Pediatric Interventional Cardiology Market - Growth, Trends, and Forecasts (2023-2028)

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

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 Market Competitor Analysis

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.

Additional benefits of purchasing the report:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.