The Global Pediatric Imaging Market size is expected to reach $10.9 billion by 2026, rising at a market growth of 9.5% CAGR during the forecast period. Pediatric imaging is diagnostic radiology concerned with children that represent particular age normalities and anomalies, rather than standard imaging techniques or the specific organ. In infants, children, neonates, and young adults (under 21 years of age) with acquired disorders, pediatric radiology is mainly responsible for advanced imaging care.
The key cause for the development of pediatric imaging is the rising frequency of diagnosis related to multiple disorders in children. In addition, rising demand for personalized testing would also fuel growth in the global pediatric imaging industry. In addition, training sessions sponsored by government and private organizations focused on pediatric radiologist preparation and advancement would also drive the growth of the pediatric imaging industry. The ultimate growth factor for the pediatric imaging market would be rapid collaborations between manufacturers and research institutes. The less emphasis and lack of awareness on the pediatric imaging market may be the restraint.
As imaging specialism continues to penetrate the global healthcare environment, the use of imaging continues to gain ground in diagnostic and medical imaging operations, particularly in pediatric care. Protecting newborn babies from experiencing injuries before or after birth has increased the need for radiology in pediatric diagnosis to use the subspecialty medical imaging science.
Hospitals and children’s specialty centers will continually install pediatric imaging equipment in the future to enhance the diagnosis of small children and babies. However, rising parental speculation about access to radiation tends to put pediatric images in a bad light. In addition, pediatric imaging curriculum remains young, and radiographers face difficulties in updating pediatric imaging techniques with the upgrades.
With the sudden break of Covid-19 in late months of year 2019, the markets worldwide are unfortunately experiencing its grip. The suppliers and consumers of the products & Services are affected in a big way across the sectors resulting in declining revenues in last quarters of year 2019. The declining trend in market sizes is expected to not only sustain but will also amplify itself in year 2020 hugely disturbing the economies worldwide.
Based on End Users, the market is segmented into Hospitals, Diagnostic Centers and Others. Based on Modality, the market is segmented into Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Ultrasound, X-ray and Others. Based on Application, the market is segmented into Orthopedics, Gastroenterology, Cardiology, Oncology, Neurology and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Partnerships and Product Launches. Based on the Analysis presented in the Cardinal matrix, Samsung Electronics Co., Ltd. and Siemens AG are the forerunners in the Pediatric Imaging Market. Companies such as Canon, Inc., Koninklijke Philips N.V., Esaote SpA, Fujifilm Holdings Corporation, Hitachi, Ltd., Agfa-Gevaert Group, and General Electric (GE) Co. are some of the key innovators in Pediatric Imaging Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric (GE) Co. (GE Healthcare), Siemens AG (Siemens Healthineers), Koninklijke Philips N.V., Canon, Inc. (Canon Medical Systems Corporation), Samsung Electronics Co., Ltd. (Samsung Group) (Samsung Medison Co., Ltd.), Hitachi, Ltd., Agfa-Gevaert Group, Fujifilm Holdings Corporation, Analogic Corporation (Altaris Capital Partners), Esaote SpA.
Recent strategies deployed in Pediatric Imaging Market
Partnerships, Collaborations, and Agreements:
Mar-2020: Royal Philips teamed up with Children’s Hospital of Georgia following which the latter company has adopted Philips’ automated early detection and warning solution (IntelliVue GuardianSoftware) for pediatrics. This solution enables quick identification of signals of clinical patient deterioration and activates a warning notification to the hospital staff allowing faster response times.
Feb-2020: Siemens Healthineers announced that the Medical University of South Carolina in Charleston, S.C., installed its Magnetom Lumina 3 Tesla (3T) magnetic resonance imaging (MRI) scanner. Their partnership was signed in 2018. The partnership was focused on driving performance excellence at MUSC and producing clinical and value-driven innovations in pediatrics, cardiovascular care, radiology, and neurosciences.
Dec-2019: GE Healthcare signed an agreement with Affidea, a provider of diagnostics investigations, clinical laboratories, and cancer treatment services. The agreement was aimed to deploy imaging and digital technologies across Affidea’s diagnostic imaging services network. The former company would implement more than 200 pieces of equipment in Affidea’s network of centers across Europe. Affidea would also use GE Healthcare’s contrast media product Clariscan during MRI exams.
