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US & Global Pediatric Medical Device Market by application (hospitals, clinic), by end users (pediatrician, doctors) & by types (infant caps, newborn hearing screener, cranial orthosis, infant warmer, incubators, bililights) - forecast to 2027Market SnapshotThe data experts at Market research future (MRFR), after circumspection of the current trends, predict that the Global Pediatric Medical Device Market is on track to grow at a CAGR of 10.5% during the forecast period (2017-2023).Market Potential and Top BarriersThe World Health Organization (WHO) reports that in 2012, roughly 1.7 million deaths in children under the age of five were caused by the environment.
These abysmal statistics are resulting in the accelerated demand for more sophisticated treatment as well as management of various diseases among children.
With the increasing number of pediatric patients succumbing to infectious diseases like gastrointestinal and respiratory disorders, the need for early diagnosis and regular monitoring has become essential for the identification, treatment and controlling of these diseases.
But less awareness about the medical devices created for infants is expected to curb the growth of the market in the future.Nonetheless, the governments around the world are under substantial pressure to tread on unexplored avenues in the field for the improvement of health of the pediatric population and reduce the financial issues in the process.
In summary, the constant efforts by governments along with the booming global healthcare industry and infrastructure will mark the success of the pediatric medical device market in the following years.Market OpportunitiesSeptember 2018The Trump administration is in the process of temporarily funding the medical device manufacturers for novel devices, only when these companies are able to provide the necessary data in order to get approval for Medicare coverage.
Hence, the low-risk medical device manufacturers will be making the cut, based on the requirements of the program.Thus, the growing trend of incentivizing the medical device manufacturers by the governments worldwide will be a highly beneficial factor in the market growth of pediatric medical device in the long run.Market SegmentationThe pediatric medical device market is segmented on the basis of devices and end-user.The types of devices in the market include infant caps, infant incubators, bili lights, newborn hearing screener, infant warmer, cranial orthosis, atrial septal defect occlude, cerebrospinal fluid shunt and others.

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