(PharmaNewsWire.Com, July 25, 2024 ) InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Pediatric Hospitals Market- (By Therapeutic Area (Endocrinology, Gastroenterology and Others), By Hospitals Type (Publicly/Government-Owned, Not-For-Profit Privately Owned and For-profit Privately Owned)), By Region, Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
The market is expected to grow substantially, driven by a rise in the pediatric population, growing incomes & increasing willingness among parents to seek an opinion from super-specialists, and an increase in the advancement of the digital health system. The primary factor driving the growth is the increasing prevalence of pediatric disease across numerous countries. The demand for pediatric services is growing due to the rapid expansion of the hospital sector. There is a significant increase in investment in pediatric hospitals for research and treatment, particularly for rare diseases, is expected to drive the market further. The pediatric hospital market in India is expected to witness the fastest growth owing to the increasing prevalence of chronic diseases, infectious diseases, and neonatal health challenges has led to a greater need for specialized pediatric care facilities. Government initiatives aimed at expanding healthcare infrastructure, improving access to healthcare, and promoting child health have further bolstered the growth of pediatric hospitals. These factors are expected to contribute to the growth of the industry.
List of Prominent Players in the Pediatric Hospitals Market: • Asan Medical Center • Boston Children's Hospital • Children’s Health Queensland (The State of Queensland) • Children’s Hospital Los Angeles • Cincinnati Children's Hospital Medical Center • Great Ormond Street Hospital for Children • Hôpital Necker-Enfants Malades/AP-HP • Texas Children’s • The Children’s Hospital of Philadelphia • The Hospital for Sick Children (SickKids)
Market Dynamics:
Drivers: The growing consumer awareness of health and wellness is a significant driver of the pediatric hospital market. This heightened consciousness has resulted in a surge in demand for pediatric healthcare products perceived as healthier and more natural alternatives. Furthermore, technological advancements within the pediatric hospital market have led to the emergence of more efficient and sustainable production methods, further enhancing market growth. The key players in the industry are making substantial investments, which are anticipated to drive innovation and fuel market expansion. Increased need for chronic illness care, diarrhoea, and injury-related sickness are becoming increasingly prevalent in children; nevertheless, these diseases range from short-term to long-term therapies, which take time. The incidence rate of pediatric disorders rises as childcare trends change. Over the forecast period, these factors are expected to fuel the growth of the pediatric hospital market.
Challenges: The pediatric hospital market faces several challenges that can impact its growth and effectiveness. One significant challenge is the ethical consideration surrounding the testing and marketing of products specifically designed for children. There is a fine line between promoting health and exploiting a vulnerable demographic. Additionally, the market must navigate the unique regulatory environment that governs pediatric drugs and devices, which can be more stringent than those for adults. Another challenge is the need for age-appropriate product development, requiring specialized research and design to ensure safety and efficacy for children of different ages and developmental stages. Furthermore, the pediatric market must address the limited healthcare infrastructure in some regions, which can hinder access to pediatric care and products.
Regional Trends: The North American pediatric hospital market is expected to grow significantly over the forecast period, attributed to the increase in investment by the government in the pediatric healthcare system and the presence of numerous major players enhancing the growth with the development and innovation of pediatric medical drugs and equipment. Besides, Europe had a substantial share in the market due to the developed economy and increasing prevalence of malnutrition among children, which boosted the demand for pediatric hospital services. Moreover, the presence of key market players and growing collaboration among major players for market penetration in the region provides the opportunity for growth in the global pediatric hospital market.
Recent Developments: • In April 2024, the University Children's Hospital Basel (UKBB), an independent, university-based center of excellence for adolescent and pediatric medicine, along with education and research, announced to deployment of Microsoft Copilot solution. • In February 2024, The University of Texas Southwestern Medical Center and Children’s Health announced a plan for a new pediatric health campus for around USD 5 billion in Dallas, Southwestern Medical District. • In November 2023, Wolters Kluwer N.V. announced the adoption of its Ovid Synthesis solution by the U.S. three children’s hospitals, such as Children’s Medical Center of Dallas, Children’s Hospital of Philadelphia, and Stanford Health Care.
Pediatric Hospitals Market- By Hospitals Type • Publicly/Government-Owned • Not-for-profit privately Owned • For-profit privately Owned
Pediatric Hospitals Market- By Region North America- • The US • Canada • Mexico Europe- • Germany • The UK • France • Italy • Spain • Rest of Europe Asia-Pacific- • China • Japan • India • South Korea • Southeast Asia • Rest of Asia Pacific Latin America- • Brazil • Argentina • Rest of Latin America Middle East & Africa- • GCC Countries • South Africa • Rest of Middle East and Africa
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