PUBLISHER: The Business Research Company | PRODUCT CODE: 1522287
PUBLISHER: The Business Research Company | PRODUCT CODE: 1522287
Pediatric catheters refer to medical devices specifically tailored and sized for utilization in pediatric patients, typically infants and children. They are meticulously designed to be smaller and gentler in construction compared to adult catheters, aiming to mitigate discomfort and minimize the risk of complications in pediatric patients undergoing diagnostic, therapeutic, and monitoring procedures.
The primary product categories of pediatric catheters include cardiovascular catheters, urology catheters, intravenous catheters, neurovascular catheters, specialty catheters, and others. Cardiovascular catheters serve as medical tools employed in diagnosing and treating heart-related ailments in children, encompassing conditions such as congenital heart defects and irregular heart rhythms. They come with various lumens, including single, double, and triple lumens, and are utilized by diverse end users, such as hospitals, clinics, ambulatory surgical centers, among others.
The pediatric catheters market research report is one of a series of new reports from The Business Research Company that provides pediatric catheters market statistics, including the pediatric catheters industry global market size, regional shares, competitors with pediatric catheters market share, detailed pediatric catheters market segments, market trends, and opportunities, and any further data you may need to thrive in the pediatric catheters industry. These pediatric catheters market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The pediatric catheter market size has grown strongly in recent years. It will grow from $6.39 billion in 2023 to $6.98 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The historical period's growth can be attributed to several factors, including the heightened prevalence of pediatric disorders, increased awareness among both parents and healthcare professionals, a growing preference for minimally invasive procedures, improvements in healthcare infrastructure, and an increasing preference for home-based medical care.
The pediatric catheter market size is expected to see strong growth in the next few years. It will grow to $9.98 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The anticipated growth in the forecast period can be attributed to several factors, including the escalating prevalence of pediatric diseases, a rise in healthcare expenditure, the increasing incidence of chronic diseases, the expansion of ambulatory surgical centers, a growing focus on environmental concerns and sustainable practices, and the rising occurrence of pediatric neurological conditions. Significant trends expected in the forecast period include advancements in technology, the adoption of advanced catheterization techniques, the integration of digital health technologies, the adoption of environmentally sustainable materials, the expansion of distribution networks for pediatric catheters, and an increasing uptake of virtual consultations.
The increasing prevalence of minimally invasive surgeries is poised to drive the growth of the pediatric catheter market in the coming years. Minimally invasive surgery (MIS) is a surgical approach that aims to minimize tissue damage and incisions, leading to faster recovery, reduced discomfort, and minimal scarring. The demand for MIS is driven by its numerous benefits, including less invasive procedures, decreased pain, shorter hospital stays, and quicker recuperation. This trend enhances the demand for pediatric catheters, as they offer less invasive access for insertion during procedures. For instance, in August 2023, The Aesthetic Society reported that Americans spent over $11.8 billion on minimally invasive surgeries, marking a 2% increase from the previous year. Consequently, the growing prevalence of minimally invasive surgeries is a key driver for the pediatric catheter market.
Major players in the pediatric catheter market are focusing on innovating cardiac cryoablation catheters to provide safe and effective focal cryoablation therapy, catering to the needs of pediatric cardiology patients. Cardiac cryoablation catheters are specialized instruments used in cryoablation procedures to treat conditions such as atrial fibrillation. These catheters are designed to create focal lesions by freezing heart tissue, thereby interrupting unwanted electrical signals and treating arrhythmias. For example, in February 2022, Medtronic plc received FDA approval for its Freezor and Freezor Xtra cardiac cryoablation focal catheters for pediatric atrioventricular nodal reentrant tachycardia (AVNRT) treatment. These catheters freeze cardiac tissue and block unnecessary electrical signals in the heart, offering a primary therapy for AVNRT with high efficacy and minimal adverse events.
In January 2022, HR Pharmaceuticals Inc. acquired Medical Technologies of Georgia (MTG) to enhance its presence in the pediatric catheter market by offering specialized catheters for children. This acquisition strengthens HR Pharmaceuticals Inc.'s position as the sole independent catheter manufacturer in the United States. MTG, a Georgia-based company, specializes in manufacturing pediatric catheters, including closed-system and intermittent urological catheters.
Major companies operating in the pediatric catheter market are Cardinal Health, Abbott Laboratories, Medtronic Plc, Becton, Dickinson and Company, Stryker Corporation, Medline Industries LP., B. Braun SE, Olympus Corporation, Edwards Lifesciences Corporation, Coloplast Corp., Cook Medical, Getinge AB, ICU Medical Inc., Convatec Inc., Lepu Medical Technology(Beijing) Co. Ltd., Merit Medical Systems, Vygon SAS, AngioDynamics Inc., pfm medical gmbh, Avanos Medical Inc., 180 Medical Inc., Romsons Group, Flexicare Medical Ltd., Medical Components Inc., Well Lead Medical Co. Ltd.
North America was the largest region in the pediatric catheter market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pediatric catheter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the pediatric catheter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The pediatric catheter market consists of the sale of intermittent catheters, hydrophilic catheters, and self-cath 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.
Pediatric Catheter 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 pediatric catheter 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 pediatric catheter ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The pediatric catheter 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.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
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.