Global Pediatric Medical Devices Market by Product (Cardiology Devices, In Vitro Diagnostic Devices, Diagnostic Imaging Devices, Anesthesia & Respiratory Care Devices, Neonatal ICU Devices, Monitoring Devices, and Other Products), By End User (Hospitals, Pediatric Clinics, Research & Academic Institutes, Diagnostic Laboratories, and Other End Users), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2022, the Global Pediatric Medical Devices Market was valued at USD 30.4 Billion. Between 2023 and 2032, this market is estimated to register a CAGR of 9%. It is expected to reach USD 70.7 Billion by 2032.

The increased demand for pediatric medical equipment and increasing chronic diseases among the children such as respiratory disease and asthma are some of the factors that are expected to drive the growth of the market over the forecast period. The COVID-19 pandemic had a major effect on the pediatric medical device market. Medical device companies have produced facilities globally and some of these have been closed due to this pandemic.

Because of the lockdown transportation of medical devices is being let, creating a supply shortage for many critical medical devices. The necessity of these medical devices increased during the pandemic, and the restrictions on the supply and delivery of medical devices were lifted.

*Actual Numbers Might Vary In The Final Report

Key Takeaways

• Specialized Devices for Pediatric Use: Pediatric medical devices are specifically tailored to accommodate children’s unique anatomical and physiological characteristics, offering diagnostic equipment, surgical instruments, monitoring devices and more to meet those specific requirements.
• Unique Patient Needs: Children have different healthcare requirements than adults; as their bodies change as they mature and develop, pediatric devices must adapt accordingly. Therefore, pediatric devices tend to be smaller, age-appropriate devices which aim at being noninvasive where possible.
• Pediatric Devices have Numerous Uses: Pediatric devices have many healthcare applications for neonatal care, cardiology and orthopedics to respiratory therapy dentistry and oncology – meeting all their patients’ needs in each specialty field.
• Incentivations for Development: Some governments and regulatory bodies provide incentives for the creation of pediatric medical devices. For instance, U.S. Pediatric Device Consortia (PDC) and Humanitarian Device Exemption (HDE) programs offer support in order to foster innovation within this sector.
• Growing Market: As pediatric population levels expand, so too do pediatric medical device markets. This growth can be explained by an increasing prevalence of diseases and disorders requiring special treatments and monitoring, necessitating more sophisticated solutions than before.

Driving Factors

Increasing Prevalence of Pediatric Chronic Diseases: Diabetes, asthma, and congenital heart defects are among the chronic illnesses that are becoming more common in children around the world. As a result, there is a greater demand for medical devices designed especially for children.

Technological Advancements: Technological development are approving the creation of smaller, more sophisticated medical devices that are simpler to use and less invasive. This allows for more accurate diagnosis and treatment of children’s medical problems.

Increasing Investment in Pediatric Medical Device Research: There is a growing investment in pediatric medical device research and development, which is leading to the development of innovative products that cater especially to the requirements of children.

Restraining Factors

Limited Market Size: Because the pediatric medical device industry is smaller than the adult market, companies may be less inclined to invest in pediatric device research and development.

Economic Factor: Economic factors such as limited healthcare budgets and return policies can also restrict the growth of the pediatric medical device market. In some cases, the cost of pediatric medical devices can be a barrier for patients and healthcare providers.

Lack of Awareness: Many healthcare providers and parents are not aware of the availability and benefits of pediatric medical device. This can lead to the underutilization of pediatric medical devices, which can limit the growth and expansion of this market.

Product Analysis

In 2022, the in vitro diagnostic (IVD) devices category accounted for the largest revenue share. The market is segmented into, cardiology devices, anesthesia and breathing care devices, diagnostic imaging devices, in vitro diagnostic (IVD) devices, neonatal intensive care unit (NICU) devices, and other products. IVD Devices perform tests to recognize disease, condition, or infection. Due to their precision and accuracy, IVD products are used in approximately 70% of all hospitals and clinics.

The segment of anesthesia and respiratory care tool is anticipated to grow at the rate of 8.9% during the forecast period. This segment is growing because several respiratory diseases as obstructive sleep apnoea (OSA), and chronic obstructive pulmonary disease (COPD)  are rising among children. More than 25% of all pediatric consultations are for respiratory illnesses, according to research published in the Italian Journal of Pediatrics, with asthma accounting for the majority of cases.

End-User Analysis

As of 2022, the hospital sector had the highest revenue share of 40%. This segment is expected to grow due to the increasing number of pediatric patients that are admitted to the hospital and the increasing demand for medical devices that provides better treatment for pediatric diseases. A study published in the National Library of Medicine found that every year, over 2 million children are admitted to hospitals in the US,  which account for 40% of pediatric healthcare spending.

