Pediatric Interventional Cardiology Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Pediatric Interventional Cardiology Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The pediatric interventional cardiology market is poised to grow at a CAGR of 11.1% during the forecasted period (2022-2027).

The COVID-19 pandemic had an adverse effect on the pediatric interventional cardiology market. Several investigations from throughout the world have reported decreases in hospitalizations, according to a November 2021 paper by the European Society of Cardiology titled "COVID-19 and cardiovascular disease: a dangerous syndemic." These include declines in cardiac non-invasive and invasive/surgical procedures, delays in cardiovascular care times, a decrease in the attention given to out-of-hospital cardiac arrest, and a worsening of their short-term outcomes. Acute cardiovascular conditions, such as acute coronary syndromes or heart failure, are also included. However, with the introduction of vaccines are upliftment of lockdown, there has been an increase in the number of hospitalizations and outpatient visits as there are numerous guidelines introduced for the treatment of patients with the cardiovascular disorder in the COVID-19 pandemic. The COVID-19 edition for 2020 was introduced by the National Capital Consortium for Pediatric Device Innovation (NCC-PDI), which prompted a focus on COVID-19-related device advancements that will enhance children's healthcare. Although the pediatric population has not been affected by COVID-19 as much as other age groups, children continue to face a major risk from it. Thus, due to the abovementioned factors, the market is expected to grow in the future.

Factors such as increasing heart diseases coupled with increased technological advancement are expected to increase the market growth. The most prevalent birth problems is congenital heart defects (CHD). According to the Heart Disease & Stroke Statistical Fact Sheet 2020, congenital heart abnormalities are predicted to affect at least 40,000 infants annually in the United States. Of these, 2.4 (per 1,000 live births), or roughly 25%, require medical attention in the first year of life. Increasing research activities to improve technological advancement is another factor in market growth. Researchers from the Universities of Cambridge and Bristol created the innovative 3D-printed artificial valve PoliValve in July 2020. The team's most recent in vitro findings, which were published in the journal Biomaterials Science, show that the PoliValve may last patients up to 25 years, which is significantly longer than any other kind of replacement heart valve now on the market. Similarly, the HT Supreme Drug-Eluting Stent (DES) was commercially implanted for the first time in August 2021 at University Hospital Galway in collaboration with the National University of Ireland Galway, beginning the European launch, according to SINOMED, a major worldwide medical device business. Thus, the abovementioned factors are expected to increase the market growth.

However, stringent regulatory policies, expensive treatments, and therapies are likely to hamper the growth of the pediatric interventional cardiology market.

Key Market TrendsStents is Expected to Hold Significant Share in this Market

Factors such as the increasing prevalence of heart diseases coupled with initiatives by public and private organizations are expected to increase market growth. According to a research study published in November 2021 titled “Impact of the nutritional status of children with congenital heart diseases on the early post-operative outcome" stated 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. For instance, the American College of Cardiology (ACC) announced in July 2021 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. 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 few among 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. Abbott launched the LIFE-BTK clinical trial in September 2020 to assess the security and efficiency of the business's brand-new Esprit BTK Everolimus Eluting Resorbable Scaffold System. This is the first Investigational Device Exemption (IDE) trial to be conducted in the United States to test a bioresorbable stent for the treatment of critical limb ischemia (CLI), or blocked arteries below the knees, in patients with severe peripheral arterial disease (PAD). Thus, the abovementioned factors are expected to increase the market growth.

North America is Expected to Dominate the Market Over the Forecast Period

The pediatric interventional cardiology market is growing at good pacing owing to factors, such as the increasing geriatric population, 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, according to the Centers for Disease Control and Prevention (CDC). According to the February 2022 update of the Centers for Disease Control and Prevention (CDC), about 2.1% of children in the United States are in fair or poor health conditions in 2020, and about 3.3% of children aged 5 to 11, in 2020, 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 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. Abbott's Amplatzer Piccolo Occluder was employed by St. Joseph's Children's Hospital in December 2020 to treat life-threatening cardiac abnormalities in preterm infants. Additionally, the smallest babies (weighing as low as two pounds) can have the Amplatzer Piccolo installed utilizing a minimally invasive technique.

Thus, the abovementioned factors are expected to increase market growth.

Competitive Landscape

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. The market is moderately competitive and consists of several major players. Major players in Global Pediatric Interventional Cardiology Market are Abbott Laboratories, Cardinal Health, GE Healthcare, Medtronic, and NuMED Inc. among others.

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