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A recent report published by Infinium Global Research on pediatric medical devices market provides an in-depth analysis of segments and sub-segments in the global as well as a regional pediatric medical devices market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional pediatric medical devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global pediatric medical devices market. According to the report the global pediatric medical devices market is projected to grow at a CAGR of 5.2% over the forecast period of 2018-2024.
Pediatric medical devices are
used to treat or diagnose diseases related to a pediatric group such as
neonates, infants, children, and adolescents. They include devices such as
mechanical ventilators, cardiorespiratory monitor, transcutaneous oxygen/carbon
dioxide monitor, and continuous positive airway pressure tubes for medical
care. These medical unit offers parental care and protection for high-risk
newborn infants. Medical devices are now been specially designed for the
pediatrics as the medical devices may not be suitable for the infants.
The growing the prevalence of
chronic diseases among the pediatric population is the major factor driving the
growth of the pediatric medical devices market. Asthma, food allergies, type 1
diabetes and neurodevelopmental illness are steadily increasing among
children. In the United States, 43% of children are affected by chronic
illness. In addition, increasing demand for neonatal intensive care units owing
to growth in the preterm birth rates promotes the growth of the market.
According to the centers for disease control and prevention, the premature
birth rate was 9.93 percent of births in 2017. Furthermore, the rising number
of initiatives taken by the regulatory organization and increasing pediatric
hospital over the globe are supporting market growth. Going further, government
initiatives for incentivizing manufacturers, streamlining the regulatory
process, looking for new funding sources are the factors contributing to market
growth. However, the lack of proper healthcare facilities and low awareness
about the medical devices designed for the infants is anticipated to hamper the
growth of the market. Moreover, the widespread adoption of telemedicine in
pediatric healthcare is anticipated to create fruitful opportunities for the
growth of the pediatric medical devices market.
Among the region, North America
has the largest market share in the pediatric medical devices market followed
by Europe. Government and regulatory bodies are taking initiatives to fund and
streamline the regulatory process for the development of pediatric medical
devices are boosting the growth in the pediatric medical devices market. The Asia-Pacific is expected to have a steady growth in this market owing to the
rising awareness regarding child health, an increasing number of the initiative
taken by the government and improvising healthcare infrastructure.
The report on global pediatric
medical devices market covers segments such as product and end user. On the
basis of product, the global pediatric medical devices market is categorized
into in vitro diagnostic (IVD) devices, diagnostic imaging devices, telemedicine,
anesthesia and respiratory care devices, neonatal ICU devices, cardiology
devices, monitoring devices, and others. On the basis of an end user the
global pediatric medical devices market is categorized into hospitals,
ambulatory care setting, pediatric clinics, and research institutes and
academic medical centers.
The countries covered in the
North America region include the U.S., Canada, and Mexico; while Asia-Pacific
includes China, Japan, India, South Korea, Malaysia, and among others.
Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the
European region. The U.S. drives the growth in the North America region as it
is the largest market in the region. The Asia-Pacific region offers a substantial
potential for the market growth owing to rapid growth in markets such as India
and China. The APAC region is projected to experience a growth at a CAGR of
x.x% over the period of 2018-2024.
The report provides profiles of
the companies in the global pediatric medical devices market such as Boston
Scientific Corporation, Abbott Laboratories, Medtronic plc, Stryker
Corporation, Koninklijke Philips N.V., Siemens Healthineers, Johnson &
Johnson, GE Healthcare, Cardinal Health and Baxter International, Inc.
The report provides deep insights
into demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the global pediatric medical devices market. Moreover, IGR-Growth
Matrix analysis given in the report brings an insight into the investment areas
that existing or new market players can consider. The report provides insights
into the market using analytical tools such as Porter's five forces analysis
and DRO analysis of pediatric medical devices market. Moreover, the study
highlights current market trends and provides forecast from 2018-2024. We also
have highlighted future trends in the pediatric medical devices market that
will impact the demand during the forecast period. Moreover, the competitive
analysis given in each regional market brings an insight into the market share
of the leading players. This report will help manufacturers, suppliers, and
distributors of the pediatric medical devices market to understand the present
and future trends in this market and formulate their strategies accordingly.
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