According to a recent market study published by Growth Market Reports, titled, “Global Pediatric Medical Device Market by Product Types, by End-Users: Size, Share, Trends and Opportunity Analysis, 2020-2028”, the global Pediatric Medical Device market was valued at USD 26,198.6 million in 2020 and is projected to reach USD 48,440.1 million by 2028, expanding at a CAGR of 8.5% during the forecast period.

Pediatrics is the field of study that deals with the health and medical care of children, adolescents, and babies. From birth to age 21, pediatric medical devices cure or diagnose diseases and ailments. Several pediatric medical devices are conceived and developed exclusively for children, but adult medical devices are employed in some instances. Every year, about 15 million babies are born prematurely (before 37 weeks of pregnancy). Preterm birth affects 5% to 18% of all babies born in 184 countries throughout the world. This is boosting the demand for cardiology, neonatal intensive care unit (NICU), and monitoring devices, all of which are contributing to the market growth. Children are smaller and more active than adults, their bodies change as they grow, and they use electronic devices for a long time, bringing new worries about device lifespan and long-term exposure to implanted materials. A range of chronic respiratory and pulmonary cardiac problems are diagnosed and monitored using pediatric medical devices. They include a cardiorespiratory monitor, a transcutaneous oxygen or carbon dioxide monitor, mechanical ventilators, continuous positive airway pressure tubes, and a cardiorespiratory monitor.

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Few medical gadgets are indicated and labelled for use in children. As the number of novel devices allowed for adults grows, the number of gadgets approved for children increases. Despite legislative and regulatory improvements aimed at encouraging research in pediatric medical devices, the percentage of new devices licensed for use in children remained largely stable over the last decade. Dearth of pediatric-specific devices that are conceived, reviewed, and approved limits the access of young patients to potentially useful innovative technology and leads to off-label use of devices. Some items are made exclusively for kids, while others are adapted from adult apps or made for a broad audience. Designing juvenile medical devices is difficult, as children are often smaller and more active than adults, their bodies change as they grow, and they are long-term device users with long-term exposure to implanted materials, raising new issues regarding device longevity.

As per Growth Market Reports industry analyst, Divyanka Sankhe, “Pediatric medical devices are expected to be popular among end-users during the forecast period. Major factors propelling the Pediatric medical device market are growing technological advancements in pediatric devices, rising demand for pediatric medical device technology, and increasing incidence of chronic diseases and infectious disease. Major market players in almost every industry rely on the development of new and innovative products. Companies are focusing on investment for technologically advanced products and product development. Increasing expenditure on advancement of technology is leading to development of products. Rising development of healthcare infrastructure is expected to drive the market. Moreover, growing investment in healthcare infrastructure by various countries is positively affecting the market growth. Research in pediatric medical device is growing in the field of pediatric devices. This is supplemented by pediatric medical technologies. Due to product advancements and improvements, healthcare systems around the world are constantly changing. Research is required for advanced development in medical device designing. Companies in almost every industry rely on research and development (R&D) to plan, design, and deliver new and innovative products and are focusing on advancement and research trends in the pediatric medical device market. Many initiatives are taken by governments for encouraging the usage of pediatric medical device. In developing countries, governments are continuously funding for improving quality and efficiency of pediatric medical device, which is estimated to drive the market.”

Key Takeaways from the Study:

  • The North America segment held 42.1% value share of the market in 2020. The segment is projected to account for the largest share of the market during the forecast period.
  • The Europe segment is anticipated to expand at a lucrative CAGR of 8.7% between 2021 and 2028. The segment is projected to account for the largest share of the market during the forecast period.
  • Key players including TSE MEDICAL, Atom Medical Corporation, Fritz Stephan GmbH, Hamilton Medical, Ningbo David Medical Device Co. Ltd, Novonate, Inc., Phoenix Medical Systems Pvt Ltd, Trimpeks, OrthoPediatrics Corp. hold a major market share of the Global Pediatric Medical Device Market in 2020.
  • In terms of value, the hospital segment is expected to dominate the market during the forecast period.

Report Scope:

Report Metric

Details

Market Value in 2020

US$ 26,198.6 Million

Market Growth Rate (from 2020 to 2028)

8.5%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2020 - 2028

Units Considered

Value (US$ Million)

Market Segments

By Product Types, By End-Users

Regional Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA).

Key Companies Profiled

Atom Medical Corp. 
Fritz Stephan GmbH
Hamilton Medical
Medtronic
Natus Medical Incorporated
Ningbo David Medical Device Co. Ltd
Novonate, Inc
OrthoPediatrics Corp.
Phoenix Medical Systems Pvt Ltd
Siemens Medical Solutions USA, Inc.
Trimpeks
TSE MEDICAL

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Manufacturers, raw material suppliers, and distributors
  • Demand Side: Hospitals, Pediatric centers, Neonatal ICU
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies.
  • Associations and Industry Bodies: Center for Biologics Evaluation and Research (CBER), U. S. Food & Drug Administration (FDA), European Monetary System (EMS), among others.