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Pediatric Imaging Market Share, Forecast 2024-2033
Pediatric Imaging Market Share
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According to The Business Research Company's, The pediatric imaging market size has grown rapidly in recent years. It will grow from $8.71 billion in 2023 to $9.61 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to increased awareness of childhood diseases, rising demand for early diagnosis, growth in pediatric population, government initiatives for child healthcare, pediatric sub specialization in radiology.
The pediatric imaging market size is expected to see rapid growth in the next few years. It will grow to $14.1 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to miniaturization and portability of imaging equipment, ai and machine learning in pediatric radiology, 3d and 4d imaging for better diagnostics, growth in pediatric telemedicine, pediatric imaging workflow optimization. Major trends in the forecast period include low-dose imaging techniques, pediatric-focused ai algorithms, child-friendly imaging environments, parental involvement in pediatric imaging, pediatric imaging quality metrics.
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Market Drivers and Trends:
The rise in the number of pediatric ailments among children is expected to propel the growth of the pediatric imaging market going forward. Pediatric imaging is the scanning and diagnosis of smaller age group patients by using advanced technology such as ultrasound, CT scan, X-ray, and others to predict any abnormalities in children's bodies and prepare an effective treatment plan. Imaging in pediatric nuclear medicine is used to help identify life-threatening conditions in children that are congenital, infectious, non-infectious, or both, such as cancer. For instance, according to the National Cancer Institute, a U.S. Department of Health and Human Services, in 2021 approximately 15,990 children in the age group of 0-19 years were diagnosed with cancer in the United States. Therefore, the rise in the number of pediatric ailments among children is driving the growth of the pediatric imaging market.
Technological advancement is the key trend being followed by companies operating in the pediatric imaging market. Major companies operating in the pediatric imaging sector are focused on developing technologically advanced products to strengthen their market position. For instance, in May 2021, Philips Healthcare, a Netherlands-based company operating in advanced medical technology for scanning, launched Spectral CT 7500, a technologically advanced super-premium scanner working on spectral technology. Spectral technology uses multiple electromagnetic waves beyond the visible spectrum RGB (Red, Blue, and Green) that are capable of obtaining a clear organ picture for diagnosis. The Spectral CT 7500 uses spectral data for scanning to provide results in a faster manner with a more confident diagnosis. Additionally, it can be used for precision diagnosis in pediatric, bariatric, and cardiac care, oncology, emergency radiology, and others.
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Major Key Players of the Market:
Agfa-Gevaert NV, Analogic Corporation, CAN-med Healthcare, Canon Inc., Eastman Kodak Company, EDM Imaging Solutions, EOS imaging, Esaote SpA, FUJIFILM Holdings Corporation, Hitachi Medical Corporation, KARL STORZ Group, Koninklijke Philips N.V, LMT Medical Systems GmbH, Maranda Lauzon Inc., Medtronic plc, Mindray Medical International Limited, Samsung Medison Co. Ltd, Shenzhen Anke High-tech Co. Ltd, Siemens Healthcare GmbH, SternMed GmbH, Toshiba Medical Systems Corporation, Trivitron Healthcare Pvt. Ltd., Xi'an Mol Technology development Co., BK Medical UK Ltd., Boston Children's Hospital, Children's Healthcare of Atlanta Inc., Children's National Hospital, Cincinnati Children's Hospital Medical Center, Clarius Mobile Health Corp., CurveBeam AI Ltd., General Electric Company, Hologic Inc., InnoVision Ltd., Mednax Inc.
Pediatric Imaging Market 2024 Key Insights:
• The pediatric imaging market size is expected to see rapid growth in the next few years. It will grow to $14.1 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%.
• Elevated Incidence Of Pediatric Ailments Drives Growth In The Pediatric Imaging Market
• Pediatric Imaging Market Advances With Cutting-Edge Technology A Look At Philips Healthcare's Spectral Ct 7500
• North America was the largest region in the pediatric imaging market in 2023
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