Pediatric catheters Market Overview
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 and also pediatric vaccines market. 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.
The Global Pediatric Catheters Market share 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. On the other hand, risk of infections and low awareness about pediatric disorders are likely to hamper the growth of the market.
Pediatric catheters Market Regional Analysis
On a regional basis, the Americas is anticipated to dominate the global 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 market.
Europe is expected to hold the second largest position in the global 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.
Asia-Pacific is anticipated to be the fastest growing region in the global 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.
Pediatric catheters Market Competitive Landscape:
Some of the prominent players in the global 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.
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