote policy reforms and
improved funding for paediatric cardiology research.
Despite significant progress in medical diagnosis and
intervention, challenges remain in the care of patients with CHD.
These challenges affect not only patients but also cardiac
surgeons, general cardiologists, and CHD specialists. Additionally,
compared to high-income countries, there are far fewer
comprehensive pediatric heart centers capable of performing infant
and newborn heart surgeries in low- and middle-income countries,
posing a significant challenge for the growth of the pediatric
cardiology market over the forecast period.
Focusing on CHDs in pediatric cardiology not only addresses a
critical need but also propels advancements in medical technologies
and treatment protocols that benefit a wide range of patients.
Funding for research and development in paediatric cardiology has
also increased significantly, promoting innovation and the
development of new diagnostic and treatment procedures. Non-profit
organisations play an important role in this environment by
promoting awareness, sponsoring research, and assisting families
impacted by paediatric cardiac diseases.
Organizations such as the American Heart Association and the
British Heart Foundation perform substantial outreach and
educational initiatives to educate the general public and
healthcare practitioners on the importance of CHD screening and
management. These organisations also promote policy reforms and
improved funding for paediatric cardiology research.
Despite significant progress in medical diagnosis and
intervention, challenges remain in the care of patients with CHD.
These challenges affect not only patients but also cardiac
surgeons, general cardiologists, and CHD specialists. Additionally,
compared to high-income countries, there are far fewer
comprehensive pediatric heart centers capable of performing infant
and newborn heart surgeries in low and middle-income countries,
posing a significant challenge for the growth of the pediatric
cardiology market over the forecast period.
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Key Takeaways from the Market Report
- As of 2023, the global pediatric cardiology market was valued
at US$ 4.3 billion.
- From 2024 to 2034, the market is projected to expand 1.4x.
- By product, demand for pediatric cardiology catheters to
experience elevated demand.
- Congenital heart disease (CHD) to be the primary application
area for pediatric cardiology in the coming years.
- Pediatric cardiology procedures are expected to be conducted
maximum across hospitals.
Pediatric Cardiology Market Drivers and Trends
- Rising prevalence of CHD is driving the pediatric cardiology
devices market. It is estimated that about one-third of infants
born with CHD require some form of intervention early in life, with
the majority needing open-heart surgery.
- The market is expected to grow considerably, driven by
technological advancements, improved healthcare infrastructure, and
supportive government policies.
- Innovations in minimally invasive procedures, catheter-based
therapies, and heart transplant programs underscore the importance
and complexity of treating congenital heart diseases in
pediatrics.
- Advancements in minimally invasive procedures, catheter-based
therapies, and heart transplant programs highlight the significance
and complexity of treating congenital heart diseases in the
pediatric field.
Pediatric Cardiology Market Report Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2034
|
Base
Year
|
2020-2022
|
Size in 2023
|
US$ 4.3 Bn
|
Forecast (Value) in
2034
|
US$ 6.5 Bn
|
Growth Rate
(CAGR)
|
3.9 %
|
No. of
Pages
|
152
Pages
|
Segments
covered
|
By Product Type, By
Application, By End-user, By Region
|
Regional Profile of the Pediatric Cardiology
Landscape
- North America is a potential
market for investing in pediatric cardiology treatment, with
the United States being the pivot.
The scope is heightened primarily because of an increasing
prevalence of CHDs.
- It is estimated that at least 1%, or 40,000 of all infants born
in the country are affected by CHD. About 1 in 4 babies with
a heart defect have a critical heart defect. Infants with critical
heart defects generally need surgery or other procedures in their
first year of life.
- Given the complexity of multidisciplinary treatment and the
rise in life expectancy of people living with CHD, patients in
rural places may have different results than those in metropolitan
areas. However, there is a lack of data on rural-urban inequalities
in CHD-related mortality.
Competitive Landscape
From engaging in collaborative partnerships to launching new
products, players in the global pediatric cardiology market hope to
secure a substantial revenue share in forthcoming years.
Characterized by the presence of various prominent players, the
industry is significantly competitive.
Players such as Medtronic, and Edwards Lifesciences, are
investing in research and development activities to launch
innovative catheter technologies. Their objective is to meet the
growing demands of the market, as the number of pediatric patients
needing interventional cardiology procedures continues to rise.
Some of the prominent pediatric cardiology market players
profiled in the report are as follows:
- Abbott Laboratories
- Medtronic
- Siemens Healthineers
- Edward Life Sciences
- Terumo Medical
- W.L. Gore & Associates
- Heart Medical
- Other Prominent Players
Key Developments
- In June 2024, Abbott
Laboratories received the CE Mark in Europe for its AVIERTM dual
chamber (DR) leadless pacemaker system. This is the world's
first leadless pacemaker that treats people with abnormal or slow
rhythms. It utilizes a new method of delivering dual chamber
therapy- one pacing the right ventricle and the other the right
atrium.
- Medtronic received the FDA expanded approval for its
FreezorTM and FreezorTM Xtra
Cardiac Cryoablation Focal Catheters. These catheters are
deployed to treat pediatric atrioventricular nodal reentrant
tachycardia (AVNRT), a life-threatening abnormal heart rhythm.
Market Segmentation
Product Type
- Transcatheter Heart Valves
- Occlusion Devices
- Atherectomy Devices
- Catheters
- Stents
- Others
Application
- Congenital Heart Diseases
- Acquired Heart Diseases
- Arrhythmias
- Cardiomyopathies
- Others
End User
- Hospitals
- Speciality Centers
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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