Global Pediatric Medical Devices Market Size, Share, Forecast Report, 2020-2027

Pediatric Medical Devices Market is expected to register a healthy CAGR over the forecast period. The pediatric medical devices market size accounted for USD 23,145.6 million in 2018 and is projected to register a CAGR of 8.8% during the forecast period. Pediatrics is the branch of medicine that deals with the health and medical care of infants, children, and adolescents. Pediatric medical devices treat or diagnose diseases and conditions from birth through age 21. Several pediatric medical devices are specifically designed and developed for children, but in some cases, adult devices are also used. Factors representing the growth of global pediatric medical devices are globally rising prevalence of chronic and infectious diseases among the pediatric population, increasing preterm birth rate, technological advances in pediatric devices along with the launch of state-of-the-art devices, and growing parental awareness programs. About 15 million babies are born preterm (before 37 completed weeks of gestation) every year. The rate of preterm birth ranges from 5% to 18% of babies born across 184 countries around the world. This is fueling the demand majorly for cardiology devices, neonatal intensive care unit (ICU) devices, and monitoring devices, thereby supporting the market growth. On the contrary, lack of significant biocompatibility and safety criteria for medical devices is anticipated to hinder the market growth during the forecast period.

Segmentation

The global pediatric medical devices market has been segmented into product, end-user, and region.

By product, the market has been segmented into cardiology devices, in vitro diagnostic (IVD) devices, diagnostic imaging devices, telemedicine, anesthesia and respiratory care devices, neonatal ICU devices, monitoring devices, and others. The anesthesia and respiratory care devices segment is likely to witness significant market growth during the forecast period due to the rising burden of pediatric respiratory conditions such as chronic obstructive pulmonary disease (COPD), asthma, tuberculosis, and pneumonia.

On the basis of end-user, the global pediatric medical devices market has been categorized into hospitals, pediatric clinics, ambulatory surgery centers, research and academic institutes, and others. The hospital's segment is expected to hold a greater market share over the next seven years attributed to a gradual rise in the number of government and private hospitals in emerging countries such as China and India along with increase in the adoption of pediatric care equipment in hospitals
Key Players

Few of the prominent global pediatric medical devices market are Abbott Laboratories, Boston Scientific Corporation, Cardinal Health, Stryker Corporation, F. Hoffmann-La Roche Ltd, Medtronic PLC, GE Healthcare, Philips Healthcare, Baxter, and Siemens Healthineers.

Global Pediatric Medical Devices Market, by Product

• Cardiology Devices
• In Vitro Diagnostic (IVD) Devices
• Diagnostic Imaging Devices
• Telemedicine
• Anesthesia and Respiratory Care Devices
• Neonatal ICU Devices
• Monitoring Devices
• Others

Global Pediatric Medical Devices Market, by End User

• Hospitals
• Pediatric Clinics
• Ambulatory Surgery Centers
• Research and Academic Institutes
• Others