According to a new report, published by KBV research, The Global Pediatric Medical Devices Market size is expected to reach $42 billion by 2028, rising at a market growth of 7.0% CAGR during the forecast period.
The Anesthesia & Respiratory Care Devices segment is showcasing a CAGR of 7.5% during (2022 - 2028). The high number of pediatric respiratory illnesses, like chronic obstructive pulmonary disease (COPD) as well as obstructive sleep apnea, can be credited for the growth. In addition, the number of pediatric children who have passed away from infectious diseases such as digestive and respiratory problems has considerably grown. To recognize, treat, and prevent the transmission of these diseases, continuous patient monitoring, and early diagnosis are crucial. Cystic fibrosis, asthma, and COPD prevalence increases are further factors driving the segment.
The Hospitals segment acquired maximum revenue share in the Global Pediatric Medical Devices Market by End User in 2021 thereby, achieving a market value of $19.7 billion by 2028. The demand for improved medical equipment for better medical care and the rising number of pediatric patient admissions are anticipated to drive the segment's growth. This is also attributable to a rise in the implementation of pediatric healthcare equipment in hospitals as well as a progressive growth in the number of public and private hospitals in developing nations like China and India.
The North America market dominated the Global Pediatric Medical Devices Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $15.8 billion by 2028. The Europe market is exhibiting a CAGR of 6.5% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 7.7% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/pediatric-medical-devices-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Medtronic PLC, Abbott Laboratories, Cardinal Health, Inc., GE HealthCare Technologies, Inc., Hamilton Medical AG (Hamilton Bonaduz AG), TSE spol. s.r.o. (TSE Medical), Fritz Stephan GmbH, Phoenix Medical Systems Pvt. Ltd., Trimpeks, and Atom Medical Corporation.
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