The global NICU Catheters market gathered revenue around USD 399.7 Million in 2020 and market is set to grow USD 645 Million by the end of 2027 and is estimated to expand at a modest CAGR of 4.1% during the prediction period 2021 to 2027. The increase in incidence of preterm births and low birthweight births and surge in demand for specialized neonatal care are expected to fuel the growth of the global NICU catheters market. According to the World Health Organization (February 2018), an estimated 15 million babies were born preterm (born before 37 completed weeks of gestation) and the number is rising. The rate of preterm birth ranges from 5.1% to 19% in 185 countries. It further states that, globally, prematurity is the leading cause of death in children under the age of five. Over 62% of preterm births occur in Africa and South Asia, but preterm birth is a global problem.
the COVID-19 pandemic is becoming widespread in countries such as India, Canada, Brazil, and Pakistan, emphasis on neonatal coronavirus infection management is growing. Companies in the NICU catheters market are capitalizing on this opportunity to keep steady and robust supply of products. Since infants are at a high risk of contracting the novel infection, the importance of neonatal coronavirus infection management is surging in healthcare facilities.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the NICU Catheters market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global NICU Catheters market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
NICU Catheters market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Peripherally Inserted Central Catheters (PICCs) to Witness High Demand
In terms of type, the global NICU catheters market has been classified into peripherally inserted central catheters (PICCs), central venous catheters (CVCs), umbilical venous catheters (UVCs), and others. The peripherally inserted central catheters (PICCs) segment dominated the global NICU catheters market in 2020 and the trend is projected to continue during the forecast period. The growth of the segment can be attributed to the usage of peripherally inserted central catheters (PICCs) in neonatal intensive care units (NICUs) to provide nutrition and long-term medications to premature and full-term infants.
Wireless Biosensors Avoid Blood Clots Due to Use of Catheters
Wireless monitors are storming the NICU catheters market. Since parents may feel helpless and undergo anxiety when their babies are kept in NICU (Neonatal Intensive Care Unit), wireless monitors in the form of biosensors help to improve infant quality of life. Wired monitoring has the possibility of creating blood clots and blood vessel blockage. These wires also interfere with feeding and cleaning. Hence, companies are benefitting with the introduction of wireless biosensors.
The precise monitoring of NICU patients is essential, but is potentially invasive, especially in the case of specialized catheters inserted into a patient’s tiny veins. Thus, stakeholders in the NICU catheters market are benefitting from the introduction of wireless biosensors that are demonstrating clinical advantages.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Significant Market Participants Operational in the NICU Catheters Market are:
The global NICU catheters market include Becton, Dickinson and Company, Smiths Medical, ICU Medical, Inc., Vygon SA, Footprint Medical Incorporated, Utah Medical Products, Inc., Cardinal Health, Inc., Argon Medical Devices, Inc., NeoMedical, Inc., Marian Medical, Inc., Angiplast Pvt. Ltd., Vigmed AB (Greiner Bio-One International GmbH), Bactiguard AB, Advin Health Care, Pergo, Sterimed Group, and B. Braun Melsungen AG.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Global NICU Catheters Market: Segmentation
- NICU Catheters Market, by Type
- Peripherally Inserted Central Catheters (PICCs)
- Central Venous Catheters (CVCs)
- Umbilical Venous Catheters (UVCs)
- Others
- NICU Catheters Market, by End User
- Hospital
- Specialty Clinics
- Ambulatory Surgical Centers
- Others
By Regional Outlook
North America
Europe
- Germany
- United Kingdom
- Italy
- France
- Rest of EU
Asia Pacific
- China
- India
- Japan
- Southeast Asia
- Rest of APAC
Central & South America
- Brazil
- Argentina
- Rest of Central & South America
Middle East and Africa
- GCC
- North Africa
- South Africa
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