Pediatric Monitoring Devices Market- Growth Opportunities,trends and forecast 2018-2026
Pediatric monitoring devices are traditionally used by pediatricians to analyze and evaluate the growth of infants and diagnose abnormality, disease condition, or genetic disorder in them, if any, at an early phase of life. Measuring the growth of an infant has been an important surveillance parameter in the pediatric health care segment, which helps the health care professional to identify weight-related issues (overweight or underweight) and other growth deficiencies owing to any underlying medical condition. Various pediatric monitoring devices are offered in the market by domestic and multinational players, which are used by pediatricians to assess the vital parameters of infants in order to identify health issues at an early stage.
There is a rising awareness regarding pediatric monitoring practices, especially in emerging countries, such as China, India, Brazil, etc. Various government initiatives to promote health and well-being of infants and children have raised the standards of pediatric health care in these countries, leading to an increasing number of parents, along with health care professionals, adopting pediatric monitoring practices and policies. This is a major driver of demand for pediatric monitoring devices in these countries, which is subsequently driving the overall market. Moreover, rise in incidence of chronic diseases among infants, along with prevalence of malnutrition, obesity, and other lifestyle-related diseases, is raising the focus on health care facilities toward initial screening programs, which include pediatric monitoring as a standard program. This, combined with the rising number of childbirth every year in emerging countries, is a key factor expected to propel the demand for pediatric monitoring devices from 2018-2026. Rise in demand for pediatric monitoring devices has created lucrative opportunities in the global market and low entry barriers have attracted several domestic and regional players toward entering the market, intensifying the price competition and resulting in shrinking of prices of products. However, lack of compliance on the part of general population toward programs and policies regarding pediatric monitoring is a major factor restraining the growth of the global pediatric monitoring devices market.
The global pediatric monitoring devices market can be segmented on the basis of application, and region. Based on application, the pediatric monitoring devices market can be categorized into vital signs monitoring devices, blood-oxygen level monitoring devices, cardiac/ECG monitoring devices, EEG monitoring devices, CO2 monitoring devices, defibrillation devices, temperature monitoring devices, and others. Among these, the vital signs monitoring devices segment constitutes the leading share of the global pediatric monitoring devices market.
By geography, the global pediatric monitoring devices market can be segmented into five major regions: North America, Europe, Asia, Latin America, and Rest of the World. Among these, North America and Europe accounted for the leading share of the global pediatric monitoring devices market, followed by Asia, Latin America, and Middle East & Africa. The U.S. dominated the pediatric monitoring devices market in North America due to the factors, such as, technological advancements and increasing health care awareness about the treatment and management of severe acute and chronic diseases. Following the U.S. and Europe, the pediatric monitoring devices market in Asia Pacific is anticipated to witness a significant growth during the forecast period. New product launches, favorable regulations facilitating new product launches, large base of pediatric patients suffering from chronic diseases, and growing awareness are likely to drive the pediatric monitoring devices market in Asia during the forecast period.
Key players operating in the global pediatric monitoring devices market include Boston Scientific Corporation, Clarity Medical Systems, Inc., Edwards Lifesciences, Envision Radiology, Claritas Genomics, Inc., EOS Imaging SA, Covidien Public Limited Company, GE Healthcare, PDI Pediatric Teleradiology, Infinium Medical, Inc., and Pediatric Bioscience, Inc., Sheffield Children’s Hospital, NextCODE Health, and Siemens Healthcare.
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