Asia-Pacific accounted for the highest share in the world pediatric ultrasound market for cardiology in 2015, and is expected to grow at a CAGR of 4.1%. This is attributable to the rising numbe r of pediatric congenital and acquired heart diseases in the developing countries, such as India and China, and increasing awareness related to early detection of cardiac diseases.
Pediatric Ultrasound Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $332 million by 2022, registering a CAGR of 4% during the period 2016-2022.The adolescents (13-19 years) group led with one-fourth share of the overall market in 2015, and is expected to maintain its position throughout.
Europe was the second leading market, generating a market share of 27.7% in 2015, due to the high adoption rate of advanced technologies for diagnosis in European nations and high rate of heart diseases among adolescents owing to smoking, obesity, and physical inactivity.
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The prominent players profiled in this report include Analogic Corporation, Esaote SpA, Fujifilm Corporation, General Electric Company, Hitachi, Ltd., Koninklijke Philips N.V., Mindray Medical International Limited, Samsung Medison Co. Ltd., and Siemens Healthcare.
The major factors boosting the market growth include technological advancements in ultrasound systems (such as 4D imaging capabilities incorporated in Vivid E95 cardiovascular ultrasound system), increase in incidence of cardiac diseases, and rise in public and private investments, grants, & funds for the development of more advanced ultrasound devices. In addition, increasing number of ultrasound diagnostic imaging procedures, rising demand for minimal invasive therapies, and growing awareness for early disease diagnosis are expected to drive the demand for pediatric cardiac ultrasound. Conversely, lack of skilled and experienced sonographers or pediatric cardiologists worldwide restrains the market growth.
The adolescents (aged 1319) segment accounted for the largest share of the market in 2015, and is anticipated to grow at a CAGR of 4.5% from 2016 to 2022. This is due to the inactive lifestyle and obesity, which causes acquired heart diseases in adolescents, thus resulting in high use of echocardiogram. An ultrasound procedure is generally preferred for children as there is no threat of exposure to ionizing radiation that may harm the tender body tissues (with repeated exposure) of infants.
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Key findings of the pediatric ultrasound market study:
- Asia-Pacific dominated the market and is expected to maintain it lead throughout the forecast period, with a CAGR of 4.1%
- Europe was the second leading market and is estimated to grow at a CAGR of 3.7%
- The adolescents (aged 1319) segment was dominant in 2015, occupying largest revenue share and is anticipated to grow at a CAGR of 4.5%
- Newborns (aged 04 weeks) accounted for second largest market share in 2015 and is anticipated to grow at a CAGR of 4.3%
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