The Pediatric Respiratory Devices Market to generate more revenue from North America and Europe
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Increasing incidence of respiratory diseases such as common cold, influenza and others are expected to increase the growth of Pediatric respiratory devices market. Further, various medical devices are needed for cardiovascular diseases in pediatric patients such as ventricular assist devices and this is anticipated to boost the Pediatric respiratory devices market. In addition, various devices such as therapeutic hypothermia devices, phototherapy devices and others are used to treat neonatal diseases which are expected to increase the demand for Pediatric respiratory devices. Furthermore, delicate surgical technique is used for pediatric surgical diseases because of insignificant body mass of pediatric patients. This, in turn, is anticipated to spur the Pediatric respiratory devices market.
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However, due to high cost of surgical interventions for a pediatric patient is anticipated to hamper the growth of Pediatric respiratory devices market.
Rapid increase in corona virus all around the world is expected to boost the growth of pediatric respiratory devices market. The virus outburst has become one of the threats to the global economy and financial markets. The impact has made immense decrease in revenue generation in the field of all healthcare industry growth for the market in terms of compatibility and it has led in huge financial losses and human life which has hit very hard to the core of developing as well as emerging economies in healthcare sector. It further anticipated that such gloomy epidemiological pandemic environment is going to remain in next for at least some months, and this is going to also affect the life-science market which also include the market of pediatric respiratory devices market.
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The global pediatric respiratory devices market is segmented based on Component Type, Technology, Application, End User and Geography:
Based on the Product Type, pediatric respiratory devices market is segmented into:
Neonatal ICU Devices
Anesthesia and Respiratory Care Devices
Based on the End User, pediatric respiratory devices market is segmented into:
Ambulatory Surgical Centers
Based on the segmentation, neonatal ICU devices segment is expected to dominate the market due to their ability in treating diseases such as asthma particularly among pediatric patients. According to the WHO, most of deaths due to chronic inflammatory diseases such as asthma occur primarily in developing countries. Further, based on the end user, ambulatory surgical centers are anticipated to show significant demand for pediatric respiratory devices due to growing respiratory diseases and rising global awareness about the disease’s treatment.
Geographically, the global pediatric respiratory devices market is segmented into regions such as Latin America, Europe, North America, South Asia, East Asia Middle East & Africa and Oceania. North America is projected to emerge as prominent market in the global pediatric respiratory devices market due to increase in incidence of respiratory diseases and increase in popularity of portable devices. However, Asia-pacific is expected to show significant growth in the pediatric respiratory devices market due to increase in the awareness about diagnostic procedures and improving healthcare infrastructures.
Some of the major key players competing in the global pediatric respiratory devices market are Medtronic plc, F. Hoffmann-La Roche Ltd, Abbott Laboratories, Siemens Healthineers, Cardinal Health, Inc., Stryker Corporation, Baxter International, Johnson & Johnson and Koninklijke Philips N.V.
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