Safety Heelstick Device Market Growth Opportunities and Forecast up to 2025
According to the study by World Health Organization, across 184 countries, the rate of premature birth ranges from 5% to 18% of babies born. Improvements in equipment, which are now highly efficient and accurate, is another factor expected to drive the demand during the forecast period. Additionally, the launch of multi-specialty products and rising awareness pertaining to the availability of infants care products is expected to further boost the demand over the course of the next few years. Moreover, improving healthcare infrastructure in emerging economies is another factor positively influencing the market.
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The heel incision devices / safety heelstick devices market is segmented in terms of device type, end user, and geography. Based on device type, the market is segmented into heel stick device and safety lancet. Based on end user, the market is segmented into hospitals, childcare clinics, and others.
Based on geography, the global heel incision devices / safety heelstick device market is segmented into five regions, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2016. Rise in incidence of preterm births and low birth weight in the region is expected to drive the growth of the heel incision devices / safety heelstick device market in the region.
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According to the Centers for Disease Control and Prevention, the number of preterm births and babies with low birth weight increased in 2016 over that in the previous year. According to the National Center for Health Statistics (NCHS) report, the rate of preterm births was 9.84% in 2016 and low birth weight rate was 8.16% which is anticipated to increase in the next few years, making the U.S. one of the countries with the highest infant mortality rate. Europe is expected to be the second largest region in terms of revenue, and growth in the region can be attributed to increase in number of multiple pregnancies with premature birth. According to Die Gesundheit von Kindern und Jugendlichen in Deutschland (KiGGS), in 2015, 57.4?% of multiple pregnancies resulted in preterm delivery in Germany and other European countries, which is anticipated to propel growth of the Europe market. Asia Pacific is expected to register high growth during the forecast period due to development of health care infrastructure, high disposable income, rise in health and hygiene related awareness, large untapped market base, and economic development.
Some of the key players operating in the global heel incision devices / safety heelstick device market include Cardinal Health, Clinical Innovations, DeviceLab Inc., MediPurpose, MediCore and others.
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