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Congenital Heart Disease (CHD) Market Report 2024 - CHD Market Demand And Size
Congenital Heart Disease (CHD) Market
According to The Business Research Company's, The congenital heart disease (CHD) market size has grown strongly in recent years. It will grow from $4.03 billion in 2023 to $4.42 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to the increased prevalence of risk factors such as obesity and smoking, improved diagnostic technologies, expanded geriatric population, heightened awareness campaigns, enhanced reimbursement policies, and increased investment in research and development.
The congenital heart disease (CHD) market size is expected to see strong growth in the next few years. It will grow to $6.43 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to expanding access to healthcare services in developing regions, continuous innovation in cardiac imaging technologies, growing awareness campaigns promoting early detection and treatment, rising healthcare expenditure globally, and the development of personalized medicine. Major trends in the forecast period include adoption of minimally invasive surgical techniques, expanding use of telemedicine for remote patient monitoring and consultations, rising demand for personalized treatment approaches, development of innovative implantable devices with enhanced functionality and longevity, integration of artificial intelligence and machine learning in diagnostic and therapeutic processes.
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Market Drivers and Trends:
The increase in maternal diabetes cases is expected to propel the growth of the congenital heart disease (CHD) market going forward. Maternal diabetes, or gestational diabetes mellitus (GDM), refers to diabetes that arises during pregnancy in women who did not have diabetes before conception. Maternal diabetes is caused by changes in lifestyle, including sedentary behavior and unhealthy dietary habits, and an overall rise in obesity rates among women of childbearing age. Maternal diabetes can lead to congenital heart disease (CHD) in infants due to the high blood sugar levels affecting fetal heart development. The elevated glucose levels in the mother's blood can disrupt the normal development of the baby's heart, increasing the risk of CHD. For instance, in January 2023, according to the Centers for Disease Control and Prevention, a US-based government agency for public health, the percentage of pregnant mothers diagnosed with gestational diabetes had risen to 8.3% in 2021 from 6.0% in the previous five years. Therefore, the increase in maternal diabetes cases is driving the growth of the congenital heart disease (CHD) market.
Major companies operating in the congenital heart disease market are developing non-surgical heart valves to improve patient outcomes and quality of life. Non-surgical heart valves, or transcatheters, are medical devices that treat heart valve diseases without needing traditional open-heart surgery. For instance, in February 2023, Medtronic, a US-based medical technology company, reintroduced its Harmony Transcatheter Pulmonary Valve (TPV) System. It is a groundbreaking, minimally invasive alternative to open-heart surgery for patients with congenital heart disease, specifically those with native or surgically repaired right ventricular outflow tract (RVOT) anomalies. This system is the first FDA-approved valve designed for the right side, providing a non-surgical solution for patients with severe pulmonary valve regurgitation. The Harmony TPV System received U.S. FDA approval in 2021. It was reintroduced following a voluntary recall, demonstrating Medtronic's commitment to advancing solutions for congenital heart disease patients.
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Major Key Players of the Market:
Pfizer Inc., AstraZeneca Plc, Abbott Laboratories, Novartis AG, Medtronic, Siemens Healthineers, Philips Healthcare, Roche Diagnostics International Ltd., Boston Scientific Corp., Laboratory Corporation of America Holdings (LabCorp), Terumo Corporation, Mindray Medical International Limited, Canon Medical Systems Corporation, Masimo Corporation, Neusoft Corp., Carestream Health, Midmark Corporation, Contec Medical Systems, Randox Laboratories Ltd., Schiller AG, BPL Medical Technologies, Compumedics Limited, Biocare Medical, Bionet America Inc., Nasan Medical Electronics Pvt Ltd
Congenital Heart Disease (CHD) Market 2024 Key Insights:
• The congenital heart disease (CHD) market size is expected to see strong growth in the next few years. It will grow to $6.43 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%.
• Maternal Diabetes Driving Congenital Heart Disease Market Growth
• Innovative Non-Surgical Heart Valves Transforming Congenital Heart Disease Treatment
• North America was the largest region in the congenital heart disease (CHD) market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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