July 18, 2024

Global Pediatric Heart Valve Repair and Replacement Market’s trajectory points to an impressive US$ 4,490.5 Million valuation by 2034

Pediatric Heart Valve Repair and Replacement Market

Pediatric Heart Valve Repair and Replacement Market

As per the latest analysis, 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.

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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.

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 Market Study:

  • The global pediatric heart valve repair and replacement market size is set to reach US$ 4,490.5 million in 2034.
  • Based on product, the bioprosthetic heart valves segment accounted for a value share of 40.5% in 2023.
  • By indication, the congenital heart defects segment held a market share of 37.9% in 2023.
  • By end-user, the hospital segment is forecast to expand at a 1.8% CAGR through 2034.
  • North America dominates the global market, holding a value share of 35.9%.
  • Demand in India is anticipated to rise at a 5.6% CAGR between 2024 and 2034.
  • China is set to register a CAGR of 4.5% through 2034.

“Increasing incidence of heart defects in newborns and requirement of necessary development to address unmet medical needs is responsible for the growth of the pediatric heart valve repair and replacement market,” says an analyst of Future Market Insights (FMI).

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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.

Key Companies Profiled:

  • The Charles Stark Draper Laboratory, Inc.
  • Medtronic
  • Abbott
  • CryoLife
  • Edwards Lifesciences Corporation
  • Venus MedTech

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 Pacific
  • Western Europe
  • Eastern Europe
  • Middle East and Africa

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Author 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.

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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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