Pediatric Radiology Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Pediatric Radiology Market is segmented by Product Type (Ultrasound, MRI, X-Ray and Computed Tomography Scanner and Others), Modality (Standalone Devices, Table-top Devices, and Portable Devices), End-User (Pediatric Clinics, Diagnostic Centers, Hospitals, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.

Pediatric Radiology Market Snapshot

Pediatric Radiology Market Size
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 5.6 %

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Market Overview

The pediatric radiology market studied is anticipated to grow at a CAGR of 5.6% during the forecast period.

COVID-19 has had a significant impact on the pediatric radiology market. According to a research article titled "The Economic Impact of the COVID-19 Pandemic on Radiology Practices" published by the Radiological Society of North America in April 2020, the policy measures adopted to slow the transmission of COVID-19 resulted in a decreased demand for imaging services. Furthermore, the study detailed that in the pre-COVID control era, 669 imaging studies documented bone fractures in 145/568 children (25.5%), while in the COVID era, 79/177 (44.6%) pediatric patients showed bone fractures in 193 imaging studies. However, owing to the long-term impact of COVID-19 on the body and large-scale vaccination programs running around the world, the studied market is expected to regain its full potential over the next few years.

In addition, the major factors driving the market’s growth include the rising incidence of chronic illnesses in children, such as anemia, asthma, chickenpox, diphtheria, leukemia, measles, mumps, pneumonia, tuberculosis, whooping cough, and Lyme disease. For instance, over 800,000 children under the age of five die from pneumonia each year, more than any other infectious disease, according to UNICEF 2021's April report. This includes more than 153,000 new babies. One of the most common chronic diseases in children is pneumonia, which is increasing the demand for medical diagnostic imaging, thereby boosting market growth.

Moreover, factors such as increasing heart disease coupled with technological advancements are expected to bolster the market's growth. The most prevalent birth problem is congenital heart defects (CHD). According to the Heart Disease & Stroke Statistical Fact Sheet 2020, congenital heart abnormalities are predicted to affect at least 40,000 infants annually in the United States. Of these, 2.4 (per 1,000 live births), or roughly 25%, require medical attention in the first year of life.

Additionally, the launch of new products and adoption of key strategies such as partnerships, investments, acquisitions, and others is expected to drive the studied market. For instance, in October 2021, Royal Philips announced the launch of Philips Pediatric Coaching, a holistic solution designed to be a less stressful experience for parents and their children undergoing MRI scans. This will further enhance the adoption of pediatric radiology systems in developed countries, thus leading to the lucrative growth of the market.

However, the small size of the study population, ethical issues in pediatric research, a lack of skilled healthcare professionals, and challenges with the upgradations in pediatric imaging techniques are expected to hinder the market's growth during the study period.

Scope of the Report

Pediatric radiology is an imaging specialism in diagnostic radiology focused on children, imaging fetuses to adolescents and young adults. Adolescents are referred to pediatric radiologists because growing bodies are more susceptible to the adverse effects of radiation than adults of equivalent size. These require specialized imaging and treatment which is carried out in a Children's hospital, which has all the facilities necessary to treat children and their specific pathologies. The Pediatric Radiology Market is segmented by Product Type (Ultrasound, MRI, X-Ray and Computed Tomography Scanner, and Others), Modality (Standalone Devices, Table-top Devices, and Portable Devices), End-User (Pediatric Clinics, Diagnostic Centers, Hospitals, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

By Product Type
Ultrasound
MRI
X-Ray
Computed Tomography Scanner
Others
By Modality
Standalone Devices
Table-top Devices
Portable Devices
By End-User
Pediatric Clinics
Diagnostic Centers
Hospitals
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Magnetic Resonance Imaging (MRI) Segment is Expected to Hold the Major Market Share in the Pediatric Radiology Market

Pediatric magnetic resonance imaging (MRI) uses a powerful magnetic field, radio waves, and a computer to produce detailed pictures of the internal body structures. MRI may be used to help diagnose or monitor treatment for a variety of conditions within the brain, chest, abdomen, pelvis, and extremities. The growth of the market segment can be attributed to factors such as the increasing burden of pediatric births and pediatric diseases; growing technological advancements in pediatric imaging techniques; as well as rising collaborations, approvals, and launches to enhance pediatric care worldwide.

The increasing burden of premature births and pediatric diseases is driving the demand for magnetic resonance imaging equipment. For instance, as per the article titled, "Global burden of preterm birth" published in July 2020, preterm birth is a live birth that occurs before 37 completed weeks of pregnancy, and approximately 15 million babies are born preterm annually worldwide, indicating a global preterm birth rate of about 11%. As per the same source, with 1 million children dying due to preterm birth before the age of 5, preterm birth is the leading cause of death among children, accounting for 18% of all deaths among children aged under 5 years and as many as 35% of all deaths among newborns. Thus, the demand for pediatric MRI is on the rise in order to obtain early diagnosis and treatment.

