Market Research Report
Fetal and Neonatal Monitoring Market - Growth, Trends, Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||661001|
|Published||Content info||120 Pages
Delivery time: 2-3 business days
|Fetal and Neonatal Monitoring Market - Growth, Trends, Forecasts (2020 - 2025)|
|Published: February 1, 2020||Content info: 120 Pages||
Fetal monitoring devices are vital tools that are routinely used in gynecology and obstetrics interventions to examine fetal health during labor and delivery. Neonatal devices are extensively used in the neonatal intensive care units (NICUs) where complex machines and monitoring devices are designed for the unique needs of newborn babies.
The prevalence of preterm births have increased in recent decades. These preterm newborns are found prone to diseases and infections. Hence, these newborns are kept under surveillance using moniterinf equipment. These factors has increased the demand for monitoring devices and equipment, which has also driven the technological advancements in the equipment. Moreover, many healthcare authorities in developing countries are also spreading awareness regarding these facilities to reduce the mortality rate of newborns. These factors have helped the growth of the market.
However, limited access to these facilities in under-developed and developing countries has hindered the further growth of the market. Also, the regulatory guidelines for market approval are also very stringent, which dissuades many manufacturers from entering the market.
Neonatal Monitoring Segment is Expected to Dominate the Market
Neonatal monitor is designed to continuously measure and display multiple vital physiological parameters of newborn and premature infants, especially those under critical care. The monitoring system is capable of monitoring parameters such as electrocardiogram, respiration rate, heart rate, blood pressure, peripheral capillary oxygen saturation (SpO2), and body temperature.
Neonatal monitoring instruments are used in neonatal intensive care unit (NICU), emergency room, and operating theatre at all levels of hospitals for continuous monitoring of the neonates and infants.
Preterm born babies are more prone to infections and diseases and require more care. According to a 2018 report by the Centers for Disease Control and Prevention, During 2014-2016, the preterm birth rate rose 3% in the United States, from 9.57% in 2014 to 9.63% in 2015 to 9.85% in 2016. As these babies require more care, increase in preterm birth is expected to drive the market growth.
North America is Expected to Dominate the Market
North America is found dominating the market as US and Canada have well structured and developed healthcare systems. These countries are found promoting research and development for pharmaceutical devices and hence have very high expenditure on healthcare. As a result of these policies, many companies globally are encouraged to operate in this region.
Moreover, most of the population in developed countries like US and Canada are covered under medical and health insurance and hence, are able to afford these care units. Hence, the North American region is expected to cover a large share of the neonatal intensive care market.
Majority of the fetal and neonatal monitoring equipment and devices are being manufactured by the global key players. Market leaders with more funds for research and better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the increase in awareness, that helps in the growth of the market.