Pediatric Healthcare Market: Industry Analysis, Opportunity and Forecast to 2027
Pediatric Healthcare Market 2022
Paediatrics in Healthcare is a branch of medicine which deals with diagnosis and treatment of diseases related to paediatric group. It can be classified into the four categories namely neonates (from birth till the first 28 days of life), infants (29 days to 2 years), children (2 years to 12 years) and adolescents (12 years to 18 years). Paediatrician is a medical professional who specializes in providing treating the paediatric group. Paediatric medical devices are devices used for the treatment and care of infants and children below 18 years having some healthcare issues.
Demand for paediatric medical devices is increasing due to high incidence of chronic illnesses among children, high premature birth rate, increasing birth defects among new born, and rising awareness regarding disease conditions among children. Malnutrition among children prevalent in under developed parts of the world is also a major driver of this market. Global Paediatric medical device market is expected to grow at a CAGR of 10.5% during forecast period 2017 to 2023.
Regional Analysis
Pediatric Home Healthcare Market in the Middle East & Africa has exhibited tremendously growth from last few years. In the Middle East, the market is expected to grow at a fastest rate owing to the development of healthcare system as well as rising important of diagnosis and treatment of diseases. Furthermore, increasing support by the government authorities for development of novel therapies also influences the growth of the market. In the Middle East & Africa, United Arab Emirates is the largest market for paediatric healthcare market. In Africa, there is tremendous demand for paediatric medical devices owing to an increasing health problems among the infants and children. There is wide scope of the growth of paediatric medical devices and nutritional products in number of under developed countries in African region. Number of government organisation are engaged in the evaluation of healthcare conditions in Africa as well as healthcare firms undertake products such as healthcare camps for women and children in this.
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Major Key Players:
Hoffmann-La Roche AG (Germany), Medtronic Plc. (U.S.), Bayer AG (Germany), Abbott (U.S.), I-SENS, Inc. (South Korea), Siemens (U.S.) and others. The main focus of these players is tapping the market in developing regions across the globe. Also product differentiation plays an important role for sustaining the growth of key players in the market.
Key developments:
Hoffmann-La Roche AG:
- June, 2017: F. Hoffmann-La Roche AG acquired mySugr to form a leading platform for digital diabetes management
- August, 2015: F. Hoffmann-La Roche AG acquired GeneWEAVE to strengthen offerings in microbiology diagnostics. Roche will pay GeneWEAVE shareholders USD 190 million upfront and up to USD 235 million in contingent product related milestones
- February 2015 : F. Hoffmann-La Roche AG announced the collaboration with BioMed X for the development of Nanomaterial-Based Biosensors for Near-Patient Testing
- September 2014: F. Hoffmann-La Roche AG launched Elecsys anti-Müllerian Hormone (AMH) fertility test for assessment of ovarian reserve for pregnancy
Medtronic plc.:
- October, 2016: Medtronic plc received an approval for its suite of cardiac rhythm and heart failure devices and leads to be scanned in both 3 and 1.5 Tesla (T) magnetic resonance imaging (MRI) machines. This FDA approval will help the company to strengthen its position in MRI machines segment.
- December, 2015: Medtronic plc and Samsung came together in an alliance to accelerate the development of digital health solutions for the millions of people suffering from chronic pain, movement disorders, incontinence, and other conditions who could benefit from neuromodulation therapy.
Abbott:
- October, 2016 : Abbott announced collaborations with Celgene and Agios for diagnostic identification of IDH mutations. The agreement focuses on the development and commercialize the diagnostic tests.
- April, 2016: Abbott received FDA approval for its companion diagnostics “Vysis CLL FISH probe kit” in Leukemia. The kit is used to detect the 17p deletion in chronic lymphocytic leukemia patients, the target population of a new drug from AbbVie.
Siemens:
- September, 2016: Siemens launched the combination of the Modularis urological shock wave unit and the flat detector technology of the mobile C-arm Cios Fusion. Since, constantly switching between two or even three different control units would be complicated and could lead to errors, the Modularis’ central control unit is a better option. This will help Siemens to strengthen its position in the market.
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