Market Trends of Pediatric Interventional Cardiology Industry
Stents is Expected to Hold Significant Share in the Market Over the Forecast Period
Factors such as the increasing prevalence of heart diseases coupled with initiatives by public and private organizations are expected to increase segment growth. There are different types of stents available in the market for pediatric interventional cardiology procedures. Bare stents, drug-eluting stents, and bio-absorbable stents are a few of them. A bio-absorbable stent is made up of a metal or a polymer that is dissolved or absorbed into the body. It is highly advanced than, both, bare stents and drug-eluting stents. Bio-absorbable stents do not cause permanent metal prostheses. Thrombosis and restenosis are prevented, as the stent disappears.
According to a research study published by SpringerOpen in November 2021, congenital heart disease patients typically have early decompensation. Heart failure strikes 20% of these infants during the first week of life, 18% during the first and fourth weeks, and 20% between one and twelve months. Hence, the high burden of congenital heart disease in infants is expected to increase the adoption of stents, thus it is a major factor driving the segment growth.
Furthermore, several developments by major organizations are also expected to enhance segment growth. For instance, in July 2021, the American College of Cardiology (ACC) announced a partnership with Armus Corporation to introduce Global Quality Solutions, which aims to enhance cardiac care globally. It will initially begin in South Africa, Brazil, and Saudi Arabia before expanding to more nations and locations. Furthermore, the increasing pediatric population around the world is a major factor that will lead to the adoption of stents in pediatric cardiology procedures, ultimately driving the segment growth.
Thus, the abovementioned factors such as the increasing prevalence of heart diseases, and several developments by major organizations are expected to increase the segment growth.
North America is Expected to a Significant Share in the Market Over the Forecast Period
The pediatric interventional cardiology market is growing at a good pace in North America owing to factors such as the rising incidences of congenital heart diseases and technological advancements in pediatric interventional cardiology.
One of the most prevalent diseases in the United States is heart disease. For instance, according to the data updated by the CDC in October 2022, about 1.3% of children aged 0-4 in the United States were in fair or poor health conditions in 2021, and about 3.3% of children aged 5-11 missed 11 or more days of school in the last 12 months due to some form of illness or injury. Also, as per the above-mentioned source, in the United States, approximately 20.3% of children aged 6 to 11 have obesity, and as obesity is one of the major risk factors for different cardiovascular diseases, the burden of pediatric disease is expected to increase in the country, which would drive growth in the market studied.
Initiatives by key market players are another factor in market growth. For instance, in March 2021, the United States FDA approved the Harmony Transcatheter Pulmonary Valve (TPV) as the world's first nonsurgical heart valve to treat pediatric and adult patients with native or surgically repaired right ventricular outflow tract (RVOT). The device is designed for patients who have severe pulmonary valve regurgitation and is intended to both delay and reduce the number of required lifetime open-heart surgeries by improving blood flow to the lungs.
Thus, the abovementioned factors, such as rising incidences of congenital heart diseases and initiatives by key market players, are expected to increase North American market growth.
