2024 Global Pediatric Interventional Cardiology Market Report: Key Drivers, Size, and Leading Segments
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What Growth Rate is Predicted for the Pediatric Interventional Cardiology Market for 2024-2033?
In the past few years, the market size of pediatric interventional cardiology has significantly expanded. The growth forecast shows it will rise from $2.31 billion in 2023 to $2.51 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.4%. The expansion during the historical period was due to heightened awareness of mycotoxins, strict regulatory policies, emphasis on animal health, worldwide expansion of poultry production, market competitiveness, and increased farm productivity.
Anticipations indicate a robust expansion of the pediatric interventional cardiology market in the imminent years. It’s predicted to augment to a value of $3.34 billion by 2028, with a compound annual growth rate (CAGR) of 7.4%. The expected growth during the forecasted period can be accredited to factors such as a burgeoning poultry industry, effects of climate change, demand surge for organic products, fluctuations in global trade, initiatives by the government, and heightened health awareness. Projected trends during this forecasted period encompass technology integration, emphasis on feed quality and safety, industry consolidation, joint research ventures, digital transformation in the agricultural sector, along with advances in feed technology.
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What Drivers Are Enhancing the pediatric interventional cardiology Market’s Growth?
The escalation in the incidence of congenital heart disease is anticipated to fuel the expansion of the pediatric interventional cardiology market. This category of heart disease refers to any heart or structural issues present from birth. Procedures within pediatric interventional cardiology are utilized to manage congenital heart disease, providing benefits over conventional open-heart surgeries such as shorter recovery periods, decreased infection risk, and minimal scarring. For instance, data from the American Heart Association—an American nonprofit concentrating on cardiovascular medical research—in 2022 reaffirms that almost 40,000 infants in the United States are impacted by congenital heart conditions. The birth prevalence of such diseases is projected to be around 12.3 per 1000 within the nation. Additionally, an article from The Lancet—a weekly UK-based general medical journal—published in 2022 suggests that congenital heart disease is the most prevalent birth defect, impacting nearly 9 in every 1000 live births. Consequently, the rising incidence of congenital heart disease is set to stimulate the expansion of the pediatric interventional cardiology market.
What Segments Are Central to the Pediatric Interventional Cardiology Market?
1) By Device Type: Closure Devices, Trans catheter Heart Valves, Atherectomy Devices, Catheters, Balloons, Stents, Other Device Types
2) By Procedure: Catheter-Based Valve Implantation, Congenital Heart Defect Correction, Angioplasty, Coronary Thrombectomy, Other Procedures
3) By End-Use: Clinical Testing Laboratories, Hospitals, Cardiac Centers, Pediatric Clinics, Research Institutions
What Emerging Trends Are Influencing Pediatric Interventional Cardiology Industry Dynamics?
The trend of product innovation plays a significant role in the pediatric interventional cardiology industry. To secure their market position, key companies are coming up with unique and innovative solutions. For example, in February 2023, the Harmony Transcatheter Pulmonary Valve System was launched by Medtronic plc., a major medical devices company based in the US. This system, intended as a less invasive substitute for open-heart surgery, can be installed through a small incision either in the leg or neck. The Harmony TPV system can benefit patients who have had a previous congenital heart disease surgery and have a dysfunctional RVOT (right ventricular outflow tract) because of a previously inserted conduit or bio prosthetic pulmonary valve. It is also suitable for patients with native or patched RVOT who need a pulmonary valve replacement.
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Which Geographic Locations Are Critical to the Growth of the Pediatric Interventional Cardiology Market?
North America was the largest region in the pediatric interventional cardiology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global pediatric interventional cardiology market during the forecast period. The regions covered in the pediatric interventional cardiology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Pediatric Interventional Cardiology Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the pediatric interventional cardiology market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Pediatric Interventional Cardiology Market Include
1. Pediatric Interventional Cardiology Market Executive Summary
2. Pediatric Interventional Cardiology Market Segments
3. Pediatric Interventional Cardiology Market Size And Template Market Growth Rate
4. Key Pediatric Interventional Cardiology Market Trends
5. Major Pediatric Interventional Cardiology Market Drivers
……
25. Key Mergers And Acquisitions In The Pediatric Interventional Cardiology Market
26. Top Pediatric Interventional Cardiology Companies
27. Pediatric Interventional Cardiology Market Opportunities And Strategies
28. Pediatric Interventional Cardiology Market, Conclusions And Recommendations
29. Appendix
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