Pediatric Medical Devices Market to Reach USD 47.4 Bn by 2031, Driven by 6.3% CAGR | Exclusive Report by Transparency Market Research Inc.

The pediatric medical devices market was valued at US$ 27.6 Bn in 2022 and is projected to grow at a CAGR of 6.3% from 2023 to 2031, reaching an estimated US$ 47.4 Bn by the end of 2031.

Rising prevalence of pediatric diseases and increasing cases of premature birth are key factors driving market growth. Heightened occurrences of conditions such as obesity, diabetes, and asthma in children are amplifying the demand for advanced pediatric medical devices. Additionally, market leaders are investing heavily in innovative technologies, including the integration of artificial intelligence (AI) to monitor multiple biomarkers in pediatric patients—particularly in managing asthma—which is expected to further fuel market revenue.

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Introduction: Meeting the Unique Needs of Pediatric Care

Pediatric medical devices are specifically designed to diagnose, treat, and monitor diseases in patients under 21 years of age. Recognizing the unique physiological and developmental characteristics of children, these devices address the challenges posed by smaller body sizes and varying developmental stages. The product portfolio includes:

• In Vitro Diagnostic (IVD) Devices
• Cardiology Devices
• Diagnostic Imaging Devices
• Anesthesia & Respiratory Care Devices
• Neonatal ICU Devices
• Monitoring Devices
• Telemedicine Solutions
• Home-use Medical Devices

Rise in Prevalence of Pediatric Diseases Augmenting Market Size

Early detection and management of pediatric conditions such as anemia, asthma, leukemia, and infectious diseases are critical to improving outcomes. According to reports by global health organizations, conditions like pneumonia, obesity, and asthma have seen a notable rise, thereby intensifying the need for sophisticated diagnostic and monitoring devices. For instance, the CDC estimates that millions of children in the U.S. suffer from asthma, underlining the urgent requirement for enhanced pediatric care solutions.

Increase in Cases of Premature Birth Fueling Market Progress

Premature births—defined as births before 37 weeks of gestation—pose significant health risks and often necessitate advanced neonatal care. Specialized neonatal ICU devices, equipped with sophisticated monitoring systems, are essential to track vital signs and support early interventions for these vulnerable infants. With approximately 1 in 10 babies born prematurely globally, the demand for state-of-the-art neonatal devices continues to rise.

Regional Pediatric Medical Devices Market Insights

• North America: Dominates the market with a robust healthcare infrastructure, high investments in research and development, and continuous product innovations. The region benefits from advanced radiology technologies and a proactive approach towards reducing preterm birth rates.
• Europe: Strong environmental and regulatory frameworks drive the adoption of cutting-edge pediatric medical devices, ensuring high standards of patient care.
• Asia Pacific: Rapid growth in healthcare infrastructure, combined with increasing incidences of pediatric diseases and premature births, is creating significant market opportunities.
• Latin America & Middle East: Emerging economies in these regions are progressively investing in modern healthcare systems, which is expected to boost market growth.

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Analysis of Key Players
The competitive landscape in the pediatric medical devices market is dynamic, with major global players and innovative startups actively shaping the industry. Leading companies include:

• Abbott
• Boston Scientific Corporation
• Baxter International, Inc.
• Medtronic
• Cardinal Health, Inc.
• F. Hoffmann-La Roche Ltd.
• GE Healthcare
• Johnson & Johnson
• Siemens Healthineers
• Koninklijke Philips N.V.
• Stryker Corporation

These industry leaders are pursuing strategies such as mergers and acquisitions, new product development, and the integration of AI-driven solutions to enhance their product portfolios and expand their market reach.

Key Developments in Pediatric Medical Devices Market

• In February 2024, Aevice Health—a Singapore-based innovator in pediatric respiratory support—partnered with U.K.-based Jiva.ai to develop a remote patient monitoring platform, enhancing real-time asthma management for pediatric patients.
• In January 2022, Good Parents Inc., the creators of the Kiddo remote patient monitoring platform, secured a US$ 16 Mn series growth investment, reinforcing their commitment to continuous care solutions for pediatric patients.

Market Segmentation

By Product:

In Vitro Diagnostic (IVD) Devices, Cardiology Devices, Diagnostic Imaging Devices, Anesthesia & Respiratory Care Devices, ,Neonatal ICU Devices Monitoring Devices, Telemedicine Solutions,
Home-use Medical Devices

By End-user:

Hospitals, Diagnostic Laboratories, Ambulatory Surgical Centers, Others

Regional Segmentation:

North America, Latin America, Europe, Asia Pacific, Middle East & Africa

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Conclusion: Shaping the Future of Pediatric Healthcare

Driven by technological advancements and an escalating need for specialized pediatric care, the pediatric medical devices market is set to undergo significant growth. Companies that integrate AI-driven diagnostics and innovative monitoring systems will play a pivotal role in enhancing healthcare outcomes for children worldwide.

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