Umbilical Vessel Catheters Market
Number of pages: 100 | Report Format: PDF | Published date: May 24, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
CAGR |
4.95% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Type, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global umbilical vessel catheters market is expected to register a revenue CAGR of 4.95% from 2023 to 2031.
Umbilical Vessel Catheters Market Fundamentals
Umbilical vessel catheters, also known as umbilical catheters or umbilical lines, are medical devices used in neonatal medicine to access the circulatory system of newborn infants. These catheters are inserted into the blood vessels of the umbilical cord stump, which is the remnant of the umbilical cord after it has been clamped and cut at birth. Umbilical vessel catheters are typically made of flexible, medical-grade materials such as silicone or polyurethane. They come in different sizes and lengths to accommodate the varying sizes of neonatal umbilical vessels. The catheters have markings or color-coded indicators to ensure accurate placement and to assist with monitoring. There are two main types of umbilical vessel catheters, umbilical arterial catheters (UAC) and umbilical venous catheters (UVC).
The research study on the umbilical vessel catheters market overview thoroughly analyzes the market and the aspects that either help or hinder the market's growth, such as its drivers, challenges, and opportunities. The research also discusses the list of businesses that operate in this market and their efforts to establish themselves as major players through expansion plans and innovative ideas. It also emphasizes current events that support the market's revenue expansion. The research also analyses how the COVID-19 pandemic has affected society.
This report is an important tool for the industry stakeholders to gather all the information about the market, customers, and competition. The report also provides the readers with valuable insights on the segmentation, regions, market size & forecast, revenue CAGRs, and other valuable data to help make informed strategic decisions. The study compiles information gathered from industry participants and specialists across the industry value chain. The report also taps into the qualitative and quantitative assessments by industry analysts. Our reports use different methods for estimating the market size and forecast, including secondary research, surveys and interviews, and statistical modeling. With these steps, our reports provide the most accurate market data. These datasets will cumulatively provide in-depth umbilical vessel catheters market forecast to the industry stakeholders.
Umbilical Vessel Catheters Market Dynamics
The rising incidence of premature births globally has led to an increased demand for neonatal medical interventions. Umbilical vessel catheters play a vital role in providing access to the circulatory system of premature infants, facilitating monitoring and treatment. The growing prevalence of premature births drives the demand for umbilical vessel catheters. For instance, according to the WHO’s factsheet of May 2023, an estimated 13.4 million babies were born preterm in 2020. Moreover, advances in neonatal medicine have improved the survival rates of critically ill newborns. Umbilical vessel catheters are integral to the medical interventions and therapies provided in neonatal intensive care units (NICUs). Technological advancements in catheter design, materials, and imaging techniques have enhanced their safety, effectiveness, and ease of use.
Additionally, the risk of complications and the availability of alternatives are some of the restraints impeding the overall umbilical vessel catheter market growth.
Umbilical Vessel Catheters Market Ecosystem
Umbilical Vessel Catheters Market, by Type
Umbilical Vessel Catheters Market, by End User
Umbilical Vessel Catheters Market by Type
The umbilical venous catheters segment dominated the market with the largest revenue share in 2022. Umbilical venous catheters are medical devices specifically designed for insertion into the umbilical vein, which carries deoxygenated blood from the fetus to the placenta for oxygenation. Umbilical venous catheters serve multiple functions in neonatal care. They provide direct access to the central venous system, allowing for administering fluids, medications, parenteral nutrition, and blood transfusions. The umbilical vein is a convenient and reliable route for delivering these treatments to newborn infants.
Segmentation of the market refers to the division of the industry into subgroups based on factors such as type, end user, and region. Market segmentation data helps businesses to understand the preferences and unique needs of different customer groups and develop targeted sales strategies. This information also helps in identifying potential Umbilical Vessel Catheters market growth opportunities.
Umbilical Vessel Catheters Market by Region
North America dominated the global umbilical vessel catheters market with the largest revenue share in 2022, with a CAGR of 4.8% during the forecast period, owing to advanced healthcare infrastructure, high awareness about neonatal care, and a large patient population. The market is characterized by steady growth, with the introduction of technologically advanced catheters and increasing adoption in neonatal intensive care units (NICUs). For instance, according to the Center for Disease Control and Prevention’s article of November 2022, in 2021, preterm births affect about 1 of every 10 born infants in the U.S. North America has a well-developed healthcare infrastructure, including specialized neonatal care facilities and NICUs. Advanced healthcare facilities, skilled healthcare professionals, and robust reimbursement systems contribute to the widespread adoption of umbilical vessel catheters in the region.
Based on the regions, the global umbilical vessel catheters market is segmented into:
Regional demarcation of the industry will provide information on geographic pockets regarding umbilical vessel catheters market outlook, size, share, and growth rate. This data helps businesses evaluate the expansion potential into new regional markets, understand the competitive threats across different regions, and develop localized sales and expansion strategies.
Key Components of the Report
Umbilical Vessel Catheters Market Competitive Landscape
The market competitive landscape is performed by collecting and analyzing information about the key competitors, the present industry trends, and market dynamics. It includes information collection and analysis on factors such as products, pricing, geographic outreach, customer demographics, marketing strategies, and recent developments. Competitive landscape assessment will help businesses identify the current prevalent or potential opportunities and threats keeping in mind the umbilical vessel catheters industry trends.
Umbilical Vessel Catheters Market Strategic Developments
Key Strengths of Our Report
Target Audience to Benefit from this Report
Reasons to Buy this Report
Umbilical vessel catheters, also known as umbilical catheters or umbilical lines, are medical devices used in neonatal medicine to access the circulatory system of newborn infants.
Mergers, acquisitions, and partnerships are the major strategies adopted by key market players.
North American region will have the largest umbilical vessel catheters market size during the forecast period from 2023 to 2031.
The revenue CAGR of the umbilical vessel catheters market during the forecast period will be 4.95% from 2023 to 2031.
Increasing demand for minimally invasive procedures is the most prominent umbilical vessel catheters industry trend.
The risk of complications and the availability of alternatives are some key challenges hampering the growth of the global umbilical vessel catheters market.
The increasing prevalence of premature births and advancements in neonatal medicine are growth opportunities in the global umbilical vessel catheters market.
Some key players in the umbilical vessel catheters market are Sterimed Group, Angiplast Pvt Ltd., Vygon SA, Utah Medical Products, Inc., Hummingbird Medical, and Neotech Products LLC.
The umbilical venous catheter segment has the highest share in the global umbilical vessel catheters market.
*Insights on financial performance are subject to the availability of information in the public domain