Pediatric Medical Devices Market Foreseen To Increase Exponentially By 2030
Pediatric Medical Devices Industry The global pediatric medical devices market size is expected to reach USD 51.9 billion by 2030, expanding at a CAGR of 7.8% over the forecast period, according to a new report by Grand View Research, Inc. The rising prevalence of chronic diseases among children such as asthma, cystic fibrosis, diabetes, epilepsy, and technological advancements in pediatric medical devices are the major growth-propelling factors for the market. Pediatric medical devices diagnose or treat diseases from birth through adolescence. The Federal Food, Drug, and Cosmetic Act consist of pediatric patients aged 21 or younger at the time of the treatment. In the U.S., the commercialization and development of pediatric medical devices lag significantly behind the medical devices for adults. In the last few years, only 24% of lifesaving medical devices have been approved by the FDA that can be used for childcare, and the majority of its users are 12 years and abo...