Neonatal Intensive Care Unit (NICU) Catheters Market Size to Surpass US$ 560.06 MN by 2030

The Neonatal Intensive Care Unit (NICU) Catheters Market was valued at US$ 343.91 million in 2021 and is projected to surpass US$ 560.06 million by 2030 with a CAGR of 5.6% from 2022 to 2030.

In the hospitals and clinics of all the developed nations there are in-house neonatal care units. The market for the Neonatal Intensive Care unit is expected to grow due to the awareness amongst the physicians and the patients regarding the benefits of the same. The NICU requires expert medical staff and specialists. Every year about 15 Million babies are born preterm and the number is increasing. Every year due to underdeveloped defense systems in the preterm babies or the newborn babies, they are prone to chronic diseases.

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Regional Snapshot

Due to a great demand for technologically advanced products and good health carefor new units. The North American market is expected to grow during the forecast. There is a development of well equipped new little intensive care centers and more approvals from the government for the establishment of the same. In North America due to an increased healthcare expenditure and a high number of new births every year, the Asia Pacific region is expected to grow rapidly during the forecast. The regulatory policies in these developing nations like India has established a good desire for the critical care equipment and health care facilities provided to the babies. The markets in Middle East, Africa and Latin America are expected to show a slower growth.

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Market Dynamics

Drivers

Across the globe people are suffering with chronic diseases like high blood pressure, diabetes and an increase in the sedentary lifestyle. These are the major factors why there are premature births globally. The Center for Disease Control and Prevention in US stated that about two to ten percent of the pregnancy cases in The United States have gestational diabetes. There is a demand for high quality care for the new born and this is expected to drive the new little care equipment market growth. In all the preterm births approximately 7% of the infants have infant respiratory distress syndrome. The increase in these comorbid conditions is likely to give a boost to the market in the developing as well as the developed economies. An increased awareness amongst the people about the NICUand the admissions are likely to boost during the forecast due to all the factors mentioned. In the US one in seven babies born are admitted in the NICU and this is the case every year. So this also happens to accelerate the growth of the market. There is an increased emphasis on research and development in order to innovate neonatal intensive care equipment to serve the future demands.

Restraints

Neonatal intensive care equipment is expensive and it also incurs a lot of maintenance cost. These factors may hinder the growth of NICU market during the forecast. As it is expensive and the accessibility of this equipment in the developing nations is less, as not many people can afford it, the low cost refurbished devices have a good market in developing economies or developing countries. The refurbished equipment is another factor for restraining the growth of the market. Decreasing birthrates is also expected to hinder the growth of the global neonatal Intensive care unit market.

Opportunities

The future NICU should envision the world from the infant's point of view. The designing of the NICU should support the infant’s developmental needs as well as the physical needs, which are very critical and important. As the parents are the infant’s primary caregivers, they should be able to do their job by staying in the unit with the infant and should not be limited by any environmental stressors or staff attitudes.

Challenges

Many economic constraints in the developing countries and lack of awareness, along with the decreasing birthrates in the developed nations will hinder the growth of the market for the neonatal intensive care. Delayed approval for the newly researched products will also act as the biggest and the foremost challenge for the growth of the market.

Report highlights

On the basis of the product type, the NICU market is segmented into neonatal phototherapy system, neonatal ventilators, neonatal incubators, neonatal monitors and others. The Incubator segment has grown in the past years and it is expected to grow during the forecast. The incubators are the prerequisites for the intensive care unit. They help in maintaining the thermal balance in the chamber. Thereby increasing the survival rate of the newborn. The advanced incubators play a very important role in the health care settings. The ventilator segment, on the other hand, is also expected to grow during the forecast. As there are many respiratory disorders in the premature babies, the demand for this product is also expected to rise. The real time data which is shown on the neonatal monitors is expected to grow the demand for the same.

On the basis of the end user, the market is segmented into special clinics and hospitals. Due to the availability of advanced equipment in the hospital this market segment is expected to grow during the forecast. Hospitals have skilled professionals and the number of hospitals with their NICU units across the world is likely to have specialized care for the newborns, thereby increasing the market segment.

Recent Developments

In 2019, GE Healthcare launched Lullaby incubator XP and Lullaby incubator TR.In the Middle East they manage thermally sensitive infants in neonatal intensive care units.

Health Care Group PLC announced the launch of CosyTherm2 controller for neonatal care units in 2019. In order to strengthen its brand presence, the company showcased its various product offerings at the world's largest medical trade fair for medical technology in 2019.

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

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

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