Global Pediatric Medical Devices Market Growth Rate, Top Companies, Global Trends & Report 2023-2028

The latest report by IMARC Group, titled “Pediatric Medical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry. It also offers insights on pediatric medical devices market share, revenue, competitor and regional analysis and latest advancements in the market.

The global pediatric medical devices market size reached US$ 35.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 59.1 Billion by 2028, exhibiting a growth rate (CAGR) of 8.3% during 2023-2028.

Pediatric medical devices represent equipment that are used to diagnose and treat diseases and conditions in children from birth to the age of 21. Some of the most common products include transcutaneous oxygen or carbon dioxide monitors, baby thermometers, continuous positive airway pressure tubes, mechanical ventilators, etc. These pediatric medical devices are specifically designed in a manner suitable to the body structures and functions of children and can detect the early indications of major health issues such as stroke, obesity, hypertension, chronic liver disease, etc. Consequently, they find extensive applications in hospitals, diagnostic laboratories, and pediatric clinics, across the globe.

Global Pediatric Medical Devices Industry Trends and Drivers

The growing incidences of chronic and infectious diseases, including anemia, asthma, mumps, measles, chickenpox, pneumonia, tuberculosis, diphtheria, leukemia, whooping cough, Lyme disease, etc., among the pediatric population and the inflating demand for advanced technologies to ensure an accurate diagnosis of such ailments are primarily driving the pediatric medical devices market. Additionally, the elevating utilization of three-dimensional or 3D medical imaging equipment in pediatric radiology is also positively influencing the market growth.

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Besides this, the rising preterm birth rates are acting as another significant growth-inducing factor. Moreover, the escalating technological advancements and the development of portable devices that prove extremely convenient for home healthcare services are further propelling the global market. Apart from this, the launch of favorable initiatives by government bodies across countries aimed at preventing and treating pediatric illnesses effectively and avoiding health complications among children and the introduction of attractive medical reimbursement programs are expected to bolster the pediatric medical devices market in the coming years.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Abbott Laboratories, Atom Medical Corporation, Baxter International Inc., Cardinal Health Inc., Fritz Stephan GmbH, General Electric Company, Hamilton Medical (Hamilton Company), Koninklijke Philips N.V., Medtronic plc, Siemens AG and Stryker Corporation. 

Key Market Segmentation:

The report has been segmented the market into following categories:

Breakup by Product:

• IVD Devices
• Cardiology Devices
• Anesthesia and Respiratory Care Devices
• Neonatal ICU Devices
• Monitoring Devices
• Diagnostic Imaging Devices
• Telemedicine
• Others

Breakup by End User:

• Hospitals
• Diagnostic Laboratories
• Pediatric Clinics
• Others

Regional Insights:

• Asia Pacific
• North America
• Europe
• Middle East and Africa
• Latin America

On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.

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