Market Size of Global Pediatric Medical Devices Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 41.24 Billion |
Market Size (2029) | USD 54.60 Billion |
CAGR (2024 - 2029) | 5.77 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Pediatric Medical Devices Market Analysis
The Global Pediatric Medical Devices Market size is estimated at USD 41.24 billion in 2024, and is expected to reach USD 54.60 billion by 2029, growing at a CAGR of 5.77% during the forecast period (2024-2029).
The health threat posed by the COVID-19 pandemic was unparalleled. Numerous research has been released to shed light on the market's consequences. For instance, according to the article "Pediatric COVID-19: Systematic Review of the Literature," which was released in October 2020, 14.9% of pediatric patients who tested positive for SARS-CoV-2 infection were asymptomatic. Cough (48 percent), fever (47 percent), and sore throat/pharyngitis (28.6 percent) were the most prevalent symptoms experienced by patients, compared to upper respiratory symptoms such as rhinitis, sneezing, and nasal congestion (13.7 percent), nausea and vomiting (7.8 percent), and diarrhea (10.1 percent ). As a result, the high prevalence of these disorders in children raised the need for critical care, which had a favorable effect on the pediatric medical devices market.
The main cause of the market's expansion is the rising incidence of chronic illnesses in children, such as anemia, asthma, chickenpox, diphtheria, leukemia, measles, mumps, pneumonia, tuberculosis, whooping cough, and Lyme disease. Over 800,000 children under the age of five die from pneumonia each year, more than any other infectious disease, according to UNICEF 2021's April report. This includes more than 153,000 new babies. One of the most common chronic diseases in children is pneumonia, which is increasing the demand for medical equipment and boosting the market. Additionally, the introduction of new devices in the industry under study will result in substantial market expansion. For instance, Getinge's Flow-e and Flow-c Anesthetic Systems, which allow tailored anesthesia delivery for even the most demanding patients, from neonates and toddlers to the morbidly obese, was approved by the US Food & Drug Administration (FDA) in August 2020. Additionally, to encourage nurse-led technology and innovation for pediatric medical device innovation, the West Coast Consortium for Technology & Innovation in Pediatrics (CTIP) and Nursing Innovation Hub, Inc. (NIHUB) partnered in March 2020. Furthermore, the growing investments in research and development programs by the government to develop the medical infrastructure in the pediatric section are boosting the market growth.
However, the lack of awareness of the pediatric medical devices available is the major drawback of market growth.
Pediatric Medical Devices Industry Segmentation
As per the scope of the report, pediatric medical devices are devices that are effective, safe, and designed for the specific needs of children. The Pediatric Medical Devices Market is segmented by Product (IVD Devices, Cardiology Devices, Anesthesia & Respiratory Care Devices, Neonatal ICU Devices, Monitoring Devices, and Others), End-User (Hospitals, Diagnostic Laboratories, Pediatric Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
By Product | |
IVD Devices | |
Cardiology Devices | |
Anesthesia & Respiratory Care Devices | |
Neonatal ICU Devices | |
Monitoring Devices | |
Others |
By End-User | |
Hospitals | |
Diagnostic Laboratories | |
Pediatric Clinics | |
Others |
Geography | ||||||||
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Global Pediatric Medical Devices Market Size Summary
The pediatric medical devices market is poised for significant growth, driven by the increasing prevalence of chronic illnesses among children and the ongoing development of innovative medical technologies. The market is experiencing a surge in demand due to the rising incidence of conditions such as pneumonia, asthma, and other infectious diseases, which necessitate advanced medical interventions. The introduction of new devices, such as Getinge's anesthetic systems and InnAccel's portable neonatal CPAP device, underscores the industry's commitment to enhancing pediatric care. Additionally, strategic acquisitions and partnerships, like Medtronic's purchase of SonarMed Inc., are expanding the range of products available, particularly in neonatal intensive care units. These developments are further supported by government investments in pediatric healthcare infrastructure and research, which are expected to bolster market expansion over the forecast period.
North America is anticipated to lead the pediatric medical devices market, attributed to its robust healthcare infrastructure, high prevalence of pediatric chronic diseases, and the presence of key industry players. The region's market growth is further fueled by the launch of innovative products and favorable healthcare policies. Notable advancements, such as the approval of the Harmony Transcatheter Pulmonary Valve System and the introduction of the Hummingbird Tympanostomy Tube System, highlight the region's focus on addressing complex pediatric health needs. The competitive landscape is characterized by the presence of major players like TSE MEDICAL, Hamilton Medical, and GE Healthcare, who are actively working to meet the growing demand for pediatric medical devices. As the market continues to evolve, these factors are expected to drive substantial growth and enhance the quality of care provided to pediatric patients.
Global Pediatric Medical Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Infectious Diseases among the Pediatric Population
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1.2.2 Development of Health Care Infrastructure for Pediatric Health Issues
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1.3 Market Restraints
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1.3.1 Challenges to Pediatric Device Development and Low Addressable Market
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Product
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2.1.1 IVD Devices
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2.1.2 Cardiology Devices
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2.1.3 Anesthesia & Respiratory Care Devices
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2.1.4 Neonatal ICU Devices
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2.1.5 Monitoring Devices
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2.1.6 Others
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2.2 By End-User
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2.2.1 Hospitals
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2.2.2 Diagnostic Laboratories
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2.2.3 Pediatric Clinics
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2.2.4 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle-East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle-East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Pediatric Medical Devices Market Size FAQs
How big is the Global Pediatric Medical Devices Market?
The Global Pediatric Medical Devices Market size is expected to reach USD 41.24 billion in 2024 and grow at a CAGR of 5.77% to reach USD 54.60 billion by 2029.
What is the current Global Pediatric Medical Devices Market size?
In 2024, the Global Pediatric Medical Devices Market size is expected to reach USD 41.24 billion.