The global pediatric ultrasound market was valued at $349.0 million in 2020 and is projected to reach $564.9 million by 2030, growing at a CAGR of 4.7% from 2020 to 2030.
Pediatric ultrasound for cardiology, also known as echocardiograph, is done for attaining a complete view of congenital and acquired heart diseases in children. Echocardiographic evaluation gives detailed information of numerous lesions present in the pediatric heart. Ultrasound waves or sound waves are used to develop different images of heart, and a Doppler test is done to measure the speed and direction of blood flow. These two tests are combined and used by the pediatric cardiologist or pediatric sonographer to learn aspects regarding the functioning of the heart and its anatomy. Echocardiography is the most common test used in children to diagnose or rule out heart disease and also to follow children who have already been diagnosed with a heart problem. This test can be performed on children of all ages, including fetuses and newborns to adolescents. The global pediatric ultrasound market is a growing industry, mainly due to the large number of technological advancements (such as 3D & 4D imaging) in ultrasound systems, increased prevalence & incidence rate of cardiac diseases in children, and rise in awareness for early disease diagnosis.
Rise in incidents of chronic heart diseases in children, technological advancements, and surge in the emphasis on early prevention are some of the major factors that drive the pediatric ultrasound market. However, dearth of experienced sonographers and technological limitations of ultrasound to scan obese patients is expected to hamper the pediatric ultrasound market growth. Approximately, one out of every four newborns undergo an ultrasound examination for the confirmation of proper functioning of heart. In adolescents, abnormal heart rhythms and infectious endocarditis are frequently seen. The cause is mainly an inactive lifestyle, bad food habits, and stress. A rapid growth was observed in the shipments of these devices to provide improved healthcare services in emerging nations. This is anticipated to offset the challenging conditions in mature markets, such as North America and Europe.
Major players such as Esaote SpA, General Electric Company, Fujifim Holdings Corporation and others have adopted product launch strategy to improve their product portfolio to maintain competition in the market. For instance, in May 2021, Esaote SpA launched the new MyLab "X75 ultrasound system. MyLab™X75 offers access to specific clinical solutions such as micro-vascularization assessment, liver stiffness quantification as well as Zero-Click left ventricle functional analysis. This is projected to improve the product portfolio of the company. Such instances are expected to provide lucrative opportunities for the major players for the growth of the market.
The COVID-19 pandemic forced many companies in the global Pediatric Ultrasound market to halt business operations for a short term to comply with new government regulations to curb the spread of the disease. This halt in operations directly impacts revenue flow of the global Pediatric Ultrasound market. In addition, there is a halt in manufacturing of industrial products owing to lack of raw materials and manpower in the lockdown period. Further, no new consignments are received by companies that operate in this sector. Hence, halt in industrial activities and lockdowns for several months has affected the global Pediatric Ultrasound market and the market is anticipated to witness a slow recovery during the forecast period.
However, dearth of skilled and experienced sonographers worldwide is a major factor that restrains the pediatric ultrasound market growth.
The pediatric ultrasound market is segmented on the basis of age group and region. By age group, the market is divided into segments such as, newborns (0-4 weeks), infants (4 weeks to 1 year), toddlers (1-3 years), preschoolers (4-6 years), school-aged children (6-13 years), and adolescents (13-19 years). In 2020, newborn segments generated highest revenue, together accounting for about 27.6% of the total market. The use of ultrasound devices for cardiology examinations is continuously increasing for adolescents, which makes it the fastest growing segment, registering a CAGR of 5.6% during the forecast period. This is mainly due to increase in the prevalence of high blood pressure, smoking, and obesity among adolescents, which ultimately leads to cardiac disorders.
On the basis of region, the pediatric ultrasound market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific witnessed the highest revenue growth, followed by Europe. LAMEA is predicted to grow faster than Asia-Pacific with a CAGR of 6.9% during the forecast period.
The key companies operating in the Pediatric Ultrasound market are General Electric Company, Koninklijke Philips N.V., Siemens AG, Samsung Medison Co. Ltd., Altaris Capital Partner LLC, Esaote SpA, Fujifilm Corporation, Konica Minolta Inc.., Mindray Medical International Limited, Samsung Electronics Co. Ltd., and Toshiba Corporation.
Pediatric ultrasound for cardiology, also known as echocardiograph, is done for attaining a complete view of congenital and acquired heart diseases in children. Echocardiographic evaluation gives detailed information of numerous lesions present in the pediatric heart. Ultrasound waves or sound waves are used to develop different images of heart, and a Doppler test is done to measure the speed and direction of blood flow. These two tests are combined and used by the pediatric cardiologist or pediatric sonographer to learn aspects regarding the functioning of the heart and its anatomy. Echocardiography is the most common test used in children to diagnose or rule out heart disease and also to follow children who have already been diagnosed with a heart problem. This test can be performed on children of all ages, including fetuses and newborns to adolescents. The global pediatric ultrasound market is a growing industry, mainly due to the large number of technological advancements (such as 3D & 4D imaging) in ultrasound systems, increased prevalence & incidence rate of cardiac diseases in children, and rise in awareness for early disease diagnosis.
Rise in incidents of chronic heart diseases in children, technological advancements, and surge in the emphasis on early prevention are some of the major factors that drive the pediatric ultrasound market. However, dearth of experienced sonographers and technological limitations of ultrasound to scan obese patients is expected to hamper the pediatric ultrasound market growth. Approximately, one out of every four newborns undergo an ultrasound examination for the confirmation of proper functioning of heart. In adolescents, abnormal heart rhythms and infectious endocarditis are frequently seen. The cause is mainly an inactive lifestyle, bad food habits, and stress. A rapid growth was observed in the shipments of these devices to provide improved healthcare services in emerging nations. This is anticipated to offset the challenging conditions in mature markets, such as North America and Europe.
Major players such as Esaote SpA, General Electric Company, Fujifim Holdings Corporation and others have adopted product launch strategy to improve their product portfolio to maintain competition in the market. For instance, in May 2021, Esaote SpA launched the new MyLab "X75 ultrasound system. MyLab™X75 offers access to specific clinical solutions such as micro-vascularization assessment, liver stiffness quantification as well as Zero-Click left ventricle functional analysis. This is projected to improve the product portfolio of the company. Such instances are expected to provide lucrative opportunities for the major players for the growth of the market.
The COVID-19 pandemic forced many companies in the global Pediatric Ultrasound market to halt business operations for a short term to comply with new government regulations to curb the spread of the disease. This halt in operations directly impacts revenue flow of the global Pediatric Ultrasound market. In addition, there is a halt in manufacturing of industrial products owing to lack of raw materials and manpower in the lockdown period. Further, no new consignments are received by companies that operate in this sector. Hence, halt in industrial activities and lockdowns for several months has affected the global Pediatric Ultrasound market and the market is anticipated to witness a slow recovery during the forecast period.
However, dearth of skilled and experienced sonographers worldwide is a major factor that restrains the pediatric ultrasound market growth.
The pediatric ultrasound market is segmented on the basis of age group and region. By age group, the market is divided into segments such as, newborns (0-4 weeks), infants (4 weeks to 1 year), toddlers (1-3 years), preschoolers (4-6 years), school-aged children (6-13 years), and adolescents (13-19 years). In 2020, newborn segments generated highest revenue, together accounting for about 27.6% of the total market. The use of ultrasound devices for cardiology examinations is continuously increasing for adolescents, which makes it the fastest growing segment, registering a CAGR of 5.6% during the forecast period. This is mainly due to increase in the prevalence of high blood pressure, smoking, and obesity among adolescents, which ultimately leads to cardiac disorders.
On the basis of region, the pediatric ultrasound market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific witnessed the highest revenue growth, followed by Europe. LAMEA is predicted to grow faster than Asia-Pacific with a CAGR of 6.9% during the forecast period.
Competition Analysis
The key companies operating in the Pediatric Ultrasound market are General Electric Company, Koninklijke Philips N.V., Siemens AG, Samsung Medison Co. Ltd., Altaris Capital Partner LLC, Esaote SpA, Fujifilm Corporation, Konica Minolta Inc.., Mindray Medical International Limited, Samsung Electronics Co. Ltd., and Toshiba Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pediatric ultrasound market analysis from 2020 to 2030 to identify the prevailing pediatric ultrasound market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the pediatric ultrasound market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global pediatric ultrasound market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Age Group
- Newborns
- Infrants
- Toddlers
- Pre-Schoolers
- School-Aged Childrens
- Adolescents
By Modality
- Handheld Ultrasound
- Cart-Based Ultrasound
By End User
- Others
- Hospitals
- Specialized Clinics
By Region
- LAMEA
- Latin America
- Middle East
- Africa
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
Key Market Players
- Advin Healthcare
- Easote SpA
- Fujifilm Corporation
- General Electric Company
- Alpinion Group
- Koninklijke Philips N.V.
