(MENAFN- GlobeNewsWire - Nasdaq) New York, May 26, 2023 (GLOBE NEWSWIRE) -- According to Market.us, the pediatric catheters market size is projected to surpass around US$ 12.6 billion by 2032, and it is poised to reach a CAGR of 8.1% from 2023 to 2032. Pediatric catheters are designed to report the difficulties related to cauterization in children. This catheter is made from high-grade material used for delivering medications, fluids, and gases to patients or draining bodily fluids such as urine. A pediatric catheter is also called a urinary catheter.
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Key Takeaway:
By Type, 2022, the polyvinyl chloride segment has generated a revenue share of 52.2% in 2022. By Product, the cardiovascular segment held a prominent share of the global pediatric catheter market revenue share from 2023 to 2032. By End-User, the hospitals & clinics segment held the highest market revenue share in 2022. In 2022, North America dominated the market with the highest revenue share of 32.5%. Europe held a significant revenue share of 25.2% in 2022.
A pediatric catheter is a urinary catheter that originates in sizes that are more suitable for a newborn or child's analysis. A pediatric catheter is also called a urinary catheter. Catheters care medical equipment prescribed by professionals.
Factors Affecting the Growth of the Pediatric Catheters Market
There are several factors that can affect the growth of the pediatric catheters market . Some of these factors include:
Increasing Demand for Minimally Invasive Processes : The increasing demand for minimally invasive processes and pediatric catheters play a major role in providing access to several body parts for therapeutic and diagnostic purposes driving the market growth. Development of New Catheters : Manufacturers are developing new catheter designs and materials that aid enhanced safety, patient well-being, and ease of use, propelling the market growth. Rising Awareness About Healthcare Expenditure : Rising awareness about healthcare infrastructure and an increase in healthcare spending are the major factors that fuel market growth.
Top Trends in Global Pediatric Catheters Market
One of the major trends in the global pediatric catheter market is the increasing adoption of advanced technologies in catheter design and manufacturing. Various companies are developing catheters with improved biocompatibility, which reduce the risk of infections. These are used to explain the problems that come with catheterization in children. The design of a pediatric catheter is unique, and it is normally made of dissimilar materials.
Market Growth
Pediatric cardiovascular and urological disorders are rising demand for development in catheters technology propel the market growth. Rising healthcare spending fuels the growth of the global pediatric catheter market. Technological developments in the field, which can reduce the rate of deaths amongst the pediatric population, propel the market growth. Increase in patient awareness rise in R&D initiatives drive the market growth.
Regional Analysis
The pediatric catheters market was dominated by North America, which acquired the most significant revenue share of 32.5% during the forecast period due to the rise in the prevalence of hospital-acquired infections and the presence of developed healthcare infrastructure are major factors driving the growth of the North American region.
Europe is expected to hold the second-largest market revenue share during the forecast period. Owing to the beneficial reimbursement policies for pediatric catheters.
The Asia-Pacific is projected to grow maximum revenue share during the forecast period. Owing to the rising prevalence of congenital heart defects and other anomalies in middle and low-income regions is propelling the growth of the Asia- Pacific region.
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Competitive Landscape
Investments in R&D, production capacities, and novel market initiatives drive market growth. The market is highly fragmented, with the presence of several international and domestic key players operating in the market. Numerous companies are implementing several strategies, such as the development of novel products and enhancement of the product portfolio. The competitive landscape of the market has also been examined in this report. Some of the major market players include
Johnson & Johnson Smiths Medical Boston Scientific Corporation Edwards Life Science Corporation Getinge AB Medtronic plc Cook Group Flexicare Medical Ltd. C.R. Bard, Inc. Koninklijike Philips N.V. Abbott B. Braun Melsungen AG Cardinal Health Other Key Players
Scope of the Report
| Report Attributes | Details |
| Market Value (2022) | US$ 5.9 Billion |
| Market Size in 2032 | US$ 12.6 Billion |
| CAGR (2023 to 2032) | 8.1% |
| North America Revenue Share | 32.5% |
| Europe Revenue Share | 25.2% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The increasing use of catheters and treatment processes, along with the increased hospitalization rate owing to the high incidence of disease, is likely to drive market growth. The rising incidence of neurological disorders, the increase in the prevalence of congenital heart defects, the requirement for minimally invasive surgeries, and technological developments drive the market growth. The rising prevalence of urological diseases propels the market growth. Across the world, cancer is the second biggest cause of death.
Market Restraints
The preference for drugs over medical devices is expected to hamper the market growth. In low and middle-income countries, low understanding related to pediatric catheters may suppress market growth. The market enhancement may be restricted by limited reimbursement policies and the high cost of specialists.
Market Opportunities
Technological developments such as robotics and big analytics are projected to rise competition in the market, leading to developing opportunities in the market. The increase in the use of inventive software programs accessible for measuring heart-filling pressure is projected to create lucrative opportunities in the global pediatric catheters market.
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Report Segmentation of the Pediatric Catheters Market
Type Insight
The polyvinyl chloride segment dominated the pediatric catheters market, holding the most significant revenue share of 52.2%. Polyvinyl chloride catheters provide a smooth surface from enough for insertion yet soft enough to be slightly flexible. Due to the rise in symptoms of urinary infection using other materials among the pediatric population.
Product Insight
The cardiovascular segment dominated the highest market revenue share of 41.1% in 2022. The presence of an extensive range of catheters for several interventional cardiology processes is a main factor driving the segment's growth. Congenital heart defects are the main reason for high mortality in the pediatric population.
End-User Insight
In 2022, the hospitals & clinics segment held the highest market revenue share in the global pediatric catheters market due to the rise in approval of intravascular ultrasound systems in hospitals & clinics. Hospitals & clinics provide diagnostic and therapeutic services for children with urologic conditions, including catheters.
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Market Segmentation
By Type
polyvinyl chloride Silicone Catheter Polyurethane Catheter Other Types
By Product
Cardiovascular Urology neurovascular Specialty Other Products
By End-User
Hospitals & Clinics Ambulatory Surgical Centers Other End-Users
By Geography
North America Western Europe Germany France The UK Spain Italy Portugal Ireland Austria Switzerland Benelux Nordic Rest of Western Europe
Eastern Europe Russia Poland The Czech Republic Greece Rest of Eastern Europe
APAC China Japan South Korea India Australia & New Zealand Indonesia Malaysia Philippines Singapore Thailand Vietnam Rest of APAC
Latin America Brazil Colombia Chile Argentina Costa Rica Rest of Latin America
Middle East & Africa Algeria Egypt Israel Kuwait Nigeria Saudi Arabia South Africa Turkey United Arab Emirates Rest of MEA
Recent Development of the Pediatric Catheters Market
In May 2022, - Cook Medical, a medicinal equipment manufacturer, introduced MINC+TM benchtop incubator. This incubator is a portion of supported reproductive technology. This incubator is provided for IVF hospitals in North America and Canada. In May 2022, Aesculap, Inc. acquired high-class and long-term distribution privileges for a together-developed digital medical microscope name AesculapAeos. The contract was made between Aesculap AG and True Digital Surgery, Inc.
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