Global Pediatric Masks Market - Introduction
Pediatrics is a branch of medicine that deals with the health, growth, and development of infants, children, and adolescents. The global pediatric mask market is driven by an increase in the incidence of asthma and respiratory diseases, increase in allergy cases, availability of advanced masks, and rise in pollution levels. Furthermore, increase in awareness about the diagnosis of respiratory diseases and improvement in health care facilities are likely to drive the market. Advanced full face masks manage pediatric asthma and help control the condition. As estimated by the American Lung Association, the Centers for Disease Control and Prevention (CDC), and the National Institute of Allergy and Infectious Diseases (NIAID), in U. S. 6 million children are affected by asthma currently.
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Global Pediatric Masks Market - Competitive Landscape
Strategic alliances between small players and major players in emerging markets are expected to boost the market. Important aspects of strategic alliances are strong distribution reach, manufacturing expertise, and technological collaboration. Established players can gain easy access to emerging markets with a strong distribution agreement. Increase in manufacturing expertise by entering into contract manufacturing agreement with domestic players enable companies to provide products at low cost. This, in turn, provides high quality products at economical prices.
Fisher & Paykel Healthcare Limited
Founded in 1998, Fisher & Paykel Healthcare Limited is headquartered in Auckland, New Zealand. Fisher & Paykel Healthcare Corporation Limited engages in the design, manufacture, and marketing of respiratory products and systems that are utilized in respiratory care, acute care, and obstructive sleep apnea. The company’s products are used in respiratory, acute care, and surgery and for the treatment of obstructive sleep apnea (OSA). It has a direct presence in over 33 countries and sells its products in more than 120 countries across North America, Europe, Asia Pacific, and other regions. The company manufactures most of its devices in New Zealand (approximately 66%) and Mexico (approximately 34%). The company’s R&D center is based in New Zealand.
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ResMed, Inc.
Established in 1989, ResMed, Inc. is headquartered in San Diego, U.S. ResMed, Inc. specializes in the manufacture of products and solutions for the diagnosis, treatment, and management of sleep apnea, chronic obstructive pulmonary disease (COPD), and other chronic diseases. The company offers respiratory products in hospitals and home care settings. It has a wide portfolio of patented products in CPAP devices, consumables, and other segments such as obstructive sleep apnea and sleep breathing disorders. The company provides services to around 3 million patients across the world by improving the quality of their life, preventing progression of chronic diseases, and reducing overall health care costs.
Philips Healthcare (Koninklijke Philips N.V.)
Founded in 1891, Philips Healthcare is headquartered in Amsterdam, Netherlands. Philips Healthcare is a subsidiary of Koninklijke Philips N.V. Philips Healthcare operates through four divisions: diagnostic imaging systems, home healthcare, customer services, and patient care and clinical informatics. The company focuses on the complete cycle of care from disease prevention through screening, diagnosis, monitoring, and health management. It has presence in around 100 countries, with more than 450 products across the segments. Since January 2019, the company’s sleep & respiratory care business has shifted from the personal health segment to the renamed connected care segment.
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Global Pediatric Masks Market - Dynamics
Initiatives by governments
Rise in health care expenditure provides substantial opportunities to hospitals and companies to generate greater revenues. According to the Organization for Economic Cooperation and Development (OECD), the global expenditure on health care is projected to reach US$ 10 Trn by 2020. Health care expenditure in most countries in Europe is increasing at a rapid pace, as compared to the rise in gross domestic products (GDP). Furthermore, the U.S. FDA is committed to support the development and availability of safe and effective pediatric products. Its current initiatives include increasing the number of medical devices with labels for pediatric patients by incorporating known information about device effects in other populations to support pediatric indications, collaborating with the Institute of Medicine on the effectiveness of post-market surveillance of pediatric medical devices, and collecting data on the unmet needs for pediatric medical devices and the barriers to the development of new pediatric devices.
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Rise in chronic health conditions among infants and children
The percentage of children with chronic health conditions is on the rise. Research presented at the Pediatric Academic Societies 2016 Meeting indicated that chronic diseases are highly common among children who live in or near poverty. The study found significant increases in asthma and COPD among children living in poverty, as compared to their wealthier counterparts. Poor children with these conditions are likely to have two or more additional diseases. Some of the more common co-existing conditions included developmental delays, autism, depression or anxiety, behavioral or conduct issues, speech and language problems, epilepsy/seizure disorders, and learning disabilities.
In another study published in the February 2017 issue of The Journal of the American Medical Association, it was found that the prevalence of chronic health conditions among children in the U.S. doubled between 1994 and 2006.
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