PUBLISHER: The Business Research Company | PRODUCT CODE: 1509614
PUBLISHER: The Business Research Company | PRODUCT CODE: 1509614
Congenital heart disease (CHD) encompasses a spectrum of birth defects affecting the structure and function of the heart present at birth. These defects may involve abnormalities in the heart walls, valves, arteries, and veins near the heart. Treatment for CHD varies depending on the type and severity of the defect and may include medications, catheter-based interventions, open-heart surgery, or heart transplantation.
The primary types of congenital heart disease (CHD) include heart valve defects, heart wall defects, blood vessel defects, and others. Heart valve defects entail abnormalities or malfunctions in the heart valves, which regulate blood flow within the heart. Diagnosis methods may include electrocardiograms, chest X-rays, echocardiograms, transesophageal echocardiograms, pulse oximetry, exercise stress tests, cardiac computed tomography (CT) scans, magnetic resonance imaging (MRI), cardiac catheterization, among others. Treatment options range from interventional cardiology procedures to cardiac surgery, medication management, telemedicine, and lifestyle modifications. CHD affects individuals across all age groups, including infants, children, adolescents, and adults, who receive treatment in hospitals, clinics, diagnostic centers, ambulatory surgical centers, and research and academic institutions.
The congenital heart disease market research report is one of a series of new reports from The Business Research Company that provides congenital heart disease market statistics, including congenital heart disease industry global market size, regional shares, competitors with a congenital heart disease market share, detailed congenital heart disease market segments, market trends and opportunities, and any further data you may need to thrive in the congenital heart disease industry. This congenital heart disease market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The congenital heart disease (CHD) market size has grown strongly in recent years. It will grow from $4.03 billion in 2023 to $4.42 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth observed during the historic period can be attributed to several factors, including the increased prevalence of risk factors such as obesity and smoking, advancements in diagnostic technologies leading to improved detection rates, a growing geriatric population, heightened awareness campaigns raising public consciousness about congenital heart disease (CHD), improved reimbursement policies facilitating access to healthcare services, and increased investment in research and development aimed at better understanding and treating CHD.
The congenital heart disease (CHD) market size is expected to see strong growth in the next few years. It will grow to $6.43 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The anticipated growth in the forecast period can be attributed to several factors, including the expansion of access to healthcare services in developing regions, ongoing innovations in cardiac imaging technologies, increased awareness campaigns advocating for early detection and treatment, rising global healthcare expenditure, and the advancement of personalized medicine. Furthermore, major trends expected in the forecast period encompass the adoption of minimally invasive surgical techniques, the growing utilization of telemedicine for remote patient monitoring and consultations, an increasing demand for personalized treatment approaches, the development of innovative implantable devices with improved functionality and longevity, as well as the integration of artificial intelligence and machine learning into diagnostic and therapeutic processes.
The surge in maternal diabetes cases, specifically gestational diabetes mellitus (GDM), is anticipated to drive the growth of the congenital heart disease (CHD) market. Maternal diabetes, arising during pregnancy in women without pre-existing diabetes, is attributed to lifestyle changes such as sedentary behavior, unhealthy dietary habits, and increasing obesity rates among women of childbearing age. Maternal diabetes poses a risk of congenital heart disease (CHD) in infants due to elevated blood sugar levels impacting fetal heart development. The heightened glucose levels in the mother's bloodstream can disrupt normal fetal heart development, escalating the risk of CHD. For example, in January 2023, the Centers for Disease Control and Prevention reported an increase in the percentage of pregnant mothers diagnosed with gestational diabetes to 8.3% in 2021 from 6.0% in the preceding five years. Consequently, the rise in maternal diabetes cases is propelling the expansion of the congenital heart disease (CHD) market.
Key players in the congenital heart disease market are innovating non-surgical heart valves to enhance patient outcomes and quality of life. Non-surgical heart valves, also known as transcatheters, are medical devices treating heart valve diseases without conventional open-heart surgery. For instance, in February 2023, Medtronic, a US-based medical technology company, reintroduced its Harmony Transcatheter Pulmonary Valve (TPV) System. This system, a minimally invasive alternative to open-heart surgery, addresses patients with congenital heart disease, particularly those with native or surgically repaired right ventricular outflow tract (RVOT) anomalies. It stands as the first FDA-approved valve designed for the right side, offering a non-surgical solution for severe pulmonary valve regurgitation patients. The Harmony TPV System received U.S. FDA approval in 2021 and was reintroduced following a voluntary recall, underscoring Medtronic's dedication to advancing solutions for congenital heart disease patients.
In December 2021, Venus MedTech HangZhou Inc., a China-based medical device company, acquired Cardiovalve Ltd. for $300 million. This strategic acquisition bolsters Venus MedTech's presence in mitral and tricuspid valve replacement, positioning it as a comprehensive platform company and unlocking opportunities for innovation and international expansion. Cardiovalve Ltd., based in Israel, specializes in transcatheter mitral and tricuspid valve treatments, manufacturing heart valves for cardiac surgery.
Major companies operating in the congenital heart disease (CHD) market are Pfizer Inc., AstraZeneca Plc, Abbott Laboratories, Novartis AG, Medtronic, Siemens Healthineers, Philips Healthcare, Roche Diagnostics International Ltd., Boston Scientific Corp., Laboratory Corporation of America Holdings (LabCorp), Terumo Corporation, Mindray Medical International Limited, Canon Medical Systems Corporation, Masimo Corporation, Neusoft Corp., Carestream Health, Midmark Corporation, Contec Medical Systems, Randox Laboratories Ltd., Schiller AG, BPL Medical Technologies, Compumedics Limited, Biocare Medical, Bionet America Inc., Nasan Medical Electronics Pvt Ltd
North America was the largest region in the congenital heart disease (CHD) market in 2023. The regions covered in the congenital heart disease (CHD) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the congenital heart disease (CHD) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The congenital heart disease (CHD) market consists of revenues earned by entities by providing services such as medical consultations, diagnostic tests, and support services. The market value includes the value of related goods sold by the service provider or included within the service offering. The congenital heart disease (CHD) market also includes sales of cardiac implants such as pacemakers, implantable cardioverter-defibrillators (ICDs), and ventricular assist devices (VADs). Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Congenital Heart Disease (CHD) Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on congenital heart disease (CHD) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for congenital heart disease (CHD)? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The congenital heart disease (CHD) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.