The pediatric healthcare market in Europe is anticipated to be valued at USD 18.34 billion by 2028 from USD 13.58 billion in 2023, growing at a CAGR of 6.2% from 2023 to 2028.
The growing prevalence of chronic diseases among children and the increasing number of premature babies are majorly driving the European pediatric healthcare market. Some chronic diseases in the pediatric population are obesity, atopic dermatitis, asthma and others. The growing incidence of dental cavities among children aged between 5-11 is further fuelling the European market growth. In recent years, children above five are showing more interest in consuming unhealthy outside foods with significant oil and fat substances for better-tasting food leading to several health conditions. Along with this increasing addiction to mobile phones and television, children are not showing interest in playing outside of the house, which leads to an increase in obesity cases and other health problems among the children. Nearly 1 in every 13 babies in the UK is premature babies. These premature babies need advanced healthcare infrastructure and treatment for a higher chance of survival.
The rising incidence of malnutrition among children under 18 is boosting the pediatric healthcare market in Europe. An estimated 6.5% of infants have low weight in the European region at birth. Malnutrition can be caused due to several factors for infants, due to low nutrition food intake for the mother during the pregnancy and genetic problems.
The growing adoption of technological advancements in manufacturing pediatric medical devices and therapies further contributes to the pediatric healthcare market in Europe. In addition, pharmaceutical companies in this region are increasing investment in producing pediatric medical equipment and drugs due to increasing awareness about children's health among their parents and using advanced technology such as artificial intelligence, sensor, and machine learning to increase the accuracy of the equipment used for pediatric treatment, which helps in providing better treatment to children.
On the other side, the high cost involved in the treatment procedures and the medical equipment that is being used in pediatric healthcare is making it difficult for some portion of the European population to afford these medical services, which is hampering the European pediatric healthcare market growth. In addition, side effects and complications of the treatment procedure for children or drug usage for chronic diseases also impede market growth. Furthermore, the lack of skilled professionals for researching pediatric healthcare, long-time approval for pediatric medicine, and lack of reimbursement policies are the other factor that hampers the market growth during the forecast period.
This research report on the Europe pediatric healthcare market has been segmented and sub-segmented into the following categories.
By Type:
By Treatment:
By Indication:
By Country:
Europe held a substantial share of the global market in 2021 and is expected to grow at a notable CAGR during the forecast period owing to the presence of sophisticated infrastructure in healthcare facilities, growing R&D activities, and increasing healthcare expenditure by the European population.
During the forecast period, the French pediatric healthcare market is expected to capture a considerable share of the European market due to increasing expenditure by the French government on the pediatric healthcare system. Furthermore, under the parents' healthcare insurance, children can take free healthcare treatment with the parent insurance policy. As a result, the cost of pediatric treatment under the insurance policy is less than the standard treatment for children. Additionally, the increasing number of pediatric healthcare centers in France is fuelling market growth.
On the other hand, countries such as Germany and the UK are predicted to witness a healthy CAGR during the forecast period. According to a recent survey, an estimated 13 million children and youth are present in Germany. The German healthcare system has an advanced and high-quality system in Europe due to the presence of the best doctor, specialists, and facilities. Increasing asthma cases in children in the United Kingdom is the main reason for advancing the pediatric healthcare system. Along with this, increasing post-graduation universities in pediatric healthcare also helps fuel the market growth in Germany.
KEY MARKET PLAYERS:
Companies playing a noteworthy role in the Europe pediatric healthcare market are Gilead Sciences, GlaxoSmithKline Plc., Eli Lilly, Sanofi, Abbott, Bristol-Myers Squibb Company, AxcanPharma USA, Johnson and Johnson, Pfizer, and Wyeth.
Frequently Asked Questions
The Europe pediatric healthcare market is predicted to grow at a CAGR of 6.2% from 2023 to 2028.
The growing prevalence of chronic diseases in children, rising demand for technologically advanced pediatric medical devices, increasing investment in pediatric healthcare infrastructure, and growing awareness about pediatric healthcare among parents are majorly boosting the European pediatric healthcare market.
Medtronic plc, Johnson & Johnson Services, Inc., Siemens Healthineers AG, General Electric Company, and Koninklijke Philips N.V. are some of the notable companies in the European pediatric healthcare market.
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