Key Players in the Pediatric Interventional Cardiology Market are Focusing on Innovation and Acquisitions to Combat the Stiff Competition
The global pediatric interventional cardiology market is a technology-driven market. Over the years, the technologies used as well as their adoption by hospitals, cardiologists, and pediatricians have witnessed a rapid change. The market demands significant investments in R&D in order to constantly come up with new innovative products and technologies. Through the development of innovative products, the players in the pediatric interventional cardiology market compete against each other in order to enhance their market shares.
Acquisitions and investment in R&D are the key growth strategies adopted by major players in order to ensure their growth in this market. Major market players such as Medtronic, St. Jude, W.L Gore, and Edwards Lifesciences focus on both organic and inorganic growth. Medtronic acquired CoreValve, Inc. to enhance its product portfolio and market position. St. Jude Medical acquired AGA Medical, which helped it to become a clear leader in the structural heart defect closure devices market. Similarly, W.L Gore acquired NMT Medical, to augment its structural heart defect devices product portfolio.
A number of small and medium-sized emerging players as well as large players are present in the global pediatric interventional cardiology market. The degree of competiveness amongst these players ranges from medium to high. Moreover, many new players are entering in this market, which is increasing the level of competition. At the same time, existing players are focusing on increasing their product differentiation to reduce competition and maintain their market share.
St. Jude Medical is the market leader in the structural heart defect closure devices market. It includes atrial septal defect closure devices (ASD), ventricular septal defect closure devices (VSD), patent foramen ovale (PFO) closure devices, patent ductus arteriosus (PDA) closure devices, and left atrial appendage (LAA) closure devices. The company offers a wide range of structural heart defect closure devices and has a strong presence across the globe. The company has its direct sales force and distributors present in various regions, such as the U.S., Europe, and Asia-Pacific, which helps it to market its product across the globe.
As of 2012, the global transcatheter heart valve market was dominated by Edwards Lifesciences. The company constantly strives to develop innovative products to maintain its market share. Edwards also invests significantly in the development of new transcatheter valves, such as the Edwards Centera. The company possesses very strong intellectual property rights, which has helped it to maintain its leading position in the market.
Related Reports:
Pediatric Interventional Cardiology Market By Congenital Heart Defect Closure Device [ASD, Ventricular Septal Defect, Patent Ductus Arteriosus, Left Atrial Appendage, Aortic Valve, Pulmonary Valve] & Procedures – Global Forecasts to 2018
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