Pediatric Ultrasound Market Research, 2030
The pediatric ultrasound market size was valued at $349.0 million in 2020 and is projected to reach $564.9 million by 2030, growing at a CAGR of 4.7% from 2020 to 2030. Pediatric ultrasound for cardiology, also known as echocardiograph, is done for attaining a complete view of congenital and acquired heart diseases in children. Echocardiographic evaluation gives detailed information of numerous lesions present in the pediatric heart. Ultrasound waves or sound waves are used to develop different images of heart, and a Doppler test is done to measure the speed and direction of blood flow. These two tests are combined and used by the pediatric cardiologist or pediatric sonographer to learn aspects regarding the functioning of the heart and its anatomy. Echocardiography is the most common test used in children to diagnose or rule out heart disease and also to follow children who have already been diagnosed with a heart problem. This test can be performed on children of all ages, including fetuses and newborns to adolescents. The global pediatric ultrasound market is a growing industry, mainly due to the large number of technological advancements (such as 3D & 4D imaging) in ultrasound systems, increased prevalence & incidence rate of cardiac diseases in children, and rise in awareness for early disease diagnosis.
Rise in incidents of chronic heart diseases in children, technological advancements, and surge in the emphasis on early prevention are some of the major factors that drive the pediatric ultrasound market. However, dearth of experienced sonographers and technological limitations of ultrasound to scan obese patients is expected to hamper the pediatric ultrasound market growth. Approximately, one out of every four newborns undergo an ultrasound examination for the confirmation of proper functioning of heart. In adolescents, abnormal heart rhythms and infectious endocarditis are frequently seen. The cause is mainly an inactive lifestyle, bad food habits, and stress. A rapid growth was observed in the shipments of these devices to provide improved healthcare services in emerging nations. This is anticipated to offset the challenging conditions in mature markets, such as North America and Europe. The pediatric ultrasound market forecast from 2020 to 2030.
Major players such as Esaote SpA, General Electric Company, Fujifim Holdings Corporation and others have adopted product launch strategy to improve their product portfolio to maintain competition in the market. For instance, in May 2021, Esaote SpA launched the new MyLab "X75 ultrasound system. MyLab™X75 offers access to specific clinical solutions such as micro-vascularization assessment, liver stiffness quantification as well as Zero-Click left ventricle functional analysis. This is projected to improve the product portfolio of the company. Such instances are expected to provide lucrative pediatric ultrasound market opportunity for the major players for the market.
The COVID-19 pandemic forced many companies in the global Pediatric Ultrasound industry to halt business operations for a short term to comply with new government regulations to curb the spread of the disease. This halt in operations directly impacts revenue flow of the global Pediatric Ultrasound market. In addition, there is a halt in manufacturing of industrial products owing to lack of raw materials and manpower in the lockdown period. Further, no new consignments are received by companies that operate in this sector. Hence, halt in industrial activities and lockdowns for several months has affected the global Pediatric Ultrasound market.
However, dearth of skilled and experienced sonographers worldwide is a major factor that restrains the pediatric ultrasound industry growth.
The pediatric ultrasound market is segmented on the basis of age group and region. By age group, the market is divided into segments such as, newborns (0–4 weeks), infants (4 weeks to 1 year), toddlers (1–3 years), preschoolers (4–6 years), school-aged children (6–13 years), and adolescents (13–19 years). Newborns segments generated the highest revenue in 2020. In 2020, newborn segments generated highest revenue, together accounting for about 27.6% of the pediatric ultrasound market share.
The use of ultrasound devices for cardiology examinations is continuously increasing for adolescents, which makes it the fastest growing segment, registering a CAGR of 5.6% during the forecast period. This is mainly due to increase in the prevalence of high blood pressure, smoking, and obesity among adolescents, which ultimately leads to cardiac disorders.Handheld ultrasound segment generated the highest pediatric ultrasound market share in 2020.
On the basis of region, the pediatric ultrasound market size is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific witnessed the highest pediatric ultrasound market share, followed by Europe. LAMEA is predicted to grow faster than Asia-Pacific with a CAGR of 6.9% during the forecast period.
COMPETITION ANALYSIS
The key companies operating in the Pediatric Ultrasound market are General Electric Company, Koninklijke Philips N.V., Siemens AG, Samsung Medison Co. Ltd., Altaris Capital Partner LLC, Esaote SpA, Fujifilm Corporation, Konica Minolta Inc.., Mindray Medical International Limited, Samsung Electronics Co. Ltd., and Toshiba Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pediatric ultrasound market analysis from 2020 to 2030 to identify the prevailing pediatric ultrasound market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the pediatric ultrasound market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global pediatric ultrasound market trends, key players, market segments, application areas, and market growth strategies.
Pediatric Ultrasound Market Report Highlights
| Aspects | Details |
 By Age Group |
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 By Modality |
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 By End User |
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 By Region |
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 Key Market Players | Mindray Medical International Limited, Easote SpA, Alpinion Group, General Electric Company, Sonoscape Medical Corp., Advin Healthcare, Samsung Medison Co. Ltd, Siemens AG, Fujifilm Corporation, Koninklijke Philips N.V. |
Analyst Review
This section provides various opinions of the top-level CXOs in pediatric ultrasound for cardiology. In accordance to several interviews conducted, the utilization of ultrasound devices for cardiology in pediatrics is expected to witness a significant rise with increase in the diagnosis of congenital and acquired heart diseases. The pediatric ultrasound market has piqued the interest of healthcare providers. This interest is due to several benefits offered by these devices. The benefits include the diagnosis and treatment of clinical disorders related to heart, coupled with the evolving indications for pediatric cardiology. There have been remarkable technological advancements in cardiac ultrasound devices to provide advanced treatment options for patients with heart disease.
According to the perspectives of CXOs of leading companies in the market, rise in incidents of chronic heart diseases in children, technological advancements, and surge in the emphasis on early prevention are some of the major factors that drive the growth of pediatric ultrasound market. However, dearth of experienced sonographers and technological limitations of ultrasound to scan obese patients is anticipated to hamper the growth of pediatric ultrasound market. According to the CXOs, approximately one out of every four newborns undergoes an ultrasound examination for the confirmation of proper functioning of heart. In adolescents, abnormal heart rhythms and infectious endocarditis are frequently seen. The cause is mainly an inactive lifestyle, bad food habits, and stress. In addition, emerging markets have high unmet needs hence manufacturers and distributors have gained more importance in these nations. A rapid growth was observed in the shipments of these devices to provide improved healthcare services in emerging nations. This is expected to offset the challenging conditions in mature markets such as North America and Europe.
A rise in chronic diseases among child population, are the key trends in the global pediatric ultrasound market.
Pediatric ultrasound are used in hospitals,. and specialty clinics.
Asia-Pacific region dominate the market in 2020.
The global pediatric ultrasound market was valued at $349.0 million in 2020 and is projected to reach $564.9 million by 2030, growing at a CAGR of 4.7% from 2020 to 2030.
Bayer AG, Siemens AG, and Fujifilm Corporation are the companies holds the large share for pediatric ultrasound market.
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