By Infinium Global Research Aug, 2020
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. The growing 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 hospitals 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.
The report on Global
Pediatric Medical Devices Market covers segments such as product and
end user. The report provides regional analysis covering geographies such as
North America, Europe, Asia-Pacific, and Rest of the World In this section, the
key trends and market size for each geography are provided over the period of
2016-2024. The report provides profiles of the companies in the global 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.