Market Research Report
Pediatric Interventional Cardiology Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||390887|
|Published||Content info||115 Pages
Delivery time: 2-3 business days
|Pediatric Interventional Cardiology Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: September 1, 2019||Content info: 115 Pages||
The pediatric interventional cardiology market is growing at a significant rate, due to the increasing instances of heart diseases in children and the rising technological advancements in the field. Other factors driving the pediatric interventional cardiology market include increasing awareness among the population, increased preference of minimally invasive procedures over conventional surgeries, and the rising number of congenital disorders. However, stringent regulatory policies, expensive treatments, and therapies are likely to hamper the growth of the pediatric interventional cardiology market.
Interventional cardiology is a branch of cardiology that deals specifically with the catheter-based treatment of structural heart diseases. Pediatric interventional cardiology refers to a process of performing interventional cardiology on infants, children, and adolescents up to 18 years. Various procedures that can be performed under interventional cardiology are angioplasty, valvuloplasty, congenital heart defect correction, and coronary thrombectomy.
Patent Ductus Arteriosus is Expected to Hold Significant Share in this Market
In patent ductus arteriosus (PDA), there is a persistent communication between the descending thoracic aorta and the pulmonary artery that results from failure of normal physiologic closure of the fetal ductus. PDA is a common congenital heart defect worldwide. Most PDA incidences occur in infants between the age of 0-5 years. This defect is generally greater in premature babies. On average, PDA occurs in about 8 out of every 1,000 premature babies, compared with 2 out of every 1,000 full-term babies. Technological advancements are widely taking place in the development of Patent Ductus Arteriosis (PDA) Closure Devices, companies are also investing huge expenditure on R&D activities. For instance, in 2019, Abbott received U.S. Food and Drug Administration (FDA) for its the Amplatzer Piccolo Occluder, the world's first medical device that can be implanted in the tiniest babies (weighing as little as two pounds) using a minimally invasive procedure to treat patent ductus arteriosus or PDA.
The Asia Pacific is the fastest-growing region in Pediatric Interventional Cardiology Market
North America region has the largest share in global pediatric interventional cardiology market. This can be attributed to the rising incidences of CHDs, nationwide. As per the Centre for Disease Control (CDC), congenital heart defect (CHD) is the most common type of birth defects, which affects nearly 1%, or about 40,000 births per year. The prevalence of some of the mild CHDs is increasing, while the prevalence of other types has remained stable. At least 15% of all CHDs are associated with genetic conditions. Other prime drivers are rising demand for less invasive procedure for high-risk patients, growing prevalence of mitral regurgitation, severe aortic stenosis disorder, and also factors, such as shorter recovery time, less stay in hospitals, favorable outcomes with transcatheter prosthetic valve implantation, and other technological advancements are likely to boost the growth of the Pediatric Interventional Cardiology Market in North America region.
Market players in Global Pediatric Interventional Cardiology Market are focusing on expansion of their product portfolios by adopting inorganic growth strategies such as acquisitions, mergers and partnerships. While only few companies are coming forward with innovative technologies and new product launches. Major players in Global Pediatric Interventional Cardiology Market are Abbott, Boston Scientific Corporation, Cardinal Health, Edwards Lifesciences Corporation, GE Healthcare, W. L. Gore & Associates, Medtronic, NuMED Inc., and Siemens AG among others.