The Pediatric Catheters Market is expected to grow significantly over the forecast period. The market held a market value of USD 5.9 billion in 2018 and is projected to grow at a CAGR of 9.6% over the forecast period.
Pediatric catheters are thin tube medical device made from high graded material used in the healthcare industry to deliver medications, gases or fluids to patients or to drain bodily fluids such as urine. These are inserted into the body for the treatment of a number of diseases and while performing surgeries. Increasing pediatric population, rising prevalence of congenital heart defects & neurological disorders are positively affecting market growth. According to data published by the Centers for Disease Control and Prevention (CDC) in May 2017, 4,045 children died due to various diseases in the US. Additionally, according to data published by the CDC in November 2018, congenital heart defects affect approximately 1% or near about 40,000 newborn babies in the US every year.
On the other hand, risk of infections and low awareness about pediatric disorders are likely to hamper the growth of the pediatric catheters market
Major Key Players
Major Market Key players in the pediatric catheters market are Cook, Smiths Medical, Edwards Lifesciences Corporation, Medtronic, Johnson & Johnson Services, Inc., 180 Medical, Inc., C. R. Bard, Boston Scientific Corporation, Koninklijke Philips N.V., Abbott, B. Braun Melsungen AG, BD, and others.
The Pediatric Catheters Market has been segmented into product type, and end user.
By product type, the market has been segmented into cardiovascular catheters, urology catheters, intravenous catheters, neurovascular catheters, specialty catheters, and others.
The market, by end user, has been segmented into hospitals and clinics, ambulatory surgical centers, and others.
The pediatric catheters market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European pediatric catheters market has been segmented into Western Europe and Eastern Europe. Western Europe, market, has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The pediatric catheters market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
On a regional basis, the Americas is anticipated to dominate the pediatric catheters market owing to the presence of a huge pediatric population suffering from various diseases. According to the World Bank Group, out of the total population, 19% population was pediatric in the US in 2017. Moreover, increasing healthcare expenditure, and well-developed technology has fueled the growth of the pediatric catheters market.
Europe is expected to hold the second largest position in the pediatric catheters market owing to the presence of well-developed healthcare sector, strong government support for research & development and high healthcare expenditure in the European countries. Well-developed technologies in Europe have also played a predominant role in the development of the European market. According to the World Bank Group, out of the total population, 18% population was pediatric in the UK in 2017.
Pediatric Catheters Global Market Share (%), by Region, 2018
Source: White Papers, Company Presentations, Annual Reports
Asia-Pacific is anticipated to be the fastest growing region in the pediatric catheters market owing to the increasing pediatric patient population. According to the World Bank Group, out of the total population, 18% population was pediatric in China in 2017.
The Middle East & Africa has the least share of the pediatric catheters market. Moreover, the major market share of the region is expected to be held by the Middle East region owing to the growing government initiatives for the healthcare sector.
Market of Pediatric Catheters, by Product Type
Market of Pediatric Catheters, by End User
Market of Pediatric Catheters, by Region
Frequently Asked Questions (FAQ) :
The valuation was USD 5.9 billion.
The pediatric catheters market has a CAGR of 9.6% during the forecast period.
Low awareness and risk of infection can deter market growth.
The Americas would take the charge.
The Asia Pacific pediatric catheters market would be the fastest-growing.