Global Pediatric Interventional Cardiology Industry is anticipated to expand at a CAGR of 6.39% during 2021-2027:
The global Pediatric Interventional Cardiology Market Size is expanding rapidly, owing to a growth in the number of children with cardiac disorders and technical breakthroughs in the area. The worldwide pediatric interventional cardiology devices demand is also being driven by the increased incidence of congenital cardiac diseases and government initiatives in this field. In addition, the worldwide pediatric interventional cardiology devices market is benefiting from rising awareness and popularity of more minor invasive procedures.
Congenital Heart Defect Closure Devices and Transcatheter Heart Valves are significant segments:
By Device Type, the dominance of congenital heart defect closure devices in the pediatric interventional cardiology market is due to an increase in the number of cases of congenital disabilities and increased awareness of the necessity for pediatric interventional cardiology devices. Furthermore, because cardiac procedures involving transcatheter heart valves are more effective, the market for transcatheter heart valves is predicted to develop at a constant rate throughout the forecast period.
The Hospitals Segment Dominates the Market for Global Pediatric Interventional Cardiology Devices:
The hospital segment will lead the Paediatric Interventional Cardiology Devices market in 2021 and beyond. The domination of hospitals can be attributed to well-equipped infrastructure, the availability of technical equipment, an increase in the number of practitioners and patients, and an increase in collaborations to help alleviate the load of diagnosis and treatment around the world.
In addition, the availability of sophisticated technology to monitor pediatric cardiac abnormalities and a change in attention toward ambulatory centers for treatment has increased the number of patients choosing mobile facilities for diagnosis. As a result, there is an association between ambulatory center expansion and ambulatory center growth.
North America Dominates the Global Paediatric Interventional Cardiology Devices Industry:
According to the research, North America dominates the global pediatric interventional cardiology devices market, owing to the rising frequency of cardiac illnesses among children and the region's technical improvement. In the next few years, the pediatric interventional cardiology devices market in Asia-Pacific is predicted to rise rapidly.
In the Asian region, China and India are expected to be the fastest expanding markets for pediatric interventional cardiology devices. This is due to massive investments in these countries by various multinational corporations. Large patient pools, increased government funding, and improved healthcare facilities are the primary driving forces for emerging countries' pediatric interventional cardiology devices market.
Key Players:
The international market for pediatric interventional cardiology is highly consolidated, oligopolistic, and competitive. Furthermore, the market is capital-intensive, necessitating significant investments in R&D initiatives. The global pediatric interventional cardiology market is monopolized by Cardinal Health Inc., Medtronic Inc., Abbott Laboratories, Boston Scientific Corporation, General Electric, Siemens AG, and Koninklijke Philips N.V.
Furthermore, these market participants in the Global Pediatric Interventional Cardiology Industry are focusing on expanding their product portfolios through inorganic growth strategies including acquisitions, mergers, and collaborations.
How COVID-19 Turned Down the Global Paediatric Interventional Cardiology Market:
The COVID-19 pandemic significantly impacted pediatric cardiac care worldwide, resulting in fewer hospitalizations and cardiac operations. Thus, in a resource-constrained setting, such a considerable reduction in the number of procedures had a significant impact. However, the recovery and vaccine data have shown to be valuable in establishing a strategy to manage the COVID-19 pandemic's future effects. Thus, as per the analysis, Global Paediatric Interventional Cardiology Market was US$ 1,510.3 Million in 2021.
The publisher's latest report Paediatric Interventional Cardiology Market, Global Forecast By Device Type (Congenital Heart Defect Closure Devices and Transcatheter Heart Valves), End Use (Hospitals, Ambulatory Surgical Centers, Specialty Clinic), Region (North America, Europe, Asia Pacific and Middle East & Africa), Companies (Cardinal Health Inc., Medtronic Inc., Abbott Laboratories, Boston Scientific Corporation, General Electric, Siemens AG, and Koninklijke Philips N.V)” provides a detailed analysis of Paediatric Interventional Cardiology Industry.
Device Type - Market has been covered from 2 viewpoints:
1. Congenital Heart Defect Closure Devices
2. Transcatheter Heart Valves
End Use - Market has been covered from 3 viewpoints:
1. Hospitals
2. Ambulatory Surgical Centers
3. Specialty Clinic
Region - Market has been covered from 4 viewpoints:
1. North America
2. Europe
3. Asia Pacific
4. Middle East & Africa
Company Insights:
- Overview
- Recent Development & Strategies
- Financial Insights
Companies Covered:
1. Cardinal Health Inc.
2. Medtronic, Inc.
3. Abbott Laboratories
4. Boston Scientific Corporation
5. General Electric
6. Siemens AG
7. Koninklijke Philips N.V
Table of Contents
Companies Mentioned
- Cardinal Health Inc.
- Medtronic, Inc.
- Abbott Laboratories
- Boston Scientific Corporation
- General Electric
- Siemens AG
- Koninklijke Philips N.V
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 100 |
Published | April 2022 |
Forecast Period | 2021 - 2027 |
Estimated Market Value ( USD | $ 1510.3 Million |
Forecasted Market Value ( USD | $ 2190.1 Million |
Compound Annual Growth Rate | 6.3% |
Regions Covered | Global |
No. of Companies Mentioned | 7 |