Neonatal Intensive Care Units (NICU) Catheters Market Size To Surpass USD 560.06 Mn By 2030

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Table of Content

The global neonatal intensive care units (NICU) catheters market size was exhibited at USD 362.68 million in 2022 and is expected to surpass around USD 560.06 million by 2030 with a CAGR of 5.6% from 2022 to 2030.

The increased choice and applications in intravenous medication delivery, increased healthcare expenditure, technical developments, and progressing research and development are driving the global neonatal intensive care units (NICU) catheters market. However, a scarcity of skilled catheterization workers, the risk of bloodstream infection, deep vein thrombosis, and tough competition from midline catheters are slowing the worldwide neonatal intensive care unit (NICU) catheters market's growth. Despite the fact that the overall global neonatal intensive care units (NICU) catheters market is expected to grow due to technological advancements in neonatal intensive care units (NICU) catheters, surging demand and the emerging novel technologies such as anti-microbial and anti-thrombogenic neonatal intensive care units (NICU) catheters are expected to streamline the neonatal intensive care units (NICU) catheters market's growth.

The market for neonatal intensive care units (NICU) catheters is predicted to develop due to factors such as an increase in the prevalence of cardiovascular illnesses such as atherosclerosis, coronary artery disease, myocardial infarction, and cardiomyopathy, an increase in the geriatric population, and increased awareness of sophisticated technologies. In addition, the market for neonatal intensive care unit (NICU) catheters is growing due to an increase in demand for antimicrobial catheters. However, the neonatal intensive care unit (NICU) catheters market in growing regions is projected to be constrained by high product costs. During the projection period, research and development in the sector of surgical equipment is expected to provide new opportunities.

Neonatal Intensive Care Units (NICU) Catheters Market Report Scope

Report Highlights

• Based on the type, the peripherally inserted central catheters (PICCs) segment dominated the global neonatal intensive care units (NICU) catheters market in 2020 with the highest market share. The robust reimbursement policies, increasing preference for peripherally inserted central catheters (PICCs) by healthcare providers, increased healthcare expenditure, and a surge in the number of diseases requiring the use of peripherally inserted central catheters (PICCs) are all driving the growth of the segment. 

Regional Snapshot

North America is the largest segment for the neonatal intensive care units (NICU) catheters market in terms of region. The neonatal intensive care units (NICU) catheters market in the region is expected to grow rapidly in the coming years as a result of increased research and development and the introduction of technologically improved products.  

Asia-Pacific region is the fastest growing region in the neonatal intensive care units (NICU) catheters market. Due to the large population and high birthrate in Asia-Pacific, the market for neonatal intensive care units (NICU) catheters is expected to grow at a high CAGR over the forecast period. 

Market Dynamics

Drivers: Rising rates of hospitalizations

The increased acceptance and demand for antimicrobial coated catheters as well as socioeconomic factors such as rising diseases rates due to growing senior population are driving the global neonatal intensive care units (NICU) catheters market growth. The product advancements and rising hospitalization rates are significant factors for the expansion of the global neonatal intensive care units (NICU) catheters market over the forecast period. 

Restraints: High cost of anti-microbial coated catheters

The effectiveness of IV catheters coated or infused with anti-microbial compounds such as silver sulfadiazine, rifampin, chlorhexidine, and other anti-microbial agents in avoiding central line-associated infections. In adults and children as well as the general patient population and patients undergoing stem cell transplantation, this method has been employed with non-tunneled and short-term catheters. This process is very complex. Hence, the high cost of anti-microbial coated catheters is hindering the growth of the neonatal intensive care units (NICU) catheters market. 

Opportunities: Technological advancements 

The future of the global neonatal intensive care units (NICU) catheters market will be defined by technological developments in neonatal intensive care units (NICU) catheters and recent demand driven innovations such as the introduction of anti-microbial neonatal intensive care units (NICU) catheters and anti-thrombogenic neonatal intensive care units (NICU) catheters. As a result, technological advancements is creating lucrative opportunities for the expansion of the global neonatal intensive care units (NICU) catheters market during the forecast period.  

Challenges: Complications associated with neonatal intensive care units (NICU) catheters procedures

The insertion of neonatal intensive care units (NICU) catheters is associated with a number of risks. The rate of mechanical difficulties is mostly dependent on the operator, and the majority are discovered after neonatal intensive care units (NICU) catheter insertion. The infectious and thrombotic problems follow mechanical difficulties in most cases. As a result, the complications during procedures acts as a major challenges for the expansion of the global neonatal intensive care units (NICU) catheters market over the projection period. 

Key Players in the Report

• Dickinson and Company
• Footprint Medical Incorporated
• Vigmed AB
• NeoMedical Inc.
• Smiths Medical
• Advin Health Care
• ICU Medical Inc.
• Marian Medical Inc.
• Bactiguard AB
• Cardinal Health Inc.

Segments Covered in the Report

By Type

• Peripherally Inserted Central Catheters (PICCs)
• Central Venous Catheters (CVCs)
• Umbilical Venous Catheters (UVCs)
• Others 

By End User

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Others

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