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Pediatric Catheters Market Size Worth $9.6 Billion By 2025 | CAGR: 9.3%: Grand View Research, Inc.
SAN FRANCISCO, July 3, 2019 /PRNewswire/ -- The global pediatric catheters market size is expected to reach USD 9.6 billion by 2025, according to a report by Grand View Research, Inc., expanding at a CAGR of 9.3% over the forecast period. Key factors attributing to the growth include increase in the pediatric population, rise in congenital heart defects, neurological disorders, urinary tract infections, and lack of adequate new born screening centers in the emerging countries. The pediatric population requires specially designed catheters with smaller dimensions and advanced materials to avoid hospital acquired infections and improve patient compliance.
Key suggestions from the report:
- The cardiovascular catheters segment dominated the market in 2018, accounting for 40.5% share of the total revenue, owing to increasing incidence of congenital heart defects and presence of a large number of products available for cardiac interventions
- The urology catheters segment is anticipated to expand at the fastest CAGR of 10.0% owing to increasing prevalence of urinary bladder, urethra, kidney problems, and diseases in pediatric population
- North America dominated the market in 2018 with a revenue of USD 1.8 billion owing to presence of advanced healthcare facilities, strong reimbursement scenario, and increasing incidence of congenital heart defects and urological problems
- Some of the key players in the market are Cook Medical; Smiths Medical; Edwards Life Sciences Corporation; Medtronic Inc.; and Johnson & Johnson.
Read 82 page research report with TOC on "Pediatric Catheters Market Size, Share & Trends Analysis Report By Product (Urology, Cardiovascular, Intravenous, Neurovascular, Specialty), By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/pediatric-catheters-market
In 2018, cardiovascular catheters held the largest market share of 40.5% and is anticipated to exhibit a high CAGR over the forecast period. The congenital heart defects are one of the major reasons for high mortality in pediatric population. Presence of a wide range of products for various cardiac interventions is key factor boosting the segments growth. Moreover, urology catheters are expected to emerge as the fastest growing segment with a CAGR of 10.0% from 2019 to 2025. High growth is anticipated on account of increasing prevalence of bladder, urethra, uterus, and kidney problems in pediatric population.
North America dominated the pediatric catheters market in 2018, with a revenue of USD 1.8 billion and is expected to expand at a high CAGR over the forecast period. Some of the key factors responsible for the high share are growing prevalence of congenital heart defects and urological problems and rising inpatient and emergency room procedures. Moreover, presence of advanced healthcare facilities, strong reimbursement scenario, and favorable federal initiatives to encourage pediatric device development are anticipated to positively reinforce the growth in this region. Asia Pacific is expected to expand at the fastest CAGR of 11.3% over the forecast period. Developing healthcare infrastructure and increasing healthcare expenditure, along with high unmet medical needs, are expected boost the revenue growth.
Some of the key players operating in this market are Cook Medical; Smiths Medical; Edwards Life Sciences Corporation; Medtronic Inc.; and Johnson & Johnson.
Grand View Research has segmented the global pediatric catheters market on the basis of product and region:
- Pediatric Catheters Product Outlook (Revenue, USD Million, 2014 - 2025)
- Pediatric Catheters Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- South Korea
- Latin America
- South Africa
- Saudi Arabia
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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