PUBLISHER: The Business Research Company | PRODUCT CODE: 1455289
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455289
A neonatal intensive care unit catheter is a flexible and elongated hollow tube utilized to access the veins or arteries of a newborn, enabling intravenous delivery of fluids, medications, and blood products. These catheters serve a critical role in neonatal intensive care units, facilitating central venous pressure monitoring. Additionally, they are employed to aid in breathing, administer oxygen, or provide assistance in mechanical ventilation for infants experiencing respiratory challenges.
The primary types of neonatal intensive care unit (NICU) catheters include peripherally inserted central catheters (PICCs), central venous catheters (CVCs), umbilical venous catheters (UVCs), and other variations. Peripherally Inserted Central Catheters (PICCs) are slender tubes inserted through a peripheral vein, commonly in the arm, to establish central venous access for diverse medical purposes, such as intravenous therapy, chemotherapy, or prolonged medication administration. These catheters find application in various healthcare settings, including hospitals, specialty clinics, ambulatory surgical centers, and others, where they are utilized for tasks such as medication administration, blood transfusions, diagnostic testing, and feeding.
The neonatal intensive care units (NICU) catheters market research report is one of a series of new reports from The Business Research Company that provides neonatal intensive care units (NICU) catheters market statistics, including neonatal intensive care units (NICU) catheters industry global market size, regional shares, competitors with neonatal intensive care units (NICU) catheters market share, detailed neonatal intensive care units (NICU) catheters market segments, market trends, and opportunities, and any further data you may need to thrive in the neonatal intensive care units (NICU) catheters industry. This neonatal intensive care units (NICU) catheters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 observed in the historical period can be attributed to several factors, including the increasing prevalence of premature births, a rise in neonatal intensive care unit admissions, a heightened focus on infection prevention, government initiatives in healthcare, and the 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 anticipated growth in the forecast period can be attributed to various factors, including the rising global birth rate, an increase in healthcare expenditure, a focus on minimally invasive procedures, regulatory support and compliance, and the expansion of healthcare infrastructure in emerging markets. Major trends expected in the forecast period encompass patient-centric approaches, technological innovations in catheter design, collaborations and partnerships within the healthcare industry, advancements in medical technology, and a heightened demand for minimally invasive procedures.
The increasing rates of preterm births are anticipated to drive the growth of the neonatal intensive care unit (NICU) catheter market in the future. Preterm birth, commonly known as premature birth, occurs before the completion of 37 weeks of gestation and often necessitates specialized medical care for infants. This care includes the use of catheters for purposes such as intravenous access, feeding, and monitoring. For instance, data from the Centers for Disease Control and Prevention in November 2022 revealed a 4% increase in the preterm birth rate in 2021 compared to 2020, rising from 10.1% to 10.5%. This indicates that approximately 1 in 10 infants born in the United States in 2021 was affected by preterm birth. Consequently, the rising rates of preterm births are a significant driver for the growth of the neonatal intensive care unit (NICU) catheter market.
The increasing number of neonatal admissions is also expected to contribute to the growth of the neonatal intensive care unit (NICU) catheter market. Neonatal admissions refer to the hospitalization or admission of newborn infants, typically within the first 28 days of life, for medical care and monitoring. NICU catheters are utilized in infant care to provide specialized medical interventions and monitoring, particularly for premature or critically ill infants. This ensures immediate health needs are addressed, promoting their chances of survival and healthy development. For example, data from the American Academy of Pediatrics in October 2023 indicated that the percentage of infants classified as late preterm (LPT) and low birth weight (LBW) receiving exclusive care in the nursery increased from 83.9% to 88.8% due to special circumstances. Therefore, the increasing neonatal admissions are a key factor driving the growth of the neonatal intensive care unit (NICU) catheter market.
The high cost of NICU treatment is anticipated to impede the growth of the neonatal intensive care unit (NICU) catheter market. This cost includes various expenses associated with medical equipment, healthcare professionals, medications, and other resources required to address the intricate needs of infants undergoing intensive care in the NICU. The elevated cost of neonatal intensive care poses financial challenges for healthcare facilities, limiting their capacity to invest in advanced catheter technologies for neonatal care. A study published by Frontiers Media SA in February 2023 highlighted that the average cost per NICU admission was $77,132.90, with a range spanning from $48,338 to $126,680, indicating a substantial cost of treatment. Consequently, the high cost of NICU equipment acts as a constraint on the growth of the neonatal intensive care unit (NICU) catheter market.
Major companies in the neonatal intensive care unit (NICU) catheter market are actively developing advanced catheter insertion technologies, including minimally invasive transcatheter devices for premature babies. A minimally invasive transcatheter device refers to a medical device designed for procedures involving access and treatment of internal structures or organs through blood vessels, typically using a catheter. For instance, in June 2021, Abbott Laboratories, a US-based medical device company, introduced the Amplatzer Piccolo in India. This medical device is tailored for the treatment of premature infants and newborns facing a life-threatening condition-a patent ductus arteriosus (PDA), a common congenital heart defect. The Amplatzer Piccolo is the first and only minimally invasive transcatheter treatment specifically approved for premature babies with PDA. This innovative device offers an optimally-sized treatment option, particularly designed for the smallest newborns, including premature infants weighing less than one kilogram.
In February 2023, Laborie Medical Technologies Corp., a US-based therapeutic and diagnostic medical company, successfully acquired Novonate Inc. for an undisclosed amount. This strategic move by Laborie Medical Technologies aims to integrate Novonate's LifeBubble technology, enhancing the protection capabilities of umbilical catheters and thereby improving safety for neonates. The acquisition is driven by the shared objective of both companies to elevate the standard of care for patients, addressing the unmet needs and benefits associated with safeguarding and securing umbilical catheters used in newborns. Novonate Inc., the acquired entity, is a US-based medical device company specializing in the manufacturing of products for neonatal care.
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.
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.
The countries covered in the neonatal intensive care unit (NICU) catheter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The neonatal intensive care unit (NICU) catheter market consists of sales of urine catheters, endotracheal tubes, and extended-dwell peripheral intravenous (EPIV) catheters. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Neonatal Intensive Care Units (NICU) Catheters Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on neonatal intensive care units (nicu) catheters market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for neonatal intensive care units (nicu) catheters ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The neonatal intensive care units (nicu) catheters market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.