Portland, OR, Oct. 26, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, 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. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $5.6 Billion |
| Market Size in 2031 | $8.8 Billion |
| CAGR | 4.7% |
| No. of Pages in Report | 290 |
| Segments covered | Type, Application, End User, and Region |
| Drivers | 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 | |
| Increase in the installation of advanced radiology tools | |
| Surge in investments in the pediatric radiology sector | |
| New product approvals and product launches | |
| Increase in the number of private pediatric hospitals | |
| Improvements in healthcare facilities in developing nations | |
| Opportunities | Emerging healthcare market in developing countries and low-income countries lacking access to basic healthcare |
| Increase in the risk of pandemics and communicable diseases | |
| Restraints | High cost of advanced pediatric radiology and dearth of skilled and experienced sonographers worldwide |
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.
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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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CsEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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