Pediatric Medical Devices Market Size to Rake US$ 41.5 billion by 2027

Pediatric Medical Devices Market (By Product – IVD Devices, Cardiology Devices, Diagnostic Imaging Devices, Monitoring Devices, Telemedicine; End use) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2021 – 2027

The pediatric medical devices market size is predicted to hit around US$ 41.5 billion by 2027  and is expected to grow at a compound annual growth rate (CAGR) of 8.5% from 2021 to 2027.

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Rise in prevalence of chronic diseases such as diabetes, cardiovascular diseases, and others drive the global market. Moreover, surge in demand for self-care devices/solutions, increase in incidence of chronic and infectious diseases among pediatric population, and technological developments are expected to propel demand for pediatric medical devices used to treat chronic conditions.

Rise in Chronic Conditions to Augment Market

Prevalence of chronic health disorders is rising among children. A report published by the Pediatric Academic Societies in 2016 stated that these chronic conditions are most common among children who live in or near poverty. The report found substantial increase in attention deficit hyperactivity disorder (ADHD) and asthma among children living in poverty, as compared to their comfortable counterparts.

North America Dominated the Market

North America accounts for the leading share of the global pediatric medical devices market, primarily due to its large patient population and increase in disease awareness among children and adults.

Asia Pacific is an untapped market as compared to the developed regions. Hence, the region presents better opportunities in the pediatric medical devices market. China and India are the most populous countries in the world and have the largest pediatric population, with high number of cancer and infectious disease patients. 

Abbott Laboratories, Medtronic plc, and GE Healthcare to Lead Market

The report also provides profiles of leading players operating in the global pediatric medical devices market. These include Abbott Laboratories, Boston Scientific Corporation, Baxter International, Inc., Medtronic plc, Cardinal Health, Inc., F. Hoffmann-La Roche Ltd., GE Healthcare, Johnson & Johnson, Siemens Healthineers, Koninklijke Philips N.V., and Stryker Corporation.

Market Segmentation

By Product

In Vitro Diagnostic (IVD) Devices
Cardiology Devices
Diagnostic Imaging Devices
Anesthesia & Respiratory Care Devices
Neonatal ICU Devices
Monitoring Devices
Telemedicine
Home-use Medical Devices

By End-user

Hospitals
Diagnostic Laboratories
Ambulatory Surgical Centers
Others

By Geography

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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