Pediatric Heart Valve Repair and Replacement Global Market Report 2024

The pediatric heart valve repair and replacement market size has grown steadily in recent years. It will grow from $3.23 billion in 2023 to $3.36 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. The growth observed in the historic period can be attributed to several key factors, including the increasing prevalence of congenital heart defects, heightened awareness and early diagnosis, a supportive regulatory environment, rising investments in healthcare, and advocacy efforts by patients and parents. These factors collectively contributed to advancements in the diagnosis, treatment, and management of congenital heart defects, leading to improved outcomes and quality of life for affected individuals.

The pediatric heart valve repair and replacement market size is expected to see steady growth in the next few years. It will grow to $3.77 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%. The projected growth in the forecast period is fueled by several factors, including the heightened incidence of pediatric cardiovascular conditions, the broader availability of pediatric cardiac care services, an increasing emphasis on early intervention, a surge in research focused on pediatric cardiovascular health, and ongoing development of global healthcare infrastructure. Key trends anticipated during this period include the increasing adoption of tissue-engineered heart valves, innovations in pediatric-specific medical devices, expansion of hybrid treatment approaches, greater utilization of 3D printing technology in pediatric cardiology, and the rise of pediatric valve-in-valve procedures.

The rising incidence of congenital heart defects is expected to drive the growth of the pediatric heart valve repair and replacement market in the future. Congenital heart defects (CHD) are structural abnormalities present in the heart at birth. Pediatric heart valve repair and replacement procedures play a crucial role in treating congenital heart defects, aiming to enhance heart function, improve overall health, prevent complications, and enhance the quality of life for affected children. For example, as reported by the American Heart Association, Inc. in March 2022, more than 2.4 million Americans currently live with congenital heart defects, and approximately 40,000 infants are born with cardiac defects in the United States each year. Therefore, the increasing incidence of congenital heart defects is expected to stimulate growth in the pediatric heart valve repair and replacement market.

Major companies within the pediatric heart valve repair and replacement industry are embracing a strategic partnership approach to deliver customized solutions that cater to the distinct requirements of pediatric cardiac care. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits and success. For example, in August 2023, PolyVascular Inc., a US-based medical technology manufacturer, joined forces with CobiCure, a US-based not-for-profit organization focused on pediatric care. Through this collaboration, their aim is to advance pediatric heart valve repair by offering a tailored, non-surgical approach to address congenital heart defects in children. By eliminating the need for multiple open-heart surgeries as children outgrow traditional valves, they seek to minimize associated complications and enhance patient outcomes.

In December 2021, Venus MedTech HangZhou Inc., a medical device company headquartered in China, completed the acquisition of Cardiovalve Ltd. for $300 million. This strategic move enhances Venus MedTech's capabilities in mitral and tricuspid valve replacement, positioning it as a comprehensive platform company and opening avenues for innovation and international expansion. Cardiovalve Ltd., based in Israel, specializes in transcatheter mitral and tricuspid valve treatments, manufacturing heart valves for cardiac surgery.

Major companies operating in the pediatric heart valve repair and replacement market report are Abbott Laboratories, Medtronic plc, Labcor Laboratórios Ltda, Boston Scientific Corporation, Bracco Group, Lepu Medical Technology (Beijing) Co. Ltd., Edwards Lifesciences Corporation, Artivion Inc., CryoLife Inc., LivaNova PLC, TTK Healthcare Limited, Braile Biomedica Ltda., Arbor Surgical Technologies Inc., Micro Interventional Devices Inc., Xeltis AG, Auto Tissue Berlin GmbH, BioStable Science and Engineering Inc., Colibri Heart Valve LLC, Valcare Medical, Symetis SA, Neovasc Inc., Aortech international Plc., On-X Life Technologies Holdings Inc., JenaValve Technology Inc., Meril Life Sciences Pvt. Ltd.

North America was the largest region in the pediatric heart valve repair and replacement market in 2023. The regions covered in the pediatric heart valve repair and replacement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the pediatric heart valve repair and replacement market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Pediatric heart valve repair and replacement encompass medical procedures and technologies utilized to address heart valve issues in children, particularly targeting congenital or acquired heart valve disorders. These procedures are essential for treating conditions such as congenital heart defects, heart muscle disease, arrhythmias, and atresia.

The primary products in pediatric heart valve repair and replacement include heart valve repair, mechanical heart valves, bioprosthetic heart valves, and transcatheter aortic valve implantation (TAVI). Heart valve repair involves restoring the normal function of a malfunctioning heart valve through medical intervention. This procedure is indicated for various cardiac disorders, including congenital heart defects, heart muscle disease, atresia, arrhythmias, among others. The end-users of these products typically include hospitals, independent cardiac catheterization labs, and ambulatory surgical centers.

The pediatric heart valve repair and replacement market research report is one of a series of new reports that provides pediatric heart valve repair and replacement market statistics, including pediatric heart valve repair and replacement industry global market size, regional shares, competitors with a pediatric heart valve repair and replacement market share, detailed pediatric heart valve repair and replacement market segments, market trends and opportunities, and any further data you may need to thrive in the pediatric heart valve repair and replacement industry. This pediatric heart valve repair and replacement market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The pediatric heart valve repair and replacement market includes revenues earned by providing services such as diagnosis and evaluation, treatment planning, medical management, surgical intervention and surgery. The market value includes the value of related goods sold by the service provider or included within the service offering. The pediatric heart valve repair and replacement market also consists of sales of biological valves, postoperative monitoring devices, sutures and repair materials, annuloplasty rings and bands, and annuloplasty rings and bands. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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