Over the forecast period, the pediatric clinics’ sector is expected to grow at an 8.5% CAGR. The fact that these clinics are mainly focused on pediatric care can be assigned to their expansion. Pediatric clinics deliver the most recent clinical data on children’s and adolescents’ health problems. It provides an exhaustive range of services to guarantee that a child grows up healthy. These clinics also offer a complete schedule of check-ups, vaccinations, and general child development.

Key Market Segments

Based on Product

• Cardiology Devices
• In Vitro Diagnostic Devices
• Diagnostic Imaging Devices
• Anesthesia &Respiratory Care Devices
• Neonatal ICU Devices
• Monitoring Devices
• Other Products

Based on End-User

• Hospitals
• Pediatric Clinics
• Research & Academic Institutes
• Diagnostic Laboratories
• Other End Users

Growth Opportunity

There is a significant need for medical devices that are specifically designed and tested for use in the treatment of children’s medical issues. Many medical devices currently used for children are adapted from the devices that are used for adults, which may not be ideal for their smaller size or unique needs. Developing innovative pediatric medical devices can help to fill these gaps and improve the care and outcomes for pediatric patients.

Advances in technology, such as miniaturization, sensor technology, and data analytics, are opening up new possibilities for pediatric medical devices. These technologies can make devices more user-friendly, accurate, and effective, while also reducing costs

Emerging markets represent a significant opportunity for growth in the pediatric medical device market. Emerging economies have growing populations and increasing healthcare needs, but often lack access to appropriate medical devices. Developing affordable and effective pediatric medical devices for these markets can help to improve healthcare outcomes for millions of children.

Latest Trends

The rising frequency of chronic and infectious illnesses among children, like anemia, asthma, chickenpox, mumps, pneumonia, tuberculosis, diphtheria, leukemia, measles, whooping cough, and Lyme disease, is driving the market. This has resulted in a significant increase in demand for advanced technologies for precise diagnosis of such conditions, fueling market expansion. Furthermore, the increasing use of 3D medical imaging equipment in pediatric radiology is positively affecting the market on a global scale. Furthermore, rising preterm birth rates are consequential adding to market expansion.

Various technological developments and the widespread adoption of portable devices for home healthcare services are also driving the market. Furthermore, favorable initiatives undertaken by governments across the world, the introduction of appealing medical reimbursement programs, and growing investments in research and development (R&D) activities by several key players are some of the other factors driving the market.

Regional Analysis

In 2022, North America led the market with a revenue share of 38.3%. The rising prevalence of pediatric chronic diseases in the region, such as cancer, asthma, leukemia, congenital heart disease, and others, as well as advanced medical devices, are driving the market growth. According to Centers for Disease Prevention data and control, more than 40% of school-aged children have at least one chronic condition that affects teenagers.

Over the forecast period, the Asia Pacific region is anticipated to have the highest growth. The expansion is to blame for the large population and the high prevalence of ailments in children, such as kidney disease and birth defects. The wealth status for affording healthcare services and the shortage of expert medical services in rural areas are the factors responsible for the rise of chronic diseases.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

Product launches, strategic collaboration, and acquisitions and mergers are all strategies used by market players. The pediatric medical devices business is crowded with both large and small players. whom all add to the growth of the industry as a whole. These market participants’ primary efforts include distribution channel enhancement and cooperation with other industry stakeholders.

For example, GE Healthcare disclosed a $1 million donation of monitoring tools and ultrasound to Ukraine in November 2022, noting the conflict’s heavy toll on the country’s healthcare system. The company will sell patient monitoring gadgets that will measure the pulse rate of pediatric and adult patients.

Market Key Players

• TSE Medical
• Ningbo David Medical Device Co.Ltd.
• Hamilton Medical
• GE Healthcare
• Fritz Stephan Gmbh
• Phoenix Medical Systems Pvt. Ltd.
• Novonate Inc.
• Trimpeks
• Atom Medical Corporation
• Abbott Laboratories
• Medtronic PLC
• Baxter
• Stryker Corporation
• Philips Healthcare
• Siemens Healthineers
• Boston Scientific Corporation
• Hoffmann-La Roche Ltd.
• Other Key Market Players

Recent Developments

• In February 2022, Masimo received United States Food and Drug Administration clearance for its SedLine monitoring and SedLine pediatric EEG sensor.
• In May 2020, Abbott announced the U.S. Food and Drug Administration (FDA) approved updated labeling for the company’s HeartMate 3 heart pump to be used in pediatric patients with advanced refractory left ventricular heart failure.

Report Scope