The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Pediatric Medical Devices Global Market Report 2024, the pediatric medical devices market is expected to show promising growth in the forecast period.

The pediatric medical devices market has shown impressive growth in recent years. This trend is set to continue, driven by various factors and innovations.

Current Market Size and Growth

• 2023 Market Size: $31.29 billion
• 2024 Market Size: $33.84 billion
• CAGR: 8.1%

The recent growth in the pediatric medical devices market can be attributed to:

• Increasing awareness of pediatric healthcare needs
• Growing investments in healthcare infrastructure
• Population growth
• Government initiatives supporting child health
• Expansion of insurance coverage

Future Market Projections

• 2028 Market Size: $46.45 billion
• CAGR: 8.2%

Key factors driving future growth include:

• Adoption of value-based care models
• Advancements in manufacturing processes
• Personalized healthcare solutions
• Focus on home-based care
• Collaborative innovation in medical technologies

View More On The Pediatric Medical Devices Market Report 2024 – https://www.thebusinessresearchcompany.com/report/pediatric-medical-devices-global-market-report

Major Trends

• Remote monitoring solutions
• Pediatric telemedicine services
• Wearable health devices for children
• Pediatric robotics in surgery
• Integration of AI in pediatric healthcare

Minimally Invasive Pediatric Surgical Procedures

The demand for minimally invasive pediatric surgical procedures is significantly boosting the pediatric medical devices market.

Benefits of Minimally Invasive Procedures

• Smaller incisions or natural body openings
• Specialized instruments and imaging technology
• Less trauma and quicker recovery compared to traditional surgeries

Market Impact

• Case Study: In March 2023, Washington University in St. Louis reported an increase in operating room cases for minimally invasive surgery from 2,208 in 2021 to 2,400 in 2022.

Technological Advancements

• Enhanced safety and precision in interventions
• Reduced post-operative complications
• Effective treatment with minimal trauma to surrounding tissues

Key Market Players

• Cardinal Health Inc.
• Johnson & Johnson
• Siemens AG
• Hoffmann-La Roche Ltd.
• Abbott Laboratories
• Medtronic plc
• GE HealthCare Technologies
• Baxter International Inc.
• Boston Scientific Corporation
• Zimmer Biomet Holdings Inc.
• Olympus Corporation
• Terumo Corporation
• Smith & Nephew plc
• Atom Medical Corporation
• Elektro-Mag
• Novonate Inc.

Innovative Orthopedic Implants for Pediatric Patients

Leading companies are developing orthopedic implants to meet the unique healthcare needs of pediatric patients.

Example: OrthoPediatrics Corporation

• Launch: RESPONSE Rib and Pelvic Fixation system (March 2024)
• Target Condition: Early Onset Scoliosis (EOS)
• Features: Range of implant options, low-profile designs, and locking mechanisms for enhanced precision and flexibility

Expansion Through Acquisition

• Acquisition: Pega Medical by OrthoPediatrics Corporation (July 2022)
• Purpose: Expand pediatric orthopedics portfolio to aid more children with orthopedic disorders
• Investment: $33 million

Market Segmentation

1. By Product
   • Cardiology Devices
   • In Vitro Diagnostic (IVD) Devices
   • Diagnostic Imaging Devices
   • Anesthesia and Respiratory Care Devices
   • Neonatal Intensive Care Unit (ICU) Devices
   • Other Products
2. By Age Group
   • Infants
   • Children
   • Adolescents
3. By End-User
   • Hospitals
   • Diagnostic Laboratories
   • Ambulatory Surgical Centers
   • Other End-Users

Regional Insights

• Largest Region (2023): North America
• Fastest-Growing Region (Forecast Period): Asia-Pacific

The pediatric medical devices market is poised for significant growth, driven by technological advancements, increasing awareness, and strategic initiatives by key players. The focus on minimally invasive procedures and innovative solutions will continue to shape the future of pediatric healthcare.

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