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Pediatric Medical Devices Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.
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Published date -30th Jan 2024
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Formats -PDF, CSV
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Region -Global
Pediatric Medical Devices Market Size & CAGR in 2021
The global pediatric medical devices market is projected to reach a market size of USD 42.2 billion in 2021 with a Compound Annual Growth Rate (CAGR) of 4.5%. This growth is attributed to various factors such as increasing prevalence of pediatric diseases, technological advancements in healthcare, and a growing focus on child healthcare globally.
COVID-19 Impact on the Pediatric Medical Devices Market
The COVID-19 pandemic has significantly impacted the pediatric medical devices market. With healthcare systems overwhelmed by the pandemic, there has been a shift in focus towards treating COVID-19 patients, leading to a decline in elective procedures for pediatric patients. Additionally, disruptions in the global supply chain have caused delays in the production and distribution of pediatric medical devices.
Pediatric Medical Devices Dynamics
The pediatric medical devices market is driven by factors such as increasing healthcare expenditure, rising prevalence of chronic diseases in children, and technological advancements in pediatric healthcare. Additionally, the growing demand for minimally invasive surgical procedures and the focus on personalized medicine for pediatric patients are shaping the dynamics of the market.
Segments and Related Analysis
The pediatric medical devices market can be segmented based on device type, age group, and region. Device types include diagnostic devices, therapeutic devices, monitoring devices, and surgical devices. Age groups range from infants to adolescents. Region-wise analysis reveals variations in market size, growth rates, and key players across different geographic regions.
By Region Analysis
The pediatric medical devices market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominates the market due to the presence of advanced healthcare infrastructure and a high prevalence of pediatric diseases. However, the Asia Pacific region is expected to witness the fastest growth due to increasing healthcare investments and rising awareness about child healthcare.
Key Market Players and Competitive Landscape
Key players in the pediatric medical devices market include Medtronic, Philips Healthcare, Abbott Laboratories, Boston Scientific, and GE Healthcare. These companies are investing in research and development to introduce innovative pediatric medical devices and maintain a competitive edge in the market. The competitive landscape is characterized by collaborations, partnerships, and mergers among key players.
Recent Happenings in the Pediatric Medical Devices Market
In recent developments, Medtronic launched a new pediatric healthcare device for the treatment of congenital heart defects. Philips Healthcare introduced a digital monitoring system for children with respiratory disorders. Abbott Laboratories announced a partnership with a leading pediatric hospital to develop innovative medical devices for children. These developments highlight the ongoing efforts to improve pediatric healthcare through advanced medical technologies.
