Pediatric healthcare is defined as a branch of medicine that deals with the treatment of child-related diseases that affect the infants and children most. Due to lower immunity, many children suffer from gastrointestinal diseases, respiratory diseases, and other chronic diseases. Pediatric healthcare provides comprehensive care to all patients from birth to eighteen years of age. It manages the physical health, behavior-related health, and mental health of the children. In a recent study by Hiroshima University it was reported that Hepatoblastoma (HB) was the most common liver cancer in children. It mainly affected the children up to three years old.
In terms of revenue, pediatric healthcare market was valued at more than US$ 90 Bn in 2020 and is estimated to register a CAGR of 5.1% over the forecast period (2021 – 2029).
Some key players in the global pediatric healthcare market are Allergan, Aveanna Healthcare LLC., BAYADA Home Health Care, Boehringer Ingelheim International GmbH, Boston Scientific Corporation, Cardinal Health, Eisai Co. Ltd., Epic Health Services, GE Healthcare (GENERAL ELECTRIC COMPANY), Gilead Sciences Inc., GlaxoSmithKline PLC, Koninklijke Philips N.V., Maksun Biotech Pvt. Ltd., Merck & Co. Inc., PAX HEALTHCARE, Pediapharm, Sanofi, Siemens Medical Solutions USA Inc., and Stryker amongst others.
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Increasing prevalence of diseases among neonates and infants is a major factor driving the global pediatric healthcare market growth. In 2010, more than 8% of children had a health condition that interfered with daily activities. Compared to last 50 years, this percentage symbolized an increase of more than 400%. 14% to 16% of this 400% increase came from an increase from four classes of more common conditions that were usually less complex and they did not have substantial mortality associated with them. These conditions included asthma, obesity, mental health conditions, and neurodevelopmental disorders. In the 21st century, the rates of asthma and obesity stabilized. However, rate of other conditions, such as autism spectrum disorders and attention deficit hyperactivity disorder (ADHD) kept on increasing, along with the rates of diagnosis. This resulted into better awareness of the conditions. Due to better awareness and more diagnosis, the demand for pediatric healthcare has increased all over the world, contributing to more investment in this market and leading to global pediatric healthcare market growth.
In September 2021, American Heart Association (AHA) highlighted hypertension as the major cause of increased mortality, cardiovascular disease, and chronic kidney disease. Increased body weight and obesity, occurring with hypertension, were identified as major risk factors causing chronic diseases. Hence, pediatric healthcare for treating and preventing hypertension-related obesity showcases huge potential for market growth. The spread of China-originated coronavirus pandemic significantly increased the demand for home healthcare services to children who maybe suffering from single or multiple chronic conditions. However, as physician visits were restricted during the COVID-19 pandemic, due to all countries implementing and enforcing lockdowns, the role of telemedicine in pediatric healthcare increased. The technologies which are a part of telemedicine introduced virtual visits for patient care. In December 2020, a New York-based home care agency, St. Mary's Home Care, launched a virtual service platform for patient engagement. Due to COVID-19 pandemic, the role of home healthcare increased in global pediatric healthcare market. Many healthcare facilities started to provide medications at home so that patients' frequency of visiting hospitals would reduce and the spread of virus would get prevented. Development of life-saving devices for children is anticipated to proliferate the growth of global pediatric healthcare market over the future years. Due to technological advancement in medical sector, there are bespoke mission critical systems in technologically advanced countries like Australia that are supporting largest organizations with technology architecture and solutions that play an important role within medical sector. These devices can be integrated with other software-based medical devices and can be useful for customized treatment for those chronic diseases which most people suffer from during childhood. In 2013, there were 75 million children in USA who at that time, accounted for 24% of total US population (315 million). In September 2021, the Penn State Health Life Lion Critical Care Transport fleet added new pediatric ambulance that was equipped with latest technology. The new life-saving ambulance features of this ambulance included several pieces of specialty equipment, such as a transport isolette for infants, a stronger oxygen system, and a ventilator.
Demand and Market for Devices to rapidly grow over the Forecast Period (2021 – 2029) due to Technological Advancement in the Medical Sector
According to Absolute Market Insights report, devices/equipment segment will remain the fastest growing segment during forecast period in the global pediatric healthcare market. Cardiology devices are long, thin, flexible tubes that are threaded into a heart or other blood vessel. The purpose of threading activities is to open narrowed or blocked areas so that the blood flow to the heart can be improved, along with chest pain reduction. These devices are commonly used for the treatment of heart attacks. In September 2021, Children's Hospital Los Angeles (CHLA) inaugurated new heart institute faculty. Increased advancements in medical devices and equipment, specifically for pediatric patients, is anticipated to further the segment’s growth in the global market over the forecast period.
Rising volume of pediatric patient cases kept the market strong in the North America Region in 2020
According to various online reports, rising volume of pediatric cases was a leading cause of for the necessity of pediatric healthcare in 2020. North America region was the largest regional market in 2020 due to presence of key market players, rising volume of pediatric cases, rise in government initiatives to create awareness in people for pediatric treatments as well as disorders, and availability of advanced medical sector. In North America, especially in USA, the volume of children suffering from autism, cerebral palsy, muscular atrophy, and respiratory disorders is rapidly increasing. According to the 2018 statistics from American Academy of Allergy, Asthma & Immunology, more than 40% of children in USA had allergies and due to this, which contributed towards the high demand for pediatric healthcare in the country. Other factors contributing to the market in this region include increasing investment in R&D in medical sector, high adoption of telehealth services, launch of new products by key players for pediatric patients, and improvements in healthcare infrastructure. In August 2021, the U.S. Department of Health and Human Services, awarded US $ 10.7 million from the American Rescue Plan to integrate telehealth services into pediatric care. This funding is meant to expand behavioral healthcare access for children.
Global Pediatric Healthcare Market:
General Anaesthetics and Oxygen
Pain and Palliative Care
Immunomodulators and Antineoplastics
Medicines Affecting the Blood (Antianaemia Medicines, Coagulation, etc.)
Disinfectants and Antiseptics
Endocrine Disorders Medicines
Others (Diagnostic Agents, Respiratory Tract Medicines, Etc.)
In Vitro Diagnostic (IVD) Devices
Diagnostic Imaging Devices
Anesthesia and Respiratory Care Devices
Pediatric Surgical Services
Neonates (Below 28 days)
Infants (29 days to less than 2 years)
Children (2 years to less than 12 years)
Adolescents (12 years to less than 21 years)
By Distribution Channels:
Pharmacy & Drug Stores
Hospitals & Clinics
Rest of North America
Rest of Europe
Rest of Southeast Asia
Rest of Asia Pacific
Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
Company: Absolute Markets Insights
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Contact Name: Shreyas Tanna