Pune, India -- (SBWire) -- 11/16/2018 --The main objective of this report is to define, describe, and forecast the global "Pediatric Medical Devices" market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to the report the global pediatric medical devices market is projected to grow at a CAGR of 5.2% over the forecast period of 2018-2024.
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Growing the prevalence of infectious diseases among the pediatric population is driving the growth of the Pediatric Medical Devices Market
As per World healthcare organization, in 2012 1.7 million deaths in children under five were attributable to the environment. These included 570000 deaths from respiratory infections, 361000 deaths from diarrhoea, 270,000 deaths from neonatal conditions, 200000 deaths from malaria and 200000 deaths from unintentional injuries. Moreover, growing the prevalence of infectious diseases among the pediatric population is the major factor driving the growth of the Pediatric Medical Devices Market. Rising number of initiatives taken by the regulatory organization and increasing pediatric hospital over the globe are supporting the market growth. However, lack of awareness about the medical devices designed for the infants is anticipated to hamper the growth of the market. Going further, government initiatives for incentivizing manufacturers, streamlining the regulatory process, looking for new funding sources are the factors contributing to the market growth.
FDA approved automated insulin delivery and monitoring system for use in younger pediatric patients
In Jun 2018, The U.S. Food and Drug Administration expanded the approval of the MiniMed 670G hybrid closed looped system, a diabetes management device that is intended to automatically monitor glucose (sugar) and provide appropriate basal insulin doses with little or no input from the user, to include individuals aged 7 to 13 with type 1 diabetes. The FDA originally approved this device in September 2017 for use in patients 14 years of age and older with type 1 diabetes
North America has the largest market share in the pediatric medical devices market followed by Europe
Among the region, North America has the largest market share in the pediatric medical devices market followed by Europe. Government and regulatory bodies are taking initiatives to fund and streamline the regulatory process for the development of pediatric medical devices are boosting the growth in the pediatric medical devices market.
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The major key players in Pediatric Medical Devices Market are Boston Scientific Corporation, Abbott Laboratories, Medtronic plc, Stryker Corporation, Koninklijke Philips N.V., Siemens Healthineers, Johnson & Johnson, GE Healthcare, Cardinal Health and Baxter International, Inc.
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Pediatric Medical Devices Market - Current Competitive Analysis 2024: Boston Scientific Corporation, Abbott Laboratories, Stryker Corporation, Siemens Healthineers
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