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 [https://www.transparencymarketresearch.com/pediatric-cardiology-market.html] 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.
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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
AVIER(TM )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 Freezor(TM )and
Freezor(TM )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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