Pediatric Radiology Market Expected to Reach USD 8.8
Portland, OR, Oct. 26, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the pediatric radiology market generated $5.6 billion in 2021 and is expected to reach $8.8 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031. The report offers a detailed analysis of the changing trends in the market, major segments, major investment pockets, value chain and regional landscape. , and competitive scenario. The report is a useful source of information for major market players, new entrants, investors and stakeholders in developing strategies for the future and taking action to strengthen their position in the market.
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Report coverage and details:
|Market size in 2021||$5.6 billion|
|Market size in 2031||$8.8 billion|
|Number of pages in the report||290|
|Segments Covered||Type, application, end user and region|
|Drivers||Increased prevalence of pneumonia in children|
|Increase in malnutrition rate|
|Increase in the number of pediatric clinics and doctors|
|Increase in the number of diagnostic laboratories with qualified personnel|
|Increased R&D activities for the development of advanced pediatric radiology tools|
|Increased installation of advanced radiology tools|
|Increase in investments in the pediatric radiology sector|
|New product approvals and product launches|
|Increase in the number of private pediatric hospitals|
|Health facility improvements in developing countries|
|Opportunities||Emerging healthcare market in developing and low-income countries that lack access to basic healthcare|
|Increased risk of pandemics and communicable diseases|
|Constraints||High cost of advanced pediatric radiology and shortage of qualified and experienced sonographers worldwide|
- The outbreak of the COVID-19 pandemic has 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 has faced challenges to focus on R&D activities, including the development of pediatric radiology. The entire healthcare industry has focused on vital and COVID-19 related products during the pandemic.
- There have been delays in product approvals and launches, which have further restricted market expansion. Additionally, most clinical trials have been postponed to prevent the spread of infections, which has slowed down the drug development process.
- However, the market is gradually recovering in the post-pandemic period.
The report offers 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 using tables and figures. This analysis helps market players, investors, and new entrants determine which sub-segments to rely 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 more than two-fifths of the world’s paediatrics. radiology market, and is likely to maintain its leading status during the forecast period. The report also analyzes the ultrasound segment.
Based on the application, the cardiology segment is estimated to witness the fastest CAGR of 5.7% during the forecast period. However, the other segments held the largest share in 2021, accounting for more than a third of the global pediatric radiology market and would rule till 2031. The report also provides analysis of oncology, orthopedics and medical other segments.
On the basis of end-user, the hospital segment held the largest share in 2021, accounting for more than three-fifths of the global pediatric radiology market, and would rule till 2031. However, the clinic segment is estimated specialties will experience the fastest CAGR of 5.3% during the forecast period.
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Based on the region, the market in Europe was the largest in 2021, accounting for almost a third of the global pediatric radiology market, and is expected to maintain its leading status over the forecast period. However, Asia Pacific is expected to show the highest CAGR of 5.7% from 2022 to 2031. Other regions analyzed in the study include North America and LAMEA.
Key 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 of each market player.
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“We have also published some syndicated market studies in the same field that you may be interested in. Below is the title of the report for your referenceconsidering the impact of Covid-19 on this market which will help you to assess the aftereffects of the pandemic on the short and long term growth trends of this market.
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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas. AMR offers its services in 11 industry verticals, including Life sciencesconsumer goods, materials and chemicals, construction and manufacturing, food and beverages, energy and electricity, semiconductors and electronics, automotive and transport, ICT and media, aerospace and defense and BFSI.
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