Pediatric Imaging Market Size, Share & Trends Analysis Report By Modality (X-ray, Ultrasound, MRI, CT), By Application (Gastroenterology, Cardiology, Oncology), By End User, By Region, And Segment Forecasts, 2020 - 2027

Report Overview

The global pediatric imaging market size was valued at USD 6.8 billion in 2019 and is projected to expand at a CAGR of 7.6% during the forecast period. Increasing demand for advanced healthcare practices in pediatric care, rising number of surgical procedures, and government initiatives to raise awareness and increase the reach of novel pediatric imaging techniques are the key factors driving the market.

Moreover, increasing focus of market players on new product development and strategic collaborations to develop advanced pediatric imaging modalities is expected to propel the market growth. High radiation risk particularly in pediatric patients, which may result in the occurrence of cancer and high installation cost are some of the factors that may hinder the market growth.

Adoption of advanced technology in different healthcare settings including hospitals and pediatric specialty clinics is anticipated to have a significant effect on the overall market growth in developing as well as developed regions. For instance, in August 2018, Lucile Packard Children’s Hospital Stanford established a new surgical center that includes a novel hybrid operating suite and enables immediate evaluation of post-surgical interventions. Such advancements help increase patient safety significantly and minimize the overall turnaround time as well as hospital stay, thus reducing overall treatment cost. The overall price of advanced technologies is anticipated to deflate with the availability of next-generation microchips, thus boosting the adoption of these imaging devices, especially in developing countries.

The rising number of premature births, expanding incidence of pediatric diseases, and high demand for preventive care and imaging solutions are some of the factors driving the demand for novel pediatric imaging systems. According to the Centers for Disease Control and Prevention (CDC), around 9.2 million children in the U.S. are admitted to the emergency department from accidental injuries such as falls, road traffic, and burns. The inability of pediatric patients in explaining specific problems significantly enhances the use of effective pediatric imaging solutions. Moreover, increasing cases of birth defects requires effective imaging technologies to minimize complications.

Increasing investment on advanced technology and frequent product launches by market players are the factors expected to have a positive impact on the market growth in upcoming years. Also, increasing initiatives by various government as well as non-government organizations to spread awareness related to pediatric diagnostic imaging exams is expected to boost the global procedural volume. For instance, in December 2018, the American College of Radiology (ACR) and the Radiological Society of North America (RSNA) launched a new section- RadInfo 4 Kids on their official website. The informational website was aimed to providing information about radiology to children and their guardians.

Modality Insights

Magnetic Resonance Imaging (MRI) accounted for the largest market size owing to increasing demand in hospital settings combined with technological advancements. Advanced fast scan methods such as single-shot technique and gradient-echo provide faster and clearer images. These techniques are specifically helpful in pediatric imaging where patient-operator compliance is minimal. In September 2019, researchers from the University of Colorado, School of Medicine identified a new imaging method named fast MRI, which was effective in analyzing pediatric Traumatic Brain Injuries (TBI), thereby eliminating risks related to ionizing radiation exposure and anesthesia.

The ultrasound segment followed magnetic resonance imaging and is expected to grow at a lucrative rate during the forecast period. The growth can be attributed to factors such as easy availability of imaging devices, skilled professionals, affordability, and frequent launch of new products that are specifically tailored for pediatric patients. For instance, in August 2018, Royal Philips launched the EPIQ CVx cardiovascular ultrasound system, designed specifically to allow easy screening to clinicians. The system offers advanced features such as image slicing, anatomical intelligence, and advanced 3D organ modeling.

Application Insights

Based on application, the orthopedics/trauma segment dominated the pediatric imaging market share in 2019 owing to factors such as increasing cases of juvenile arthritis and other bone defects in children. According to the Arthritis Foundation, around 300,000 babies and children have arthritis or rheumatic conditions.

Along with these, increasing cases of traumatic injuries is expected to drive the demand for faster and accurate imaging solutions. According to the American Association of Neurological Surgeons (AANS), an estimated 435,000 emergency room visits and 37,000 hospitalizations associated with TBI are reported in children below 14 years of age. AANS further stated that recreational activities and sports represent around 21% of all TBIs in pediatrics.

Moreover, the gastroenterology segment is expected to grow at a lucrative rate during the forecast period. The high growth rate of the segment is primarily attributed to increasing Inflammatory Bowel Diseases (IBDs) such as Ulcerative Colitis (UC) and Crohn’s Disease (CD).

End-user Insights

Based on end-user, the market is segmented into hospitals, diagnostic centers, and others. The hospital segment captured the largest market share in 2019 and is expected to dominate throughout the forecast period. This can be attributed to increasing collaboration activities by market players with hospitals to advance pediatric care. For instance, in November 2017, Koninklijke Philips and Omaha Children’s Hospital & Medical Center collaborated to lower the cost of pediatric care and assist with diagnostic imaging, patient monitoring, clinical informatics, and respiratory solutions.

The diagnostic centers segment exhibited a considerable growth rate of over 8.0% over the forecast period, owing to factors such as affordable imaging due to a reduction in hospitalization and associated costs. Moreover, diagnostic centers offer advanced imaging solutions available in the market with advantages such as noise reduction, affordable services, and wide range of scanning options.

Regional Insights

On the basis of region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America dominated the market in 2019 owing to favorable reimbursement policies and increasing research and innovation. For instance, in September 2018, Bracco Diagnostics Inc. provided a grant of US$ 300,000 to Children’s Hospital of Philadelphia (CHOP) to fund research and train technicians to use a new technology of contrast ultrasound. Also, medical coverage granted by the Children's Health Insurance Program (CHIP) for pediatric patients in the U.S., which covers imaging services is a major factor propelling the market growth.

Asia Pacific market is expected to grow at a lucrative rate over the forecast period. High growth rate in the region is primarily attributed to increasing penetration of market players in the developing countries, rising prevalence of pediatric diseases, and favorable government policies supporting pediatric care. In December 2018, Royal Philips introduced Philips’ Lumify, a low-cost diagnostic ultrasound tool in several Asian countries, thereby enabling healthcare professionals to provide better health coverage.

Pediatric Imaging Market Share Insights

The leading players present in the market include GE Healthcare; Siemens Healthineers; Koninklijke Philips N.V.(Royal Philips); Fujifilm Holdings Corporation; Toshiba Medical Systems Corporation; Samsung Electronics Co., Ltd.; Agfa Healthcare; and Carestream Health, Inc. The increasing number of product launches, product innovations, and research collaborations are the major strategies adopted by the market players to maintain their market share.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global pediatric imaging market report on the basis of modality, application, end user, and region:

• Modality Outlook (Revenue, USD Million, 2016 - 2027)

  • Ultrasound

  • Magnetic Resonance Imaging (MRI)

  • Computed Tomography (CT)

  • X-ray

  • Others

• Application Outlook (Revenue, USD Million, 2016 - 2027)

  • Oncology

  • Cardiology

  • Orthopedics/Trauma

  • Gastroenterology

  • Neurology

  • Others

• End-user Outlook (Revenue, USD Million, 2016 - 2027)

  • Hospitals

  • Diagnostic Centers

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Chile

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE