The latest market report published by Credence Research, Inc. “Global Pediatric Catheters Market – Growth, Future Prospects, Competitive Analysis,2019- 2027,” the global pediatric catheters market is expected to reach from US$ 4,663.8 Mn in 2018 to US$ 10,112.5 Mn by 2027 expanding at a CAGR of 9.0% from 2019 to 2027.
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According to the statistics provided by World Health Organization (WHO), every year approximately 303,000 newborn babies die within 4 weeks of their birth due to congenital abnormalities. Several factors are responsible for the occurrence of congenital defects in newborn babies such as genetic, nutritional, infectious and environmental impact. Etc. the exact cause still remain unknown. Researchers are working diligently in developing pediatric catheters with excellent ergonomic features and body compatible material to minimize the risk associated with catheters and cause less discomfort to the children post surgery. In the last decade technological advancement in the operating procedures has been successful in curbing the mortality associated with congenital defects.
Cardiovascular catheters are dominating the product segment for pediatric catheters market. According to the research findings of National Institute for Health (NIH), the global prevalence rate of congenital cardiovascular complications is 8 to 12 per 1000 live births. Increasing cases of drug and alcohol abuse during pregnancy increases the risk of occurrence for congenital cardiovascular disorders in the new born babies. Genetic predisposition is also related with its occurrence. Urology catheters will be growing at a rampant pace due to increasing cases of urological disease in children requiring immediate surgical intervention. Availability in different sizes for children’s belonging to different age group and excellent ergonomic design aids in healing process post surgery and enhances patient satisfaction.
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North America with a share of 35% is the clear regional leader in global pediatric catheters market. The major feature which contributes for its dominance are rising prevalence of congenital cardiovascular complications in newborn requiring immediate surgical intervention to prolong life. Domicile of major players such as Boston Scientific Corporation, Medtronic, Plc., Johnson & Johnson etc. drive the market growth in North America region.
Europe is the second largest market holding 31% share on account of supportive regulatory environment provided by European Medical Agency (EMA) and affordable reimbursement scenario for the pediatric catheters market. Asia Pacific represents 17% market share on account of increasing medical tourism and serves as a lucrative market opportunity for western giants to establish subsidiaries.
Medical device manufacturers competing in the pediatric catheters market Boston Scientific Corporation, C.R.Bard, Inc., Cook Medical, Coloplast A/S, Edwards Life Science Corporation, Flexicare Medical Limited, Getinge group, Johnson & Johnson, Medtronic, Plc. and Smiths Medical.
Key Market Movements:
• Rising prevalence of congenital abnormalities in newborn pertaining to cardiovascular, urology and neurovascular
• Favorable reimbursement scenario for pediatric catheters used in surgical intervention in children
• Availability of wide range of catheters with different sizes and ergonomic design which eliminates infection and aids in healing process post surgery
Chapter 3. Pediatric Catheters Market: Dynamics and Future Outlook
3.1. Market Overview
3.5. Attractive Investment Proposition, by Geography, 2018
3.6. Competitive Analysis: Global Pediatric Catheters Market, by Key Players, 2018
Chapter 4. Global Pediatric Catheters Market, by Product
4.2. Cardiovascular Catheters
4.3. Urology Catheters
4.4. Intravenous Catheters
4.5. Neurovascular Catheters
4.6. Specialty Catheters
Credence Research Inc