Transparency Market Research in its new report titled, “Neonatal Peripherally Inserted Central Venous Catheter (PICCs) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the neonatal peripherally inserted central venous catheter market. The TMR report anticipates that the afer and advanced catheter insertion systems, and availability of trained technicians due to rise in adoption of PICC line will drive the neonatal peripherally inserted central venous catheter market during the forecast period i.e, 2018-2026.
The cost of vascular access device and its maintenance forms a crucial economic factor in the long-term management of complications. Neonatal intensive care is extremely expensive causing financial burden both on the family and the health care system, says the report.
As per the report, several global manufacturers plan to introduce innovative and technologically advanced products in the market and these innovations have presented numerous opportunities for the growth of the neonatal peripherally inserted central venous catheter market, offering easy use of vascular access devices associated with increasing patient safety. Vygon S. A. provides a range of improvised polyurethane PICC catheters such as Premicath injectable catheters, Nutriline, and Premistar. Pregnancy complications such as multiple births are associated with an increased risk of preterm delivery, low birth weight, and other associated high-risk morbidities.
This increases demand for NICU services. Newborn infections and birth asphyxia account for over 80% of all global neonatal deaths. This has created a need for early diagnosis and appropriate treatment in hospitals, which in turn has increased NICU admissions. These factors contribute to the growth of the global neonatal peripherally inserted central venous catheter market.
The TMR report has segmented the global neonatal peripherally inserted central venous catheter market based on type of PICC, end-user, and region. On the basis of type, the market is bifurcated into powered and conventional PICCs. The powered PICCs made up of polyurethane expected to grow due to comparatively high efficiency and easy insertion and removal while surgeries.
In terms of end-user, the global neonatal peripherally inserted central venous catheter market is split into hospitals, specialty clinics, and others. The hospitals segment is expected to be driven by high demand for vascular access devices in hospitals across the globe.
The report has divided the global neonatal peripherally inserted central venous catheter market into five key regions: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Among these, North America is expected to account for significant share of the global neonatal peripherally inserted central venous catheter market due to developed health care infrastructure, rise in number of premature births, and high adoption of PICC lines for vascular access. Europe was the second largest market for neonatal peripherally inserted central venous catheters in 2017. India, China, and Japan are the major markets for neonatal peripherally inserted central venous catheters in Asia Pacific. The global neonatal peripherally inserted central venous catheter market is highly consolidated, with small number of companies accounting for more than 60% share. Major players in the global market include C. R. Bard, Inc., Argon Medical, Teleflex Incorporated, Medical Components, Inc., Vygon S.A., Cook Medical Inc., and AngioDynamics, Inc.
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