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Global Pediatric Medical Devices Market to Reach US$ 54.74 Billion by 2027, Bolstered by Increasing Prevalence of Chronic and Infectious Diseases

Published on Sep 19, 2022

The latest report by IMARC Group, titled “Global Pediatric Medical Devices Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global pediatric medical devices market size reached US$ 32.44 Billion in 2021. Pediatric medical devices refer to equipment used to treat or diagnose diseases and conditions in children from birth to age 21, primarily involving pulmonary, chronic respiratory, and cardiac disorders. Some of the commonly utilized pediatric medical devices include transcutaneous oxygen or carbon dioxide monitors, mechanical ventilators, continuous positive airway pressure tubes, cardiorespiratory monitors, and baby thermometers. These devices are specifically designed to suit the body structures and functions of children as they are younger and more active than adults. As a result, pediatric medical devices are extensively adopted across pediatric clinics, ambulatory surgery centers, hospitals, and research and academic institutes.

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.

Global Pediatric Medical Devices Market Trends:

The market is primarily driven by the rising prevalence of chronic and infectious diseases, such as chickenpox, mumps, pneumonia, tuberculosis, anemia, asthma, measles, whooping cough, Lyme disease, diphtheria, and leukemia among the pediatric population. This has resulted in increased demand for advanced technologies for accurate diagnosis of such conditions, which is contributing to market growth. In addition, the sudden outbreak of coronavirus disease (COVID-19) pandemic has escalated upper respiratory symptoms such as rhinitis, sneezing, nasal congestion, nausea, vomiting, and diarrhea among pediatric patients, which is accelerating the product adoption rate. Moreover, the surging usage of 3D medical imaging equipment in pediatric radiology and the increasing preterm birth rates are also contributing to market growth. Apart from this, various technological advancements and the widespread adoption of portable devices for home healthcare services are providing a positive thrust to market growth. Additionally, the implementation of favorable initiatives undertaken by the governments of various countries, such as the launch of attractive medical reimbursement programs, represents another major growth-inducing factor. Other factors, including the expanding pediatric hospitals across the globe and the rising awareness among parents about pediatric health, are creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 54.74 Billion by 2027, exhibiting a CAGR of 8.60% during the forecast period (2022-2027).

Market Summary:

  • Based on the product, the market has been classified into IVD devices, cardiology devices, anesthesia and respiratory care devices, neonatal ICU devices, monitoring devices, diagnostic imaging devices, telemedicine, and others.
  • On the basis of the end user, the market has been segmented into hospitals, diagnostic laboratories, pediatric clinics, and others.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), Middle East and Africa.
  • The competitive landscape of the industry has also been examined in the report, with some of the key players being 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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