Pediatric Heart Valve Repair and Replacement Market to Witness 2.7% CAGR, Reaching US$ 4,490.5 Million by 2034 | Future Market Insights, Inc.
The surging popularity of minimally invasive pediatric heart surgery and the high adoption of bioprosthetic valves are key trends in the pediatric heart valve repair and replacement market. The United States is expected to lead the pediatric heart valve repair and replacement market with a 34.7% share, showcasing its dominance globally.
NEWARK, Del, Dec. 19, 2023 (GLOBE NEWSWIRE) -- The global pediatric heart valve repair and replacement market value is estimated to reach US$ 3,440.6 million in 2024. Over the forecast period, pediatric heart valve repair and replacement demand is poised to expand at a CAGR of 2.7%. By 2034, the total market valuation is expected to reach US$ 4,490.5 million.
Several factors are anticipated to stimulate the growth of the pediatric heart valve repair and replacement industry. These include the rising prevalence of heart defects in neonates, especially congenital heart defects, and the growing popularity of minimally invasive procedures.
Congenital heart defects (CHD) represent a significant global health concern, affecting around 1% of annual births in the United States. They are a leading cause of infant mortality linked to birth defects.
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The Pediatric Cardiomyopathy Registry estimates the incidence of hypertrophic cardiomyopathy at 5 per 1 million children, with an overall prevalence of less than 0.2% in the general population. In India, the reported prevalence of CHD ranges from 8 to 10 out of every 1,000 live births, contributing to about one-fourth of all congenital malformations and 10% of infant mortality.
The alarming statistics underscore the growing challenge of congenital heart defects in newborns, necessitating increased attention and resources for effective management. This is expected to uplift the demand for pediatric valve repair and replacements during the forecast period.
The variability in prevalence across different regions and settings emphasizes the need for a comprehensive approach to address this public health issue. The rising incidence of CHD not only poses a significant health burden but also serves as a driving force for advancements in pediatric cardiac care, particularly in the field of pediatric heart valve repair and replacement.
As the prevalence of congenital heart defects continues to rise globally, it highlights the imperative for ongoing research, technological innovation, and the development of advanced treatment modalities. The pediatric heart valve repair and replacement market, in particular, stands as a crucial arena for addressing the evolving needs of infants with complex cardiac conditions, offering hope and improved outcomes for this vulnerable patient population.
Key Takeaways from the Pediatric Heart Valve Repair and Replacement Market Report:
The global pediatric heart valve repair and replacement market size is set to reach US$ 4,490.5 million in 2034.
Based on the product, the bioprosthetic heart valve segment accounted for a value share of 5% in 2023.
By indication, the congenital heart defects segment held a market share of 9% in 2023.
By end-user, the hospital segment is forecast to expand at an 8% CAGR through 2034.
North America dominates the global market, holding a value share of 9%.
Demand in India is anticipated to rise at a 6% CAGR between 2024 and 2034.
China is set to register a CAGR of 4.5% through 2034.
"The pediatric heart valve repair and replacement market continues to exhibit promising growth, with an increasing prevalence of congenital heart defects in the pediatric population, the demand for advanced and innovative solutions for heart valve interventions is on the rise. Our findings underscore the pivotal role of cutting-edge technologies and ongoing research efforts in shaping the landscape of pediatric cardiac care, offering a profound impact on the market's trajectory." - says Sabyasachi Ghosh Associate Vice President at Future Market Insights, Inc.
Scope of Report:
Attribute | Details |
Estimated Market Value (2024) | US$ 3,440.6 million |
Projected Market Size (2034) | US$ 4,490.5 million |
Anticipated Growth Rate (2024 to 2034) | 2.7% CAGR |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | US$ million for Value |
Key Regions Covered | North America, Latin America, East Asia, South Asia and Pacific, Eastern Europe, Western Europe, Middle East and Africa |
Key Countries Covered | United States, Canada, Mexico, Brazil, Chile, Rest of Latin America, China, Japan, South Korea, Germany, France, Spain, Italy, BENELUX, Nordic Countries, United Kingdom, BENELUX, Rest of Western Europe, Russia, Poland, Hungary, Rest of Eastern Europe, India, Association of Southeast Asian Nations, Australia and New Zealand, Rest of South Asia and Pacific, Saudi Arabia, Other African Countries, South Africa, Türkiye and Rest of the Middle East and Africa |
Key Market Segments Covered | Product, Indication, End User, and Region |
Key Companies Profiled |
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Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
Market Competition:
Collaborating with other companies, research institutions, or technology providers, along with strategic product launches and regulatory approvals, significantly enhances a manufacturer's capabilities. These dynamic partnerships encompass joint ventures, licensing agreements, and collaborations aimed at developing and integrating complementary technologies into advanced and market-ready products.
Recent Development:
In 2023, Medtronic revealed the reintroduction of its Harmony transcatheter pulmonary valve system. It is a minimally invasive option for congenital heart disease patients with native or surgically repaired right ventricular outflow tract (RVOT). It provides an alternative to traditional open-heart surgery.
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Want More Insights?
Future Market Insights (FMI) offers a unique perspective and actionable insights on the pediatric heart valve repair and replacement market in its latest study, presenting a historical demand assessment of 2019 to 2023 and projections for 2024 to 2034. The global pediatric heart valve repair and replacement market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights into the pediatric heart valve repair and replacement market segment based on product (heart valve repair, mechanical heart valves, bioprosthetic heart valves, and transcatheter aortic valve implantation), indication (congenital heart defects, heart muscle disease, atresia, arrhythmias, and other cardiac disorders), and end-user (hospitals, independent cardiac catheterization labs, ambulatory surgical centers) across seven key regions.
Pediatric Heart Valve Repair and Replacement Market Segmentation:
By Product:
Heart Valve Repair
Mechanical Heart Valves
Bioprosthetic Heart Valves
Transcatheter Aortic Valve Implantation (TAVI)
By Indication:
Congenital Heart Defects
Heart Muscle Disease
Atresia
Arrhythmias
Other Cardiac Disorders
By End-user:
Hospitals
Independent Cardiac Catheterization Labs
Ambulatory Surgical Centers
By Region:
North America
Latin America
East Asia
South Asia and the Pacific
Western Europe
Eastern Europe
Middle East and Africa
Authored By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
Have a Look at the Related Reports of the Healthcare Domain:
Heart Closure Devices Market Analysis: The overall demand for the market is projected to grow at a CAGR of 14.9% between 2023 and 2033, totaling around US$ 10.88 Billion by 2033.
Pediatric Clinical Trials Market Overview: The global market is projected to grow steadily at a 5.3% value CAGR, during the forecast period 2022 to 2032 to reach a sum of US$ 26.47 Billion by 2032.
Prosthetic Heart Valve Market Forecast: The market is anticipated to advance rapidly. By 2033, it is expected to be valued at US$ 27,277.6 million at a CAGR of 7.5%
Heart Block Therapeutics Market Growth: The market is expected to reach a worth of about US$ 4.8 Billion by the end of 2032, with a projected CAGR of 4.3% from 2022 to 2032.
Transcatheter Heart Valve Replacement Market Share: The global sales of the market are anticipated to rise at a CAGR of 14.8% between 2023 and 2033, owing to the rising prevalence of various cardiovascular diseases and reach a valuation of around US$ 25.4 billion during the year 2033.
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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