Global Pediatric Radiology Market

Global Pediatric Radiology Market is expected to reach $XX Mn by 2026 from $XX Mn in 2019, at a CAGR of 5.7% during forecast period.

Global Pediatric Radiology Market Overview:

Pediatric radiology is a diagnostic imaging technique that focuses on imaging children, infants, foetuses, adolescents, and young adults. Pediatric radiology imaging is performed on children who have fractures or injuries so that they can be diagnosed more quickly and accurately with the help of a paediatric radiology positioner.

Global Pediatric Radiology Market Dynamics:

Rising prevalence of chronic diseases among the young population is the major factor contributing to the market growth.

Increased life expectancy among children and adolescents, owing to improved hygiene, nutrition, and control of communicable diseases is causing an epidemiologic transition in which non-infectious disorders, such as chronic diseases and disability, are emerging as major health issues. The fundamental factor driving the development of paediatric radiology is the rising incidence of diagnosis due to various diseases in children. Furthermore, the growing need for advanced research would boost the global paediatric radiology market forward. Every year, an increase in the number of deaths owing to problems during childbirth and other diseases such as pneumonia, asthma, viral infections, and malnutrition contribute to the growth of the paediatric healthcare market.

The adoption of modern technology in various healthcare settings, such as hospitals and paediatric specialty clinics, is expected to have a positive impact on market growth in both developing and developed regions. For example, Lucile Packard Children's Hospital Stanford opened a new surgical facility in August 2018 that incorporates an innovative hybrid operating suite and allows for interdisciplinary care. Rising collaborations between the key players are expected to be the potential opportunity for the paediatric radiology market to grow during the forecast period. However, risks associated with radiations, especially in young patients, which can lead to cancer, as well as high installation costs, are two factors that could limit the market growth.

The report has profiled sixteen key players in the market from different regions. However, report has considered all market leaders, followers and new entrants with investors while analyzing the market and estimation the size of the same. Increasing R&D activities in each region are different and focus is given on the regional impact on the cost, availability of advanced technology are analyzed and report has come up with recommendations for future hot spot in APAC region.

Global Pediatric Radiology Market Segment Analysis:

The Global Pediatric Radiology Market is segmented on the basis of Modality, Application and End-Users.

Based on Modality, the MRI segment registered a dominant market share in 2019. During the forecast period, the segment is expected to grow at a CAGR of 6.1%. Magnetic resonance imaging (MRI) is a useful diagnostic tool for detecting disorders such as lesions in the spine, cancers, and strokes that affect the blood vessels and brain. The rising prevalence of these disorders is likely to contribute significantly to segment growth. Due to the rising demand for medical settings and technological advances boost the segment growth. Advanced fast scan technologies, such as the single-shot approach and gradient-echo, produce images that are both faster and crisper. Researchers from the University Of Colorado School Of Medicine discovered a new imaging approach called rapid MRI in September 2019 that proved effective in evaluating juvenile Traumatic Brain Injuries (TBI) while avoiding the hazards of ionising radiation and anesthesia. The ultrasound segment is expected to grow at a faster rate during the forecast period. The rapid rise can be attributed to factors such as the widespread availability of imaging devices, trained specialists, affordability, and the constant introduction of new technologies designed exclusively for paediatric patients.

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Global Pediatric Radiology Market Regional Insights:

North America dominated the global market in 2019.

Rapid technological breakthroughs, such as the rising incidence of target diseases, the development of molecular imaging, and the launch of new radiopharmaceuticals for diagnosis, contribute to North America's market dominance. In September 2018, Bracco Diagnostics Inc. gave Children's Hospital of Philadelphia (CHOP) a $300,000 donation to fund research and educate staff to use a novel contrast ultrasound technique. Europe held the second-largest market share in 2019. Europe’s dominant market share is majorly contributed due to the presence of advanced medical infrastructure and easy availability of imaging technologies in the region.

Asia Pacific is expected to witness lucrative growth during forecast period.

Growing market penetration of key players in developing countries increased prevalence of paediatric disorders, and favorable government policies promoting paediatric care are all contributing to the region's high growth rate. Philips Lumify, low-cost diagnostic ultrasonography equipment was introduced in many Asian nations by Royal Philips in December 2018, allowing healthcare providers to deliver improved health coverage.

The report also helps in understanding Global Pediatric Radiology Market dynamics, structure by analyzing the market segments and project the Global Pediatric Radiology Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Pediatric Radiology Market make the report investor’s guide.

Global Pediatric Radiology Market, Key Developments:

• In March 2020, Royal Philips collaborated with Children's Hospital of Georgia, which thereafter adopted Philips' automated early detection and warning system (IntelliVue GuardianSoftware) for pediatrics.

• The Medical University of South Carolina in Charleston, South Carolina, has installed a Siemens Healthineers Magnetom Lumina 3 Tesla (3T) magnetic resonance imaging (MRI) scanner. In 2018, they formed a partnership. The cooperation aimed to improve MUSC's performance by developing clinical and value-driven improvements in paediatrics, cardiovascular care, radiology, neuroscience and other areas.

Global Pediatric Radiology Market Scope: Inquire before buying

Global Pediatric Radiology Market, by Region:

• North America
• Europe
• South America
• MEA
• APAC

Global Pediatric Radiology Market, Key players:

• Fujifilm Corporation
• Analogic Corporation
• Koninklijke Philips N.V.
• General Electric Company
• Samsung Medison Co. Ltd.
• Siemens AG
• Mindray Medical International Limited
• Toshiba Corporation
• Esaote SpA
• Hitachi, Ltd.
• Agfa Healthcare
• Carestream Health, Inc.
• Canon, Inc. (Canon Medical Systems Corporation)
• Olympus Corporation
• SuperSonic
• Trivitron Healthcare

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