The Neonatal Intensive Care Units (NICU) Catheters Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Neonatal Intensive Care Units (NICU) Catheters Global Market Report 2024, 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.
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.
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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
Major companies operating in the neonatal intensive care unit (NICU) catheter market are developing advanced catheter insertion technologies such as the minimally invasive transcatheter device for premature babies to gain a competitive advantage. A minimally invasive transcatheter device refers to a medical device designed for procedures that involve accessing and treating internal structures or organs through the blood vessels, typically using a catheter. For instance, in June 2021, Abbott Laboratories, a US-based medical device company, launched the Amplatzer Piccolo, a medical device in India tailored for the treatment of premature infants and newborns facing a life-threatening condition—a patent ductus arteriosus (PDA), a common congenital heart defect. This new device is the first and only minimally invasive transcatheter treatment specifically approved for premature babies with PDA. This innovative device provides an optimally-sized treatment option, particularly designed for the smallest newborns, including premature infants weighing less than one kilogram.
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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26. South America Neonatal Intensive Care Units (NICU) Catheters Market
27. Brazil Neonatal Intensive Care Units (NICU) Catheters Market
28. Middle East Neonatal Intensive Care Units (NICU) Catheters Market
29. Africa Neonatal Intensive Care Units (NICU) Catheters Market
30. Neonatal Intensive Care Units (NICU) Catheters Market Competitive Landscape And Company Profiles
Top Major Players:
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