Pediatric Medical Devices Market Growth and Forecast by 2031

The Pediatric Medical Devices market size is projected to reach US$ 54.87 billion by 2031 from US$ 32.48 billion in 2023. The market is expected to register a CAGR of 6.78% during 2023–2031. The rising popularity of Point-of-Care devices for pediatric care are likely to remain key trends in the market.

Pediatric Medical Devices Market Analysis

Pediatric medical devices treat or diagnose conditions in individuals from birth through age 21. Pediatric patients are defined as persons aged 21 or younger at the time of their diagnosis or treatment. Pediatric subpopulations are categorized as neonates (birth through 28 days), infants (29 days to less than 2 years), children (2 years to less than 12 years), and adolescents (12 through 21 years). The rising chronic diseases among the pediatric population boost the demand for pediatric medical devices.

Pediatric Medical Devices Market Overview

According to an article published in Wiley online library in August 2020, 3.9 million surgeries are performed on children aged 0-17 in the US annually. The most common surgical procedures in childhood, excluding circumcision, are related to the ear, nose, and throat: tonsillectomies, adenoidectomies, and tympanostomy tube placement. The rising number of pediatric surgeries is increasing the demand for new innovations in the pediatric medical device market. In addition, with the growing demand, companies are introducing new technologies to accelerate growth of their market share. For instance, in June 2021, Preceptis Medical, Inc., launched Hummingbird Tympanostomy Tube System (TTS), a next-generation ear tube system for office-based pediatric myringotomy procedures. The new Hummingbird device has an improved ergonomic design that makes tympanostomy procedures in toddlers more successful without general anesthesia.

Customize This Report To Suit Your Requirement

You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities

Get FREE CUSTOMIZATION

Pediatric Medical Devices Market: Strategic Insights

• Get Top Key Market Trends of this report.
  This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Free Sample PDF

Pediatric Medical Devices Market Drivers and Opportunities

Mounting Number of Pediatric Surgeries to Favor Market

As highlighted by the United Nations International Children's Emergency Fund (UNICEF), Pneumonia is the leading cause of death among children under 5, resulting in ~ 700,000 deaths per year. The increasing prevalence of chronic diseases including respiratory diseases, cancer, and cardiovascular disorders is expected to boost demand for pediatric medical devices. Hypoxic-Ischemic Encephalopathy (HIE) is a leading cause of neonatal mortality and morbidity in term and near-term infants. With the advancements in neonatal care, medical technologies have enabled the adoption of new therapies to support care or to be explored in large clinical studies. As a result, the rising adoption of medical devices in pediatric care facilities, fuels the global pediatric medical devices market.

High Growth Potential in Emerging Economies Brings Growth Opportunities

According to an article published in BMJ Open in November 2022, a study conducted using Demographic and Health Survey data from 33 sub-Saharan African countries concluded that Common childhood illnesses are prevalent among under-5 children in sub-Saharan African countries. Factors at individual and community levels are associated with this issue. Furthermore, the expanding healthcare infrastructure in emerging economies and the growing emphasis on telemedicine offer promising prospects for market expansion. Thus, collective initiatives by the international organizations, such as WHO and UNICEF in the regions such as the Asia Pacific, and Middle East and Africa strengthen their pediatric healthcare infrastructures by creating awareness regarding pediatric safety. These are likely to offer lucrative opportunities for the pediatric medical devices market growth during the forecast period.

Pediatric Medical Devices Market Report Segmentation Analysis

Key segments that contributed to the derivation of the pediatric medical devices market analysis are product and end user.

• The pediatric medical devices market is segmented based on product into in vitro diagnostic (IVD) devices, cardiology devices, respiratory care devices, monitoring devices, neonatal ICU devices, and others. The in vitro diagnostic (IVD) devices segment held the largest market share in 2023.
• By end user, the market is segmented into hospitals, pediatric clinics, and others. The hospitals segment held the largest share of the market in 2023.

Pediatric Medical Devices Market Share Analysis by Geography

The geographic scope of the Pediatric Medical Devices market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.  Asia Pacific is expected to grow with the highest CAGR in the coming years.

The Pediatric Medical Devices market in North America is analyzed based on the three major countries: the US, Canada, and Mexico. The US is projected to have the largest share of the North America pediatric medical devices market in 2023.

As per the American Academy of Pediatrics, ~3% to 4% of all babies born in the US have congenital abnormalities. As per the Centers for Disease Control and Prevention (CDC), 1 in every 33 babies born in the US is affected by birth defects every year. The rise in the number of pediatric populations having birth deformities reflects the greater number of populations undergoing surgical treatments. Therefore, factors such as the mounting burden of pediatric diseases, R&D activities to develop advanced pediatric medical devices, and increasing product launches attributes to the growth of the US pediatric medical devices market share.

Pediatric Medical Devices Market Regional Insights

The regional trends and factors influencing the Pediatric Medical Devices Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Pediatric Medical Devices Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Pediatric Medical Devices Market Report Scope

Pediatric Medical Devices Market Players Density: Understanding Its Impact on Business Dynamics

The Pediatric Medical Devices Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Pediatric Medical Devices Market are:

1. F. Hoffmann-La Roche Ltd
2. General Electric Company
3. Atom Medical Corp.
4. Koninklijke Philips N.V.
5. Siemens AG
6. Medtronic

Disclaimer: The companies listed above are not ranked in any particular order.

Pediatric Medical Devices Market News and Recent Developments

The Pediatric Medical Devices market is evaluated by gathering qualitative and quantitative data from primary and secondary research, which includes essential corporate publications, association data, and databases. A few of the developments in the Pediatric Medical Devices market are listed below:

• OrthoPediatrics Corp. have entered an agreement to acquire Pega Medical, including its Fassier-Duval Telescopic Intramedullary System designed for patients suffering from Osteogenesis Imperfecta and other bone deformities. Their product offerings include novel technologies to treat some of the most unique conditions in pediatric orthopedics. (Source: OrthoPediatrics Corp, Press Release, June 2022).
• LMT Medical Systems created the "Nomag IC Enhanced," an advanced MR Diagnostics Incubator that allows neonates and preterm babies to be moved straight from the NICU into the MR suite for testing using optimum, non-invasive Magnetic Resonance Imaging. Throughout the transit and MRI examination, the infant is safeguarded inside the life-sustaining, temperature and humidity-controlled MR-incubator. (Source: Ergotron, Press Release, December 2020).

Pediatric Medical Devices Market Report Coverage and Deliverables

The “Pediatric Medical Devices Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Pediatric medical devices market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Pediatric medical devices market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Pediatric medical devices market analysis covering key market trends, global and regional framework, significant players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the Pediatric medical devices market
• Detailed company profiles