Pediatric Ultrasound Market Analysis Covering Size, Growth, Trends and Upcoming Opportunities

The pediatric ultrasound market size was valued at $349.00 million in 2020, and is estimated to reach $564.90 million by 2030, growing at a CAGR of 4.7% from 2021 to 2030.  

Major drivers of the market include numerous technological advancements in ultrasound devices, increase in the prevalence & incidents rate of cardiac diseases, and upsurge in the number of ultrasound diagnostic imaging procedures particularly in pediatrics. Moreover, an ultrasound procedure is generally preferred for children, as there is no threat of exposure to ionizing radiation that may harm the tender body tissues (with repeated exposure) of infants. The use of ultrasound systems for cardiology has increased for adolescents, as they are more prone to heart diseases. The cause of these diseases is a physically inactive life style, bad food habits, and smoking. However, dearth of skilled and experienced sonographers worldwide is a major factor that restrains the market pediatric ultrasound market growth.

List of Key Players

The key companies operating in the pediatric ultrasound market are General Electric Company, Koninklijke Philips N.V., Siemens AG, Samsung Medison Co. Ltd., Altaris Capital Partner LLC, Esaote SpA, Fujifilm Corporation, Konica Minolta Inc.., Mindray Medical International Limited, Samsung Electronics Co. Ltd., and Toshiba Corporation.

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Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging global pediatric ultrasound market trends and dynamics. 
• By age group, the newborn segment dominated the market in terms of revenue in 2020.
• The report provides an extensive analysis of the trends and emerging opportunities of the market. 
• In depth analysis of the global pediatric ultrasound market is conducted by constructing estimations for the key segments between 2020 and 2030.

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The pediatric ultrasound market analysis is done on the basis of age group, and region. By age group, the market is divided into segments such as newborns (0–4 weeks), infants (4 weeks to 1 year), toddlers (1–3 years), preschoolers (4–6 years), school-aged children (6–13 years), and adolescents (13–19 years). In 2020, newborn segments generated highest revenue, together accounting for about 27.6% of the total market. The use of ultrasound devices for cardiology examinations is continuously increasing for adolescents, which makes it the highest pediatric ultrasound market share, registering a CAGR of 5.6% during the forecast period. This is mainly due to increase in the prevalence of high blood pressure, smoking, and obesity among adolescents, which ultimately leads to cardiac disorders.

On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominated the market in 2020 owing to improvement in healthcare infrastructures and rise in expenditures in emerging markets (India and China) to overcome the unmet medical needs. Technological advancements to develop cost-effective devices in these nations offer a lucrative opportunity for market growth. The pediatric ultrasound market forecast from 2020 to 2030.

Several manufacturers in the global pediatric ultrasound industry stopped their business activities in 2020 due to lockdowns implemented in developed and developing countries owing to ban on industrial activities owing to the COVID-19 pandemic. This halt in production activities impacted the revenue of the Pediatric ultrasound market size. For instance, net sales of Konica dropped by 11.2% from April 2020 to March 2021. In addition, lack of man power and raw materials affected the supply chain of the global Pediatric ultrasound market. However, the market is projected to recover from the 1st quarter of 2023 due to reduced restrictions and reopening of the global Pediatric ultrasound industry. Moreover, in 2021, with the availability of vaccine against COVID-19, the market re-opened at full pace with the start of 2022.