Growing occurrences of chronic conditions in infants and children, among others, is one of the significant factors influencing the market growth.
The global pediatric market is expected to reach USD 11.90 Billion by 2027, according to a new report by Reports and Data. Growing occurrences of chronic conditions in infants and children, among others, is one of the significant factors influencing the market growth. The incidence of chronic conditions is increasing in most developed and developing nations and is expected to be responsible for the major cause of death in the coming years. Amongst children, and particularly among adolescents, increased life expectancy owing to better hygiene, nutrition, and control of communicable diseases is creating an epidemiologic transition where non-infectious diseases, such as chronic diseases and disability, are evolving as significant health problems. As per the National Center for Health Statistics, 3.2% of children remain absent for 11 or more days from school per year owing to illness or injury. It was observed that 17.4% of children are obese and 4% of children face a dearth of a usual source of healthcare and the death rate amongst children aged between 5 to 14 years is 12.7 per 100,000 and the major reasons of death in such children comprise cancer, accidents, and voluntary self-harm.
The rapid technological advancements in imaging modalities are driving the growth of the pediatric imaging market. X-rays witness highest order volume, whereas ultrasound and MRI, specifically, are making swift growth. For instance, ultrasound offers a number of benefits comprising an enhanced definition of organs and structures, radiation-free visualization, and the ability to use higher-frequency transducers. A novel practice in ultrasound in pediatric imaging is the deployment of elastography, which uses sound waves to evaluate tissue stiffness and is mainly useful for the detection of cancer, as tumors are frequently characterized by harder tissue.
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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply & demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key companies profiled in the report include:
Toshiba Medical Systems Corporation, Siemens Healthineers, Agfa Healthcare, GE Healthcare, Fujifilm Holdings Corporation, Carestream Health Inc., Philips Healthcare, Mindray Medical International Limited, Samsung Medison Company Limited, and Koninklijke Philips N.V., among others.
Market Segmentation by Types:
Imaging Type Outlook (Revenue, USD Million; 2017-2027)
- Magnetic Resonance Imaging (MRI)
- Positron Emission Tomography-Computed Tomography (PET-CT)
Application Outlook (Revenue, USD Million; 2017-2027)
End-Users Outlook (Revenue, USD Million; 2017-2027)
- Hospitals & Clinics
- Diagnostics Center
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Pediatric Imaging market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Further key findings from the report suggest
- By imaging type, magnetic resonance imaging (MRI) contributed to the largest market share in 2019. MRI finds application in diagnosing extensive conditions in children owing to illness, injury, or congenital abnormalities. Moreover, when the diagnosis of a child's spinal cord and the brain is required, MRI is beneficial owing of its ability to view through the skull and spine without the need for radiation.
- By application, orthopedics contributed to the largest market share in 2019. Orthopedic problems are quite common in children and may be developmental, congenital, or acquired, comprising those of neuromuscular, infectious, neoplastic, nutritional, and psychogenic origin.
- By end-users, diagnostic centers are estimated to grow at the fastest rate of 7.9% in the forecast period. Medical imaging of pediatric patients at diagnostic centers provides various benefits as these centers have requisite laboratory equipment and skilled staff as well as medical personnel that helps them in the process of recognizing diseases in a patient who is having specific symptoms or signs.
- North America held the largest market share in 2019 and is likely to grow at a rate of 6.6% in the forecast period. The market dominance of North America is owing to rapid technological advancements, such as the growing incidence of target diseases, the development of molecular imaging, and the launch of new radiopharmaceuticals for diagnosis, among others.
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