Market Insights
The pediatric ultrasound market was estimated at US$ 366 million in 2021 and is expected to grow at a CAGR of 4.49% during 2022-2028 to reach US$ 500.45 million in 2028.
Pediatric ultrasonography is a safe, noninvasive procedure that creates exact images of the internal organs and blood arteries of a child's abdomen using high frequency sound waves. Ultrasound is particularly helpful for assessing pelvic, abdominal, or scrotal pain in children because it is non-invasive, painless, and radiation-free. It is done to get a full picture of children's acquired and congenital disorders.
The top cause of death and disability among children in the United States, according to figures from the Centers for Disease Control and Prevention, is blunt trauma. The use of abdominal ultrasound for blunt abdominal injuries in children has grown due to the increased risk of radiation-induced scanning, such as computed tomography.
The incidence of paediatric disorders that require imaging for diagnostic purposes, growing awareness of early diagnosis, and technological developments such as 3D and 4D imaging for ultrasound systems are all contributing to the growth of the paediatric ultrasound market. Additionally, it is anticipated that the industry would rise over the coming years due to the enormous untapped potential in developing and less developed nations.
Conversely, the market for paediatric ultrasound is being constrained by a dearth of qualified staff for using imaging equipment and performing imaging on children. The limits of ultrasound diagnostics are also somewhat impeding this market's expansion.
Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market. Some of them are:
- High intensity ultrasound was recently used in an industry development to treat compressed intervertebral discs instead of invasive surgery. The technology, which was created at Oxford University's Institute of Biomedical Engineering, enables ultrasound to be directed to a specific location on the spine. High-intensity focused ultrasound is being looked at as a potential new method for treating persistent back pain that gets beyond the drawbacks of earlier approaches like partial disc replacement. In contrast to partial disc replacement, which runs the risk of implant leakage through the disc wall, high-intensity focused ultrasound includes liquefying the disc's core.
Segment Analysis
The market is divided based on age group, type, and end user.
On the basis of age group, the market is divided into newborns, infants, toddlers, preschoolers, school-aged children, and adolescents. According to age group, the neonates sector made up around one-fourth of the global market share for paediatric ultrasound equipment in 2021 and is predicted to take control by 2028. The need for paediatric ultrasonography has increased as a result of the numerous examinations newborns have to establish that their organs are functioning properly, which is driving the segment's expansion. However, the sector for toddlers would experience the quickest CAGR over the course of the projection period because of the rise in the prevalence of disorders like cardiomyopathy, cardiac murmurs, and arrhythmia in this age group.
On the basis of type, the market is bifurcated into handheld, and cart-based.
On the basis of end user, the market is segmented into hospitals, diagnostic clinics, and others. Hospitals accounted for more than three-fourths of the revenue generated by paediatric ultrasound equipment worldwide in 2021, and they are predicted to take the lead by 2028. From 2020 to 2028, the same segment would likewise exhibit the fastest CAGR. This is attributed to rise in demand for hospitals services for children across the world.
The pediatric ultrasound market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Asia Pacific is one of these and has recently made the biggest financial contributions to the total market. It is also predicted to develop the fastest over the coming years. The region's healthcare reforms, high prevalence of juvenile cardiac disorders, and unmet healthcare requirements in developing nations like China and India are all contributing to the market's expansion. While the region is mature for the use of ultrasound equipment for paediatric cardiology, the usage of technologically advanced devices is at a fledgling stage, which is projected to be good for the market's growth. Europe is predicted to be the second-largest regional market as paediatric.
Key Players
The following are the major players in the pediatric ultrasound market:
- Advin Healthcare
- Alpinion Group
- Easote SpA
- Fujifilm Corporation
- General Electric Company
- Koninklijke Philips N.V.
- Mindray Medical International Limited
- Samsung Medison Co. Ltd
- Siemens AG
- Sonoscape Medical Corp.
To maintain their position as industry leaders in the paediatric ultrasound sector, major firms are concentrating on the creation of cutting-edge products. For instance, the rising demand for small mobile devices has forced major manufacturers to concentrate on specialised product categories in order to generate long-term profits.
- The updated Acuson family was unveiled by Siemens Healthineers in July 2022 at the European Congress of Radiology (ECR) in Vienna. The updated ultrasonic portfolio is intended to solve issues in a variety of clinical applications and provide even more clinical versatility. The addition of 12 new transducers across four ultrasound systems and the extension of AI-powered tools1 provide a new level of versatility, enhancing clinical efficiency and uniformity. The new technologies are perfect for clinical practise and research, and by providing a wide range of options, they may be able to increase healthcare access.
- In May 2021, Siemens Healthineers unveiled a pediatric ultrasound. The ACUSON Sequoia ultrasound system from Siemens Healthineers was created to address these issues. Pediatric-specific transducers and measurement kits are available for the ACUSON Sequoia. Additionally, compared to traditional ultrasound, it scans quicker and produces higher-quality images. The highest levels of diagnostic precision are provided by ACUSON Sequoia for preterm neonates through teenagers the size of adults.
- Venue Fit, a simplified and portable point-of-care ultrasound (POCUS) system, and an industry-first artificial intelligence (AI) offering for cardiac imaging on the Venue and Venue Go were introduced by GE Healthcare in March 2021. The Venue Fit is the smallest system in the Venue Family from GE Healthcare, with a tiny footprint designed to fit in confined places, an easy-to-clean touchscreen, and straightforward scanning tools.
- In April 2019, Esaote launched the MyLabX5 ultrasound system in the United States.
- In November 2017, Omaha Children's Hospital and Medical Center and Koninklijke Philips N.V. partnered to reduce the cost of paediatric care and provide support for patient monitoring, diagnostic imaging, respiratory solutions, and clinical informatics.
- The MyLab9, the flagship platform in ESAOTE's ultrasound range, will be released in October 2017. It sets a new benchmark for image clarity, intelligent workflow, and reliable performance. With the use of innovative production techniques, the MyLab9 eXP provides a highly ergonomic experience, including the easyMode special touch-tool for picture adjustment.
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
