Pediatric Catheters Market Size, Share, Competitive Analysis, Research Methodology, Rapid Growth
Pediatric Catheters Market Highlights
Pediatric catheters are thin tube medical devices made from high graded material used in the healthcare industry to deliver medications, gases, or fluids to patients or to drain bodily fluids such as urine. These are inserted into the body for the treatment of several diseases and while performing surgeries. Increasing pediatric population, rising prevalence of congenital heart defects & neurological disorders are positively affecting market growth. According to data published by the Centers for Disease Control and Prevention (CDC) in May 2017, 4,045 children died due to various diseases in the US. Additionally, according to data published by the CDC in November 2018, congenital heart defects affect approximately 1% or nearly about 40,000 newborn babies in the US every year.
On the other hand, risk of infections and low awareness about pediatric disorders are likely to hamper the growth of the market.
The Pediatric Catheters Market size is anticipated to reach USD 7490.51 Million by 2030 at 8.90% CAGR during the forecast period 2022-2030.
Pediatric Catheters Market Segmentation
The global pediatric catheters market outlook has been segmented into product type, and end user.
By product type, the market has been segmented into cardiovascular catheters, urology catheters, intravenous catheters, neurovascular catheters, specialty catheters, and others.
The market, by end user, has been segmented into hospitals and clinics, ambulatory surgical centers, and others
Pediatric Catheters Market Regional Analysis
On a regional basis, the Americas is anticipated to dominate the global pediatric catheters market owing to the presence of a huge pediatric population suffering from various diseases. According to the World Bank Group, out of the total population, 19% of the population was pediatric in the US in 2017. Moreover, increasing healthcare expenditure and well-developed technology has fueled the growth of the market.
Europe is expected to hold the second largest position in the global pediatric catheters market owing to the presence of well-developed healthcare sector, strong government support for research & development and high healthcare expenditure in the European countries. Well-developed technologies in Europe have also played a predominant role in the development of the European market. According to the World Bank Group, out of the total population, 18% population was pediatric in the UK in 2017.
Asia-Pacific is anticipated to be the fastest growing region in the global pediatric catheters market owing to the increasing pediatric patient population. According to the World Bank Group, out of the total population, 18% population was pediatric in China in 2017.
The Middle East & Africa has the least share of the global pediatric catheters market. Moreover, the major market share of the region is expected to be held by the Middle East region owing to the growing government initiatives for the healthcare sector.
Pediatric Catheters Market Players
The global pediatric catheters market players are Cook, Smiths Medical, Edwards Lifesciences Corporation, Medtronic, Johnson & Johnson Services, Inc., 180 Medical, Inc., C. R. Bard, Boston Scientific Corporation, Koninklijke Philips N.V., Abbott, B. Braun Melsungen AG, BD, and others.
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