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Pediatric Catheter Market Insights, Analysis Report 2024-2033
Pediatric Catheter Market Insights
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According to The Business Research Company's, The pediatric catheter market size has grown strongly in recent years. It will grow from $6.39 billion in 2023 to $6.98 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to the increased prevalence of pediatric disorders, increased awareness among parents and healthcare professionals, increased preference for minimally invasive procedures, enhancements in healthcare infrastructure, growing preference for home-based medical care.
The pediatric catheter market size is expected to see strong growth in the next few years. It will grow to $9.98 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to the increasing prevalence of pediatric diseases, rising healthcare expenditure, increasing prevalence of chronic diseases, growth in ambulatory surgical centres, growing emphasis on environmental concerns and sustainable practices, and rising incidences of pediatric neurological conditions. Major trends in the forecast period include technological advancements, adoption of advanced catheterization techniques, integration of digital health technologies, adoption of environmentally sustainable materials, expansion of pediatric catheter distribution networks, increasing adoption of virtual consultations.
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Market Drivers and Trends:
The increasing bone cancer prevalence is expected to propel the growth of the metastatic bone disease market going forward. Bone cancer refers to a malignant tumor that originates in the cells of the bone. The prevalence of bone cancer is driven by genetic factors, radiation exposure, and environmental factors such as exposure to certain chemicals. Bone cancer can lead to metastatic bone disease as cancer cells from the primary tumor spread through the bloodstream or lymphatic system, forming new tumors in other bones. For instance, in 2023, according to the American Cancer Society, a US-based non-profit organization, there were 3,970 new cases of bone and joint cancer reported, showing an increase compared to the 3,910 cases reported in 2022. Therefore, an increasing bone cancer prevalence is driving the growth of the metastatic bone disease market.
Major companies operating in the pediatric catheter market are focused on developing innovative cardiac cryoablation catheters to provide safe and effective focal cryoablation therapy, offering a valuable treatment option for pediatric cardiology patients. Cardiac cryoablation catheters are specialized medical instruments used in cryoablation operations to treat illnesses such as atrial fibrillation. These catheters are intended to generate focal lesions by freezing heart tissue, preventing undesired electrical transmission, and treating arrhythmias. For instance, in February 2022, Medtronic plc, a US-based medical device company, received approval from the Food and Drug Administration (FDA), a US-based federal agency, for its Freezor and Freezor Xtra cardiac cryoablation focal catheters for the treatment of pediatric atrioventricular nodal reentrant tachycardia (AVNRT). The catheters are designed to freeze cardiac tissue and block unnecessary electrical signals within the heart, offering a first-line therapy for AVNRT and demonstrating high efficacy rates with minimal adverse events.
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Major Key Players of the Market:
Cardinal Health, Abbott Laboratories, Medtronic Plc, Becton, Dickinson and Company, Stryker Corporation, Medline Industries LP., B. Braun SE, Olympus Corporation, Edwards Lifesciences Corporation, Coloplast Corp., Cook Medical, Getinge AB, ICU Medical Inc., Convatec Inc., Lepu Medical Technology(Beijing) Co. Ltd., Merit Medical Systems, Vygon SAS, AngioDynamics Inc., pfm medical gmbh, Avanos Medical Inc., 180 Medical Inc., Romsons Group, Flexicare Medical Ltd., Medical Components Inc., Well Lead Medical Co. Ltd.
Pediatric Catheter Market 2024 Key Insights:
• The pediatric catheter market size is expected to see strong growth in the next few years. It will grow to $9.98 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.
• Rising Minimally Invasive Surgeries Boost The Pediatric Catheter Market Growth
• Innovative Cardiac Cryoablation Catheters Revolutionize Pediatric Treatment
• North America was the largest region in the pediatric catheter market in 2023
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