New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pediatric Interventional Cardiology Global Market Report 2023" - https://www.reportlinker.com/p06479846/?utm_source=GNW
, St. Jude Medical, Inc., Cordis Corporation, Koninklijke Philips N.V., Biotronik, and B. Braun.
The global pediatric interventional cardiology market is expected to grow from $2.13 billion in 2022 to $2.31 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pediatric interventional cardiology market is expected to reach $3.10 billion in 2027 at a CAGR of 7.5%.
The pediatric interventional cardiology market includes revenues earned by entities by percutaneous coronary intervention services, atrial septal defect services, cardiac catheterization services, and trans catheter aortic valve replacement services.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.The pediatric interventional cardiology market also consists of sales of plaque modification devices, guide wire, vascular closure devices, and atherectomy device.
Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Pediatric interventional cardiology refers to procedures that use cardiac catheterization in children to diagnose and treat congenital heart defects. Pediatric interventional cardiology is used for treating heart conditions with minimally invasive surgical procedures.
North America was the largest region in the pediatric interventional cardiology market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in pediatric interventional cardiology report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main pediatric interventional cardiology devices are closure devices, trans catheter heart valves, atherectomy devices, catheters, balloons, stents, and others.Closure devices refer to any cover, cap, hatch, lid, plug, seal, valve, or other type of fitting that, when fastened in the closed position, prevents or minimizes air emissions to the environment by sealing an opening in a container or its exterior.
The main pediatric interventional cardiology procedures include catheter-based valve implantation, congenital heart defect correction, angioplasty, coronary thrombectomy, and others used in clinical testing laboratories, hospitals, cardiac centers, pediatric clinics, and research institutions.
The increasing prevalence of congenital heart disease is expected to propel the growth of the pediatric interventional cardiology market.Congenital heart disease is any problem that has affected the heart and its structure since birth.
Pediatric interventional cardiology procedures are used to treat congenital heart disease that advantages over traditional open-heart surgery, including shorter recovery times, reduced risk of infection, and less scarring. For instance, in 2022, according to the American Heart Association, a US-based non-profit organization that is focused on cardiovascular medical research, approximately 40,000 infants in the United States are affected by congenital heart defects, and the birth prevalence of congenital heart diseases is estimated to be 12.3 per 1000 in the country. Furthermore, The Lancet, a weekly peer-reviewed general medical journal based in the United Kingdom, published an article in 2022 stating that congenital heart disease is the most common birth defect, affecting nearly 9 out of every 1000 live births. Therefore, the increasing prevalence of congenital heart disease will drive the growth of the pediatric interventional cardiology market.
Product innovation is a key trend in the pediatric interventional cardiology market.Major companies in pediatric interventional cardiology are introducing new and innovative solutions to strengthen their position in the market.
For instance, in February 2023, Medtronic plc., a US-based medical devices company launched a trans catheter pulmonary valve, the HarmonyTM Transcatheter Pulmonary Valve System. The Harmony TPV system is a minimally invasive alternative to open-heart surgery and can be implanted through a small incision in the leg or neck. The Harmony TPV system is intended for patients who have previously undergone surgery for congenital heart disease and have a dysfunctional RVOT (right ventricular outflow tract) due to a previously implanted conduit or bio prosthetic pulmonary valve. It is also indicated for patients with native or patched RVOT who require pulmonary valve replacement.
In February 2022, Boston Scientific Corporation, a US-based biomedical and biotechnology company acquired Baylis Medical Company Inc. for approximately $1.75 billion. The acquisition will help Boston Scientific Corporation to strengthen its position in the cardiology markets by providing advanced solutions for catheter-based left-heart procedures. Baylis Medical Company Inc. is a US-based medical devices company that operates in high-technology cardiology, endovascular, and oncology products for the treatment of pediatric interventional cardiology.
The countries covered in the pediatric interventional cardiology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.
The pediatric interventional cardiology market research report is one of a series of new reports that provides pediatric interventional cardiology market statistics, including pediatric interventional cardiology industry global market size, regional shares, competitors with a pediatric interventional cardiology market share, detailed pediatric interventional cardiology market segments, market trends and opportunities, and any further data you may need to thrive in the pediatric interventional cardiology industry. This pediatric interventional cardiology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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