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The Global Heart Valves Market size in Pediatric Patients is estimated to grow by USD 1,020 million, at a CAGR of 9.7% between 2023 and 2028.
Heart valves have been developed significantly over the years with a tissue engineering approach. Conventional mechanical and prosthetic heart valve replacements are associated with limitations including valve degeneration and calcification and the requirement of lifelong anticoagulation medication, resulting in an increased risk of haemorrhages. Moreover, the currently available prosthetic valves, including cryopreserved donor valves, are non-living structures that do not adapt to functional demand changes, thereby limiting durability in comparison with a viable valve replacement. Therefore, pediatric patients are at high risk for valve-related morbidity issues. In addition, tissue engineering is usually performed using in-vitro and in-situ approaches, and tissue heart valves are typically made from bovine or porcelain material. Hence, such factors are positively impacting the market.
Technavio has segmented the market into Product, Type, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
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The heart valve replacement devices segment is estimated to witness significant growth during the forecast period. Heart valve replacement devices segment are crucial components in the field of cardiovascular medicine, especially for pediatric patients facing congenital or acquired heart valve disorders. In addition, these medical devices serve the fundamental purpose of replacing a damaged or dysfunctional heart valve with an artificial substitute.
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The heart valve replacement devices were the largest segment and were valued at USD 650.00 million in 2018. Moreover, there are two primary types of heart valve replacement devices: pediatric mechanical heart valves and biological or tissue valves. In addition, pediatric mechanical heart valves are constructed from durable materials such as metal. Furthermore, while these valves exhibit excellent longevity and durability, they may necessitate patients to take blood-thinning medications to prevent clot formation. In addition, mechanical valves are known for their robustness and resilience, making them suitable for long-term use in certain patient populations. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
The aortic valve segment is responsible for regulating blood flow from the left ventricle to the aorta. In addition, any dysfunction of the aortic valve can profoundly impact the cardiovascular health of pediatric individuals. Moreover, aortic valve stenosis denotes the constriction of the heart aortic valve, positioned between the left ventricle cardiac chamber propelling blood to the body- and the aorta, the primary vessel circulating blood throughout the body. In cases of pediatric aortic valve stenosis, the valve constituent leaflets become entangled, impeding complete separation. Moreover, the development of biocompatible and durable prosthetic valves ensures a longer-lasting impact on the overall health and well-being of pediatric patients. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
The pulmonary valve segment is one of the four valves regulating blood flow within the heart, it is situated between the right ventricle, the lower chamber on the right side of the heart, and the pulmonary artery, which transports blood to the lungs. In addition, when the pulmonary valve is afflicted with disease or damage, it can disrupt the normal blood flow from the heart to the lungs. Moreover, both pulmonary valve repair and replacement procedures are viable options to enhance blood circulation and alleviate symptoms associated with heart valve disease. In addition, transcatheter pulmonary valve devices are medical devices designed to treat conditions related to the pulmonary valve within the heart through a minimally invasive procedure known as transcatheter intervention. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The North American region, including the US and Canada, holds a prominent position in the pediatric mechanical heart valve market in pediatric patients. In addition, with a highly developed healthcare infrastructure and significant investments in medical research and technology, North America plays a crucial role in shaping the landscape of pediatric cardiac care.
Moreover, the US, in particular, boasts advanced medical facilities, renowned pediatric cardiology centers, and a robust regulatory framework that fosters innovation in medical devices. In addition, the presence of key vendors in the region is further expected to drive the growth of the regional market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 14 market companies, including:
Abbott Laboratories: The company offers pediatric heart valve such as Masters HP 15mm rotatable mechanical heart valve.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
The rising incidence of congenital heart defects (CHDs) among pediatrics is notably driving the market growth. CHDs can be referred to as abnormalities present at birth that can severely impact the structure and function of a baby's heart. In addition, these defects can involve the heart valves, walls, arteries, or veins, and they vary in severity. Furthermore, they represent the most prevalent type of birth defect, affecting approximately 40,000 infants annually.
Moreover, in the US, it is estimated that over two million individuals, spanning infants to adults, are living with CHDs. In addition, many CHD patients undergo early-life heart procedures to enhance blood flow to the lungs. Furthermore, several pulmonary valve regurgitations can necessitate corrective measures, often involving open-heart surgery to implant a right ventricle-pulmonary artery conduit or an artificial valve. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the heart valve market in pediatric patients growth is the increasing focus on the development of minimally invasive solutions. Minimally invasive procedures, including transcatheter heart valve replacements, have become a focal point for companies in the market. In addition, these techniques involve the insertion of heart valves through catheters, often accessed through blood vessels, eliminating the need for open-chest procedures.
Moreover, the advantages of such minimally invasive approaches include reduced trauma, quicker recovery, and a lower risk of complications, which are particularly crucial considerations in the delicate context of pediatric cardiac interventions. Furthermore, companies are investing significantly in research and development to refine and advance minimally invasive technologies specifically tailored for pediatric patients. Hence, such factors are driving the market growth during the forecast period.
The increasing shortage of skilled medical professionals is one of the key challenges hindering the heart valve market in pediatric patients market growth. As the demand for specialized care for pediatric heart conditions continues to increase, the scarcity of skilled healthcare professionals, such as pediatric cardiologists and cardiac surgeons, becomes a critical bottleneck. In addition, one major aspect of this challenge lies in the specialized expertise required to address the unique needs of pediatric patients with heart valve conditions.
Moreover, pediatric cardiology involves intricate knowledge of the developing cardiovascular system, and surgical interventions demand a high level of precision and expertise. In addition, the shortage of skilled professionals in these fields can lead to delays in diagnosis, inadequate treatment, and suboptimal outcomes for pediatric patients. Hence, such factors are hindering the market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Heart Valves Market in Pediatric Patients Customer Landscape
The heart valves market in pediatric patients report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Heart Valves Market in Pediatric Patients Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.7% |
Market Growth 2024-2028 |
USD 1,020 million |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
9.23 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 38% |
Key countries |
US, Canada, UK, Japan, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Artivion Inc., Boston Scientific Corp., Braile Biomedica, Colibri Heart Valve LLC, Edwards Lifesciences Corp., JenaValve Technology Inc., Lepu Medical Technology Beijing Co. Ltd., LivaNova Plc, Massachusetts Institute of Technology, Medtronic Plc, Shockwave Medical Inc., TTK Healthcare Ltd., and Xeltis AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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