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Pediatric Interventional Cardiology Global Market is Projected to Increase Revenues Growth, Business Insights, Future Demand and Forecast 2024-2033
Pediatric Interventional Cardiology Global Market
According to The Business Research Company's, The pediatric interventional cardiology market size has grown strongly in recent years. It will grow from $2.31 billion in 2023 to $2.51 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increased mycotoxin awareness, stringent regulatory standards, focus on animal health, globalization of poultry production, market competitiveness, increased farm productivity..
The pediatric interventional cardiology market size is expected to see strong growth in the next few years. It will grow to $3.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to growing poultry industry, climate change impacts, demand for organic products, global trade dynamics, government initiatives, increasing health consciousness.. Major trends in the forecast period include integration of technology, feed quality and safety, market consolidation, collaborative research efforts, digitalization in agriculture, advancements in feed technology..
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Market Drivers and Trends:
The increasing prevalence of congenital heart disease is expected to propel the growth of the pediatric interventional cardiology market. Congenital heart disease is any problem that has affected the heart and its structure since birth. Pediatric interventional cardiology procedures are used to treat congenital heart disease that advantages over traditional open-heart surgery, including shorter recovery times, reduced risk of infection, and less scarring. For instance, in 2022, according to the American Heart Association, a US-based non-profit organization that is focused on cardiovascular medical research, approximately 40,000 infants in the United States are affected by congenital heart defects, and the birth prevalence of congenital heart diseases is estimated to be 12.3 per 1000 in the country. Furthermore, The Lancet, a weekly peer-reviewed general medical journal based in the United Kingdom, published an article in 2022 stating that congenital heart disease is the most common birth defect, affecting nearly 9 out of every 1000 live births. Therefore, the increasing prevalence of congenital heart disease will drive the growth of the pediatric interventional cardiology market.
Product innovation is a key trend in the pediatric interventional cardiology market. Major companies in pediatric interventional cardiology are introducing new and innovative solutions to strengthen their position in the market. For instance, in February 2023, Medtronic plc., a US-based medical devices company launched a trans catheter pulmonary valve, the Harmony Transcatheter Pulmonary Valve System. The Harmony TPV system is a minimally invasive alternative to open-heart surgery and can be implanted through a small incision in the leg or neck. The Harmony TPV system is intended for patients who have previously undergone surgery for congenital heart disease and have a dysfunctional RVOT (right ventricular outflow tract) due to a previously implanted conduit or bio prosthetic pulmonary valve. It is also indicated for patients with native or patched RVOT who require pulmonary valve replacement.
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Major Key Players of the Market:
Medtronic plc; GE HealthCare Technologies Inc.; Abbott Laboratories; Cardinal Health Inc.; Terumo Corporation; W.L. Gore & Associates Inc.; Boston Scientific Corporation; Edwards Lifesciences Corporation; Siemens Healthineers; Numed Inc.; St. Jude Medical Inc.; Cordis Corporation; Koninklijke Philips N.V.; Biotronik; B. Braun Melsungen AG; Canon Medical Systems Corporation; Gore & Associates Inc.; Johnson and Johnson; Cook Group LLC; Teleflex Incorporated; Merit Medical Systems Inc.; MicroPort Scientific Corporation; Lepu Medical Technology (Beijing) Co.Ltd.; Biosensors International Group Ltd.; Cardiac Science Corporation; Asahi Intecc Co.Ltd.; Medinol Ltd.; Jotec GmbH; Hexacath Ltd.; Translumina GmbH
Pediatric Interventional Cardiology Market 2024 Key Insights:
• The pediatric interventional cardiology market will grow to $3.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
• Surge In Congenital Heart Disease Fuels The Growth Of The Pediatric Interventional Cardiology Market
• Revolutionizing Pediatric Cardiology Market With Introduction Of Innovative Solutions
• North America was the largest region in the pediatric interventional cardiology market in 2023
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