Large Patient Pool and Large Number of Preterm Births to Boost Global Neonatal and Pediatric Feeding Tubes Market
The global neonatal and pediatric feeding tubes market is projected to witness strong growth during the forecast period, due to a number of factors. The number of children with chronic health conditions is on the rise. Research presented at the Pediatric Academic Society’s 2016 meeting showed that chronic health conditions are most common among children who live in or near poverty. Poor children with these conditions were more likely to have two or more additional diseases also. Those living in extreme poverty were roughly twice more likely to have at least one or more chronic medical conditions. In another study published in the February 2017 issue of the Journal of the American Medical Association, it was found that the rate of prevalence of chronic health conditions among children in the U.S. doubled between 1994 and 2006. Increase in the number of preterm births and the large number of pediatric patients are expected to drive the global neonatal and pediatric feeding tubes market during the forecast period.
Global Neonatal and Pediatric Feeding Tubes Market – Competition Landscape
Major players operating in the global neonatal and pediatric feeding tubes market are Cardinal Health, Fresenius Kabi, Avanos Medical Devices, Smiths Group plc, Becton, Dickinson and Company, Poly Medicure Limited, and Neochild, LLC.
Cardinal Health Inc.
Cardinal Health Inc. was founded in 1971 and it is headquartered in Dublin, the U.S. Cardinal Health, Inc. is an integrated health care services and products company providing customized solutions to hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, and physician’s offices across the world. The company offers medical products, pharmaceuticals, and solutions for increasing the efficiency of supply chains from hospitals to homes.
Global Neonatal and Pediatric Feeding Tubes Market: Dynamics
A childbirth that occurs before 37 weeks (or 259 days) of the normal gestation period is referred to as a preterm birth. The number of such births has been rising over the last few years, due to increase in the maternal age of women across various regions of the world. Preterm birth is a major factor responsible for neonatal morbidities and mortalities. It has long-term adverse effects on the baby’s health. Premature babies have increased chances of having or developing cerebral palsy, learning disabilities, respiratory issues, sensory deficits, and several other issues compared to babies born at term. Preterm births are often associated with morbidity. On reaching adult life, such individuals may face adverse psychological and physical conditions. According to a WHO report in 2017, around 15 million babies are born preterm globally every year. 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 drives the demand for NICU services. According to Medscape, the rate of incidence of multiple births increased significantly in the late 20th century in the U.S. and across the world. Birth weight is closely associated with gestational age. Due to increased rate of incidence of preterm delivery with low birth weight, these neonates are vulnerable to nosocomial infection and necrotizing enterocolitis. This also fuels the demand for neonatal and pediatric feeding tubes at hospitals. Newborn infections and birth asphyxia account for over 80% of all neonatal deaths across the globe. This has created a need for early diagnosis and appropriate treatment in hospitals. This, in turn, has increased the number of NICU admissions.