- Mindray Medical International Limited
- Samsung Medison Co. Ltd
- Siemens AG
- Sonoscape Medical Corp.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PEDIATRIC ULTRASOUND MARKET, BY AGE GROUP
CHAPTER 5: PEDIATRIC ULTRASOUND MARKET, BY MODALITY
CHAPTER 6: PEDIATRIC ULTRASOUND MARKET, BY END USER
CHAPTER 7: PEDIATRIC ULTRASOUND MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
The pediatric ultrasound market size was valued at $349.00 million in 2020, and is estimated to reach $564.90 million by 2030, growing at a CAGR of 4.7% from 2021 to 2030.Major drivers of the market include numerous technological advancements in ultrasound devices, increase in the prevalence & incidents rate of cardiac diseases, and upsurge in the number of ultrasound diagnostic imaging procedures particularly in pediatrics. Moreover, an ultrasound procedure is generally preferred for children, as there is no threat of exposure to ionizing radiation that may harm the tender body tissues (with repeated exposure) of infants. The use of ultrasound systems for cardiology has increased for adolescents, as they are more prone to heart diseases. The cause of these diseases is a physically inactive life style, bad food habits, and smoking. However, dearth of skilled and experienced sonographers worldwide is a major factor that restrains the market pediatric ultrasound market growth.
The pediatric ultrasound market analysis is done on the basis of age group, and region. By age group, the market is divided into segments such as newborns (0-4 weeks), infants (4 weeks to 1 year), toddlers (1-3 years), preschoolers (4-6 years), school-aged children (6-13 years), and adolescents (13-19 years). In 2020, newborn segments generated highest revenue, together accounting for about 27.6% of the total market. The use of ultrasound devices for cardiology examinations is continuously increasing for adolescents, which makes it the highest pediatric ultrasound market share, registering a CAGR of 5.6% during the forecast period. This is mainly due to increase in the prevalence of high blood pressure, smoking, and obesity among adolescents, which ultimately leads to cardiac disorders.
On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominated the market in 2020 owing to improvement in healthcare infrastructures and rise in expenditures in emerging markets (India and China) to overcome the unmet medical needs. Technological advancements to develop cost-effective devices in these nations offer a lucrative opportunity for market growth. The pediatric ultrasound market forecast from 2020 to 2030.
The key companies operating in the pediatric ultrasound market are General Electric Company, Koninklijke Philips N.V., Siemens AG, Samsung Medison Co. Ltd., Altaris Capital Partner LLC, Esaote SpA, Fujifilm Corporation, Konica Minolta Inc., Mindray Medical International Limited, Samsung Electronics Co. Ltd., and Toshiba Corporation.
Several manufacturers in the global pediatric ultrasound industry stopped their business activities in 2020 due to lockdowns implemented in developed and developing countries owing to ban on industrial activities owing to the COVID-19 pandemic. This halt in production activities impacted the revenue of the Pediatric ultrasound market size. For instance, net sales of Konica dropped by 11.2% from April 2020 to March 2021. In addition, lack of man power and raw materials affected the supply chain of the global Pediatric ultrasound market. However, the market is projected to recover from the 1st quarter of 2023 due to reduced restrictions and reopening of the global Pediatric ultrasound industry. Moreover, in 2021, with the availability of vaccine against COVID-19, the market re-opened at full pace with the start of 2022.
KEY FINDINGS OF STUDY
- The report provides an extensive analysis of the current and emerging global pediatric ultrasound market trends and dynamics.
- By age group, the newborn segment dominated the market in terms of revenue in 2020.
- The report provides an extensive analysis of the trends and emerging opportunities of the market.
- In depth analysis of the global pediatric ultrasound market is conducted by constructing estimations for the key segments between 2020 and 2030.
Companies Mentioned
- Advin Healthcare
- Easote SpA
- Fujifilm Corporation
- General Electric Company
- Alpinion Group
- Koninklijke Philips N.V.
- Mindray Medical International Limited
- Samsung Medison Co. Ltd
- Siemens AG
- Sonoscape Medical Corp.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 195 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 349 million |
| Forecasted Market Value ( USD | $ 564.9 million |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
