Pediatric medical devices market to reach USD 47.4B by 2031

Transparency Market Research Inc. – The global pediatric medical devices market was projected to attain US$ 27.6 billion in 2022. It is anticipated to garner a 6.3% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 47.4 billion by 2031.

Pediatric medical devices are used to treat or diagnose conditions in children under the age of 21. Pediatrics is a specialty of medicine concerned with the health and medical treatment of infants, children, and adolescents.

These medical devices are designed with smaller body sizes, developmental stages, and the particular physiology of young patients in mind. Pediatric medical devices include in vitro diagnostic (IVD) devices, cardiology devices, diagnostic imaging equipment, anesthetic and respiratory care devices, neonatal intensive care unit devices, monitoring devices, telemedicine, and home-use medical devices.

Global market for pediatric medical devices: Regional outlook

• North America had an enormous market share in 2022. Increased investment in R&D, as well as the use of modern radiology technologies, are among the primary drivers driving the regional market dynamics.
• Advancements in technology and frequent product releases by industry participants are increasing the pediatric medical devices market share in North America. Medtronic plc began selling the SonarMed airway monitoring system in the United States in May 2021.
• The device uses acoustic technology to assess for endotracheal tube (ETT) blockage and verify position in real time, providing doctors with critical information to make better educated, life-saving decisions for pediatric patients.
• The rise in the number of preterm births and the frequency of pediatric disorders are fueling the expansion of the pediatric medical industry in North America.

Transparency Market Research