PUBLISHER: The Business Research Company | PRODUCT CODE: 1522289
PUBLISHER: The Business Research Company | PRODUCT CODE: 1522289
Pediatric radiology is a specialized medical field focusing on diagnosing and treating diseases, disorders, and injuries affecting infants, children, and adolescents through imaging techniques. These techniques include X-rays, ultrasound, computed tomography (CT), magnetic resonance imaging (MRI), and nuclear medicine, tailored to pediatric patients' anatomy, physiology, and pathology.
The main types of pediatric radiology include ultrasound, MRI, X-rays, CT scanners, and others. Ultrasound employs high-frequency sound waves to generate images of internal body structures, aiding in diagnosis and monitoring various medical conditions. Various modalities include standalone, table-top, and portable devices used across different medical fields such as oncology, orthopedics, and cardiology. These devices cater to a range of end-users, including hospitals, pediatric clinics, and diagnostic centers.
The pediatric radiology market research report is one of a series of new reports from The Business Research Company that provides pediatric radiology market statistics, including pediatric radiology industry global market size, regional shares, competitors with a pediatric radiology market share, detailed pediatric radiology market segments, market trends and opportunities, and any further data you may need to thrive in the pediatric radiology industry. This pediatric radiology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The pediatric radiology market size has grown strongly in recent years. It will grow from $5.63 billion in 2023 to $5.94 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to medical imaging innovations, an increasing incidence of pediatric diseases, growing awareness and adoption of imaging technologies, improvements in imaging quality and safety, and pediatric-focused research and training.
The pediatric radiology market size is expected to see strong growth in the next few years. It will grow to $7.47 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to the integration of artificial intelligence (AI), telemedicine, and remote imaging, personalized medicine and precision imaging, the shift towards value-based healthcare, and innovations in emerging markets. Major trends in this period include advancements in pediatric-specific imaging techniques, the integration of artificial intelligence (AI) and machine learning, the expansion of point-of-care imaging, remote monitoring, and telemedicine solutions, and an emphasis on patient-centered care and family-centered imaging.
The anticipated rise in chronic pediatric conditions is poised to drive the growth of the pediatric radiology market in the coming years. Chronic pediatric conditions encompass long-term health issues affecting children and adolescents, persisting for a year or more and requiring continuous medical attention or limiting daily activities. These conditions are on the rise due to a combination of genetic predisposition, environmental factors, and changes in lifestyle. Pediatric radiology plays a crucial role in diagnosing, monitoring, and managing chronic pediatric conditions through imaging techniques such as X-rays, MRI, and CT scans, providing essential information for effective treatment and care. For instance, in September 2022, hospital admissions for children with asthma in England and Wales surged by 149% between 2021 and 2022, according to the National Health Service. This increase underscores the importance of pediatric radiology in addressing the growing prevalence of chronic pediatric conditions.
Leading companies in the pediatric radiology market are focusing on developing innovative products to enhance diagnostic and treatment options for smaller or more vulnerable patients, improve imaging precision, and enhance overall patient comfort and outcomes. One such innovation is the mini transesophageal echocardiography (TEE) ultrasound transducers, compact imaging devices designed to provide detailed images of the heart and its structures through the esophagus. These devices extend diagnostic and treatment capabilities for patients of varying sizes and conditions. For example, in May 2024, Koninklijke Philips N.V. introduced the X11-4t Mini 3D TEE transducer, designed for enhanced patient comfort. This miniaturized transducer provides detailed 3D imaging crucial for diagnosing and treating structural heart diseases, benefiting small pediatric patients and adults at risk of complications. Compatible with Philips' EPIQ CVx and EchoNavigator systems, it offers high-quality imaging while reducing the need for general anesthesia and minimizing recovery times.
In April 2023, GE HealthCare Technologies Inc. acquired IMACTIS for an undisclosed amount, expanding its portfolio in interventional guidance. With this acquisition, GE HealthCare gained access to IMACTIS' CT-Navigation system, which enhances workflow efficiency and procedural accuracy in minimally invasive percutaneous procedures, ultimately leading to better patient outcomes. IMACTIS specializes in medical imaging, radiology, and interventional radiology, and the acquisition strengthens GE HealthCare's position in the market.
Major companies operating in the pediatric radiology market are Samsung Electronics Co. Ltd., Hitachi Ltd., Siemens AG, General Electric Company, Toshiba Corporation, Fujifilm Holdings Corporation, Koninklijke Philips N.V., Agilent Technologies Inc., Hologic Inc., Shimadzu Corporation, Varian Medical Systems Inc., Cook Medical Inc., Agfa-Gevaert N.V., Neusoft Corp, Carestream Health Inc., Shanghai United Imaging Healthcare Co. Ltd, NuVasive Inc., Esaote S.p.A., Canon Medical Systems Corporation, OrthoPediatrics Corporation, Ziehm Imaging GmBH, Shenzhen Landwind Industry Co., DMS Imaging SA, Allengers Medical Systems Ltd., Mindray Medical International Ltd
North America was the largest region in the pediatric radiology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pediatric radiology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the pediatric radiology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The pediatric radiology market consists of revenues earned by entities that provide services such as diagnostic imaging, interventional radiology, radiation therapy planning, pediatric sedation services, and consultation services. The market value includes the value of related goods sold by the service provider or included within the service offering. The pediatric radiology market also includes sales of imaging equipment, pediatric phantoms, sedation and anesthesia equipment, and radiation protection gear. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Pediatric Radiology Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on pediatric radiology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for pediatric radiology ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The pediatric radiology market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.