Pediatric Catheter Market: Size, Share, and Forecast for 2028 - Trends, Competition, and Opportunity Analysis

Posted by Kumar on February 1st, 2024

The pediatric catheter market has witnessed significant growth in recent years, driven by factors such as the increasing demand for minimally invasive surgeries, advancements in pediatric catheter technology, and the growing prevalence of pediatric cardiovascular and urological diseases. According to the TechSci Research report titled "Pediatric Catheter Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028," the global pediatric catheter market reached USD 7.30 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.04% during the forecast period from 2024 to 2028.

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Market Dynamics

The demand for pediatric catheters is being driven by various factors, including the growth of the pediatric population, an increase in congenital heart defects (CHD), neurological disorders, urinary tract infections, and a shortage of newborn screening facilities in emerging countries. Additionally, the rising incidence of cardiovascular and urological diseases in pediatric patients has led to a growing demand for minimally invasive procedures, which involve the use of catheters for both surgical and diagnostic purposes.

Furthermore, advancements in pediatric catheter technology are expected to reduce the risk of infections in children, further stimulating the demand for catheter use in the coming years. These factors collectively contribute to the growth of the pediatric catheter market, presenting exciting opportunities for market players.

Impact of COVID-19 Pandemic

The COVID-19 pandemic had a substantial impact on the demand for pediatric catheter devices. Approximately 40% of individuals recovering from COVID-19 experienced cardiovascular complications, leading to an increased need for intravascular ultrasound (IVUS) procedures in percutaneous coronary intervention (PCI) surgeries. This surge in demand for IVUS procedures, coupled with the growing adoption of IVUS systems in medical diagnostic facilities and hospitals, contributed to the increased utilization of pediatric catheters during the pandemic.

Segment Analysis

The Global Pediatric Catheter Market is segmented based on product and regional distribution.

Product Segmentation:

  • Cardiovascular Catheters: This category emerged as the dominant market segment in 2022, boasting the largest share of revenue. The wide range of catheters designed for various interventional cardiology procedures plays a crucial role in addressing the challenges posed by congenital heart defects, thus influencing patient outcomes significantly.
  • Urology Catheters: Anticipated to have the fastest CAGR between 2023 and 2030, the urology catheters segment is set to thrive. The increasing incidence of bladder, urethra, uterus, and kidney issues among the pediatric population is expected to drive the growth of this segment.

Regional Distribution:

  • North America: Commanding the largest share of revenue in 2022, North America's dominance in the market is attributed to factors such as the increasing incidence of congenital heart defects, urological issues, and a rise in inpatient and emergency room procedures. Advanced healthcare infrastructure and favorable federal support for the development of pediatric medical devices are expected to drive market growth in the region.
  • Asia Pacific: Projected to experience the most rapid CAGR during the forecast period, the Asia Pacific region's growth is attributed to factors such as the increasing prevalence of birth defects and the expansion of both public and private healthcare infrastructure.

Competitive Landscape

The competitive landscape of the pediatric catheter market is characterized by the presence of several key players striving to gain a competitive edge through product innovation and strategic partnerships. Companies are focusing on developing advanced pediatric catheter technologies to cater to the growing demand for minimally invasive procedures in pediatric patients.

The global pediatric catheter market is witnessing significant growth driven by factors such as the increasing demand for minimally invasive surgeries, advancements in pediatric catheter technology, and the growing prevalence of pediatric cardiovascular and urological diseases. The market presents exciting opportunities for market players, particularly in emerging economies with significant population growth and improvements in healthcare infrastructure. However, companies need to navigate the competitive landscape strategically to capitalize on these opportunities and maintain a competitive edge in the market.

Major companies operating in Global Pediatric Catheter Market are:

  • Becton Dickinson & Co Ltd
  • Coloplast Corp
  • Getinge International AB
  • Boston Scientific Corporation
  • Johnson & Johnson
  • ICU Medical Inc
  • Edwards Lifesciences Corporation
  • Medtronic PLC
  • Cook Medical Inc

 

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“As pediatric healthcare continues to evolve, the role of pediatric catheters in ensuring the well-being of children is becoming more crucial than ever. The upcoming key trends not only reflect the ongoing commitment to improving pediatric healthcare but also highlight the important role that pediatric catheters play in this endeavor. The future is bright for pediatric catheter technology, offering hope for better outcomes for pediatric patients worldwide,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Pediatric Catheter Market By Product (Cardiovascular Catheters, Urology Catheters, Intravenous Catheters, Neurovascular Catheters, Specialty Catheters), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Pediatric Catheter Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Pediatric Catheter Market.

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Pediatric Catheter Market  - https://www.techsciresearch.com/report/pediatric-catheter-market/21542.html

 

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Kumar

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Kumar
Joined: July 7th, 2021
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