Pediatric Home-use Medical Devices Market Outlook 2031
- The global pediatric home-use medical devices market was valued at US$ 2.2 Bn in 2021
- The global market is projected to grow at a CAGR of 6.2% from 2022 to 2031
- The global pediatric home-use medical devices market is anticipated to reach more than US$ 4.27 Bn by the end of 2031
Global Pediatric Home-use Medical Devices Market Introduction
The medical specialty known as pediatrics is dedicated to the treatment and care of newborns, kids, and teenagers. Infants in-home medical equipment is used to treat or diagnose infants. Established pediatric child health technology networks support multi-professional stakeholder collaborations, involving children and their families, to accelerate the development and spread of new medical devices for pediatrics. This helps provide scalable offerings to the commercial sector.
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Rise in Chronic Health Conditions Among Infants and Children Across Globe
The percentage of children with chronic health conditions is rising across the globe. Chronic health conditions (both chronic illnesses and chronic physical disabilities) are generally defined as conditions that last more than 12 months and are severe enough to create some limitations in usual activities.
According to CDC’s statement, more than 40% of school-age children and adolescents in the U.S. suffer from at least one chronic health condition such as asthma, obesity, other physical conditions, and behavior/learning issues. The number of children born with heart defects or neurological problems is increasing. In 2017, Abbott published a report, which revealed that more than 71,000 children in the U.S. and the European Union are born with structural heart defects each year. Thus, rise in number of pediatric patients suffering from chronic diseases is expected to drive the demand for home-use medical devices to provide effective treatment at home.
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Technological Advancements Propelling Usage of Home-use Medical Devices
Technological innovations have led to the introduction of new devices, such as mHealth devices, continuous glucose monitoring systems, and insulin delivery systems, in pediatric care. These advanced devices are similar to Amazon’s Alexa voice-powered home appliance called KidsMD, the app developed by Boston Children’s Hospital. The software gives Alexa the new “skill” of offering simple health advice to parents about their children’s fever and medication dosage at home. Thus, technological innovations are likely to drive the global pediatric home-use medical devices market share during the forecast period.
Continuous Monitoring of Health Status of Pediatrics Fueling Monitoring Systems Segment
In terms of product, the global pediatric home-use medical devices market has been classified into ventilators, monitoring systems, heated humidifiers, suction equipment, oxygen supplier, food & IV pumps, nebulizers, and others. As per the pediatric home-use medical devices market analysis, the monitoring systems segment dominated the global market in 2021. Continuous monitoring of health status of pediatrics is crucial. Development and usage of wireless communication technologies, wearable detecting devices, and small energy consumption microchips with high efficiency data handling algorithms have made continuous monitoring possible. Home apnea monitor and wearable temperature monitoring devices are some of the monitoring instruments used to track a child’s health status. Additionally, surge in awareness about the benefits of home-use monitoring devices in child care is projected to augment the monitoring systems segment during the forecast period.
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The ventilators market segment is likely to grow at a sluggish pace during the forecast period, as trained personnel are required to operate these devices. The nebulizers segment is estimated to grow at a moderate pace during the forecast period. The nebulizers market is likely to expand in the near future due to the rise in respiratory diseases and increase in preference for home-use nebulizers in developing countries.
Wide of Range of Products and Attractive Discounts Bolstering Online Retailers Segment
Based on distribution channel, the online retailers segment accounted for more than 40% share of the global pediatric home-use medical devices market in 2021. The segment is anticipated to grow rapidly in the near future. Rise in awareness about online platforms in developing regions is projected to propel the segment during the forecast period. Furthermore, increase in trend of different promotion strategies such as free delivery, hassle-free replacements, and discount offers is likely to drive the demand for online retailers.
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Regional Outlook of Global Pediatric Home-use Medical Devices Market
North America accounted for significant share of the global pediatric home-use medical devices market in 2021. Rise in awareness and availability of advanced products are propelling the market in the region. Thus, the pediatric home-use medical devices market forecast for North America appears positive.
Increase in chronic diseases among children, awareness about the benefits of home-use devices in countries such as India and Indonesia, and surge in government investments in healthcare systems in countries in South Asia are anticipated to augment the pediatric home-use medical devices market in Asia Pacific in the next few years.
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Analysis of Key Players in Global Pediatric Home-use Medical Devices Market
The global pediatric home-use medical devices market is fragmented, with the presence of large number of players. Key players operating in the global market include Blue Spark Technologies, Inc., Medela, Owlet, Bempu Health, Koninklijke Philips N.V., Ventec Life Systems, DIMA ITALIA, Drager, and B. Braun Melsungen AG. Leading players are adopting growth strategies such as new product development, product launches, product approvals, agreements, partnerships, and mergers.
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