Neonatal Intensive Care Units NICU Catheters Market Size, Share, Trends, Growth Analysis, Demand Patterns And Forecasts 2024-2033 | Key Players: Cardinal Health Inc., Medtronic plc, Becton, Dickinson and Company, Terumo Corporation

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Neonatal Intensive Care Units NICU Catheters Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
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 increasing prevalence of premature births, rising neonatal intensive care unit admissions, focus on infection prevention, government initiatives in healthcare, 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 rising global birth rate, increasing healthcare expenditure, emphasis on minimally invasive procedures, regulatory support and compliance, growing healthcare infrastructure in emerging markets. Major trends in the forecast period include patient-centric approaches, technological innovations in catheter design, collaborations and partnerships, advancements in medical technology, demand for minimally invasive procedures.

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Market Segmentation:
The neonatal intensive care units (nicu) catheters market covered in this report is segmented -
1) By Type: Peripherally Inserted Central Catheters (PICCs), Central Venous Catheters (CVCs), Umbilical Venous Catheters (UVCs), Other Types
2) By Application: Medication Administration, Transfusion Of Blood, Diagnostic Testing, Feeding
3) By End User: Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Other End Users

Major Driver - Rising Preterm Birth Rates Fueling Growth In The Neonatal Intensive Care Unit (NICU) Catheter Market
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 will be 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.

Competitive Landscape:
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

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