Hospitals Segment to Dominate North America Pediatric Medical Devices Market during 2020–2028      

According to a new market research study on “North America Pediatric Medical Devices Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product and End User” is expected to reach US$ 18,786.55 million by 2028 from 10,872.43 US$ million in 2021. The market is estimated to grow at a CAGR of 8.1% from 2021 to 2028. The report provides trends prevailing in the North America pediatric medical devices market along with the drivers and restraints pertaining to the market growth. Growing cases of cancer and respiratory disorders among children is the major factor driving the growth of the North America pediatric medical devices market. However, issues associated with limited knowledge about medical devices designed for Infants hinders the growth of North America pediatric medical devices market.

 North America pediatric medical devices market is segmented into product, end user, and country. The pediatric medical devices market, by product, is segmented into in vitro diagnostic (IVD), cardiology devices, respiratory care, monitoring devices, neonatal ICU devices, and others. The in vitro diagnostic segment is likely to hold the largest share of the market in 2021. Based on end user, the pediatric medical devices market is segmented into hospitals, pediatric clinics, and others. The hospitals segment is likely to hold the largest share of the market in 2021. Based on country, the North America pediatric medical devices market is segmented into US, Canada, and Mexico. US held the largest market share in 2021.

The impacts of COVID-19 are being felt across several markets, including the pediatric medical devices market in North America. Although the healthcare sector had witnessed SARS, H1N1, and other outbreaks in the last few years, the severity of the COVID-19 has made the situation more complicated due to its mode of transmission. North America has been witnessing a growing number of COVID-19 cases since its outbreak. Several measures are being taken to contain the disease and prevent the transmission; however, the exorbitant number of COVID-19 cases have resulted in cancellation of doctor's appointment, causing treatments and doctors/surgeons meeting cancellations. The pediatric patients suffering from critical surgeries such as neurosurgery, spinal surgery, and ENT surgery require physical awareness and need to implement procedures in the clinics. A recent study issued by the Radiological Society of North America in September 2020 stated that the COVID-19 pandemic significantly impacted pediatric radiology departments globally. More than 90% of study respondents indicate that medical devices practices have undergone a moderate, effective, or complete change in COVID-19. Pediatrics and term infants with medical disorders requiring prolonged hospitalization are prone to hospital-acquired (nosocomial) infection; thus, the adoption of in baby care facilities has been adversely affected in the wake of COVID-19 outbreak. Moreover, the outbreak has resulted in a high unemployment rate in the region, in turn, hampering disposable incomes, and consequently the benefits of health insurance. Therefore, the financial crisis among the masses in North America is projected to hamper the growth of the pediatric medical devices market.  

Atom Medical Corp.; F. Hoffmann-La Roche Ltd.; General Electric Company; Hamilton Medical; Johnson And Johnson Services, Inc.; Koninklijke Philips N.V.; Medtronic; and Siemens AG are among the leading companies in the North America pediatric medical devices market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Medtronic plc announced the U.S. commercial launch of the SonarMed airway monitoring system.