The pediatric catheter market is expected to grow from $4,663.8 million in 2018 to $10,112.5 million by 2027, representing consistent growth at a compounded annual growth rate (CAGR) of 9.0% from 2019 to 2027. The rising incidence of infectious and congenital diseases in children pertaining to cardiology, urology, neurology, etc., has resulted in early surgical intervention to curb the mortality rate in children.
Technological advancements in pediatric catheters and excellent ergonomic features have drastically reduced catheter-associated infections and aided in the healing process post-surgery with minimal discomfort. Proactive government initiatives around the world to provide financial aid to promote children's healthcare, as well as favorable reimbursement from insurance payers, drive the pediatric catheter market's growth.
Market Synopsis
Increasing drug and alcohol abuse during pregnancy is the major contributing factor to the rising prevalence of congenital heart disease.
As per the research findings brought forward by the National Institute of Health (NIH), the prevalence rate for congenital cardiovascular abnormalities ranges from 8 to 12 per 1,000 live births. In the present scenario, congenital cardiovascular catheters are the dominant product segment in the pediatric catheter market.
Increasing cases of alcohol and drug abuse during pregnancy result in the occurrence of congenital heart disease in the newborn. Urology catheters are gaining tremendous traction owing to the increasing number of kidney problems in children requiring surgical intervention. The availability of catheters of different sizes for children belonging to different age groups and their importance in the healing process post-surgery drive the urology catheter market's growth.
In North America, market growth is being driven by the rising prevalence of congenital cardiovascular and urological disorders, as well as favorable reimbursement scenarios.
North America is presently holding 35% of the market share and dominating the regional segment of the pediatric catheter market. The influencing factors pertaining to its market growth are the rising prevalence of congenital cardiovascular and urological disorders. According to the Centers for Disease Control and Prevention (CDC), approximately one in every four newborn babies has a cardiovascular complication that necessitates immediate surgical intervention.
Favorable reimbursement scenarios fuel the growth of the North American pediatric catheter market. Europe holds 31% of the market share, primarily due to strategic collaboration between academic research institutes and medical device manufacturers to improve the ergonomic designs of catheters employed while performing pediatric surgical procedures. Asia Pacific accounts for 17% of the market share on account of increasing medical tourism and rampant growth among midsized medical device manufacturers actively engaged in the production of pediatric catheters.
Periods of History and Forecast
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The market is segmented by product and by geography.
Medical device manufacturers competing in the pediatric catheters market include 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 questions are answered in this report.
Which major medical device manufacturers are producing pediatric catheters?
What are the strategic collaborations and mergers happening among key players in the pediatric catheter market?
Specify the strengths, weaknesses, opportunities, and threats pertaining to the pediatric catheter market.
What is the prevalence rate of major congenital diseases?
What will be the market performance of developing nations in the Asia Pacific and Latin America regions?
Frequently Asked Question:
The market for Pediatric Catheters Market is expected to reach USD$ 10,112.5 Mn in 2027.
The Pediatric Catheters Market is expected to see significant CAGR growth over the coming years, at 9.0%.
The report is forecasted from 2019 -2027.
The base year of this report is 2018.
Thermo Fisher Scientific, Inc., Medical Respiratory Devices PendoTECH, Lonza, Sartorius AG, Charles River Laboratories, General Electric, Asahi Kasei Corporation. are some of the major players in the global market.
