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The global pediatric catheters market size is expected to reach USD 5.86 billion in 2032, and register a revenue CAGR of 6.2% during the forecast period.
NEW YORK, NEW YORK, UNITED STATES, May 9, 2023 /EINPresswire.com/ — The Global Pediatric Catheters Market size was USD 3.41 billion in 2022 and is projected to reach USD 5.86 billion by 2032, with a revenue CAGR of 6.2% during the forecast period. The market is driven by several factors such as increasing incidences of pediatric urological and cardiovascular diseases, rising demand for minimally invasive procedures, and technological advancements in catheter technology. According to the World Health Organization (WHO), congenital anomalies cause 303,000 neonatal deaths annually worldwide, increasing the demand for pediatric catheters. The incidence of pediatric urological diseases such as urinary tract infections is also rising, further driving demand for pediatric catheters. Similarly, the prevalence of cardiovascular diseases in children is increasing, raising demand for pediatric catheters used in diagnostic and therapeutic procedures.
Moreover, there is a growing demand for minimally invasive procedures, and pediatric catheters play a crucial role in providing access to various body parts for diagnostic and therapeutic purposes. Manufacturers are developing innovative catheter designs and materials that offer improved safety, ease of use, and patient comfort. Increasing healthcare expenditure, improving healthcare infrastructure, and rising awareness about pediatric healthcare are also raising demand for pediatric catheters. However, challenges such as the high cost of pediatric catheters, a lack of skilled healthcare professionals, and the risk of complications associated with catheterization are restraining revenue growth. Despite these challenges, the global pediatric catheters market is expected to grow significantly in the coming years.
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Segments Covered in the Report –
This report provides a comprehensive analysis of the global pediatric catheters market, covering historical data and revenue growth forecasts at a global, regional, and country level from 2019 to 2032. The report also provides insights into market trends in each of the sub-segments.
The global pediatric catheters market is segmented based on product type, application, and region. The product type segment includes central venous catheters, Foley catheters, urethral catheters, and others. The application segment includes cardiovascular, neurological, urological, and others.
The regional outlook segment covers North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America includes the United States, Canada, and Mexico. Europe includes Germany, the United Kingdom, France, Italy, Spain, Sweden, BENELUX, and the rest of Europe. Asia-Pacific includes China, India, Japan, South Korea, and the rest of APAC. Latin America includes Brazil and the rest of LATAM. The Middle East & Africa includes Saudi Arabia, the United Arab Emirates, South Africa, Israel, and the rest of MEA.
The revenue growth of the pediatric catheters market is driven by several factors, including rising incidences of pediatric urological and cardiovascular diseases, rising demand for minimally invasive procedures, and advancements in catheter technology. Pediatric urological and cardiovascular diseases are increasing, which is raising the demand for pediatric catheters. In addition, the prevalence of cardiovascular diseases in children is increasing, which is raising the demand for pediatric catheters used in diagnostic and therapeutic procedures.
The demand for minimally invasive procedures is also driving revenue growth of the pediatric catheters market. Minimally invasive procedures are preferred over traditional surgical procedures due to their reduced invasiveness, faster recovery time, and reduced risk of complications.
However, there are several challenges restraining revenue growth of the pediatric catheters market. These challenges include the high cost of pediatric catheters, lack of skilled healthcare professionals, and the risk of complications associated with catheterization. Despite these challenges, the global pediatric catheters market is expected to grow significantly in the coming years, driven by rising demand for pediatric healthcare services and advancements in technology.
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Strategic Developments:
Boston Scientific Corporation strengthened its remote monitoring and digital health capabilities in 2021 by acquiring Preventice Solutions, a leading provider of mobile health solutions and wearable technologies. BD (Becton, Dickinson and Company) expanded its product offerings in the peripheral vascular market by acquiring Straub Medical AG, a Swiss-based medical device company specializing in innovative catheter technologies in 2020. In the same year, Medtronic plc partnered with Surgical Theater to enhance surgeons’ ability to plan and perform complex procedures using advanced imaging and augmented reality technologies by integrating the latter’s advanced visualization platform into Medtronic’s StealthStation surgical navigation system.
In 2020, Coloplast A/S acquired Nine Continents Medical, a Chinese manufacturer of urological products, to expand its presence in the Chinese market, while Cook Medical Inc. acquired Zelegent, Inc., a medical device company specializing in sleep-disordered breathing treatments to expand Cook Medical’s product offerings in the sleep medicine market.
B. Braun Melsungen AG launched the Balloon Catheter Flexima™ Clear, a new balloon catheter designed for pediatric urology applications in 2021. The catheter features a clear shaft for improved visualization and a low-friction coating for easier insertion. Hollister Incorporated launched the VaPro Plus Touch-Free Hydrophilic Intermittent Catheter, a new hydrophilic catheter designed for people with neurogenic bladder and other conditions that require intermittent catheterization in 2020. The catheter features a touch-free design that reduces the risk of contamination and infection.
C.R. Bard, Inc. launched the Magic 3 Go® catheter, a new hydrophilic catheter designed for pediatric patients with neurogenic bladder and other conditions that require intermittent catheterization in 2020. The catheter features a compact design for easy transport and storage, and a no-touch insertion sleeve for reduced contamination risk. In the same year, Smiths Medical launched the DeltaVen® Closed System Catheter, a new closed system catheter designed for pediatric patients with chronic kidney disease who require hemodialysis. The catheter features a pre-attached extension set and a one-step peel-and-stick design for easier insertion and maintenance.
Competitive Landscape:
The global pediatric catheters market is experiencing significant growth, with increasing demand for catheterization procedures and rising prevalence of chronic diseases. The market is highly fragmented, with the presence of both small and large players contributing to a significant portion of the market revenue. In this competitive environment, major players are adopting various strategies such as mergers and acquisitions, strategic agreements and contracts, and launching more effective products to strengthen their position in the market.
Some of the key players in the global pediatric catheters market are Boston Scientific Corporation, BD (Becton, Dickinson and Company), Medtronic plc, Coloplast A/S, Cook Medical Inc., B. Braun Melsungen AG, Hollister Incorporated, C.R. Bard, Inc., Smiths Medical, and ConvaTec Group Plc. These companies are focusing on developing innovative products and expanding their product portfolio to cater to the increasing demand for pediatric catheters.
Factors such as increasing healthcare expenditure and growing awareness about minimally invasive procedures are expected to drive the growth of the global pediatric catheters market during the forecast period. Moreover, the increasing incidence of pediatric urological disorders and neurological diseases is expected to boost market growth. With the rising demand for technologically advanced products, major players are investing in R&D activities to introduce more advanced and efficient catheters, which is anticipated to further drive market growth in the coming years.
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