Pediatric Medical Devices Market Size, Trends and Growth Analysis by 2027

The pediatric medical devices sector is projected to achieve a remarkable valuation of US$ 48,305.21 million by 2028, rising from an estimated US$ 28,207.65 million in 2021. This growth trajectory indicates a compound annual growth rate (CAGR) of 8.0% from 2021 to 2028.

Several factors are propelling the expansion of this market, notably the increasing prevalence of cancer and respiratory ailments among children, alongside the availability of a diverse array of pediatric medical devices. However, a significant challenge to market growth is the limited awareness regarding medical devices specifically designed for infants and young children.

Pediatric medical devices play a crucial role in diagnosing and treating various health conditions affecting children from birth up to the age of 21. The innovation in medical devices reflects the distinct needs of pediatric patients and the complexities involved in bringing devices to market that cater to these needs. Designing devices for children presents unique challenges; designers must take into account several factors, including the fact that children are generally more active than adults, their physiological structures and functions are still developing, and they may require long-term use of these devices.

Globally, healthcare systems are undergoing continuous transformation driven by product innovations and advancements. The rising incidence of diseases and disorders in children significantly attracts investments from both international and local stakeholders in this field. The trend towards pediatric medical devices is expected to experience substantial growth in the future, fueled by an increasing number of market participants introducing new products. Furthermore, the emergence of innovative solutions, groundbreaking technologies, and successful initiatives has opened up avenues for companies to persist in the development of pediatric medical devices. Additionally, the growing inclination towards point-of-care devices, both in hospitals and home care settings, is anticipated to further enhance the pediatric medical devices market in the years ahead.

The pediatric medical devices market is categorized by product types, which include in vitro diagnostic (IVD) devices, cardiology devices, respiratory care devices, monitoring devices, neonatal ICU devices, and others. Among these, the in vitro diagnostic (IVD) segment is expected to dominate the market share in 2021, while the respiratory care segment is projected to experience the highest CAGR of 8.6% during the forecast period.

In terms of end users, the pediatric medical devices market is divided into hospitals, pediatric clinics, and other facilities. The hospitals segment is anticipated to capture the largest market share in 2021. Additionally, the pediatric clinics segment is expected to witness the highest CAGR of 8.5% throughout the forecast period.

Key secondary sources utilized in the preparation of the report on the pediatric medical devices market include the Central Drugs Standard Control Organization, the Commission for Protection against Health Risks, Contract Research Organizations, and the Drug Safety and Effectiveness Network.