Market Summary Pediatric Imaging Market:
The Pediatric Imaging Market is anticipated to witness a growth rate of 7.3% in terms of value, reaching USD 11.90 Billion by 2027, up from USD 6.75 billion in 2019. This growth is attributed to the increasing prevalence of chronic conditions in infants and children. Factors such as customized research demand and enhanced training sessions organized by government and private institutions for pediatric radiologists are also contributing to the market's expansion.
The rise in chronic conditions among children is a global concern, and the improved life expectancy of children is leading to an epidemiologic transition where non-infectious diseases, particularly chronic diseases and disability, are becoming significant health challenges.
North America dominated the market in 2019 due to rapid technological advancements, growing incidence of target diseases, the development of molecular imaging, and the introduction of new radiopharmaceuticals for diagnosis.
Technological advancements in imaging modalities, especially X-rays, ultrasound, and MRI, are propelling market growth. Ultrasound, in particular, is seeing rapid adoption due to benefits such as enhanced organ definition, radiation-free visualization, and the ability to use higher-frequency transducers. However, the high costs associated with imaging systems and a shortage of skilled professionals may hinder market growth.
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Competitive Landscape:
Key companies in the market include
Toshiba Medical Systems Corporation,
Siemens Healthineers,
Agfa Healthcare,
GE Healthcare,
Fujifilm Holdings Corporation,
Carestream Health Inc.,
Philips Healthcare,
Mindray Medical International Limited,
Samsung Medison Company Limited,
Koninklijke Philips N.V. Mergers and acquisitions,
along with technological advancements, are prominent strategies adopted by key players.
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Expert Insights:
Industry experts forecast promising developments for increased adoption of pediatric imaging techniques. The market is witnessing a rise in startups introducing innovative products and technologies. Orthopedics, in particular, is gaining traction in pediatric imaging systems.
Key Market Dynamics:
Imaging Type Outlook:
Positron emission tomography (PET-CT) held the second-largest market share in 2019 and is expected to grow at a significant rate in the forecast period. PET-CT is a safe and non-invasive diagnostic imaging method that provides detailed metabolic and physiologic absorption images.
Application Outlook:
The application of pediatric imaging in neurological conditions is projected to grow at a rate of 7.8% in the forecast period. The prevalence of neurological disorders in children is a significant factor driving this growth.
End-Users Outlook:
Hospitals & clinics held the largest market share in 2019 and are projected to witness a growth rate of 7.0% in the forecast period. Factors such as well-resourced diagnostic rooms, skilled healthcare professionals, and improved health coverage contribute to the high market share of hospitals.
Regional Outlook:
The Asia Pacific region is expected to grow at a rate of 8.5% in the forecast period, driven by the increasing incidences of pediatric diseases, supportive government policies, rising healthcare standards, and a rise in disposable income.
Market-O-Nomics:
The pediatric imaging market is expected to reach USD 11.90 billion by 2027, growing from USD 6.75 billion in 2019.
Magnetic Resonance Imaging (MRI) contributed the largest market share in 2019 and is projected to grow at a rate of 7.5% in the forecast period.
Orthopedics contributed the largest market share in 2019 in terms of application and is expected to witness the fastest growth rate of 7.4% in the forecast period.
Diagnostic centers are estimated to grow at the fastest rate of 7.9% in the forecast period among end-users.
North America held the largest market share in 2019 and is expected to grow at a rate of 6.6% in the forecast period.
Segments Covered in the Report:
Imaging Type Outlook:
Magnetic Resonance Imaging (MRI)
Ultrasound
Positron Emission Tomography-Computed Tomography (PET-CT)
X-Ray
Others
Application Outlook:
Orthopedics
Gastroenterology
Neurology
Cardiology
Oncology
Others
End-Users Outlook:
Hospitals & Clinics
Diagnostic Center
Others
Regional Outlook:
North America
Europe
Asia Pacific
Latin America
MEA
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