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Global Pediatric Medical Devices Market is expected to grow at a CAGR of 8.32% over the Forecast Period of 2018 – 2024

Infograph - Global Pediatric Medical Devices Market

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.

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