Neonatal Intensive Care Units (NICU) Catheters Market on the Rise, Projected to Reach $0.54 Billion by 2028

The Business Research Company's Neonatal Intensive Care Units (NICU) Catheters Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 26, 2024 /EINPresswire.com/ -- 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 the increasing prevalence of premature births, rising neonatal intensive care unit admissions, a focus on infection prevention, government initiatives in healthcare, and 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 the rising global birth rate, increasing healthcare expenditure, emphasis on minimally invasive procedures, regulatory support and compliance, and growing healthcare infrastructure in emerging markets. Major trends in the forecast period include patient-centric approaches, technological innovations in catheter design, collaborations and partnerships, and advancements in medical technology.

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Rising Preterm Birth Rates Drive 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 was 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.
Major Players and Market Trends

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.

Technological Innovations and Strategic Developments

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.

Segments:

• Type: Peripherally Inserted Central Catheters (PICCs), Central Venous Catheters (CVCs), Umbilical Venous Catheters (UVCs), Other Types
• Application: Medication Administration, Transfusion Of Blood, Diagnostic Testing, Feeding
• End User: Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Other End Users
Geographical Insights: North America Leading the Market

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, and Africa.

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Neonatal Intensive Care Units (NICU) Catheters Global Market Report 2024 from TBRC covers the following information:

Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Neonatal Intensive Care Units (NICU) Catheters Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on neonatal intensive care units (nicu) catheters market size, neonatal intensive care units (nicu) catheters market drivers and trends, neonatal intensive care units (nicu) catheters market major players, competitors' revenues, market positioning, and market growth across geographies. The neonatal intensive care units (nicu) catheters market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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