Pediatric Ultrasound Market By Age Group (Newborns, Infrants, Toddlers, Pre-Schoolers, School-Aged Childrens, Adolescents), By Modality (Handheld Ultrasound, Cart-Based Ultrasound), By End User (Hospitals, Specialized Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030
The global pediatric ultrasound market was valued at $349.0 million in 2020 and is projected to reach $564.9 million by 2030, growing at a CAGR of 4.7% from 2020 to 2030.
Pediatric ultrasound for cardiology, also known as echocardiograph, is done for attaining a complete view of congenital and acquired heart diseases in children. Echocardiographic evaluation gives detailed information of numerous lesions present in the pediatric heart. Ultrasound waves or sound waves are used to develop different images of heart, and a Doppler test is done to measure the speed and direction of blood flow. These two tests are combined and used by the pediatric cardiologist or pediatric sonographer to learn aspects regarding the functioning of the heart and its anatomy. Echocardiography is the most common test used in children to diagnose or rule out heart disease and also to follow children who have already been diagnosed with a heart problem. This test can be performed on children of all ages, including fetuses and newborns to adolescents. The global pediatric ultrasound market is a growing industry, mainly due to the large number of technological advancements (such as 3D & 4D imaging) in ultrasound systems, increased prevalence & incidence rate of cardiac diseases in children, and rise in awareness for early disease diagnosis.
Rise in incidents of chronic heart diseases in children, technological advancements, and surge in the emphasis on early prevention are some of the major factors that drive the pediatric ultrasound market. However, dearth of experienced sonographers and technological limitations of ultrasound to scan obese patients is expected to hamper the pediatric ultrasound market growth. Approximately, one out of every four newborns undergo an ultrasound examination for the confirmation of proper functioning of heart. In adolescents, abnormal heart rhythms and infectious endocarditis are frequently seen. The cause is mainly an inactive lifestyle, bad food habits, and stress. A rapid growth was observed in the shipments of these devices to provide improved healthcare services in emerging nations. This is anticipated to offset the challenging conditions in mature markets, such as North America and Europe.
Major players such as Esaote SpA, General Electric Company, Fujifim Holdings Corporation and others have adopted product launch strategy to improve their product portfolio to maintain competition in the market. For instance, in May 2021, Esaote SpA launched the new MyLab X75 ultrasound system. MyLab™X75 offers access to specific clinical solutions such as micro-vascularization assessment, liver stiffness quantification as well as Zero-Click left ventricle functional analysis. This is projected to improve the product portfolio of the company. Such instances are expected to provide lucrative opportunities for the major players for the growth of the market.
The COVID-19 pandemic forced many companies in the global Pediatric Ultrasound market to halt business operations for a short term to comply with new government regulations to curb the spread of the disease. This halt in operations directly impacts revenue flow of the global Pediatric Ultrasound market. In addition, there is a halt in manufacturing of industrial products owing to lack of raw materials and manpower in the lockdown period. Further, no new consignments are received by companies that operate in this sector. Hence, halt in industrial activities and lockdowns for several months has affected the global Pediatric Ultrasound market and the market is anticipated to witness a slow recovery during the forecast period.
However, dearth of skilled and experienced sonographers worldwide is a major factor that restrains the pediatric ultrasound market growth.
The pediatric ultrasound market is segmented on the basis of age group and region. By age group, the market is divided into segments such as, newborns (0–4 weeks), infants (4 weeks to 1 year), toddlers (1–3 years), preschoolers (4–6 years), school-aged children (6–13 years), and adolescents (13–19 years). In 2020, newborn segments generated highest revenue, together accounting for about 27.6% of the total market. The use of ultrasound devices for cardiology examinations is continuously increasing for adolescents, which makes it the fastest growing segment, registering a CAGR of 5.6% during the forecast period. This is mainly due to increase in the prevalence of high blood pressure, smoking, and obesity among adolescents, which ultimately leads to cardiac disorders.
On the basis of region, the pediatric ultrasound market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific witnessed the highest revenue growth, followed by Europe. LAMEA is predicted to grow faster than Asia-Pacific with a CAGR of 6.9% during the forecast period.
COMPETITION ANALYSIS
The key companies operating in the Pediatric Ultrasound market are General Electric Company, Koninklijke Philips N.V., Siemens AG, Samsung Medison Co. Ltd., Altaris Capital Partner LLC, Esaote SpA, Fujifilm Corporation, Konica Minolta Inc.., Mindray Medical International Limited, Samsung Electronics Co. Ltd., and Toshiba Corporation.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pediatric ultrasound market analysis from 2020 to 2030 to identify the prevailing pediatric ultrasound market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the pediatric ultrasound market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global pediatric ultrasound market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Age Group
Newborns
Infrants
Toddlers
Pre-Schoolers
School-Aged Childrens
Adolescents
By Modality
Handheld Ultrasound
Cart-Based Ultrasound
By End User
Others
Hospitals
Specialized Clinics
By Region
LAMEA
Latin America
Middle East
Africa
North America
U.S.
Canada
Mexico
Europe
Germany
Italy
France
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest Of Asia Pacific
Key Market Players
Advin Healthcare
Easote SpA
Fujifilm Corporation
General Electric Company
Alpinion Group
Koninklijke Philips N.V.
Mindray Medical International Limited
Samsung Medison Co. Ltd
Siemens AG
Sonoscape Medical Corp.
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