Market Snapshot:
Pediatrics is a branch of medicine that deals with treatment and diagnosis and treatment of diseases related to the pediatric group. The branch can be classified into the four major categories namely neonates (from birth till the first 28 days of life), infants (29 days to 2 years), children (2 years to 12 years) and adolescents (12 years to 18 years). The pediatrician is a medical professional who specializes in offering to treat the pediatric group. Pediatric medical devices are used for the treatment and care of infants and children below 18 years having some healthcare issues. Many of the pediatric medical devices are specially designed and developed for children, but in some cases, adult devices are also used.
Highlights from Pediatric Medical Device Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.6% |
The key Players profiled in the report are Abbott Laboratories (United States), Boston Scientific Corporation (United States), Baxter International, Inc. (United States), Medtronic plc (Ireland), Cardinal Health, Inc. (United States), F. Hoffmann-La Roche Ltd. (Switzerland), GE Healthcare (United States), Johnson & Johnson (United States), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands) and Stryker Corporation (United States). Additionally, other players that are part of this comprehensive study are CorInnova (United States), Green Sun Medical (United States), Hub Hygiene (United States), NAVi Medical Technologies (United States), Prapela LLC (United States) and X-Biomedical Inc. (United States).
Geographic Breakdown and Segment Analysis
The Global Pediatric Medical Device market presents a comprehensive analysis of the Pediatric Medical Device market by product type (In Vitro Diagnostic (IVD) Devices, Diagnostic Imaging Devices, Telemedicine, Anesthesia and Respiratory Care Devices, Neonatal ICU Devices, Cardiology Devices, Monitoring Devices and Others), by end-user/application (Hospitals, Diagnostic Laboratories and Ambulatory Surgical Centers), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Pediatric Medical Device industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Pediatric Medical Device market
Analyst at AMA have segmented the market study of Global Pediatric Medical Device market by Type, Application and Region.
Market Growth Drivers:
Growing the Prevalence of Infectious Diseases among the Pediatric Population, Rising Number of Initiatives taken by the Regulatory Organization and Increasing Pediatric Hospital over the Globe
Restraints:
Lack of Awareness about the Medical Devices Designed for the Infants
Opportunities:
Government Initiatives for Incentivizing Manufacturers
On 6 March 6, 2018, Abbott announced the United States Food and Drug Administration (FDA) approved the Masters HP 15mm rotatable mechanical heart valve, the world's smallest mechanical heart valve, that will allow doctors to treat babies and toddlers in need of a mitral or aortic valve replacement. Until today, surgeons could only use a range of larger-sized valves to replace a pediatric heart valve that could not be repaired, and larger valves are often not suitable given the smaller size of children's hearts. This dime-sized new valve is the first and only pediatric mechanical heart valve developed for newborns and infants and offers hope for pediatric patients in urgent need of treatment who have no other approved options.
Regulatory Insights:
To encourage device innovation for medical conditions that impact small populations, including pediatric populations, the Federal Food, Drug, and Cosmetic Act (FD&C Act) includes the Humanitarian Use Device (HUD)/Humanitarian Device Exemption (HDE) pathway. The program provides a marketing pathway for devices intended to benefit patients in the treatment or diagnosis of a disease or condition that affects or is manifested in not more than 8,000 individuals in the US per year. Since 2008, the year Congress began requiring annual Pediatric Medical Device Reports, 29 devices have been approved through the HUD/HDE pathway. Seven of those have a pediatric indication, and 4 are indicated only in pediatric populations.
Key Target Audience
Pediatric Medical Device Manufacturers, Pediatric Medical Device Sub Component Manufacturers, Pediatric Medical Device Traders/Distributors, Pediatric Medical Device Importer/Exporter, Regulatory & Government Bodies, End Users and Others