The Pediatric Health Data Space (PHDS) will be a trusted digital ecosystem designed to address the unique challenges of pediatric healthcare through secure, privacy-preserving data sharing. Building on the PHEMS project, PHDS will enable collaborative research, cross-border benchmarking, and innovation while keeping hospitlas in full control of their data. Guided by principles of efficiency, security, scalability, sustainability, and compliance, PHDS will align closely with the European Health Data Space (EHDS), ensuring interoperability and regulatory readiness.