What Is The Current and Historic Market Size Analysis Of The Pediatric Medical Devices Market?
The pediatric medical devices market has seen considerable growth due to a variety of factors.
• The pediatric medical devices market has grown strongly in recent years. It will increase from $33.84 billion in 2024 to $36.69 billion in 2025, at a compound annual growth rate (CAGR) of 8.4%.
The growth is attributed to greater awareness, increased investments in infrastructure, population growth, government initiatives, and expanded insurance coverage.
What are the Market Size and Expected Growth Rates for the Pediatric Medical Devices Market?
The pediatric medical devices market is expected to maintain its strong growth trajectory in upcoming years.
• The pediatric medical devices market is projected to experience substantial growth in the coming years, reaching $50.19 billion by 2029, with a compound annual growth rate (CAGR) of 8.1%.
This growth is driven by factors such as value-based care models, advancements in manufacturing processes, personalized healthcare solutions, a focus on home-based care, and collaborative innovations. Key trends include remote monitoring, pediatric telemedicine, wearable health devices for children, pediatric robotics in surgery, and AI integration in pediatric healthcare.
Which Key Drivers Are Propelling The Pediatric Medical Devices Market's Growth?
The pediatric medical devices market is predicted to flourish due to an increase in demand for minimally invasive surgeries specifically designed for children. These procedures, which use small incisions or natural body openings, along with advanced tools and imaging technology, aid in diagnosing, treating, or managing children's health issues with less trauma and quicker recovery compared to traditional open surgeries. Technological improvements are boosting the popularity of minimally invasive pediatric surgeries because they allow for safer, more accurate interventions with fewer post-surgical complications. Pediatric medical devices play a key role in these surgeries by enabling accurate access, visualization, and manipulation of the pediatric anatomy using small incisions. This contributes to the safe and efficient treatment of pediatric issues with minimal damage to surrounding tissues. For example, Washington University in St. Louis, a private university in the US, shared in March 2023 that the number of operations room cases featuring minimally invasive surgery grew from 2,208 in 2021 to 2,400 in 2022. This significant growth of 192 cases within a year underlines the increased demand for minimally invasive pediatric surgical procedures, and in turn, is fueling the expansion of the pediatric medical devices market.
What Are The Key Segments Within The Global Pediatric Medical Devices Market?
The pediatric medical devices market covered in this report is segmented –
1) By Product: Cardiology Devices, In Vitro Diagnostic (IVD) Devices, Diagnostic Imaging Devices, Anesthesia And Respiratory Care Devices, Neonatal Intensive Care Unit (ICU) Devices, Other Products
2) By Age Group: Infants, Children, Adolescents
3) By End-User: Hospitals, Diagnostic Laboratories, Ambulatory Surgical Centers, Other End-Users
Subsegments:
1) By Cardiology Devices: Pediatric ECG Machines, Pediatric Defibrillators, Pediatric Pacemakers, Pediatric Stethoscopes
2) By In Vitro Diagnostic (IVD) Devices: Blood Glucose Monitoring Devices, Point-Of-Care Testing Devices, Molecular Diagnostic Devices, Immunoassay Analyzers
3) By Diagnostic Imaging Devices: Pediatric Ultrasound Machines, Pediatric X-Ray Machines, Pediatric MRI Machines, Pediatric CT Scanners
4) By Anesthesia And Respiratory Care Devices: Pediatric Ventilators, Pediatric Anesthesia Machines, CPAP Devices For Pediatrics, Oxygen Concentrators For Pediatrics
5) By Neonatal Intensive Care Unit (ICU) Devices: Neonatal Incubators, Neonatal Ventilators, Neonatal Monitoring Devices, Phototherapy Devices
6) By Other Products: Pediatric Surgical Instruments, Pediatric Infusion Pumps, Pediatric Monitoring Devices, Pediatric Rehabilitation Devices
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How Are Emerging Trends Reshaping The Dynamics Of The Pediatric Medical Devices Market?
Prominent firms in the pediatric medical devices market are innovating orthopedic implants to cater to the specific healthcare requirements of pediatric patients, from musculoskeletal disorders to innate abnormalities. Orthopedic implants are health devices designed to replace or uphold absent or impaired bone or joint structures in the musculoskeletal system. For instance, OrthoPediatrics Corporation, a medical device firm based in the USA, introduced the RESPONSE Rib and Pelvic Fixation system in March 2024, designed specifically for pediatric patients suffering from Early Onset Scoliosis (EOS). This all-inclusive system encompasses implants, tools, and connecting appliances, offering surgeons a multipurpose solution for rib and pelvic fixation, including provisions for patients prone to Thoracic Insufficiency Syndrome. The system, packed with features like a variety of implant choices, streamlined designs, and locking methods, escalates accuracy and flexibility in treating EOS instances.
Who Are the Key Players In The Pediatric Medical Devices Market?
Major companies operating in the pediatric medical devices market are:
• Cardinal Health Inc.
• Johnson & Johnson
• Siemens AG
• F. Hoffmann-La Roche Ltd.
• Abbott Laboratories
• Medtronic plc
• Siemens Healthineers
• Koninklijke Philips N.V.
• Becton Dickinson and Company
• Strykar Healthcare
• GE HealthCare Technologies
• Baxter International Inc.
• Boston Scientific Corporation
• Zimmer Biomet Holdings Inc.
• Olympus Corporation
• Terumo Corporation
• Smith & Nephew plc
• Hamilton Medical
• Ningbo David Medical Device Co. Ltd.
• Phoenix Medical Systems Pvt Ltd.
• Fritz Stephan GmbH
• Trimpeks
• Atom Medical Corporation
• Elektro-Mag
• Novonate Inc.
What Are The Regional Insights Into The Pediatric Medical Devices Market?
North America was the largest region in the pediatric medical devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pediatric medical devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
