Pediatric Cardiology Market to Reach US$ 6.5 Billion by 2034, Fueled by Rising Prevalence of Congenital Heart Disorders (CHD) and Surgical Interventions |TMR

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Jul 24, 2024, 05:45 ET

Procedurally, improvements such as minimally invasive catheter-based interventions have revolutionized remedy procedures. The seriousness of congenital heart defects (CHDs) in pediatric cardiology is evident in the extensive research and development efforts aimed at improving outcomes.

WILMINGTON, Del., July 24, 2024 /PRNewswire/ -- The global pediatric cardiology market is projected to total a valuation of nearly US$ 4.3 billion in 2024. During the forthcoming forecast period, the ecosystem is slated to rise at a CAGR of 3.9% to total US$ 6.5 billion. The global pediatric cardiology market is expected to grow considerably, driven by technological advancements, improved healthcare infrastructure, and supportive government policies.

The increase in the prevalence of congenital heart disorders (CHD) is driving the pediatric cardiology devices market. It is estimated that about one-third of babies born with CHD require some form of intervention early in life, with the majority needing open-heart surgery.

The global pediatric cardiology market is expected to grow considerably, driven by technological advancements, improved healthcare infrastructure, and supportive government policies. Innovations in minimally invasive procedures, catheter-based therapies, and heart transplant programs underscore the importance and complexity of treating congenital heart diseases in pediatrics.

Focusing on CHDs in pediatric cardiology not only addresses a critical need but also propels advancements in medical technologies and treatment protocols that benefit a wide range of patients. Funding for research and development in paediatric cardiology has also increased significantly, promoting innovation and the development of new diagnostic and treatment procedures. Nonprofit organisations play an important role in this environment by promoting awareness, sponsoring research, and assisting families impacted by paediatric cardiac diseases.

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Organizations such as the American Heart Association and the British Heart Foundation perform substantial outreach and educational initiatives to educate the general public and healthcare practitioners on the importance of CHD screening and management. These organisations also promote policy reforms and improved funding for paediatric cardiology research.

Despite significant progress in medical diagnosis and intervention, challenges remain in the care of patients with CHD. These challenges affect not only patients but also cardiac surgeons, general cardiologists, and CHD specialists. Additionally, compared to high-income countries, there are far fewer comprehensive pediatric heart centers capable of performing infant and newborn heart surgeries in low- and middle-income countries, posing a significant challenge for the growth of the pediatric cardiology market over the forecast period.

Focusing on CHDs in pediatric cardiology not only addresses a critical need but also propels advancements in medical technologies and treatment protocols that benefit a wide range of patients. Funding for research and development in paediatric cardiology has also increased significantly, promoting innovation and the development of new diagnostic and treatment procedures. Non-profit organisations play an important role in this environment by promoting awareness, sponsoring research, and assisting families impacted by paediatric cardiac diseases.

Despite significant progress in medical diagnosis and intervention, challenges remain in the care of patients with CHD. These challenges affect not only patients but also cardiac surgeons, general cardiologists, and CHD specialists. Additionally, compared to high-income countries, there are far fewer comprehensive pediatric heart centers capable of performing infant and newborn heart surgeries in low and middle-income countries, posing a significant challenge for the growth of the pediatric cardiology market over the forecast period.

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Key Takeaways from the Market Report

As of 2023, the global pediatric cardiology market was valued at US$ 4.3 billion.
From 2024 to 2034, the market is projected to expand 1.4x.
By product, demand for pediatric cardiology catheters to experience elevated demand.
Congenital heart disease (CHD) to be the primary application area for pediatric cardiology in the coming years.
Pediatric cardiology procedures are expected to be conducted maximum across hospitals.

Pediatric Cardiology Market Drivers and Trends

Rising prevalence of CHD is driving the pediatric cardiology devices market. It is estimated that about one-third of infants born with CHD require some form of intervention early in life, with the majority needing open-heart surgery.
The market is expected to grow considerably, driven by technological advancements, improved healthcare infrastructure, and supportive government policies.
Innovations in minimally invasive procedures, catheter-based therapies, and heart transplant programs underscore the importance and complexity of treating congenital heart diseases in pediatrics.
Advancements in minimally invasive procedures, catheter-based therapies, and heart transplant programs highlight the significance and complexity of treating congenital heart diseases in the pediatric field.

Pediatric Cardiology Market Report Scope:

Report Coverage	Details
Forecast Period	2024-2034
Base Year	2020-2022
Size in 2023	US$ 4.3 Bn
Forecast (Value) in 2034	US$ 6.5 Bn
Growth Rate (CAGR)	3.9 %
No. of Pages	152 Pages
Segments covered	By Product Type, By Application, By End-user, By Region

Regional Profile of the Pediatric Cardiology Landscape

North America is a potential market for investing in pediatric cardiology treatment, with the United States being the pivot. The scope is heightened primarily because of an increasing prevalence of CHDs.
It is estimated that at least 1%, or 40,000 of all infants born in the country are affected by CHD. About 1 in 4 babies with a heart defect have a critical heart defect. Infants with critical heart defects generally need surgery or other procedures in their first year of life.
Given the complexity of multidisciplinary treatment and the rise in life expectancy of people living with CHD, patients in rural places may have different results than those in metropolitan areas. However, there is a lack of data on rural-urban inequalities in CHD-related mortality.

Competitive Landscape

From engaging in collaborative partnerships to launching new products, players in the global pediatric cardiology market hope to secure a substantial revenue share in forthcoming years. Characterized by the presence of various prominent players, the industry is significantly competitive.

Players such as Medtronic, and Edwards Lifesciences, are investing in research and development activities to launch innovative catheter technologies. Their objective is to meet the growing demands of the market, as the number of pediatric patients needing interventional cardiology procedures continues to rise.

Some of the prominent pediatric cardiology market players profiled in the report are as follows:

Abbott Laboratories
Medtronic
Siemens Healthineers
Edward Life Sciences
Terumo Medical
W.L. Gore & Associates
Heart Medical
Other Prominent Players

Key Developments

In June 2024, Abbott Laboratories received the CE Mark in Europe for its AVIER^TMdual chamber (DR) leadless pacemaker system. This is the world's first leadless pacemaker that treats people with abnormal or slow rhythms. It utilizes a new method of delivering dual chamber therapy- one pacing the right ventricle and the other the right atrium.
Medtronic received the FDA expanded approval for its Freezor^TMand Freezor^TMXtra Cardiac Cryoablation Focal Catheters. These catheters are deployed to treat pediatric atrioventricular nodal reentrant tachycardia (AVNRT), a life-threatening abnormal heart rhythm.

Market Segmentation

Product Type

Transcatheter Heart Valves
Occlusion Devices
Atherectomy Devices
Catheters
Stents
Others

Application

Congenital Heart Diseases
Acquired Heart Diseases
Arrhythmias
Cardiomyopathies
Others

End User

Hospitals
Speciality Centers
Others

Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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