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.
Seattle, WA -- (SBWIRE) -- 11/15/2019 -- The global Pediatric Interventional Cardiology market is segmented on the basis of type of devices and geography. Based on the type of device, the market is further segmented into congenital heart defect closure devices, transcatheter heart valves, and others (catheters, guidewires, balloons, and stents). Based on geography, this market is divided into four geographic regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). This report also includes the number of pediatric interventional cardiology procedures performed across different regions.
The market is expected to witness a healthy growth in the forecast period. This high growth can be attributed to a number of factors such as the rising incidences of congenital heart disease and FDA's initiatives to seep-up the regulatory procedure. Technological advancements, owing to which new and advanced products are being launched in the market, is another factor propelling the growth of this market. The untapped markets in the Asia-Pacific region are major opportunity areas for pediatric interventional cardiology companies.
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The Asia-Pacific region is expected to witness the highest growth over the next five years. The major reason for this high growth is the improving healthcare infrastructure in this region. Also, the growth in government investments for improving pediatric care facilities, coupled with investments by major players in the APAC region, is another factor that is propelling the growth of this market.
Scope of the Report
In the recent years, the pediatric interventional cardiology market has witnessed a large number of technological advancements, owing to which new and advanced products are being launched in the market. The global market was valued at $894.7 million in 2027 and is expected to reach $1,379.1 million by 2027, at a CAGR of 9.0%. The market is broadly classified based on the type of devices and geography. The numbers of pediatric interventional cardiology procedures performed in each geography are also provided in this report.
The devices market is further divided into structural heart defect closure devices, transcatheter heart valves, and Others. The structural heart defect closure devices segment is sub-divided into artial septal defect closure devices, ventricular septal defect closure devices, patent foramen ovale, patent ductus arteriosus, and left artial appendage closure devices. The transcatheter heart valves segment is classified into transcatheter pulmonary valves and transcatheter aortic valves. The Others segment consist of devices such as catheters, guidewires, stents, and balloons.
The major factors driving the growth of the market include the growth in government support, rising incidences of congenital heart defects, technological advancements, and the advantages of minimally invasive surgeries over traditional surgeries. Moreover, the presence of a large untapped market in emerging countries, high growth potential of transcatheter heart valves market, and advancements in biodegradable devices for pediatric patients represent the growth opportunities for this market.
Pediatric Interventional Cardiology Market
Over the next five years, the growth of the global market in the APAC region is likely to be centered at China, Japan, Australia, New Zealand, Singapore, and India. This growth will be driven by new product launches, government initiatives, and investments by major players in the APAC market.
The major players in the pediatric interventional cardiology market include St. Jude Medical, Inc. (U.S.), Medtronic, Inc. (U.S.), W.L. Gore & Associates, Inc. (U.S.), Edwards Lifesciences Corp (U.S.), NuMED, Inc. (U.S.), Cordis Corporation (U.S.), GE Healthcare (U.K.), Siemens Healthcare (Germany), Boston Scientific (U.S.), and Abbott Vascular (U.S.), among others.
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