The global Pediatric Medical Device Industry Applicartion is growing pervasively, mainly due
to the innovations and new technologies. The emergence of futuristic pediatric
medical devices has revolutionized the childcare completely. What lightning
does to mushrooms, advancements in technology are doing to the Pediatric
Medical Device Industry Size, allowing it to flourish lavishly.
Besides, increasing
regulatory approvals and issued patents are accelerating the growth of the
market. According to Market Research Future (MRFR), the global Pediatric
Medical Device Industry Size is expected to garner exponential accruals by
2023. In its recently published research, MRFR also asserts that the market
would register a CAGR of over 10.5% throughout the forecast period (2017-2023).
Countries across the globe
have become extremely responsive towards child healthcare, which is a key
driving force behind the growth of the market. There are substantial funding
programs from the governments, delving into the financial, regulatory, and
design constraints associated with the developments of these devices.
Also, public and private
sectors make considerable investments to drive challenging endeavors of R&D
for the development of pediatric medical devices, treatments, and overall
healthcare. The successful combination of information technology (IT) and
healthcare catalyzes the overall growth of the market.
On the other hand, lack of
funds and stringent & unclear regulatory framework, alongside, the growing
data security are impeding the market growth, especially in underdeveloped and
developing regions. Nevertheless, favorable reimbursement policies, along with
the ongoing product developments & commercialisations would support the
market growth to an extent.
Global Pediatric
Medical Device Industry Size - Segments
The report is segmented into three dynamics to widen
the scope of understanding,
By Device
Type : Infant
Caps, New-born Hearing Screener, Cranial Orthosis, Infant Warmer,
Incubators, and Bililights, among others.
By
End-users : Hospitals
& Clinics, Pediatrician & Doctors, among others.
By
Regions : Europe, North America, APAC, and the
Rest-of-the-World (RoW).
Global Pediatric Medical Device Industry Size - Regional Analysis
North America dominates the global
Pediatric Medical Device Industry Size with a significant market share. The
region owns superior medical facilities and flourishing medical device sectors,
which impact the market growth, positively. Moreover, the rising prevalence of
juvenile diabetes and chronic diseases related to heart, digestive, and kidney
health among adolescents foster regional market growth.
Besides raising awareness about
adolescent health is creating a massive demand for medical devices in pediatric
hospitals and clinics. Factors such as huge technological advancements and the
enormous uptake of advanced medical devices led by the high per capita
healthcare expenditures are commutatively impacting the market growth, to an
extent.
The US market, led by the rising
obesity disorder among children accounts for a significant share in the North
American Pediatric Medical Device Industry Size. Furthermore, well-established
healthcare infrastructures, specially designed for childcare with their skilled
professionals & doctors, are pushing up the market growth in the region.
Europe stands second in the global
Pediatric Medical Device Industry Size, flowing the North American market
closely. The resurging economy in this region acts as a major tailwind behind
the regional market growth, availing the best possible child healthcare and
increasing healthcare expenditures. Additionally, government support fosters
market growth in the region, encouraging the manufacturers to develop new and
better devices.
The Pediatric Medical Device
Industry Size in the Asia Pacific region has emerged as a lucrative market
globally. Factors such as the high birth rate and rapidly improving healthcare
infrastructure in the APAC region are influencing the market growth,
positively. Furthermore, the rapidly growing markets in India and China are expected
to provide immense opportunities for the growth of pediatric medical devices.
Browse Complete Report: https://www.marketresearchfuture.com/reports/pediatric-medical-device-market-980
Global Pediatric Medical Device Industry Size - Competitive Landscape
The presence of several notable
players intensifies the competition in the already highly competitive and
diversified market. These players manage to gain a substantial market share by
driving R&D activities required for the development of new devices and
technologies.
They also invest continually to
incorporate strategies such as mergers & acquisitions, collaboration,
expansion, and new product/technology development. They tap the emerging
markets in developing regions to expand their business further. They compete
with each other based on product reliability, quality, cost, and aftermarket
services.
Major Players:
Players leading the global Pediatric
Medical Device Industry Size include Abbott (US), General Electric Company
(US), Johnson & Johnson Private Limited (US), Medtronic (Ireland), Siemens
AG (Germany), Koninklijke Philips NV (Netherland), Novamed (US), Phoenix
Medical Systems USA (US), Phoenix Medical Systems (P) Ltd. (India), and Pega
Medical (US), among others.
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