North America Pediatric Medical Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product [In Vitro Diagnostic (IVD) Devices, Cardiology Devices, Respiratory Care Devices, Monitoring Devices, Neonatal ICU Devices, and Others] and End User (Hospitals, Pediatric Clinics, and Others)
Market Introduction
The North America pediatric medical devices market is analyzed on the basis of three major countries: the US, Canada, and Mexico. The US holds the largest size of the pediatric medical devices market owing to factors such as the increasing burden of pediatric diseases, increasing product launches, and R&D Activities to develop advanced pediatric medical devices. The growth of the region's market is attributed to the increasing incidences of birth deformities and rising key player initiatives. In addition, the growing health expenditures are expected to drive the growth of the market during the forecast period.
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.
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Market Overview and Dynamics
The pediatric medical devices market in North America is expected to grow from US$ 10,872.43 million in 2021 to US$ 18,786.55 million by 2028; it is estimated to grow at a CAGR of 8.1% from 2021 to 2028. The healthcare system is continuously evolving due to rising product innovation and developments, creating opportunities for the market. The patient care systems are developing to facilitate various medical procedures. The rise in diseases and disorders among children is among the key role to play in increasing investment of the North America and domestic players. The trend for pediatric medical devices is likely to grow dramatically in the future, owing to the increasing number of market players offering products. Moreover, introduction of innovative products, revolutionary technology, and successful events created opportunities for the companies to continue producing pediatric medical devices. In addition, the increasing trend for the use of point-of-care devices in hospitals and at-home care is expected to benefit the market. Thus, companies manufacturing the products are likely to add value to their customers and attract more customer base. Therefore, considering these factors, are likely to propel the market's growth during the forecast period.
Key Market Segments
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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the pediatric medical devices market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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.
Reasons to buy report
- To understand the North America pediatric medical devices market landscape and identify market segments that are most likely to guarantee a strong return.
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America pediatric medical devices market.
- Efficiently plan M&A and partnership deals in North America pediatric medical devices market by identifying market segments with the most promising probable sales.
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America pediatric medical devices market.
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America Pediatric Medical Devices Market Segmentation
North America Pediatric medical devices Market - By Product
- In Vitro Diagnostic (IVD) Devices
- Cardiology Devices
- Respiratory Care Devices
- Monitoring Devices
- Neonatal ICU Devices
- Others
North America Pediatric Medical Devices Market - By End User
- Hospitals
- Pediatric Clinics
- Others
North America Pediatric Medical Devices Market - By Country
- US
- Canada
- Mexico
North America Pediatric Medical Devices Market - Company Profiles
- Atom Medical Corp.
- F. Hoffmann-La Roche Ltd.
- General Electric Company
- Hamilton Medical
- Johnson And Johnson Services, Inc.
- Koninklijke Philips N.V.
- Medtronic
- Siemens AG
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Pediatric Medical Devices Market – By Product
1.3.2 North America Pediatric Medical Devices Market – By End User
1.3.3 North America Pediatric Medical Devices Market– By Country
2. North America Pediatric Medical Devices Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Pediatric Medical Devices Market– Market Landscape
4.1 Overview
4.2 North America PEST Analysis
5. North America Pediatric Medical Devices Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Cases of Cancer and Respiratory Disorders among Children
5.1.2 Wide Range of Pediatric Medical Devices Available
5.2 Market Restraints
5.2.1 Limited Knowledge about Medical Devices Designed for Infants
5.3 Future Trends
5.3.1 Non-Stop Demand for Point-of-Care Products
5.4 Impact Analysis
6. Pediatric Medical Devices Market – North America Analysis
6.1 North America Pediatric Medical Devices Market Revenue Forecast and Analysis
7. North America Pediatric Medical Devices Market Analysis – By Product
7.1 Overview
7.2 North America Pediatric Medical Devices Market Revenue Share, by Product (2021 and 2028)
7.3 Respiratory Care
7.3.1 Overview
7.3.2 Respiratory Care: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Cardiology Devices
7.4.1 Overview
7.4.2 Cardiology Devices: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
7.5 In Vitro Diagnostic (IVD)
7.5.1 Overview
7.5.2 In Vitro Diagnostic (IVD): Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Monitoring Devices
7.6.1 Overview
7.6.2 Monitoring Devices: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
7.7 Neonatal ICU Devices
7.7.1 Overview
7.7.2 Neonatal ICU Devices: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
7.8 Others
7.8.1 Overview
7.8.2 Others: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Pediatric Medical Devices Market Analysis – By End User
8.1 Overview