Dec-2019: Siemens Healthineers Canada teamed up with London Health Sciences Centre and St. Joseph’s Health Care London. Under this collaboration, Siemens would provide imaging systems to serve the community of Southern Ontario. Siemens Healthineers would replace and upgrade the hospitals’ Magnetic Resonance Imaging (MRI), Interventional Radiology, and Cardiology systems citywide and provide support services for at least ten years.
Apr-2019: Agfa collaborated with MSF Logistique for providing 20 direct radiography (DR) systems for two years. The systems would be used to build the existing analog mobile X-ray units used in the TB-Speed project. Agfa provides MSF Logistique with 20 wireless DR Retrofit systems for mobile X-ray to reduce childhood tuberculosis.
Mar-2019: Fujifilm Medical Systems U.S.A. signed partnership agreement with Epsilon Imaging, a revolutionary visualization and analysis software provider for cardiac diagnostic workflow. The partnership was aimed to expand the advanced analysis capabilities of Fujifilm’s advanced imaging and reporting offering, Synapse Cardiology PACS.
Feb-2019: Esaote announced partnership with Prestige Medical Imaging (PMI) and Glassbeam. Following this partnership, Prestige Medical Imaging aimed to expand its range of analytics software, ultrasound, and MRI systems to customers all through the eastern half of the United States.
Acquisition and Mergers:
Aug-2019: Philips acquired Carestream Health Inc.’s Healthcare Information Systems (HCIS) business in 26 of the 38 countries in which it operates. Carestream HCIS’s cloud-enabled enterprise imaging platform broadened Philips’ current enterprise diagnostic informatics solutions, including productivity enhancement, imaging data management, and advanced visualization and analysis.
Jan-2018: Canon Medical Systems Europe completed the acquisition of DelftHold BV, a provider of enterprise healthcare information technology (IT) solutions. This acquisition helped the companies in expanding their product ranges, systems, technologies, and services across the European market.
Jan-2018: Hitachi Healthcare signed an agreement to acquire VidiStar, a company focused on how doctors review and report on diagnostic exams to drive productivity, portability, and improved communication and clinical decision making. The acquisition would advance the company’s informatics strategy and analytics capabilities to improve workflow and intelligence for physicians, particularly with those providers conducting diagnostic ultrasound examinations.
Product Launches and Product Expansions:
Dec-2019: Canon Medical launched the premium AplioTM i-series ultrasound platform with updated features, including two new transducers and enhanced reporting tools. The Aplio i-series is a highly advanced and scalable ultrasound solution made up of the Aplio i600, Aplio i700, Aplio i800, and Aplio i900 systems. It includes a micro-convex (i8MCX1) iDMS transducer geared toward abdominal, fetal, and pediatric exams, as well as a pediatric sector (PST-65BT) transducer for cardiac and pediatric exams.
Jun-2019: Fujifilm launched its cardiovascular medical imaging portfolio including Synapse Cardiology PACS with Epsilon Imaging’s EchoInsight and the SonoSite Edge II point-of-care-ultrasound system (POCUS). Synapse Cardiology PACS provides capabilities and tools that help streamlining image review and reporting across all cardiovascular modalities including Adult Echocardiography, Pediatric/Fetal.
Mar-2019: Esaote introduced the MyLab X8, a high-performance, versatile ultrasound platform. The platform supports hospitals and clinics in fulfilling today’s challenges.
Nov-2018: Canon Medical unveiled a 33 MHz linear intelligent Dynamic Microslice (iDMS transducer). This high- frequency transducer uses iDMS technology and a single-crystal wideband for providing advanced resolution and detail in ultrasound imaging. The new transducer extends the existing lineup of transducers and is suitable for superficial subcutaneous imaging, carotid exams in pediatrics and pediatric/neonates, superficial nerves, and superficial vascular evaluations such as varicose veins.
Aug-2018: Royal Philips introduced the EPIQ CVx cardiovascular ultrasound system. EPIQ CVx is designed for increasing diagnostic confidence and simplifying the workflow for clinicians, providing them more time to interact with their patients and reducing the need for repeat scans. The company has launched this system for providing cardiologists with tailored applications for diagnostic, pediatric, and interventional echocardiography.
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