Pediatric Radiology Market
PORTLAND, OR, UNITED STATES, February 22, 2023 /EINPresswire.com/ — The Pediatric Radiology market refers to the commercial market for products and services related to radiology imaging for children. Pediatric radiology is a subspecialty of radiology that focuses on imaging the unique anatomy and physiology of children. The market for pediatric radiology is growing, driven by increasing rates of pediatric disease and injury, as well as advancements in medical technology that allow for more accurate and non-invasive diagnostic imaging. Pediatric radiology services include X-rays, ultrasound, MRI, CT scans, and other diagnostic imaging tests. The global pediatric radiology market is estimated to be worth several billion dollars and is expected to continue to grow in the coming years. The COVID-19 pandemic has also led to an increased demand for pediatric radiology services, as healthcare providers seek to safely diagnose and treat pediatric patients during the pandemic.
Increase in the prevalence of pneumonia in children, rise in the malnutrition rate, increase in the number of pediatric clinics and doctors, rise in the number of diagnostic laboratories with skilled personnel, increase in R&D activities for the development of advanced pediatric radiology tools, surge in investments in the pediatric radiology sector, and new product approvals and launches in developing nations drive the growth of the global pediatric radiology market.
The global pediatric radiology market generated $5.6 billion in 2021, and is estimated to reach $8.8 billion by 2031, witnessing a CAGR of 4.7% from 2022 to 2031.
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Covid-19 Scenario:
The outbreak of the COVID-19 pandemic caused a significant decline in the growth of the global pediatric radiology market, due to the implementation of lockdown in many countries.
The pharmaceutical industry faced challenges to focus on R&D activities, including the development of pediatric radiology. The entire healthcare industry focused on life-saving and COVID-19-related products during the pandemic.
There were delays in product approvals and launches which further restricted the expansion of the market. Furthermore, most of the clinical trials were postponed to avoid the spread of infections, which slowed down the drug development process.
However, the market is gradually recovering in the post-pandemic.
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The report offers a detailed segmentation of the global pediatric radiology market based on type, application, end user, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on type, the magnetic resonance imaging (MRI) segment is expected to manifest the highest CAGR of 5.2% from 2022 to 2031. However, the others segment held the largest share in 2021, contributing to more than two-fifths of the global pediatric radiology market, and is likely to maintain its leadership status during the forecast period. The report also analyzes the ultrasound segment.
Based on application, the cardiology segment is estimated to witness the fastest CAGR of 5.7% during the forecast period. However, the others segment held the largest share in 2021, accounting for more than one-third of the global pediatric radiology market and would rule the roost through 2031. The report also provides an analysis of oncology, orthopedics, and other segments.
Based on end user, the hospitals segment held the largest share in 2021, accounting for more than three-fifths of the global pediatric radiology market, and would rule the roost through 2031. However, the specialized clinics segment is estimated to witness the fastest CAGR of 5.3% during the forecast period.
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Based on region, the market in Europe was the largest in 2021, accounting for nearly one-third of the global pediatric radiology market, and is likely to maintain its leadership status during the forecast period. However, Asia Pacific is expected to manifest the highest CAGR of 5.7% from 2022 to 2031. The other regions analyzed in the study include North America and LAMEA.
Leading players of the global pediatric radiology market analyzed in the research include Fujifilm Holdings Corporation, Canon Medical Systems, Samsung Electronics Co., Ltd., AgfaHealthcare, Carestream Health, Inc., Hitachi Healthcare, Medtronic Plc., Canon Medical System, Siemens AG, and Canon Inc.
The report analyzes these key players of the global pediatric radiology market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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