Pediatric Medical Devices Market Size, Share & Forecast to 2028

Pediatric Medical Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (In Vitro Diagnostic (IVD) Devices, Cardiology Devices, Respiratory Care Devices, Monitoring Devices, Neonatal ICU Devices, and Others); End User (Hospitals, Pediatric Clinics, and Others), Geography

Publication Month : Aug 2021

  • Report Code : TIPHE100001390
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 154
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The pediatric medical devices market is expected projected to reach US$ 48,305.21 million in by 2028 from an estimated value of US$ 28,207.65 million in 2021. The market it is estimated to grow with at a CAGR of 8.0% from during 2021–2028.

The scope of this report on the pediatric medical devices market includes its analysis based on product, end user, and geography. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. The report offers insights and in-depth analysis of the pediatric medical devices market emphasizing on parameters such as market trends, technological advancements, market dynamics, and COVID-19 impact analysis. It also presents a competitive landscape analysis of leading market players across the world along with providing.

Lucrative Regions for Pediatric Medical Devices Market

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Market Insights

Rising Incidences of Cancer and Respiratory Disorders among Children

Factors causing cancer among the children are abnormal mutation, inherited versus acquired gene mutations, lifestyle associated factors, and so on. As per the American Cancer Society published data in January 2021, it is estimated that 10,500 children in the US below the age of 15 in 2021 have cancer. Different types of medical devices are used during the treatment and monitoring of pediatric patients. Compared to adults, children's body structure and phycology need to be managed and maintained during various procedures such as MRI scans, X-ray imaging, and blood sampling procedures. For instance, the rising prevalence of respiratory diseases such as the COVID-19 among children is expected to create the need for monitoring devices such as pulse oximeters, critical care devices, ventilators, and warmers. As per the American Academy of Pediatrics, ~4.3 million children were tested positive for COVID-19 in August 2021 in the US. Thus, the rising prevalence of cancer and respiratory diseases among children is driving the pediatric medical devices market growth. Another critical factor supporting the growth of this market are increase in the rates of premature births.

Product -Based Insights

The pediatric medical devices market, by product, is segmented into in vitro diagnostic (IVD), cardiology devices, respiratory care, monitoring devices, neonatal ICU devices, and others. The in vitro diagnostic segment is likely to hold the largest share of the market in 2021, and the respiratory care segment is anticipated to register the highest CAGR of 8.6% during the forecast period.


Pediatric Medical Devices Market, by Product – 2021 and 2028

Pediatric Medical Devices Market, by Product – 2021 and 2028
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End User-Based Insights

 Based on end user, the pediatric medical devices market is segmented into hospitals, pediatric clinics, and others. The hospitals segment is likely to hold the largest share of the market in 2021. Moreover, the pediatric clinics segment is estimated to register the highest CAGR of 8.5% in the market during the forecast period.

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Pediatric Medical Devices Market: Strategic Insights

pediatric-medical-devices-market
Market Size Value inUS$ 28,207.65 Million in 2021
Market Size Value byUS$ 48,305.21 Million by 2028
Growth rateCAGR of 8.0% from 2021-2028
Forecast Period2021-2028
Base Year2021
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Inorganic strategies such as partnerships, and mergers and acquisitions are commonly adopted by companies to cater to changing customer demand and maintain their brand name across the world. Companies players operating in the pediatric medical devices market adopt organic strategies such as product launch and expansion, in addition to the abovementioned ones, to outstretch their footprint and product portfolio worldwide as well as to meet the growing demand.

By Product

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


By End User

  • Hospitals
  • Pediatric Clinics
  • Others


By

Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East and Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South and Central America (SCAM)

    • Brazil
    • Argentina
    • Rest of SCAM

Company Profiles

  • Boston Scientific Corporation
  • Abbott
  • Medtronic
  • Baxter
  • Cardinal Health, Inc.
  • F. Hoffmann-La Roche Ltd.
  • General Electric Company
  • Johnson And Johnson Services, Inc.
  • Koninklijke Philips N.V.
  • Siemens AG
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Devices ; End User , Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are Pediatric Medical Devices?

Pediatric medical devices treat or diagnose diseases and conditions from birth through the age of 21. The medical device innovation demonstrates both the unique needs of children and the challenges of getting to the market a device that meets those requirements. For instance, designing pediatric medical devices is a challenge; children are often more minor and more active than adults, body structures and functions modification during childhood, and children may be long-term device users. Moreover, the body structure of the children is continuously developing. Thus, the devices need to be compatible with the changes in the body.

What are the driving factors for the Pediatric Medical Devices market across the globe?

The key factors that are driving growth of the market rising incidence of cancer and respiratory disorders among children, and availability of wide range of pediatric medical devices. However, lack of awareness about medical devices designed for infants hampers the market growth.

What will be the CAGR of Pediatric Medical Devices market?

The Pediatric Medical Devices market is anticipated to grow around 8.0% CAGR amid the forecast period 2021-2028.

Which region is projected to be the fastest growing region in the global Pediatric Medical Devices market?

Asia Pacific is projected to be the fastest growing region in the global market.

What is the cost of Pediatric Medical Devices?

The costs of the Pediatric Medical Devices are much higher, and they may cost US$ 300–1500, or more, per type. The cost may also differ from product to product types.

The List of Companies - Pediatric Medical Devices Market

  1. Boston Scientific Corporation
  2. Abbott
  3. Medtronic
  4. Baxter
  5. Cardinal Health, Inc.
  6. F. Hoffmann-La Roche Ltd.
  7. General Electric Company
  8. Johnson And Johnson Services, Inc.
  9. Koninklijke Philips N.V.
  10. Siemens AG

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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