DUBLIN–(BUSINESS WIRE)–April 7, 2022–

The Pediatric Medical Devices Market is expected to reach US$48,305.21 million by 2028 from an estimated value of US$28,207.65 million in 2021 and is expected to grow with a CAGR of 8.0% by compared to 2021-2028

The increasing incidence of cancer and respiratory disorders in children and the availability of a wide range of pediatric medical devices are some of the major factors driving the market growth. However, the lack of awareness of medical devices designed for infants is hampering the growth of the market.

Pediatric medical devices are used in the diagnosis and treatment of various medical conditions occurring in children from birth to 21 years of age. Medical device innovation demonstrates both the unique needs of children and the challenges of bringing a device to market that meets those requirements. .

The design of pediatric medical devices is a difficult task. Designers should consider the following aspects when designing these devices: children are often more active than adults, their body structures and functions are constantly changing and different from those of adults; moreover, they may be long-term users of the devices.

Healthcare systems around the world are constantly changing due to innovations and product developments. The increase in childhood diseases and disorders plays a key role in attracting investment from global and national players in this sector. The trend of pediatric medical devices is likely to grow significantly in the future, due to the growing number of market players offering the products.

Additionally, innovative products, breakthrough technology, and successful events have created opportunities for companies to continue producing pediatric medical devices. Also, the growing trend of point-of-care devices in hospitals and home care is expected to benefit the pediatric medical device market in the coming years.

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

Based on end-user, the pediatric medical device market is segmented into hospitals, pediatric clinics, and others. The hospital segment is expected to hold the largest market share in 2021. Additionally, the pediatric clinic segment is expected to register the highest CAGR of 8.5% of the market during the forecast period.

• Growing incidences of cancer and respiratory disorders in children
• Availability of a wide range of pediatric medical devices

• Lack of awareness about medical devices designed for infants

• High growth potential in emerging economies

• Continuous demand for products at the point of service

• Boston Scientific Society
• Abbott
• Medtronic
• Baxter
• Cardinal Health, Inc.
• F. Hoffmann-La Roche Ltd.
• General electricity company
• Johnson & Johnson Services, Inc.
• Koninklijke Philips NV
• Siemens AG

Laura Wood, Senior Press Officer

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SECTOR KEYWORD: HEALTHCARE MEDICAL DEVICES

SOURCE: Research and Markets

Copyright BusinessWire 2022.

PUBLISHED: 04/07/2022 07:21 AM/DISC: 04/07/2022 07:21 AM