The global pediatric software market is projected to rise to a noteworthy value through 2022. Over the past few years, there has been an increase in understanding of the difference between prescriptions for adults and children. As a result, medical device manufacturers and pharmaceutical companies are offering products that are especially dedicated to diagnosis, monitoring, and treatment of diseases in children. This, in turn, can provide an upthrust to the market. Pediatric software help in improving administration and dosage of pediatric drugs, thereby ensuring superior-quality care to patients.
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Rising incidence of chronic diseases such as cardiovascular disorders, diabetes, obesity, and neurological disorders among children is likely to stoke the growth of the pediatric software market. Swelling burden is giving rise to the need for effective diagnosis and monitoring of these diseases. Growing consciousness among parents, coupled with increasing awareness regarding the availability of technologically advanced software, can augment the market.
Governments worldwide are taking several initiatives in the form of healthcare programs to support the use of medical devices and technologies to curb infant and child mortality rates. This, in turn, is expected to drive the market. Rising disposable income and increasing healthcare expenditure can also work in favor of the market.
Incessant efforts by key players to develop effective software to enhance the quality of pediatric patient care are also anticipated to escalate market growth. For instance, in February 2017, Digital Health Solutions, a startup launched by two professionals from Indiana University School of Medicine, commercialized a software that focused on improving quality, cutting down costs, and enhancing satisfaction of pediatric patients.
On the flip side, factors such as small base of target population and lack of infrastructure in developing countries can hamper growth prospects. Moreover, dearth of skilled professionals required to operate pediatric software can inhibit the upward climb of the market. However, market players are on the continuous lookout for strategic alliances and acquisitions, which will support geographical expansion and extension in offerings. These growth strategies are resulting in technological advancements due to mutual collaboration in R&D. Therefore, an increase in such growth strategies will bode well for the market.
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The global pediatric software market has been segmented on the basis of application and geography. Based on application, the market has been bifurcated into PC terminal and mobile terminal. From a geographical standpoint, the pediatric software market has been divided into Europe, United States, India, Southeast Asia, Japan, and China. U.S. will account for a substantial share in the market through 2022. Presence of advanced healthcare infrastructure and increasing burden of chronic diseases among pediatrics are estimated to propel the market in the region. Domicile of a large number of key players can also contribute to the growth of the region.
Europe will also hold a prominent position in the pediatric software market , owing to rapid advancements in healthcare IT infrastructure. Developing APAC countries such as India and China will register healthy growth between 2017 and 2022. The growth of the region can be attributed to growing pediatric population and increasing number of healthcare facilities for children.
Some of the key players in the pediatric software market are Meditab Software, QuickPractice, Medical Software Associates, AllegianceMD, and Physician’s Computer Company.
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