Pediatric interventional cardiology specifically deals with the catheter-based treatments in children’s structural heart diseases. A large number of tests are performed in this branch of cardiology, making it one of the sought after course of treatment for both the patients as well as the specialist healthcare professionals. In the recent few years, the demand in the pediatric interventional cardiology market has significantly gone up. As a result, the industry is also witnessing great technological advancements and increasing revenue pockets across different geographic parts of the world. The market is aiming at healthy growth with the current happenings and growth in the demand for catheter-based treatments.
Segmentation in Interventional Cardiology Industry
The global pediatric interventional cardiology market is segmented on the basis of the types of devices and geographic regions. Based on geography, the market is segmented into Europe, North America, Asia Pacific, and rest of the world. The rest of the world segment also includes extensive study of various regions like Africa, Middle East, and Latin America. Following are the details of the sub-segmentation in the industry:
- Congenital Heart Defect Closure Devices: Patent Ductus Arteriosus (PDA) Closure, Ventricular Septal Defect (VSD), Atrial Septal Defect (ASD) Patent Foramen Ovale (PFO) Closure, and Left Atrial Appendage (LAA) Closure Devices
- Transcatheter Heart Valves: Transcatheter aortic valves and transcatheter pulmonary valves
Trends and Forecasts
The pediatric interventional cardiology market is expected to witness healthy growth in the next few years to come. The steady and impressive growth in the industry is attributed to a number of reasons. Growth in the instances of heart diseases amongst children, congenital heart diseases, growth in the awareness across developing countries, FDA’s initiatives to boost up the healthcare regulatory procedures and such other factors play crucial role in the development of this industry. Technological advancements in the market are attributed to the rising demand for these treatment procedures as well. Growth and awareness in the emerging markets like Asia Pacific, Latin America, Middle East and Africa are also creating better business opportunities for the existing as well as potential businesses.
According to the research reports, the pediatric interventional cardiology market is expected to grow at a CAGR 9%, to become worth more than $1,379.1 million by 2018. While North America and Europe are leading the global industry, developing regions like Asia Pacific and Latin America are also expecting great boost in business, during the forecasting period. Technological advancements and rising awareness are expected to be the key factors for the industry in the years to come.