Pediatric Medical Devices

Pediatric Medical Devices

Global Pediatric Medical Devices Market to Reach US$47.0 Billion by 2030

The global market for Pediatric Medical Devices estimated at US$29.7 Billion in the year 2023, is expected to reach US$47.0 Billion by 2030, growing at a CAGR of 6.7% over the analysis period 2023-2030. In Vitro Diagnostic (IVD) Devices, one of the segments analyzed in the report, is expected to record a 7.7% CAGR and reach US$12.3 Billion by the end of the analysis period. Growth in the Anesthesia & Respiratory Care Devices segment is estimated at 7.7% CAGR over the analysis period.

The U.S. Market is Estimated at US$8.1 Billion While China is Forecast to Grow at 10.9% CAGR

The Pediatric Medical Devices market in the U.S. is estimated at US$8.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$10.3 Billion by the year 2030 trailing a CAGR of 10.9% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.9% and 6.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.

Global Pediatric Medical Devices Market - Key Trends and Drivers Summarized

Pediatric medical devices are essential tools designed to diagnose, treat, and manage health conditions in children, from newborns to adolescents up to 21 years old. These devices include a broad range of equipment, from simple monitors to complex surgical implements specifically engineered to address the physiological and anatomical needs of growing bodies. The design and production of such devices are heavily regulated under the FD&C Act to ensure safety and effectiveness, tailored to the unique requirements of different pediatric subpopulations: neonates, infants, children, and adolescents. There`s a notable challenge in developing these devices due to the smaller market size and the high standards required for safety and efficacy. These challenges, along with the need for devices that accommodate rapid growth and activity levels of children, drive the demand for innovative solutions in pediatric healthcare technology.

The development and enhancement of pediatric medical devices are fueled by both necessity and legislative support, such as the Pediatric Medical Device Safety and Improvement Act (PMDSIA) and initiatives like the Pediatric Device Consortia (PDC) grant program. These initiatives aim to encourage the design and market introduction of pediatric-specific medical solutions by providing funding, regulatory support, and expert advice to manufacturers. Advances in technology such as 3D printing have begun to play a pivotal role, enabling the customization of devices to individual anatomical requirements and the rapid prototyping of new device designs. This technology not only allows for the creation of devices that grow with the child but also enhances the functionality and longevity of these devices. Additionally, real-world data (RWD) is increasingly being utilized to gather evidence from routine clinical care, helping overcome the lack of clinical trial data for pediatric populations and facilitating the development of devices that are both safe and effective for young patients.

The growth in the pediatric medical device market is driven by several factors, highlighting a shift towards more tailored, efficient, and effective treatments for younger patients. Technological advancements in device miniaturization allow for the development of smaller, less invasive devices specifically designed for children`s unique needs. There is also a growing focus on pediatric-specific research and innovation spurred by an increased incidence of chronic diseases among children, which necessitates ongoing monitoring and treatment. Parental demand for advanced treatments and the integration of digital health technologies are also significant growth drivers. Additionally, regulatory initiatives that facilitate faster approval and market entry for pediatric devices, along with educational initiatives aimed at healthcare providers, contribute significantly to the expansion of this sector. These factors collectively enhance the adoption and development of pediatric medical devices, ensuring that young patients receive the most advanced and appropriate care possible.

Select Competitors (Total 45 Featured) -

• Abbott Laboratories, Inc.
• Atom Medical Corporation
• Boston Scientific Corporation
• Cardinal Health
• Elektro-Mag Laboratuvar Aletleri Sanayi Ve Ticaret Anonim Sirketi (Elektro-Mag)
• Fritz Stephan GmbH
• GE Healthcare
• Hamilton Medical AG
• Laborie Medical Technologies Corp.
• Medtronic
• Ningbo David Medical Device Co. Ltd
• Siemens Medical Solutions USA, Inc.
• Stryker Corporation
• Trimpeks Ith. Ihr. Tur. ve Tic. A.S. (Vivocare)
• TSE MEDICAL;

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