Furthermore, the increasing initiatives are contributing to the segment’s growth. For instance, in May 2021, Neoscan Solutions invented an MRI scanner for babies. The smaller and lighter MRI scanner can be placed directly in the children's ward of the hospital. Such launches are propelling the growth of the market. Similarly, in February 2022, neurosurgeons at Primary Children's Hospital launched innovative technology to improve outcomes in children requiring brain surgery. It is a specialized intraoperative MRI to analyze deep inside the brain during surgeries to help children with severe seizures and protect their healthy brain tissue when removing tumors.

Thus, due to the above-mentioned developments, the segment is expected to witness significant growth over the forecast period.

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North America Dominates the Market and Expected to do Same in the Forecast Period.

Within North America, the United States held the major share of the market. The factors propelling the market growth are the increasing burden of pediatric births and pediatric diseases; growing technological advancements in pediatric imaging techniques; and rising collaborations, approvals, and launches to enhance pediatric care worldwide. For instance, as per the data updated in November 2021 by the Centers for Disease Control and Prevention (CDC), in 2020, preterm birth affected 1 of every 10 infants born in the United States. It also reported that in 2020, the rate of preterm birth among African American women (14.4%) was about 50 percent higher than the rate of preterm birth among white or Hispanic women (9.1% and 9.8%, respectively). Since infants born preterm are at an increased risk of neurological complications, radiological procedures help in the diagnosis and detection of these conditions and thus drive the growth of the market.

In addition, in December 2021, Hyperfine Inc., inventor of one of the first United States Food and Drug Administration cleared portable magnetic resonance imaging (MRI) devices, Swoop, entered into a partnership with Raising Malawi to build and co-operate Malawi's only specialized pediatric hospital, the Mercy James Centre for Paediatric Surgery & Intensive Care (MJC). The partnership was intended to highlight the research made possible at MJC with Hyperfine's breakthrough portable MRI system, which can be replicated to support medical research and improve patient care in other low-resource settings. Such developments are propelling the growth of the studied market in the region.

Moreover, in November 2021, Fujifilm Healthcare Americas Corporation, one of the leading providers of diagnostic imaging and medical informatics solutions, unveiled the Velocity MRI System, its advanced, high-field open MRI system, during the 2021 Radiological Society of North America (RSNA) conference. The Velocity MRI system is Fujifilm's newest MRI scanner, designed to streamline workflow and enhance the patient experience with its unique open gantry, integrated radiofrequency (RF) coils, and reconstruction technologies. The scanner's unique, open gantry creates a spacious feeling for pediatric patients and other patients. The introduction of new products is boosting the growth of the market in the region.

Thus, due to the above-mentioned developments, the market is expected to witness significant growth over the forecast period.

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Competitive Landscape

The pediatric radiology market is moderately competitive with the presence of several global and international market players. In terms of market share, a few of the major players are currently dominating the market. Some prominent players are launching new products, while others are distributing the products. Some of the companies which are currently dominating the market are Esaote SpA, Siemens AG, Hitachi Ltd, Canon Inc, and Koninklijke Philips N.V.

Recent Development

  • In August 2022, Children’s Hospital New Orleans and Cleveland Clinic announced a new affiliation to expand access to board-certified pediatric radiology experts for children and families in New Orleans and Louisiana.
  • In February 2022, the LEGO Foundation reported donating 600 LEGO MRI Scanners to hospitals worldwide to help children cope with the uncertainty of having a magnetic resonance imaging (MRI) scan.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Burden of Pediatric Diseases, such as Coronary Heart Failures, Pneumonia, and Rise in Affordability

      2. 4.2.2 Increased Government Initiatives and R&D Activities to Develop Advanced Pediatric Radiology Devices

    3. 4.3 Market Restraints

      1. 4.3.1 Small Size of Study Population and Ethical Issues in Pediatric Research

      2. 4.3.2 Lack of Skilled Healthcare Professionals and Challenges with the Upgradations in Pediatric Imaging Techniques

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value – USD million)

    1. 5.1 By Product Type

      1. 5.1.1 Ultrasound

      2. 5.1.2 MRI

      3. 5.1.3 X-Ray

      4. 5.1.4 Computed Tomography Scanner

      5. 5.1.5 Others

    2. 5.2 By Modality

      1. 5.2.1 Standalone Devices

      2. 5.2.2 Table-top Devices

      3. 5.2.3 Portable Devices

    3. 5.3 By End-User

      1. 5.3.1 Pediatric Clinics

      2. 5.3.2 Diagnostic Centers

      3. 5.3.3 Hospitals

      4. 5.3.4 Others

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Esaote SpA

      2. 6.1.2 Siemens AG

      3. 6.1.3 Hitachi Ltd

      4. 6.1.4 Canon Inc

      5. 6.1.5 Koninklijke Philips N V

      6. 6.1.6 Toshiba Corporation

      7. 6.1.7 General Electric Company

      8. 6.1.8 Samsung Medison Co Ltd

      9. 6.1.9 Analogic Corporation

      10. 6.1.10 Fujifilm Corporation

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Global Pediatric Radiology Market market is studied from 2019 - 2027.

The Global Pediatric Radiology Market is growing at a CAGR of 5.6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Esaote SpA, Siemens AG, Hitachi Ltd, Canon Inc, Koninklijke Philips N V are the major companies operating in Global Pediatric Radiology Market.

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