SAN FRANCISCO, Feb. 14, 2023 /PRNewswire/ -- The global pediatric medical devices market size is expected to reach USD 51.9 billion by 2030, expanding at a CAGR of 7.8% over the forecast period, according to a new report by Grand View Research, Inc. The rising prevalence of chronic diseases among children such as asthma, cystic fibrosis, diabetes, epilepsy, and technological advancements in pediatric medical devices are the major growth-propelling factors for the market.
Key Industry Insights & Findings from the report:
- The anesthesia and respiratory care devices segment is expected to showcase the fastest CAGR over the forecast period as it is a commonly used product among children.
- In Vitro Diagnostic (IVD) Devices segment held the largest share as of 2022 owing to the accurate and error-free diagnostic through the product.
- The pediatric clinics segment is expected to showcase lucrative CAGR over the forecast period as these clinics are especially focused on children's care.
- The hospitals held the largest share as of 2022 owing to the high number of patient admission in the hospitals.
Read 110 page market research report, "Pediatric Medical Devices Market Size, Share & Trends Analysis Report By Product (Cardiology Devices, In Vitro Diagnostic (IVD) Devices, Diagnostic Imaging Devices), By End-user, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Pediatric Medical Devices Market Growth & Trends
Pediatric medical devices diagnose or treat diseases from birth through adolescence. The Federal Food, Drug, and Cosmetic Act consist of pediatric patients aged 21 or younger at the time of the treatment. In the U.S., the commercialization and development of pediatric medical devices lag significantly behind the medical devices for adults. In the last few years, only 24% of lifesaving medical devices have been approved by the FDA that can be used for childcare, and the majority of its users are 12 years and above.
The COVID-19 pandemic has put the medical device industry at the center with unparalleled demand for personal protective equipment, diagnostic tests, ventilators, and other critical medical supplies. However, the pediatric medical device industry is highly impacted by the substantial decrease in the number of surgeries, many of which are being cancelled or postponed so that hospitals and clinics can focus their resources on treating COVID-19 patients. The reopening of manufacturing units and supply-chain is expected to grow the market of pediatric medical devices.
The development and design of pediatric medical devices continue to be an exciting field. There are only a few pediatric devices than adult devices in the market which is forcing pediatric professionals to suggest alternative ways of treating children using devices mainly made for adults. Pediatric medical devices cover a wide range of indications and risks associated with child care. It also helps to reduce disease burden and improve the quality of life for many children.
Various innovation competitions took place to support new and advanced pediatric medical devices. For instance, since 2013, the "Make Your Medical Device Pitch for Kids" international competition has focused on supporting and identifying innovations that will make a substantial improvement in pediatric care.
Pediatric Medical Devices Market Segmentation
Grand View Research has segmented the global pediatric medical devices market based on product, end-user, and region:
Pediatric Medical Devices Market - Product Outlook (Revenue, USD Million, 2018 - 2030)
- Cardiology Devices
- In Vitro Diagnostic (IVD) Devices
- Diagnostic Imaging Devices
- Anesthesia & Respiratory Care Devices
- Neonatal ICU Devices
- Others
Pediatric Medical Devices Market - End-user Outlook (Revenue, USD Million, 2018 - 2030)
- Hospitals
- Pediatric Clinics
- Ambulatory Surgery Centers
- Others
Pediatric Medical Devices Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
List of Key Players in Pediatric Medical Devices Market
- TSE MEDICAL
- Ningbo David Medical Device Co. Ltd
- Hamilton Medical
- GE Healthcare
- Fritz Stephan GmbH
- Phoenix Medical Systems Pvt Ltd
- Novonate Inc.
- Trimpeks
- Atom Medical Corporation
- Abbott
- Medtronic PLC
Check out more related studies published by Grand View Research:
- Pediatric Catheters Market - The global pediatric catheters market size is expected to reach USD 9.6 billion in 2025, according to a report by Grand View Research, Inc., expanding at a CAGR of 9.3% over the forecast period. Key factors attributing to the growth include increase in the pediatric population, rise in congenital heart defects, neurological disorders, urinary tract infections, and lack of adequate new born screening centers in the emerging countries. The pediatric population requires specially designed catheters with smaller dimensions and advanced materials to avoid hospital acquired infections and improve patient compliance.
- Pediatric Home Healthcare Market - The global pediatric home healthcare market size is expected to reach USD 68.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.8% from 2021 to 2028. The growing population of Children with Medical Complexities (CMC) requiring in-home care is expected to drive the market during the forecast period.
- Pediatric Oral Care Market - The global pediatric oral care market size is expected to reach USD 15.5 billion by 2030, according to a new report by Grand View Research, Inc. It is likely to expand at a CAGR of 6.9% from 2022 to 2030. The growing problems of tooth decay, cavities, and dental diseases will lead to a surge in demand for pediatric oral care products.
Browse through Grand View Research's Medical Devices Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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