Pediatric Imaging Global Market Report 2022: Ukraine-Russia War Impact
The pediatric imaging market is expected to grow to $11.26 billion in 2026 at a CAGR of 9.2%.
NEW YORK, Dec. 1, 2022 /PRNewswire/ --
Major players in the pediatric imaging market are General Electric Company, Siemens Healthcare GmbH, Koninklijke Philips N.V, FUJIFILM Holdings Corporation, Toshiba Medical Systems Corporation, Agfa-Gevaert Group, Carestream Health, Canon Inc, Samsung Medison Co. Ltd, Hitachi Medical Corporation, Analogic Corporation, Esaote SpA, Medtronic plc, Mindray Medical International Limited, EDM Imaging, CAN-med Healthcare, EOS imaging, Philips Medical Systems Technologies Ltd., KARL STORZ Group, LMT Medical Systems GmbH, Maranda Lauzon Inc, SternMed GmbH, Trivitron Healthcare Pvt Ltd, X-MOL, and Shenzhen Anke High-tech Co. Ltd.
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The global pediatric imaging market is expected to grow from $7.01 billion in 2021 to $7.91 billion in 2022 at a compound annual growth rate (CAGR) of 12.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The pediatric imaging market is expected to grow to $11.26 billion in 2026 at a CAGR of 9.2%.
The pediatric imaging market consists of sales of pediatric imaging devices by entities (organizations, sole traders, and partnerships) that are used for scanning and diagnosing organs, body parts, muscles, and others in smaller age groups of patients, such as infants, toddlers, fetuses, young adults, and others. Pediatric imaging is a non-invasive, cutting-edge technology that scans children’s health conditions in order to provide an effective treatment plan and anticipate a child’s health risk in the earliest stages of life in order to prevent medical issues in the adolescent period.
The main modalities of paediatric imaging are ultrasound, magnetic resonance imaging (MRI), computed tomography (CT), x-ray, and others.Ultrasound is used to view and obtain information about internal body parts.
Ultrasound is an imaging technique commonly used in medical science that uses sound waves to form images of internal organs for diagnosis. The different applications include orthopedics, gastroenterology, cardiology, oncology, neurology, and others that are used in hospitals, diagnostic centers, and other end-users.
North America was the largest region in the pediatric imaging market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the pediatric imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rise in the number of pediatric ailments among children is expected to propel the growth of the pediatric imaging market going forward.Pediatric imaging is the scanning and diagnosis of smaller age group patients by using advanced technology such as ultrasound, CT scan, X-ray, and others to predict any abnormalities in children’s bodies and prepare an effective treatment plan.
Imaging in pediatric nuclear medicine is used to help identify life-threatening conditions in children that are congenital, infectious, non-infectious, or both, such as cancer. For instance, according to the National Cancer Institute, a U.S. Department of Health and Human Services, in 2021 approximately 15,990 children in the age group of 0-19 years were diagnosed with cancer in the United States. Therefore, the rise in the number of pediatric ailments among children is driving the growth of the pediatric imaging market.
Technological advancement is the key trend being followed by companies operating in the pediatric imaging market.Major companies operating in the pediatric imaging sector are focused on developing technologically advanced products to strengthen their market position.
For instance, in May 2021, Philips Healthcare, a Netherlands-based company operating in advanced medical technology for scanning, launched Spectral CT 7500, a technologically advanced super-premium scanner working on spectral technology.Spectral technology uses multiple electromagnetic waves beyond the visible spectrum RGB (Red, Blue, and Green) that are capable of obtaining a clear organ picture for diagnosis.
The Spectral CT 7500 uses spectral data for scanning to provide results in a faster manner with a more confident diagnosis. Additionally, it can be used for precision diagnosis in pediatric, bariatric, and cardiac care, oncology, emergency radiology, and others.
In March 2021, Fujifilm Holdings America Corporation, a US-based company operating in imaging diagnosis, acquired Hitachi Diagnostic Imaging for $1.38 billion (179 billion yen). Through the acquisition, Fujifilm Holdings America Corporation aims to strengthen its product portfolio in the imaging diagnosis segment by providing comprehensive solutions for a wide range of clinical needs and expanding its global reach in the imaging diagnosis segment. Hitachi Diagnostic Imaging is a Japan-based firm that offers a broad range of diagnostic imaging equipment, including MRI, CT, and ultrasound for kids and adults.
The countries covered in the pediatric imaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The paediatric imaging market research report is one of a series of new reports that provides paediatric imaging market statistics, including paediatric imaging industry global market size, regional shares, competitors with paediatric imaging market share, detailed paediatric imaging market segments, market trends, and opportunities, and any further data you may need to thrive in the paediatric imaging industry. This pediatric imaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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