Industry Outlook
The pediatric catheters market is set to reach from US$ 4,663.8 Mn in 2018 to US$ 10,112.5 Mn by 2027 representing stable growth at a compounded annual growth rate (CAGR) of 9.0% during the forecast period from 2019 to 2027. Rising incidence of infectious and congenital diseases in children pertaining to cardiovascular, urology, neurovascular etc. has resulted in early surgical intervention to curb the mortality rate in children. Technological advancement in the pediatric catheters and excellent ergonomic features has drastically reduced the catheters associated infections and aid in the healing process post surgery with minimal discomfort. Proactive government initiatives worldwide to cater financial aid to promote children healthcare and favorable reimbursement provided by insurance payers further propel the pediatric catheters market growth.
Market Synopsis
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"Increasing drug and alcohol abuse during pregnancy is the major contributing factor for the rising prevalence of congenital heart disease"
As per the research findings brought forward by National Institute of Health (NIH), the prevalence rate for congenital cardiovascular abnormalities ranges for 8 to 12 per 1000 live births. In the present scenario congenital cardiovascular catheters are reigning the product segment for pediatric catheters market. Increasing cases of alcohol and drug abuse during pregnancy results in occurrence of congenital heart disease in the newborn. Urology catheters are gaining tremendous traction owing to increasing number of kidney problems in children requiring surgical intervention. Availability of catheters of different sizes for children belonging to different age group and its importance in the healing process post surgery drive the urology catheters market growth.
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"Rising prevalence of congenital cardiovascular and urological disorders and favorable reimbursement scenario drive the market growth in North America"
North America is presently holding 35% market share and is dominating the regional segment for pediatric catheters market. The influencing factors pertaining to its market growth are rising prevalence of congenital cardiovascular and urological disorders. As per the research findings of Center for Disease Control and Prevention (CDC), approximately 1 in 4 newborn babies are reported with cardiovascular complication requiring immediate surgical intervention. Favorable reimbursement scenario further propels the pediatric catheters market growth in North America region. Europe holds 31% 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% share on account of increasing medical tourism, rampant growth in midsized medical device manufacturers actively engaged in production of pediatric catheters.
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Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments are calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The market is segmented by product and by geography.
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Million |
| Segmentation |
By Product (2017–2027; US$ Mn)
• Cardiovascular Catheters
• Urology Catheters
• Intravenous Catheters
• Neurovascular Catheters
• Specialty Catheters
|
|
Geography Segment (2017–2027; US$ Mn)
• North America (U.S., Canada)
• Europe (U.K., Germany, Rest of Europe)
• Asia Pacific (China, Japan, Rest of APAC)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East and Africa (GCC, Rest of Middle East and Africa)
|
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 questions answered in this report
- Which major medical device manufacturers are producing pediatric catheters?
- What are the strategic collaboration and mergers happening among key players in pediatric catheters market?
- Specify the strength, weakness, opportunities and threats pertaining to pediatric catheters market?
- What is the prevalence rate of major congenital diseases?
- What will be the market performance of developing nations of Asia Pacific and Latin America region?
