Global Pediatric Interventional Cardiology Market - 2022-2029
The global pediatric interventional cardiology market size was valued US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).
Pediatric interventional cardiology is a process in which interventional cardiology is performed on infants, children, and adolescents up to the age of 18. Angioplasty, congenital heart defect treatment, valvuloplasty, and coronary thrombectomy are performed under interventional cardiology. Various hospitals, clinical testing laboratories, cardiac centers, pediatric clinics, and research institutions use this procedure.
Recent advancement in Pediatric Interventional Cardiology is expected to drive market growth.
A far less invasive approach is a new treatment for Congenital Heart Disease that uses a transcatheter pulmonary valve (TPV) technology. It is meant to extend into the right ventricular outflow tract while deploying a bioprosthetic pulmonary valve and can be implanted percutaneously with only a minor incision; it was also authorized by the US Food and Drug Administration in March 2021. Thus, the market is expected to boost in the forecast period from the above statements.
High treatment costs, inadequate reimbursement procedures and strict regulatory policies on procedures are the factors the market is expected to get hampered in the forecast period.
COVID-19 Impact Analysis
The COVID-19 pandemic has moderately impacted healthcare systems and the market. The lockdown restrictions, as well as the pandemic itself, have caused extensive modifications in healthcare operations. Many countries and healthcare systems, particularly in critical care, have experienced substantial service strain. It has demanded the reorganization of resources to meet those needs. COVID-19 has altered how people connect with health services at the same time. Cardiac involvement is common in children with the Covid-19 pandemic-related multisystem inflammatory syndrome. In addition to high C-reactive protein and procalcitonin levels, most children have elevated N-terminal pro-B-type natriuretic peptide, ferritin, D-dimers, and cardiac troponin. Despite multisystem involvement, significantly elevated inflammatory markers, and the requirement for critical care support, mortality in children with multisystem inflammatory syndrome associated with COVID-19 is uncommon compared to adults with COVID-19. In contrast, percutaneous cardiac interventions in Pediatric and Adult Congenital Heart Disease (ACHD) patients were limited to urgent or emergency ones to limit the in-hospital infections and redistribute healthcare professionals.
Furthermore, because of lockdowns, travel boycotts, and other factors, the COVID-19 epidemic has affected clinical and confirmatory trials, pipeline milestones, and regulatory clearances and approvals of tricuspid valve repair and replacement devices in several countries. Thus, COVID-19 has profoundly impacted clinical and surgical practice at every level, with the suspension or postponement of screening, medical association approvals, and clinical trial activities.
Stents segment is expected to hold the largest market share in pediatric interventional cardiology market
The stents segment is expected to dominate in 2021. For pediatric interventional cardiology operations, various stents are available on the market. Among them are bare stents, drug-eluting stents, and bio-absorbable stents. A bare stent is inserted during angioplasty to expand any constricted coronary artery. A bare stent is suggested if the obstructed vessel is large and the obstructions are modest. A bare-metal stent is quite inexpensive and aids in rapid vascular repair while posing little danger of thrombosis. Drug-eluting stents are used to prevent fibrosis in stenotic arteries by releasing medicines. Unlike bare stents, these aid in suppressing restenosis or relocking of the artery following angioplasty, lowering the risk of angioplasty repetition. Therefore, it has increased its demand. Thus, the market segment is expected to hold the largest market share in the forecast period from the above statements.
North America region holds the largest market share in the global pediatric interventional cardiology market
In 2021, North America accounted for the highest revenue share. The increasing prevalence of congenital heart diseases, technological advancements in the devices, well-established infrastructure, and increasing awareness among people are some factors the market is expected to boost in the forecast period. For instance, congenital heart abnormalities are the most prevalent type of congenital impairment, affecting around one out of every 100 babies born in the United States, according to the Center for Disease Control and Prevention (CDC). Approximately 7,200 of the 40,000 babies born with a heart issue each year have a serious congenital heart abnormality requiring surgery or treatment. Moreover, about 1 in 4 babies with a CHD have a critical CHD. Infants with critical CHDs generally need surgery or other procedures in their first year of life. Therefore, it has increased the demand for pediatric interventional cardiology devices. Thus, the North American region is expected to hold the largest market share in the forecast period from the above statements.
Major key players in the pediatric interventional cardiology market are Medtronic, Abbott, Lepu Medical Technology(Beijing)Co.,Ltd. , ATRICURE, INC., Edwards Lifesciences Corporation, Thubrikar Aortic Valve, Cardinal Health, NuMED Inc.
Medtronic plc is an American-Irish registered medical device company primarily operating in the United States. It has an operational and executive headquarters in Fridley, Minnesota, in the US. Moreover, it develops and manufactures devices and therapies to treat more than 30 chronic diseases, including heart failure, Parkinsons disease, urinary incontinence, Down syndrome, obesity, chronic pain, spinal disorders and diabetes. It is operated in 140 countries and employs over 104,950 people.
AFFINITY PIXIE OXYGENATION SYSTEM: The Affinity Pixie oxygenation system delivers performance and versatility for neonates, infants, and small children requiring cardiopulmonary bypass at flow rates up to 2.0 L/min.
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