Global pediatric interventional cardiology market is expected to have a CAGR of 9% during the forecast period 2016-2023. Interventional cardiology incorporates catheter based treatments for cardiac disease and is performed by specialized interventional cardiologists. Majority of the interventional cardiology process are considered to be simply invasive as they do not engage the use of many tools to go into the body or open surgeries. These actions engage the use of catheters inserted into femoral artery in the upper leg. Real time x-ray is used to direct the catheter towards heart or vascular area. There are numerous benefits of interventional cardiology processes such as little postoperative recovery low threat of infectivity, times and evasion of big scars. The pediatric interventional cardiology market is projected to observer a productive growth in the future years, due to the constant growth of new minimally invasive devices and the increasing population base of pediatric patients. Key factors expected to drive the market demand are:
- The increasing incidents of inherited heart situations among pediatric patients
- Initiatives taken by regulatory authorities to strengthen the interventional cardiology division
- Mounting expenditure for the research and development of new heart valve products
The factors influencing the enhancement of the market are constant advancement in technology coupled with high level of acceptance of superior technologies. In addition, increasing inclination for minimally invasive procedures, augmented investments in R&D by the market players towards development of innovative devices and increased affordability of patients further contributes to the growth of the market. Complex nature of pediatric clinical trials and different regulatory policies delaying the product launches are the constraints for the market. Rising economies and demographics in the emergent countries such as China and India are likely to propose higher opportunities for the global pediatric interventional cardiology market. Additionally, increasing awareness and advancement of some new products with better effectiveness are projected to provide good opportunity for global pediatric interventional cardiology devices market. High costs involved is one of the main challenges faced by global pediatric interventional cardiology devices market.
Source: OBRC Analysis
Global pediatric interventional cardiology market is segmented on the basis of products and imaging techniques. On the basis of products, the market is segmented into:
- Closure Devices
- Transcatheter Heart Valves
- Atherectomy Devices
- Catheters
- Guidewires
- Balloons
- Stents
- Other Products
On the basis of imaging techniques, the market is segmented into:
- Optical Coherence Tomography (OCT) Imaging
- Intravascular Ultrasound (IVUS)
- Near Infrared Spectroscopy (NIRS)
- Other
Due to the fact that cardiac surgeries use transcatheter pulmonary valves have exhibited superior effectiveness, it is estimated that they will fuel the expansion of this market at a steady rate throughout the forecast period. The ASD closure device finds larger application in successfully finishing congenital holes on the walls of the heart. Because of the increasing incidences of congenital cardiac structural defects, it is projected that the heart deficiency closure devices division will see an extensive demand growth in demand future years.
The revenue for the above products and closure devices and imaging techniques segments are specific to the global pediatric interventional cardiology market. However, the total revenue of these products, devices and imaging techniques in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up products, devices and imaging technique segment.
Geographically, the global pediatric interventional cardiology market has been segmented on the basis of four major region, which include:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America accounted for the largest share in 2016. The continuing research and development programs, development of novel heart valves using decellularized matrices are projected to diminish post-surgery refusal rates and as a result it will contribute tothe market growth in the region. These developments combined with FDA initiatives to reinforce the interventional cardiology regulatory structure are projected to drive the North America pediatric interventional cardiology market in the future years. Asia Pacific is projected to develop at a significant rate during the next seven years due to the growing government funding and support in cardiology and growth of medical tourism.
Key players in the pediatric interventional cardiology market include
- ABBOTT VASCULAR
- BOSTON SCIENTIFIC CORPORATION
- EDWARDS LIFE SCIENCE
- GE HEALTHCARE
- MEDTRONIC
- SIEMENS Healthcare
Detailed analysis of these companies provided in this report comprises of overview, SCOT analysis, product portfolio, strategic initiative and strategic analysis.
The market is extremely oligopolistic, consolidated and aggressive. The market is capital concentrated and demands high investments in research and development programs. Players in the market adopted many strategies such as technical collaboration, partnership agreement, product development and merger& acquisition to capture high market share. In a strategic move on August 2016, Edwards Lifesciences Corporation the worldwide leader in the science of heart valves and hemodynamic monitoring completed its acquisition of CardiAQ Valve Technologies, Inc., a privately held company and manufacturer of a transcatheter mitral valve replacement system. Joint knowledge and work of the talented CardiAQ and Fortis transcatheter mitral valve system teams will help us advance a therapy that provides a significant solution for patients.
Why to buy the report:
This report will:
- Provide you the business strategies adopted by market player such as on August 2016, Edwards Lifesciences Corporation acquired CardiAQ Valve Technologies Inc.
- Provide in detail the different segments such as products and imaging technique which affect the global pediatric interventional cardiology market.
- Provide you the patent analysis of global pediatric interventional cardiology market.
- Identify and understand the strengths, opportunities, challenges and threats of global pediatric interventional cardiology market.
- Provide revenues of major players of the market such as GE Healthcare, Siemens Healthcare and Medtronic Inc.
- Provide you various regulatory policies which affect the global pediatric interventional cardiology market.
How we are different from others:
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global pediatric interventional cardiology market offers the longest chain of market segmentation covering major market segmentation based on products, closure devices and imaging techniques. The report tracks the major market trends in the global Pediatric interventional cardiology market such as rising population base of pediatric patients and continuous development for minimally invasive devices. For each market segments covered in global pediatric interventional cardiology market report, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the pediatric interventional cardiology industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360-degree analysis, See Saw analysis, and Porter five force model and so on. For the high-level analysis in the report we provide a comparative analysis of historic and current year data.
Key findings of the global pediatric interventional cardiology market:
- The rising incidents of inherited heart situation among pediatric patientsfueling growth in global pediatric interventional cardiology market.
- North America had the largest revenue share in 2016.
- ASD (ArtialSeptal Defect), PFO (Patent Foreman Ovale) and VSD (VentricalSeptal Defect) based on closure device segment is the dominating market due to rising demand for these devices.
- Product launch is the key strategy adopted by the various market players of global pediatric interventional cardiology market.