Pediatric Medical Devices Market 2023 Briefing, Trends, Applications, Types, Research, Forecast To 2032

The global Pediatric Medical Devices market is expected to grow from USD 22.65 billion in 2020 to USD 53.56 billion by 2028, at a CAGR of 10.39% during the forecast period 2021-2028.The increasing number of cancer and diabetes cases, technological advancement and the increasing number of ambulatory services are the factors affecting the demand of the market.

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The anaesthesia and respiratory care devices segment is accounted for the highest market value ofUSD 5.6 Billion in 2020

The product segment is divided into diagnostic imaging devices, cardiology devices, anaesthesia and respiratory care devices, in vitro diagnostic (IVD) devices, telemedicine, monitoring devices, neonatal ICU devices and others. The anaesthesia and respiratory care devices segment is accounted for the highest market value of USD 5.6 Billion in 2020. This is due to the pediatric respiratory cases due to the unhealthy lifestyle of people.

The hospital segment is expected to held the highest market share of 31.36% in 2020

The end-user segment includes research and academic institutes, hospitals, ambulatory surgery centers, pediatric clinics and others. The hospital segment is expected to held the highest market share of 31.36% in 2020. This is due to an increasing number of hospitals, especially in the world's two biggest economies China and India and also the adoption of pediatric care equipment in hospitals.

Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. North America is accounted to have the highest market share in 2020 and seems to have the dominance in the forecasting period also. This is due to the fact that big player of health care market lies in this region, increasing number of pediatric hospitals in the region and also the increase in the disposable income of the people in US and Canada.Asia-Pacific is accounted to have the second largest market share in 2020. This is due to the factors like the growing pediatric population in the region and increase in the awareness about the pediatric care.

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Competitive Analysis:

The major players ofmarketincludeBoston Scientific Corporation, Abbott Laboratories, Medtronic plc, Stryker Corporation, Koninklijke Philips N.V., Siemens Healthineers, Johnson & Johnson, GE Healthcare, Cardinal Health and Baxter International, Inc among others.

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This release was published on openPR.