The latest research study “Pediatric Medical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the Global Pediatric Medical Devices Market size reached US$ 32.44 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 54.74 Billion by 2027 exhibiting a CAGR of 8.60% during 2022-2027.
Pediatric medical devices are equipment used to diagnose diseases and conditions in children from birth to 21 years of age. They are primarily used to diagnose respiratory, pulmonary, and cardiac arrests. These devices and tools are designed in a way that suits children’s body structures and functions. The main categories of pediatric medical devices are respiratory care, in-vitro diagnostic (IVD), monitoring, cardiology, and neonatal ICU devices. The most commonly used pediatric devices include mechanical ventilators, cardiorespiratory monitors, baby thermometers, and transcutaneous oxygen or carbon dioxide monitors.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Pediatric Medical Devices Trends and Drivers:
One of the primary factors driving the market is the growing prevalence of infectious and chronic diseases, such as pneumonia, tuberculosis, asthma, chickenpox, anemia, mumps, whooping cough, measles, leukemia, and Lyme disease, among the pediatric population.
Additionally, these diseases have led to a significant rise in the demand for advanced technologies to accurately diagnosis such conditions, thereby contributing to the market growth. Other than this, the escalating demand for 3D medical imaging equipment in pediatric radiology and the rising preterm birth rates are creating a positive market outlook. Furthermore, numerous technological advancements and the extensive adoption of portable devices for home healthcare services are accelerating the product adoption rate.
Moreover, various initiatives undertaken by governments of several nations, the introduction of favorable medical reimbursement programs, and the growing investments in research and development (R&D) activities by various key players are some other factors contributing to the market growth.
|Pediatric Medical Devices Market Report Scope|
|Market size value in 2021||US$ 32.44 Billion|
|Market forecast in 2027||US$ 54.74 Billion|
|Growth Rate||CAGR of 8.60% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Product and End user|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Key companies profiled||Abbott Laboratories, Atom Medical Corporation, Baxter International Inc., Cardinal Health Inc., Fritz Stephan GmbH, General Electric Company, Hamilton Medical (Hamilton Company), Koninklijke Philips N.V., Medtronic plc, Siemens AG and Stryker Corporation.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for 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.|
The report has been segmented the market into following categories:
Breakup by Product:
- IVD Devices
- Cardiology Devices
- Anesthesia and Respiratory Care Devices
- Neonatal ICU Devices
- Monitoring Devices
- Diagnostic Imaging Devices
Breakup by End User:
- Diagnostic Laboratories
- Pediatric Clinics
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- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
List of Major Key Players:
The major players in the market are Abbott Laboratories, Atom Medical Corporation, Baxter International Inc., Cardinal Health Inc., Fritz Stephan GmbH, General Electric Company, Hamilton Medical (Hamilton Company), Koninklijke Philips N.V., Medtronic plc, Siemens AG and Stryker Corporation.
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