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NICU Catheters Market
With a projected value of USD 0.67 billion by 2032, innovations in neonatal care fuel demand for specialized NICU catheters globally.
AUSTIN, TX, UNITED STATES, November 18, 2024 /EINPresswire / -- The NICU Catheters
market size was estimated at USD 0.40 billion in 2023 and is expected to reach USD 0.67 billion by 2032 at a CAGR of 5.87% during the forecast period of 2024-2032.
The NICU Catheters Market is influenced by a worldwide increase in demands for neonatal care, with heightened awareness of the necessity for specialized tools to assist at-risk infants. The rise in NICU access, especially in developing areas, has led to a greater need for advanced catheters. Statistics indicate that 11.9% of all births, with 4.1% of high-acuity cases, necessitate NICU admission, highlighting the importance of safe and effective neonatal catheter options.
Market Analysis
The NICU Catheters Market has experienced notable expansion driven by higher rates of premature births and growing expenses in pediatric healthcare. In 2023, roughly 380,548 infants were born preterm in the United States. This increase in premature births is linked to elements like maternal health problems, older maternal age, and socioeconomic conditions, which subsequently raise the demand for NICUs and the use of specialized catheters. This trend has prompted healthcare facilities to invest in cutting-edge NICU units and advanced catheter solutions for vulnerable newborns.
In 2023, global spending on pediatric healthcare hit USD 13.02 billion, highlighting the dedication of healthcare systems to newborn care. Funding for NICU equipment not only boosts neonatal health results but also promotes research and development for improved neonatal technology. With the rising need for neonatal care, it is anticipated that both the public and private sectors will boost their investments, especially in areas with inadequate healthcare infrastructure. Heightened expenditure is expected to drive new product development, encouraging a competitive environment in the NICU Catheters Market.
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Key Players:
· Becton, Dickinson and Company (BD Nexiva Closed IV Catheter System, BD Insyte Autoguard IV Catheter)
· Footprint Medical Incorporated (Footprint Medical Catheter Securement Device, Footprint Medical IV Catheter Stabilization Device)
· Vigmed AB (Vigmed Safety Catheter, Vigmed VigiFlow Catheter)
· NeoMedical Inc. (NeoMedical NeoCat Catheter, NeoMedical NeoAccess Catheter)
· Smiths Medical (Portex Pediatric Catheters, Medex Catheter Products)
· Advin Health Care (Advin PICC Catheters, Advin Peripheral Catheters)
· ICU Medical Inc. (ICU Medical Dual-Lumen Catheter, ICU Medical CLAVE Connector)
· Marian Medical Inc. (Marian Medical PICC Catheters, Marian Medical Pediatric IV Catheters)
· Bactiguard AB (Bactiguard Infection Protection Catheters, Bactiguard Pediatric Catheters)
· Cardinal Health Inc. (Cardinal Health PICC Catheters, Cardinal Health Peripheral IV Catheters)
· Abbott (U.S) (Abbott Freestyle Libre Sensors, Abbott PICC Catheters)
· Boston Scientific Corporation (U.S) (Boston Scientific Rhythmia Catheter, Boston Scientific EP Catheter)
· Medtronic (Ireland) (Medtronic Swan-Ganz Catheter, Medtronic TLD Catheter)
· Cook (U.S) (Cook Pediatric PICC Catheter, Cook Introducer Sheath)
· Johnson & Johnson Private Limited (U.S) (Ethicon Catheters, Mentor Catheters)
· Smith & Nephew plc (Germany) (Smith & Nephew IV Catheters, Smith & Nephew Securement Devices)
· Cardinal Health (U.S) (Cardinal Health PICC Catheters, Cardinal Health Peripheral IV Catheters)
· Terumo Corporation (Japan) (Terumo Surflo IV Catheters, Terumo PICC Catheters)
· Conavi Medical (U.S) (Conavi Medical Imaging Catheters, Conavi Medical Catheter Systems)
· Edwards Lifesciences Corporation (U.S) (Edwards Lifesciences Central Venous Catheters, Edwards Lifesciences PICC Catheters)
Segment Analysis
By Product Type
· Peripherally Inserted Central Catheters (PICCs)
· Central Venous Catheters (CVCs)
· Umbilical Venous Catheters (UVCs)
· Others
In 2023, Peripherally Inserted Central Catheters (PICCs) dominated the market, holding a revenue share of about 52%. PICCs are frequently utilized because they are easy to insert and appropriate for prolonged use, making them perfect for managing neonates needing extended treatment. Central Venous Catheters (CVCs) are projected to see an increased growth rate of 6.30% annually from 2024 to 2032, due to their vital importance in providing rapid treatment access for high-risk infants facing severe health challenges.
By End-User
· Hospitals
· Specialty Clinics
· Ambulatory Surgical Centers
· Others
Hospitals dominate the market with a 63% revenue share, because of their superior infrastructure, proficient personnel, and ample resources for neonatal care. Specialty clinics are expected to show the greatest growth with a CAGR of 6.54% throughout the forecast period. As the need for outpatient services and customized therapies for newborns grows, specialty clinics are becoming essential to the healthcare sector and the expansion of the NICU Catheters Market.
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Regional Development
In 2023, North America dominated the NICU Catheters Market, accounting for approximately 42% of the revenue share. The leadership in this region is due to its developed healthcare system, significant funding for pediatric services, and a dedicated emphasis on neonatal research and advancements. The demand for NICU catheters in North America is bolstered by a strong network of hospitals and clinics equipped with NICUs. A 2023 report emphasized that the U.S. had more than 1,424 hospitals featuring NICUs, accommodating a total of 35,601 beds-showcasing the area's commitment to specialized neonatal care.
The Asia-Pacific area is expected to experience the highest CAGR from 2024 to 2032. This expansion can be linked to rising healthcare expenditures, greater awareness of neonatal health requirements, and a significant population needing NICU care. The occurrence of preterm births in Asia, which was estimated to be 8.1% in 2022, along with a considerable number of deliveries before 37 weeks in India, indicates the possibility for market growth. Thanks to enhanced healthcare systems and the increasing use of advanced medical technologies, the Asia-Pacific region is set to emerge as a vital area in the NICU catheter market.
Recent Developments
· In June 2024, BD is set to acquire the Critical Care Product Group of Edwards Lifesciences for USD 4.2 billion in order to enhance Smart Connected Care Solutions and establish itself as a leader in advanced monitoring technology.
· February 7, 2024: CERENOVUS, a division of Johnson & Johnson MedTech, launched the CEREGLIDE 71 Intermediate Catheter, an innovative device featuring TruCourse technology aimed at assisting revascularization for patients suffering from acute ischemic stroke.
Table of Contents:
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.2 PESTLE Analysis
4.3 Porter's Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Incidence and Prevalence (2023)
5.2 Prescription Trends, (2023), by Region
5.3 Device Volume, by Region (2020-2032)
5.4 Healthcare Spending, by region, (Government, Commercial, Private, Out-of-Pocket), 2023
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.4 Strategic Initiatives
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. NICU Catheters Market Segmentation, by Product
8. NICU Catheters Market Segmentation, by End User
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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