8.2 North America Pediatric Medical Devices Market Share, by End User, 2021 and 2028, (%)
8.3 Hospitals
8.3.1 Overview
8.3.2 Hospitals: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Pediatric Clinics
8.4.1 Overview
8.4.2 Pediatric Clinics: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Pediatric Medical Devices Market –Country Analysis
9.1 North America: Pediatric Medical Devices Market
9.1.1 Overview
9.1.2 North America: Pediatric Medical Devices Market, by Country, 2021 & 2028 (%)
9.1.2.1 US: Pediatric Medical Devices Market– Revenue and Forecast to 2028 (USD Million)
9.1.2.1.1 US: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (USD Million)
9.1.2.1.2 US: Pediatric Medical Devices Market, by Product, 2019–2028 (USD Million)
9.1.2.1.3 US: Pediatric Medical Devices Market, by End User, 2019–2028 (USD Million)
9.1.2.2 Canada: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (USD Million)
9.1.2.2.1 Canada: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (USD Million)
9.1.2.2.2 Canada: Pediatric Medical Devices Market, by Product, 2019–2028 (USD Million)
9.1.2.2.3 Canada: Pediatric Medical Devices Market, by End User, 2019–2028 (USD Million)
9.1.2.3 Mexico: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (USD Million)
9.1.2.3.1 Mexico: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (USD Million)
9.1.2.3.2 Mexico: Pediatric Medical Devices Market, by Product, 2019–2028 (USD Million)
9.1.2.3.3 Mexico: Pediatric Medical Devices Market, by End User, 2019–2028 (USD Million)
10. Impact Of COVID-19 Pandemic on North America Pediatric Medical Devices Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Pediatric Medical Devices Market – Industry Landscape
11.1 Overview
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.3.1 Overview
11.4 Inorganic Developments
11.4.1 Overview
12. Company Profiles
12.1 F. HOFFMANN-LA ROCHE LTD.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 GENERAL ELECTRIC
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Atom Medical Corp.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Koninklijke Philips N.V.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Siemens AG
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Medtronic
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Hamilton Medical
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Novonate, Inc.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. US Pediatric Medical Devices Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 2. US Pediatric Medical Devices Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 3. Canada Pediatric Medical Devices Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 4. Canada Pediatric Medical Devices Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 5. Mexico Pediatric Medical Devices Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 6. Mexico Pediatric Medical Devices Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 7. Organic Developments Done by Companies
Table 8. Inorganic Developments Done by Companies
Table 9. Glossary of Terms, Pediatric MRI Market
LIST OF FIGURES
Figure 1. North America Pediatric Medical Devices Market Segmentation
Figure 2. North America Pediatric Medical Devices Segmentation, By Country
Figure 3. North America Pediatric Medical Devices Market Overview
Figure 4. In Vitro Diagnostic Devices Held the Largest Share of the Product Segment in North America Pediatric Medical Devices Market
Figure 5. US to Show Significant Growth During Forecast Period
Figure 7. Expert Opinion
Figure 8. North America PEST Analysis
Figure 9. North America Pediatric Medical Devices Market: Impact Analysis of Drivers and Restraints
Figure 10. North America Pediatric Medical Devices Market – Revenue Forecast and Analysis – 2020- 2028
Figure 11. North America Pediatric Medical Devices Market Revenue Share, by Product (2021 and 2028)
Figure 12. North America Respiratory Care: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. North America Cardiology Devices: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America In Vitro Diagnostic (IVD): Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. North America Monitoring Devices: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Neonatal ICU Devices: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. North America Others: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. North America Pediatric Medical Devices Market Share, by End User, 2021 and 2028 (%)
Figure 19. North America Hospitals: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. North America Pediatric Clinics: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America Others: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. North America: Pediatric Medical Devices Market, by Key Country – Revenue (2021) (USD Million)
Figure 23. North America: Pediatric Medical Devices Market, by Country, 2021 & 2028 (%)
Figure 24. US: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (USD Million)
Figure 25. Canada: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (USD Million)
Figure 26. Mexico: Pediatric Medical Devices Market – Revenue and Forecast to 2028 (USD Million)
Figure 27. Impact of COVID-19 Pandemic in North American Country Markets
Figure 28. Growth Strategies Done by the Companies in the Market, (%)
- Atom Medical Corp.
- F. Hoffmann-La Roche Ltd.
- General Electric Company
- Hamilton Medical
- Johnson And Johnson Services, Inc.
- Koninklijke Philips N.V.
- Medtronic
- Siemens AG
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America pediatric medical devices market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America pediatric medical devices market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the pediatric medical devices market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution