Rising occurrence of chronic ailments among children is triggering demand for Pediatric Healthcare products and services across the globe. Burgeoning worldwide populace and dedicated efforts of market participants towards development of safe and efficient feeding methods for sick children are some of the other favorable factors.
CORPAK Medsystems, Inc., in partnership with Premier Inc. and Baxa Corporation has introduced an Anti-IV enteral syringe and a feeding tube. These products prevent tubing misconnection, thus ensuring a safe feeding process. GE Healthcare’s imaging services offer complete insights, without the use of contrast injections or ionizing radiation.
Such innovations will contribute to higher adoption of the various products and services in the industry. Illness types are split into short term and long term. Upper respiratory infection, ear infection, etc. are the short term illnesses. They are transient in nature and get cured usually within 1 to 5 days of starting treatment.
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On the other hand, diseases like juvenile diabetes, asthma, allergies, cerebral palsy, obesity, epilepsy, etc. are chronic in nature, requiring long-term treatment. These illnesses call for substantial monetary expenditure from the parents.
Therapeutics is split into cerebral palsy, obesity, diabetes, chronic illnesses, asthma & allergies, and others. Treatments include medications, immunotherapy, dietary restrictions, surgical procedures, and others.
Based on regions, the pediatric healthcare industry is categorized into Japan, China, North America, Europe, India, & Southeast Asia. North America is the largest geographical segment. It is home to several novel and innovative products marketed by prominent vendors.
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Europe is the second-largest segment, chiefly due to the rising use of a range of pediatric services and products by its populace. Asia Pacific (mainly Japan, India, China, & Southeast Asia) will emerge to be a major market owing to escalating awareness of pediatric care and a booming population (especially in China and India).
Eminent players in the worldwide pediatric healthcare market include Nestle, Mead Johnson, Sanofi, GlaxoSmithKline, Abbott Laboratories, AstraZeneca, and Pfizer Inc. Some of the other reputed vendors include Danone, Nestle, Sanofi, Merck & Co., and Perrigo.
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