September 14, 2020
According to the research report titled ‘Global Pediatric Imaging Market Size study, by Modality (Ultrasound, Magnetic Resonance Imaging, Computed Tomography, X-ray, Others), by Application (Oncology, Cardiology, Orthopedics/ Trauma, Gastroenterology, Neurology, Others), by End-User (Hospitals, Diagnostic Centers, Others) and Regional Forecasts 2020-2027‘, available with Market Study Report, global pediatric imaging market was valued at USD 6.8 billion in 2019 and is expected to witness a CAGR of 7.6% during 2020-2027.
Rise in demand for advanced healthcare solutions in pediatric care, surging acceptance of imaging modalities for diagnosis of disorders in children, and government measures to improve awareness regarding pediatric wellbeing are the key factors augmenting global pediatric imaging market size.
For those uninitiated, pediatric imaging indicates abnormalities and normalcies of specific age rather than analyzing a particular organ or area. Although, a few diseases observed in kids are common in adults, many conditions are only noticed in infants. The imaging is majorly used to observe changing aspects of a growing body, from pre-term infants to large adolescents, where the organs are going through growth phases. Widespread usage of pediatric imaging for specialized treatment in children hospital will impel the expansion of global pediatric imaging market.
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Moreover, growing prevalence of COVID-19 has raised the demand for screening options, hence pediatric imaging is gaining popularity among the healthcare professionals as it provides crucial diagnosis in less time. Extensive use of imaging modalities to test COVID-19 among children is likely to influence the growth of global pediatric imaging market. On the contrary, high cost for installation and exposure risk related to radiation are the major factors restraining the market growth trends over 2020-2027.
Based on modality, global pediatric imaging market is segmented into magnetic resonance imaging, ultrasound, X-ray, computed tomography, and others. With respect to application scope, the industry is divided into cardiology, oncology, orthopedics/trauma, neurology, gastroenterology, and others. With regards to end-user spectrum, the industry is segmented into diagnostic centers, hospitals, and others.
As per regional analysis, North America pediatric imaging market accounted for massive revenue share in the recent past due to favorable reimbursement scenario and increasing research & innovations in imaging modalities for pediatric care. Meanwhile, Asia-Pacific market is likely to witness highest growth rate during 2020-2027, owing to the rise in prevalence of pediatric diseases and abundance of leading companies in countries like China and India.
Key players operating in global pediatric imaging market include Koninklijke Philips N.V., Siemens Healthineers, Fujifilm Holdings Corporation, GE Healthcare, Medtronic plc, Canon Medical Systems Corporation, Hitachi Medical Corporation, Agfa-Gevaert N.V., Toshiba Medical Systems Corporation, and Carestream Health Inc.