NICU Catheters Market: Introduction
According to the report, the global NICU catheters market was valued at US$ 400 Mn in 2020 and is projected to expand at a CAGR of 4.5% from 2021 to 2031. The increase in incidence of preterm births and low birthweight births and surge in demand for specialized neonatal care are expected to fuel the growth of the global NICU catheters market. According to the World Health Organization (February 2018), an estimated 15 million babies were born preterm (born before 37 completed weeks of gestation) and the number is rising. The rate of preterm birth ranges from 5% to 18% in 184 countries. It further states that, globally, prematurity is the leading cause of death in children under the age of five. Over 60% of preterm births occur in Africa and South Asia, but preterm birth is a global problem. According to the American Academy of Pediatrics, preterm birth rate in the U.S. was 10% in 2018, and has increased for the fourth consecutive year from 2015 to 2018. According to the Centers of Disease Control and Prevention, in 2019, one in 10 babies was born prematurely in the U.S. In 2019, the rate of preterm birth among non-Hispanic black women (14.4%) was about 50% higher than the rate of preterm birth among non-Hispanic white women (9.3%) or Hispanic women (10%).
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Moreover, Asia Pacific is likely to be a highly lucrative market for NICU catheters from 2021 to 2031. The market in the region is anticipated to expand at a high CAGR during the forecast period.
Rise in Prevalence of Maternal Mortality to Boost Market
Women die due to complications during and following pregnancy and childbirth. Most of these complications develop during pregnancy and most are preventable or treatable. Other complications could exist before pregnancy, but are worsened during pregnancy, especially if not managed as part of woman’s care. According to the WHO, maternal mortality is unacceptably high. About 295,000 women died during and following pregnancy and childbirth in 2017. Moreover, according to the WHO, globally, around 810 women died from preventable causes related to pregnancy and childbirth in 2017. Around 94% of all maternal deaths occur in low and lower middle-income countries. The maternal mortality ratio in low-income countries in 2017 was 462 per 100,000 live births versus 11 per 100,000 live births in high-income countries.
The WHO states that India reported the highest number of preterm births at about 3,519,100 in 2019. Skilled care before, during, and after childbirth can save the lives of women and newborns. This factor drives the global NICU catheters market.
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Peripherally Inserted Central Catheters (PICCs) to Witness High Demand
In terms of type, the global NICU catheters market has been classified into peripherally inserted central catheters (PICCs), central venous catheters (CVCs), umbilical venous catheters (UVCs), and others. The peripherally inserted central catheters (PICCs) segment dominated the global NICU catheters market in 2020 and the trend is projected to continue during the forecast period. The growth of the segment can be attributed to the usage of peripherally inserted central catheters (PICCs) in neonatal intensive care units (NICUs) to provide nutrition and long-term medications to premature and full-term infants.
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Hospitals to be Major End Users
Based on end user, the global NICU catheters market has been categorized into hospitals, specialty clinics, ambulatory surgical centers, and others. The hospitals segment dominated the global NICU catheters market and the trend is anticipated to continue during the forecast period. The segment is driven by increase in hospitalization of neonates for the treatment of several diseases, easy availability of intensive care devices in hospitals, and rise in cooperation between hospitals and physicians.
Competition Landscape
Key players in the global NICU catheters market include Becton, Dickinson and Company, Smiths Medical, ICU Medical, Inc., Vygon SA, Footprint Medical Incorporated, Utah Medical Products, Inc., Cardinal Health, Inc., Argon Medical Devices, Inc., NeoMedical, Inc., Marian Medical, Inc., Angiplast Pvt. Ltd., Vigmed AB (Greiner Bio-One International GmbH), Bactiguard AB, Advin Health Care, Pergo, Sterimed Group, and B. Braun Melsungen AG.
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