Pediatric Interventional Cardiology Market: Overview
Interventional cardiology incorporates catheter based treatments for cardiac disorders and is performed by certified interventional cardiologists. Majority of the interventional cardiology procedures are considered to be minimally invasive as these do not involve the use of multiple instruments to enter the body or large incisions (open surgeries). These procedures involve the use of catheters inserted into femoral artery in the upper leg. Real time x-ray is used to guide the catheter towards heart or vascular area. There are several advantages of interventional cardiological procedures such as low risk of infection, short postoperative recovery times and avoidance of large scars.
Pediatric Interventional Cardiology Market: Trends and Opportunities
Cardiac catheterization, percutaneous valve repair, balloon valvuloplasty, embolic protection, use of stents, and atherectomy are some of the types of the interventional cardiology procedures. Disorders such as coronary artery disease, heart valve disorder and peripheral artery disorders are some of the conditions treated with the help of interventional cardiology procedures. Interventional treatment plans are recommended on a patient-by-patient basis and there are certain risks associated with interventional procedures. For instance, during angioplasty a patient may have a heart attack, coronary arteries can be damaged during the procedure and these can also lead to kidney damage and brain strokes. Complications of these procedures are blood clots, restenosis and bleeding.
Cardiac catheterization procedures are instrumental in providing care for the pediatrics with congenital heart defects. Initially these procedures were performed as diagnostics that helped determine hemodynamic information and identify child’s heart defects. However, advances in technology have altered the focus of cardiac catheterization procedures from diagnosis to treatment. Technological sophistication in devices such as catheters, balloons, stents and cardiac catheterization equipment and development of echocardiography to diagnose heart defects further support the use of these devices in enhancing the benefits of interventional cardiology procedures in children.
Pediatric interventional cardiology market exhibits immense growth potential majorly due to increasing pediatric patient base and huge unmet needs of the same.
Pediatric Interventional Cardiology Market: Segmentation
The market for pediatric interventional cardiology can be analyzed on the basis of several heart disease valve closure devices along with transcatheter heart valves and others. Heart closure devices comprises atrial septal defect and ventricular septal defect closure devices, transcatheter valves are further categorized into transcatheter pulmonary and aortic valves. Angioplasty balloons, catheters, guidewires and catheters represent other interventional cardiology devices.
The geographical landscape of the market includes the analysis for four major geographies namely Asia-Pacific, North America, Europe and RoW. North America and Europe would account for the largest market shares, attributed to presence of technologically advanced healthcare infrastructure and increasing preference for minimally invasive procedures for correction of heart defects. However, with the increasing patient base and lucrative business opportunities in the emerging economies such as India and China would increase the growth of the market in these regions in near future.
Pediatric Interventional Cardiology Market: Drivers and Restraints
The factors influencing the growth of the market are continuous technological advances coupled with high degree of adoption of advanced technologies. In addition, increasing preference for minimally invasive procedures, increased investments in R&D by the market players towards development of novel devices and increased affordability of patients’ further fuel the growth of the market. On the other hand high cost of these procedures and presence of limited resources for effective diagnosis of heart defects might hamper the growth of the market.
Furthermore, focus on development of biodegradable interventional cardiology devices along with impressive growth and uptake of transcatheter heart valves would provide lucrative growth prospects for the established and emerging players in this market. St. Jude Medical, Abbott Vascular, Cordis Corporation, GE Healthcare, Medtronic, Inc., Boston Scientific Corporation and are some of the key players competing in this market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.