Global Pediatric Mechanical Heart Valve Market Size Analysis
Aortic valve disease is highly prevalent among geriatrics population, however, pediatric population is also witnessing this severe disease. It can be congenital or may be acquired later in life. While there are wide range of heart valve systems are available in the market, very less has been done when it comes to pediatric.
Recent technological advancement has led to companies developing small mechanical heart valve needed for pediatric patients. These product launch will fulfil the prevailing gap and thereby create higher incremental opportunity for industry players. Global pediatric mechanical heart valve market is expected to register a CAGR of 11.9% to create high revenue opportunity for industry players.
This is a revolutionizing change as larger-sized valves are not suitable for pediatric patients with smaller heart size. As such, companies are investing heavily in product development catering specifically to children with small heart shape.
Globally, Congenital heart defects (CHD) affects over 1.8% of birth annually. The percent ratio is high in Latin America and Asia Pacific. This equates to higher addressable patients looking for better treatment. Advent of pediatric mechanical heart valve has certainly led to better treatment options and thus will register upward trajectory growth during the forecast period.
Global Pediatric Mechanical Heart Valve Market Analysis, By Population Group
Sales of mechanical heart valve will be highest in school age group (6-12) followed by adolescents and infants group. Much of such issues were noticed in school age group.
Global Pediatric Mechanical Heart Valve Market Size and Forecast: Regional Analysis
Globally, North America will dominate the global share with over 80% of market share. This will however, will decline to less than 63% by 2028. This is primarily attributed to the fact that it is newly introduced product in the market and will take time to go through CE approval. Skilled healthcare personnel will be required to handle the patient cases. As such, initially, companies will be generating much of its sales through U.S. market.
Global Pediatric Mechanical Heart Valve Market Size and Forecast: Competition Landscape
Recently, in 2018, Abbott received USFDA approval for its product – Masters HP™ 15mm rotatable mechanical heart valve – to treat toddlers in need of aortic replacement valve. Abbott is expected to register impressive growth in its sales revenue with the commercialization of the product. Similar such product will be available in the market in near future.
Pediatric Mechanical Heart Valve Market Industry Segmentation
- School Age
- Special Clinics
- Ambulatory Surgical Units
What Will You Discover in the Report?
- An in-depth analysis of the Pediatric Mechanical Heart Valve market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the Pediatric Mechanical Heart Valve market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the Pediatric Mechanical Heart Valve market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the Pediatric Mechanical Heart Valve industry during the forecast period
- Who are the Pediatric Mechanical Heart Valve industry leaders and what are the key initiatives taken by them for long term growth
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