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Pediatric Medical Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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    Report

  • 110 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4986944
The pediatric medical devices market is expected to grow with a CAGR of nearly 8.7% over the forecast period.

The COVID-19 pandemic had an unprecedented health concern. As per the study "Pediatric COVID-19: Systematic review of the literature" published in October 2020, for pediatric patients that were tested positive for infection with SARS-CoV-2, approximately 14.9% of patients were asymptomatic. Patients presented with cough (48%), fever (47%), and sore throat/pharyngitis (28.6%), more commonly than with upper respiratory symptoms/rhinorrhea/sneezing/nasal congestion (13.7%), vomiting/nausea (7.8%) and diarrhea (10.1%). Thus, the high incidence of such diseases in pediatrics increased the demand for critical care, thereby positively impacting the learned market.

The major factor attributed to the growth of the market is the increasing prevalence of chronic diseases in the pediatric population like anemia, asthma, chickenpox, diphtheria, leukemia, measles, mumps, pneumonia, tuberculosis, and whooping cough, Lyme disease. According to the April report of UNICEF 2021, pneumonia kills more children than any other infectious disease, taking the lives of over 800,000 children under five, every year. This incorporates over 153,000 newborns. Pnuemonia is one of the leading chronic diseases which is highly prevalent in the pediatrics, thereby driving the demand for medical devices, thereby boosting the market.

Additionally, the launch of new products in the studied market will lead to significant growth of the market. For instance, in August 2020, United States Food & Drug Administration (FDA) clears Getinge’s Flow-e and Flow-c Anesthesia Systems which offers personalized anesthesia delivery for even the most challenging patients, from neonates and pediatric to the morbidly obese. Furthermore, in March 2020, the West Coast Consortium for Technology & Innovation in Pediatrics (CTIP) entered into a partnership with Nursing Innovation Hub, Inc. (NIHUB) to enable, inspire, and accelerate nurse-led technology and innovation to support pediatric medical device innovation.

Furthermore, the growing investments in research and development programs by the government to develop the medical infrastructure in the pediatric section is boosting the market growth. However, the lack of awareness of the pediatric medical devices available is the major drawback of market growth.

Key Market Trends


Neonatal ICU Devices Segment is Expected to Show Significant Growth Over the Forecast Period


Children who need treatment in the NICU are often transferred there in 24 hours after birth because of problems during delivery, premature birth or health complications after birth. Preterm birth is when a baby is born too early before 37 weeks of pregnancy. According to the November 2021 update by Center for Disease Control and Prevention, in 2020, preterm birth affected 1 of every 10 infants born in the United States. The preterm birth rate declined 1% in 2020, from 10.2% in 2019 to 10.1% in 2020. Preterm birth babies are more susceptible to diseases like sepsis, pneumonia, etc.

The above-mentioned source also suggested that in 2020, the rate of preterm birth among African-American women (14.4%) was about 50 percent higher than the rate of preterm birth among white or Hispanic women (9.1% and 9.8% respectively). Additionally, the launch of new products in the segment, will lead to lucrative growth of the market. For instance, in August 2019, InnAccel has launched SAANS - the world’s one of the first infrastructure-independent, portable, neonatal CPAP systems. It is built to provide breathing support to critically ill neonates with Respiratory Distress Syndrome (RDS) in resource-poor settings and during transporation.

Furthermore, in December 2020, Medtronic acquired SonarMed Inc. to launch SonarMed Airway Monitoring System for NICUs. This device is expected to improve standard of care for all babies requiring breathing assistance. Thus, such strategic initiatives by key market players will expand the product offerings in neonatal ICU segment, thus, driving the market.

Therefore, the above mentioned factors is expected to lead to significant growth of the segment, thus driving the market.



North America Dominates the Market and Expected to do Same in the Forecast Period


North America is expected to dominate the overall market, throughout the forecast period. The market growth is due to the factors such as the presence of key players, high prevalence of pediatric chronic diseases in the region, established healthcare infrastructure and launch of new products.

According to October 2021 update by Center for Disease Control and Prevention, in the United States, more than 40% of school-aged children and adolescents have at least one chronic health condition such as asthma, obesity, other physical conditions, and behavior/learning problems. The healthcare needs of children with chronic illness can be complex and continuous and includes both daily management and addressing potential emergencies. Therefore, the medical devices for pediatric are developed with the perspective of advanced care, which will significantly drive the market.

The product launches in the country will also boost the studied market in the country. For instance, in June 2021, Preceptis Medical, Inc. announced the launch of their next-generation Hummingbird Tympanostomy Tube System (TTS) for office-based pediatric ear tube procedures. The next-generation Hummingbird device features an enhanced ergonomic design that allows for a more efficient ear tube delivery in children. In March 2021, the U.S. Food and Drug Administration approved Harmony Transcatheter Pulmonary Valve (TPV) System to treat pediatric patients with a native or surgically-repaired right ventricular outflow tract (RVOT), the part of the heart that carries blood out of the right ventricle to the lungs. The device is designed for patients who have severe pulmonary valve regurgitation (blood leaking backward into the right lower chamber of the heart), a condition that often results from congenital heart disease.

Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase the market growth. In this region, the United States has the maximum share due to supportive healthcare policies, the high number of patients, and a developed healthcare market.



Competitive Landscape


The pediatric medical devices market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are TSE MEDICAL, DAVID, Hamilton Medical, GE Healthcare, Fritz Stephan GmbH, Phoenix Medical Systems, Novonate Inc., Elektro Mag, Trimpeks, Atom Medical Corp.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Infectious Diseases among the Pediatric Population
4.2.2 Development of Health Care Infrastructure for Pediatric Health Issues
4.3 Market Restraints
4.3.1 Challenges to Pediatric Device Development and Low Addressable Market
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Product
5.1.1 IVD Devices
5.1.2 Cardiology Devices
5.1.3 Anesthesia & Respiratory Care Devices
5.1.4 Neonatal ICU Devices
5.1.5 Monitoring Devices
5.1.6 Others
5.2 By End-User
5.2.1 Hospitals
5.2.2 Diagnostic Laboratories
5.2.3 Pediatric Clinics
5.2.4 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 TSE MEDICAL
6.1.2 Ningbo David Medical Device Co. Ltd
6.1.3 Hamilton Medical
6.1.4 GE Healthcare
6.1.5 Fritz Stephan GmbH
6.1.6 Phoenix Medical Systems Pvt Ltd
6.1.7 Novonate Inc.
6.1.8 Elektro-Mag
6.1.9 Trimpeks
6.1.10 Atom Medical Corporation
6.1.11 Abbott
6.1.12 Medtronic PLC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

Companies Mentioned

A selection of companies mentioned in this report includes:

  • TSE MEDICAL
  • Ningbo David Medical Device Co. Ltd
  • Hamilton Medical
  • GE Healthcare
  • Fritz Stephan GmbH
  • Phoenix Medical Systems Pvt Ltd
  • Novonate Inc.
  • Elektro-Mag
  • Trimpeks
  • Atom Medical Corporation
  • Abbott
  • Medtronic PLC

Methodology

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