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

The pediatric radiology market has witnessed significant growth in recent years and is set for continued expansion. Key factors driving this growth include medical imaging innovations, rising pediatric disease incidence, and advancements in imaging quality and safety. This blog delves into the market’s current and future trends, major players, and innovations shaping the landscape.

Current Market Growth

Market Size and Growth Rate

• The pediatric radiology market grew from $5.63 billion in 2023 to $5.94 billion in 2024, marking a compound annual growth rate (CAGR) of 5.6%.
• Growth has been driven by:
  • Innovations in medical imaging technology.
  • Increased incidence of pediatric diseases.
  • Greater awareness and adoption of pediatric radiology.
  • Improvements in imaging quality and safety.
  • Focused research and training in pediatric radiology.

Future Market Outlook

Projected Growth

• The market is expected to reach $7.47 billion by 2028, with a CAGR of 5.9%.
• Key drivers of future growth include:
  • Integration of artificial intelligence (AI) in imaging.
  • Expansion of telemedicine and remote imaging solutions.
  • Advances in personalized medicine and precision imaging.
  • Shift towards value-based healthcare models.
  • Innovations in emerging markets.

View More On The Pediatric Radiology Market Report 2024 – https://www.thebusinessresearchcompany.com/report/pediatric-radiology-global-market-report

Trends Shaping the Future

Major Trends

• Advancements in pediatric-specific imaging techniques.
• Increased use of AI and machine learning in radiology.
• Expansion of point-of-care imaging solutions.
• Growth in remote monitoring and telemedicine.
• Emphasis on patient-centered and family-centered imaging approaches.

Chronic Pediatric Conditions Fuel Market Growth

Impact of Chronic Conditions

• The rise in chronic pediatric conditions is a significant growth driver for the pediatric radiology market.
• Chronic conditions, which require long-term medical attention, are increasing due to genetic, environmental, and lifestyle factors.
• Pediatric radiology is essential in diagnosing, monitoring, and managing these conditions, using imaging techniques like X-rays, MRI, and CT scans.
• Example: In 2022, hospital admissions for children with asthma in England and Wales surged by 149% compared to the previous year, highlighting the increasing need for pediatric radiology services.

Key Market Players

Leading Companies

• Major companies in the pediatric radiology market include:
  • Samsung Electronics Co. Ltd.
  • Hitachi Ltd.
  • Siemens AG
  • General Electric Company
  • Toshiba Corporation
  • Fujifilm Holdings Corporation
  • Koninklijke Philips N.V.
  • Agilent Technologies Inc.
  • Hologic Inc.
  • Shimadzu Corporation

Innovative Mini TEE Ultrasound Transducers

Product Innovations

• Companies are developing advanced products like mini transesophageal echocardiography (TEE) ultrasound transducers.
• These devices provide detailed images of the heart through the esophagus, enhancing diagnostic precision and patient comfort.
• Example: In May 2024, Koninklijke Philips N.V. launched the X11-4t Mini 3D TEE transducer, designed for pediatric patients and adults at risk of complications, offering high-quality 3D imaging with minimal anesthesia needs.

Strategic Acquisitions

GE Healthcare’s Acquisition of IMACTIS

• In April 2023, GE HealthCare Technologies Inc. acquired IMACTIS, enhancing its portfolio in interventional guidance.
• This acquisition brings IMACTIS’ CT-Navigation system into GE’s offerings, improving workflow efficiency and procedural accuracy in minimally invasive procedures.

Market Segmentation

Product Type, Modality, Application, and End-User

• The market is segmented by product type, including ultrasound, MRI, X-ray, and CT scanners.
• Modality categories include standalone devices, table-top devices, and portable devices.
• Applications span oncology, orthopedics, cardiology, and more.
• End-users include hospitals, pediatric clinics, diagnostic centers, and others.

Regional Insights

Geographic Growth

• North America was the largest market for pediatric radiology in 2023.
• The Asia-Pacific region is expected to be the fastest-growing market in the forecast period, driven by advancements in healthcare infrastructure and increasing adoption of advanced imaging technologies.

The pediatric radiology market is poised for robust growth, driven by technological advancements, increasing chronic pediatric conditions, and strategic initiatives by key market players. As innovations continue to emerge, the market will see enhanced diagnostic and treatment capabilities, improving patient outcomes and shaping the future of pediatric healthcare.

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