Report Explores the Pediatric Interventional Cardiology Devices Market Latest Trends and Insights over 2020
Pediatric interventional cardiology refers to a process of performing interventional cardiology on infants, children and adolescents up to 18 years. Various procedures that can be performed under interventional cardiology are angioplasty, valvuloplasty, congenital heart defect correction and coronary thrombectomy. Pediatric interventional cardiology devices market is growing at a significant rate due to increase in the number of heart diseases among young pediatric population and technological advancements in the field.
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On the basis of type of product, pediatric interventional cardiology devices market can be segmented into heart defect closure devices, transcatheter heart valves and others. Other devices in pediatric interventional cardiology devices are angioplasty stents, angioplasty balloons, catheters and guidewires.
North America dominates the global pediatric interventional cardiology devices market due to increasing prevalence of cardiac diseases in pediatric population and technological advancement in the region. Asia, followed by Europe, is expected to experience high growth rate in the next few years in pediatric interventional cardiology devices market. China and India are expected to be the fastest growing pediatric interventional cardiology devices markets in Asian region. This is due to large investment by various major companies in these countries. Some of the key driving forces for pediatric interventional cardiology devices market in emerging countries are large pool of patients, rising government funding and improvement in the healthcare facilities.
Rising incidence of congenital heart diseases, technological advancements and government initiatives in this field are some of the major factors driving the global pediatric interventional cardiology devices market. In addition, increasing awareness and growing popularity of minimally invasive procedures are driving the global pediatric interventional cardiology devices market. However, high cost involved in the pediatric interventional cardiology procedure and strict government regulations are restraining the global pediatric interventional cardiology devices market. In addition, poor reimbursement scenario is restraining the global pediatric interventional cardiology devices market.
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Growing demographics and economies in the developing countries such as India and China are expected to offer good opportunities for pediatric interventional cardiology market. In addition, growing awareness and innovation of some new products with better efficiency are expected to offer good opportunity for global pediatric interventional cardiology devices market. High cost involved is one of the major challenges faced by global pediatric interventional cardiology devices market. Some of the latest trends that have been observed in global pediatric interventional cardiology devices market include companies involved in mergers and acquisitions.
In addition, it has been observed that companies are involved in R&D and product launches of more efficient products. Some of the major companies involved in global pediatric interventional cardiology devices market are St. Jude Medical, Gore Medical, Boston Scientific, Edward LifeSciences, Abbott Vascular, GE Healthcare and Siemens Healthcare.
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