Pediatric Medical Devices are medical devices utilized for the management and treatment of infants and children below 18 years with some health issues. Majority of these medical devices are specially designed and manufactured for infants and children, but in some cases these devices are used for adult also.
Global Market of Pediatric Medical Device is expected to grow at a CAGR of approximately 10.5% during the forecast period 2017-2023. The global pediatric medical devices market is growing immensely due to rising occurrence of disease among children, increasing child bearing age among women, high number of children with heart diseases, increasing growth in number of pediatric hospitals and clinics.
Furthermore, initiatives by the government and regulatory organization are influencing the market growth. For example, FDA has taken initiatives like they are collaborating with the Institute of Medicine for the success of post-market surveillance of pediatric medical devices to enhance the development and availability of safe and effective pediatric medical devices.
While there are few factors that hamper the growth of the market such as lack of significant biocompatibility and safety criteria for the medical devices have restrained the growth of market. Moreover, devices that can provide appropriate care to the pediatric patients is one of the other major restraint for the market.
Pediatric Medical Device Market – Key Players
Key players in Pediatric Medical Device Market are
- Abbott (U.S)
- General Electric Company (U.S)
- Johnson & Johnson Private Limited (U.S)
- Medtronic (Ireland)
- Siemens AG (Germany)
- Koninklijke Philips N.V. (Netherland)
- Novamed (U.S)
- Phoenix Medical Systems USA (U.S)
- Phoenix Medical Systems (P) Ltd. (India)
- Pega Medical (U.S)
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Pediatric Medical Device Market – Segmentation
Global Pediatric Medical Device Market has been segmented on the basis of type of devices which includes infant caps, infant incubators, bili lights, newborn hearing screener, infant warmer, cranial orthosis, atrial septal defect occlude, cerebrospinal fluid shunt, others. Other devices include pulse oximeter for infants and automated external defibrillator. On the basis of end users, the market is segmented into hospitals, pediatric clinics and others.
August 2018 – Children with autism will now benefit from a new invention called Google Glass. Stanford researchers have integrated the augmented reality glasses with an app that uses artificial intelligence to identify faces and facial expressions in a child’s field of vision. The glass then proceeds to show the child an emoji of the correct expression.
Medtronic is a one of the global healthcare solutions provider company, involved in improving lives of individuals through its medical technologies, services, and solutions. Medtronic in January 2015 announced the acquisition of Covidien. With this acquisition the company will enhance its medical device product. Covidient includes various pediatric medical device such as Pediatric Collection Devices, Pediatric Urology Accessories, Pediatric Latex Foley Catheters and various others. These products will further enhance the revenue for Medtronic.
Furthermore, in October 2016, Medtronic is the first company to get an approval for its suite of cardiac rhythm and heart failure devices, it leads to be scanned in both 3 and 1.5 Tesla (T) magnetic resonance imaging (MRI) machines. This development provides patients with Medtronic implantable cardioverter-defibrillators (ICDs), SureScan MR-conditional pacemakers, and cardiac resynchronization therapy-defibrillators (CRT-Ds) and leads access to MRI scans on any part of the body.
Pediatric Medical Device Market – Regional Analysis
Globally, pediatric medical device market consists of four regions Americas, Europe, Asia Pacific and Middle East & Africa.
America is the largest market for pediatric medical devices market whose growth is attributed to availability of wide range of pediatric medical devices, rise in child bearing age among women, and high incidence of chronic illness among children.
Europe is the second largest market owing to high prevalence of obesity & other disorders among children as well as availability of funds for research and development activities in healthcare.
Asia Pacific shows steady but positive growing owing to increasing awareness regarding child health among women and increasing demand of pediatric medical devices.
Middle East & Africa is expected to show high growth in this market due to high prevalence of malnutrition among children and government initiatives to tackle it.
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