Source : Digital Journal Transparency Market Research MicroBase Technology Corp compilation
The Market Size of The Children's Respiratory Sector
The global pediatric home-use medical devices market is anticipated to reach more
than US$ 4.27 Bn by the end of 2031. The global market is projected to grow at a CAGR of 6.2% from 2022 to 2031. Analysts' viewpoint on pediatric home-use medical devices market. Scenario children undergo dynamic changes in anatomy, physiology, and development from the neonatal stage through hood to adolescence. The heart and respiratory rates reduce, and blood pressure increase as children grow.
Versatility in device development could play an important role in addressing the needs of the pediatric population. Technology advancements have led to a significant shift in healthcare. The approach is focused on community or home settings, with the support and integration of medical devices than being hospital-centric. Miniaturization, simplification, and portability of life-sustaining medical equipment have made it possible for nurses to easily transport medical devices to homes, where pediatric patients can be comfortable and experience some degree of normalcy. Companies in the market are striving to introduce new and innovative products, such as neonatology home medical equipment, to meet the rising demand for home use medical devices.
Neonatal intensive care respiratory devices market is estimated to be 12.2 Billion by 2029 with a CAGR of 6.9% during the forecasted period. Neonatal intensive care unit is also called as a newborn intensive care unit (NICU) or intensive care nursery (ICN) and equipped with incubators, oxygen hood, ventilator, blood pressure monitor, and other equipment.
Growing prevalence of respiratory diseases in newborn babies has given positive impact on target market growth. Further, neonatal hospital-acquired infections such as Central Line-Associated Bloodstream Infections (CLABSI) has become another driving factor in market growth. Furthermore, presence of major players in developing countries and focus on creating cost-efficient, non-invasive and effective treatment options to improve neonatal health is expected to fruitful the demand for Neonatal Intensive Care Respiratory Devices market growth.
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 numb patients suffering from chronic diseases is expected to drive the demand for home-use medical devices to provide effective treatment at home.
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.