Pediatric Radiology Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

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 provides the value (in USD million) for the above-mentioned segments.

Pediatric Radiology Market Size

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Pediatric Radiology Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 6.99 Billion
Market Size (2029) USD 8.70 Billion
CAGR (2024 - 2029) 4.50 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Pediatric Radiology Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Pediatric Radiology Market Analysis

The Pediatric Radiology Market size is estimated at USD 6.99 billion in 2024, and is expected to reach USD 8.70 billion by 2029, growing at a CAGR of 4.5% during the forecast period (2024-2029).

COVID-19 had a significant impact on the pediatric radiology market. According to a research article by the Radiological Society of North America published 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-19 control era, 669 imaging studies documented bone fractures in 145/568 children (25.5%), while in the COVID-19 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 across the globe, the studied market was expected to regain its full potential over the next few years. Therefore, it was observed that the market studied was significantly impacted due to the emergence of the COVID-19 pandemic. However, currently, with the relaxation of COVID-19 restrictions, the market has reached its pre-pandemic nature in terms of radiology procedures and is expected to witness healthy growth during the forecast period.

The major factors driving the market's growth include the rising incidence of chronic conditions in children, such as asthma, pneumonia, fractures, and congenital abnormalities. 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's April 2021 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 the market growth.

Additionally, the launch of new products and the adoption of key strategies such as partnerships, investments, acquisitions, and others are 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, ethical issues in pediatric research and a lack of skilled healthcare professionals are expected to hinder the market's growth during the study period.

Pediatric Radiology 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 various conditions within the brain, chest, abdomen, pelvis, and extremities. The market segment's growth can be attributed to factors such as 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.

The increasing burden of premature births and pediatric diseases is driving the demand for magnetic resonance imaging equipment. For instance, as per the data from PubMed published in July 2021, preterm birth is a birth that occurs before completing 37 weeks of pregnancy, and approximately 15 million babies were born preterm annually worldwide, indicating a global preterm birth rate of about 11%. As preterm birth is associated with issues in the neurological system, MRI is widely preferred to diagnose the abnormality in the brain. Thus, the demand for pediatric MRI is rising for 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 hospital's children's ward. 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 deeply inside the brain during surgeries to help children with severe seizures and protect their healthy brain tissue when removing tumors.

Thusches, the segment is expected to witness significant growth over the forecast pe due to the increasing burden of preterm births and new launchesriod.

Pediatric Radiology Market - Incidence Rate of Childhood Cancer (in %), Global, 2021

North America Holds a Significant Share in the Market

North America is expected to hold a major share of the market studied. Within North America, the United States is believed to hold 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), preterm birth affected 1 of every 10 infants born in the United States. It also reported that the rate of preterm birth among African American women (14.4%) was about 50% higher than that among white or Hispanic women (9.1% and 9.8%, respectively) during the year 2021. Since infants born preterm are at an increased risk of neurological complications, radiological procedures help diagnose and detect these conditions and thus drive the market's growth.

In addition, in December 2021, Hyperfine Inc., the Swoop MRI system manufacturer, partnered with Raising Malawi to build and cooperate with 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 and other patients. The introduction of new products is boosting the growth of the market in the region.

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

Pediatric Radiology Market - Growth Rate by Region

Pediatric Radiology Industry Overview

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 that are currently dominating the market are Esaote SpA, Siemens AG, Hitachi Ltd, Canon Inc., and Koninklijke Philips N.V.

Pediatric Radiology Market Leaders

  1. Esaote SpA

  2. Siemens AG

  3. Hitachi Ltd

  4. Canon Inc

  5. Koninklijke Philips N V

*Disclaimer: Major Players sorted in no particular order

Pediatric Radiology Market Concentration
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Pediatric Radiology Market News

  • 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.
  • 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.

Pediatric Radiology Market Report - 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 Ethical Issues in Pediatric Research

      2. 4.3.2 Lack of Skilled Healthcare Professionals

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      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)

    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 Other Product Types

    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 Other End-Users

    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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Pediatric Radiology Industry Segmentation

As per the report's scope, Pediatric radiology is an imaging specialism in diagnostic radiology focused on children and fetuses. Adolescents are referred to pediatric radiologists because growing bodies are more susceptible to the adverse effects of radiation than adults of equivalent size. 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 Other End-Users), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD) for the above segments.

By Product Type
Ultrasound
MRI
X-Ray
Computed Tomography Scanner
Other Product Types
By Modality
Standalone Devices
Table-top Devices
Portable Devices
By End-User
Pediatric Clinics
Diagnostic Centers
Hospitals
Other End-Users
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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Pediatric Radiology Market Research FAQs

The Pediatric Radiology Market size is expected to reach USD 6.99 billion in 2024 and grow at a CAGR of 4.5% to reach USD 8.70 billion by 2029.

In 2024, the Pediatric Radiology Market size is expected to reach USD 6.99 billion.

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

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Pediatric Radiology Market.

In 2023, the Pediatric Radiology Market size was estimated at USD 6.68 billion. The report covers the Pediatric Radiology Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Pediatric Radiology Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Pediatric Radiology Industry Report

Statistics for the 2024 Pediatric Radiology market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Pediatric Radiology analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Pediatric Radiology Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)