Global Pediatric Healthcare Market is estimated to Witness a Growth Rate of 5.1% over the Forecast Period (2021 – 2029)
PUNE, MAHARASHTRA, INDIA, April 4, 2022 /EINPresswire.com/ — The Global Pediatric Healthcare Market Report by Absolute Markets Insights is a comprehensive study about top companies, revenue share, data streams, ongoing deals, purchases and dealer volume. The report includes corrective market classifications, application definitions, and a sincere market overview. The Pediatric Healthcare market is based on specific parameters that aims to dictate proven facts to professionals who are looking to upgrade their current market aspects. Absolute Markets Insights (AMI) reports powerful growth forecast for the global pediatric healthcare market during the forecast period (2021 – 2029). AMI anticipates that the market will grow at 5.1% over the period of next eight years owing to the increasing prevalence of diseases among neonates and infants. 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.
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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.
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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.
According to Absolute Market Insights report, the children (2 years to less than 12 years) segment held the largest share in the global pediatric healthcare market in 2020. The number of children suffering from allergic diseases, gastrointestinal diseases, respiratory diseases and other chronic diseases due to their lower immunity, is rapidly increasing in many countries. Children are smaller and more active than adults. Hence, their body structures and functions change throughout childhood. If children suffering from chronic diseases become long-term device users, this creates new concerns not only about device longevity, but also for long-term exposure to implanted materials. Due to growing awareness, parents are bringing children above 2 years of age too for pediatric treatment. In September 2021, a health cloud company called Innovaccer Inc. partnered with Dayton Children’s Health Partners (DCHP) to support the pediatric network’s mission to deliver coordinated value-based care that according to doctors, can help children stay healthy.
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.
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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Global Pediatric Healthcare Market:
o General Anaesthetics and Oxygen
o Pain and Palliative Care
o Anticonvulsants/ Antiepileptics
o Anti-Infective Medicines
o Antimigraine Medicines
o Immunomodulators and Antineoplastics
o Medicines Affecting the Blood (Antianaemia Medicines, Coagulation, etc.)
o Cardiovascular Medicines
o Dermatological Medicines
o Disinfectants and Antiseptics
o Gastrointestinal Medicines
o Endocrine Disorders Medicines
o Others (Diagnostic Agents, Respiratory Tract Medicines, Etc.)
o In Vitro Diagnostic (IVD) Devices
o Diagnostic Imaging Devices
o Anesthesia and Respiratory Care Devices
o Cardiology Devices
o Orthopaedic Devices
o Monitoring Devices
o Pediatric Surgical Services
o Nursing Services
o Pediatric Therapy
• 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
• Specialty Stores
• Hospitals & Clinics
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
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April 04, 2022, 14:37 GMT
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