Pediatric Medical Devices Market on Track to Reach $47.4 Billion by 2031: Driven by Advances in Medical Devices and Digital Solutions at 6.3% CAGR: TMR Analysis

Key market players are leveraging advanced technologies and introducing innovative products to expand their offerings, including the use of artificial intelligence to monitor multiple asthma biomarkers in pediatric patients.

Wilmington, Delaware, United States, Transparency Market Research. Inc., July 5, 2024 (GLOBE NEWSWIRE) — Global the market for medical products for children It was predicted to reach USD 27.6 billion in 2022The compound annual growth rate is expected to be 6.3% during 2023-2031 and the market is likely to reach 6.3% by 2031. 47.4 billion US dollars until 2031.

The pediatric medical device market (소아 의료기기 시장) is supported by networks such as the NIHR HRC in Pediatrics and the AAP, which promote collaboration between healthcare professionals, children and families. These networks accelerate the development and implementation of new pediatric medical devices, providing scalable solutions for commercial sectors. Advances in digital health and data analytics are further enabling the collection of extensive national and international data, increasing insight into child development, growth and disease beyond the traditional boundaries of healthcare.

Technology innovations like Arc Viewer at Rady Children’s Hospital-San Diego, a 3D model viewing software that launched July 1, 2024, are an example of advances in pediatric healthcare. Built on the Unity platform, Arc Viewer allows clinicians around the world to interact with virtual 3D reconstructions of patient anatomy, significantly increasing diagnostic accuracy and treatment planning capabilities.

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Key findings of the market report

• Pediatric medical devices are useful in detecting many childhood diseases, including anemia, asthma, leukemia, measles, mumps, pneumonia, and tuberculosis.

• Various diagnostic imaging technologies are used to assess the health of internal organs and detect abnormalities and infections.

• The increased use of AI in childhood asthma management is expected to drive revenue growth in the pediatric medical device industry in the near future.

• Incorporating AI into childhood asthma management can improve disease surveillance, early intervention, and treatment outcomes for children with asthma.

Market Trends for Pediatric Medical Devices

• Pediatric medical devices are useful in identifying various childhood diseases, including anemia, asthma, leukemia, measles, mumps, pneumonia, and tuberculosis. Various diagnostic imaging technologies are used to assess the health of internal organs and detect abnormalities and infections.

• A baby is considered premature if it is born before 37 weeks of pregnancy. Premature birth can be caused by prenatal complications, persistent health problems such as high blood pressure, physical or traumatic injuries, and diabetes.

• Neonatal medical devices are used to monitor babies who were born prematurely or who have health problems after birth. These devices have three adhesive wires that are placed on the baby’s skin to monitor heart rate and breathing. To determine the baby’s oxygen levels, a saturation probe is placed in the baby’s hand or foot.

The story continues

Global Pediatric Medical Devices Market: Regional Perspectives

• North America held a huge market share in 2022. Increased investments in research and development as well as the use of modern radiological technologies are among the major factors driving the regional market dynamics.

• Technological advances and frequent product releases by industry participants are increasing market share in pediatric medical devices in North America. Medtronic plc began selling the SonarMed Airway Monitoring System in the United States in May 2021.

• The device uses acoustic technology to assess endotracheal tube (ETT) obstruction and verify its position in real time, providing clinicians with critical information that allows them to make more informed decisions that save the lives of pediatric patients.

• The rise in preterm births and childhood diseases are driving the expansion pediatric medicine industry in North America.

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Global Pediatric Medical Devices Market: Key Players
The global pediatric medical device market (小児医療機器) is extremely competitive, with many prospects for growth and innovation. Companies are expanding their neonatal medical device portfolio through various techniques, including mergers and acquisitions and new product development. The following companies are well-known participants in the global pediatric medical device market:

• Abbott

• Boston Scientific Corporation

• Baxter International, Inc.

• Medtronic

• Cardinal Health, Inc.

• F. Hoffmann-La Roche Sp.

• GE Healthcare

• Johnson & Johnson

• Siemens Healthinners

• Philips NV Contacts

• Stryker Corporation

The key changes introduced by players in this market are:

• In February 2024 Health AevikaSingapore-based company that makes revolutionary devices that help children breathe has teamed up with British company Jiva.ai to create a remote patient monitoring platform that allows asthma sufferers to track their condition and predict asthma attacks.

• In January 2022, Good Parents Inc., creator of the remote patient monitoring and continuous care platform for children Kiddo, announced that it had raised $16 million in expansion investment sponsored by Vive Collective, a Clearlake Capital subsidiary.

Global Pediatric Medical Devices Market Segmentation
Product

• In vitro diagnostic devices (IVD)

• Cardiology devices

• Imaging diagnostics equipment

• Anesthesia and respiratory care devices

• Neonatal ICU Equipment

• Monitoring devices

• Telemedicine

• Home medical devices

End User

Region

• North America

• Latin America

• Europe

• Asia and Pacific

• Middle East and Africa

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