Asia-Pacific Pediatric Medical Devices Market Growth and Analysis by 2028

The pediatric medical devices market in APAC is expected to grow from US$ 6,308.79 million in 2021 to US$ 11,230.82 million by 2028; it is estimated to grow at a CAGR of 8.6% from 2021 to 2028.

Point-of-care products witnessing high demand is the major factor driving the growth of the APAC pediatric medical devices market. The healthcare system is continuously evolving due to rising product innovation and developments, creating opportunities for the APAC pediatric medical devices market. The patient care systems are developing to facilitate various medical procedures. The rise in diseases and disorders among children is among the key role to play in increasing investment of the APAC and domestic players. The trend for pediatric medical devices is likely to grow dramatically in the future, owing to the increasing number of market players offering products. Moreover, introduction of innovative products, revolutionary technology, and successful events created opportunities for the companies to continue producing pediatric medical devices. In addition, the increasing trend for the use of point-of-care devices in hospitals and at-home care is expected to benefit the market. Thus, companies manufacturing the products are likely to add value to their customers and attract more customer base. Therefore, considering these factors, are likely to propel the market's growth during the forecast period.  

The 2019 novel coronavirus (2019-nCoV), officially named COVID-19 by the WHO, has spread to more than 180 countries, including China, prompting the WHO to declare the disease a global pandemic. The supply chain disruptions, along with the massive demand for efficient treatments for the therapy of COVID-19, have put the healthcare research industry in a crucial situation in APAC. Prohibitive measures have been taken to control the spread of the virus. The COVID-19 pandemic has broadly affected the economies in APAC. Countries such as India, China, Japan, South Korea were adversely affected by the pandemic. The socioeconomic factors were severely affected, rising in negative inflation, GDPs, and a surge in unemployment in the region toward medical devices. The pandemic has affected three main aspects of the global economy: production, supply chain, and firms and financial markets. Japan, China, South Korea, India, and Australia are the most affected countries due to the increasing number of COVID-19 cases and the associated deaths. Manufacturers and suppliers of medical devices have shifted their focus from regular pediatric medical devices to developing and supplying COVID-19 essentials and medical devices used for respiratory issues. This scenario has negatively impacted the pediatric medical devices market. The pandemic has affected business operations of various key players operating in this region. Furthermore, business strategies such as acquisitions, mergers, and partnerships are adversely affected by the imposition of complete lockdown. Such obstructions in business activities are projected to hamper the adoption of various technologically advanced healthcare systems, including medical devices.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC pediatric medical devices market. The APAC pediatric medical devices market is expected to grow at a good CAGR during the forecast period.

APAC Pediatric Medical Devices Market Segmentation

APAC Pediatric Medical Devices Market – By Product

• In Vitro Diagnostic (IVD) Devices
• Cardiology Devices
• Respiratory Care Devices
• Monitoring Devices
• Neonatal ICU Devices
• Others

APAC Pediatric Medical Devices Market – By End User

• Hospitals
• Pediatric Clinics
• Others

APAC Pediatric Medical Devices Market, by Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

APAC Pediatric Medical Devices Market - Companies Mentioned

• Atom Medical Corp.
• F. Hoffmann-La Roche Ltd.
• General Electric Company
• Hamilton Medical
• Koninklijke Philips N.V.
• Medtronic
• Siemens AG

Asia-Pacific Pediatric Medical Devices Report Scope