Overview and Scope
A neonatal intensive care unit catheter is a lengthy, pliable, hollow tube employed to enter a newborn baby’s vein or artery, allowing for intravenous access for the delivery of fluids, drugs, and blood products. These catheters are also used in neonatal intensive care units as a way for central venous pressure monitoring. It is used to help with breathing, deliver oxygen, or assist in mechanical ventilation when an infant has respiratory difficulties.
Sizing and Forecast
The neonatal intensive care units (nicu) catheters market size has grown strongly in recent years. It will grow from $0.41 billion in 2023 to $0.44 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to increasing prevalence of premature births, rising neonatal intensive care unit admissions, focus on infection prevention, government initiatives in healthcare, growing awareness among healthcare professionals.
The neonatal intensive care units (nicu) catheters market size is expected to see strong growth in the next few years. It will grow to $0.54 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to rising global birth rate, increasing healthcare expenditure, emphasis on minimally invasive procedures, regulatory support and compliance, growing healthcare infrastructure in emerging markets. Major trends in the forecast period include patient-centric approaches, technological innovations in catheter design, collaborations and partnerships, advancements in medical technology, demand for minimally invasive procedures.
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Segmentation & Regional Insights
The neonatal intensive care units (nicu) catheters market covered in this report is segmented –
1) By Type: Peripherally Inserted Central Catheters (PICCs), Central Venous Catheters (CVCs), Umbilical Venous Catheters (UVCs), Other Types
2) By Application: Medication Administration, Transfusion Of Blood, Diagnostic Testing, Feeding
3) By End User: Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Other End Users
North America was the largest region in the neonatal intensive care units (NICU) catheters market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neonatal intensive care units (nicu) catheters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising preterm birth rates are expected to propel the growth of the neonatal intensive care unit (NICU) catheter market going forward. Preterm birth, often referred to as premature birth, is a birth that occurs before the completion of 37 weeks of gestation. Premature infants often require specialized medical care, including catheters for various purposes such as intravenous access, feeding, and monitoring. For instance, in November 2022, according to the Centers for Disease Control and Prevention, a US-based non-profit organization, in 2021 there was a 4% increase in the preterm birth rate compared to 2020, rising from 10.1% to 10.5%. This means that approximately 1 in every 10 infants born in the United States will be affected by preterm birth in 2021. Therefore, the rising preterm birth rates are driving the growth of the neonatal intensive care unit (NICU) catheter market going forward.
Key Industry Players
Major companies operating in the neonatal intensive care units (nicu) catheters market report are Cardinal Health Inc., Medtronic plc, Becton, Dickinson and Company, Terumo Corporation, Edwards Lifesciences Corporation, Teleflex Incorporated, Cook Group Incorporated, ICU Medical Inc., Convatec Group Plc, Merit Medical Systems Inc., Hollister Incorporated, Avanos Medical Inc., Greiner Bio-One International GmbH, Smiths Medical ASD Inc., Vygon SA, AngioDynamics Inc., Nipro Medical Corporation, Argon Medical Devices Inc., PFM Medical AG, Romsons Group Pvt Ltd</b
The neonatal intensive care units (nicu) catheters market report table of contents includes:
1. Executive Summary
2. Neonatal Intensive Care Units (NICU) Catheters Market Characteristics
3. Neonatal Intensive Care Units (NICU) Catheters Market Trends And Strategies
4. Neonatal Intensive Care Units (NICU) Catheters Market – Macro Economic Scenario
5. Global Neonatal Intensive Care Units (NICU) Catheters Market Size and Growth
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32. Global Neonatal Intensive Care Units (NICU) Catheters Market Competitive Benchmarking
33. Global Neonatal Intensive Care Units (NICU) Catheters Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Neonatal Intensive Care Units (NICU) Catheters Market
35. Neonatal Intensive Care Units (NICU) Catheters Market Future Outlook and Potential Analysis
36. Appendix
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