PUBLISHER: Orion Market Research | PRODUCT CODE: 1123235
PUBLISHER: Orion Market Research | PRODUCT CODE: 1123235
Fetal and Neonatal Care Equipment Market Size, Share & Trends Analysis Report by Product (Fetal Care Equipment ((Fetal Doppler Devices, Fetal MRI Systems, Fetal Pulse Oximeters, Fetal Ultrasound Devices, and Others), Neonatal Care Equipment (Incubators, Neonatal Monitoring Devices, Phototherapy Equipment, Respiratory Care Devices, and Others)), and Forecast Period 2020-2026
The global fetal and neonatal care equipment market is growing at a significant CAGR during the forecast period. The major factors that are augmenting the growth of the market are the increasing birth rate coupled with more infant fatalities and premature deliveries. In addition, advancement in technology along with affordability, rising awareness efforts by government and non-government organizations to inhibit kids' mortality rates, are also some of the primary factors that are contributing significantly towards the growth of the market. According to research and studies, 75% of neonatal fatalities occur during the first week of birth, and about 1 million newborn babies decease on the same day. On the other hand, certain factors are affecting the growth of the market such as the high cost of the equipment or product and stringent FDA regulations developed by the companies.
The increasing number of premature births has also been the major factor contributing to the growth of the market. Premature or a preterm birth refers to the birth that occurs from the onset of the 37th week of pregnancy to more than three weeks before the baby is due. The time required for the baby to completely develop is less in the case of preterm birth. Therefore, babies born through a preterm birth usually have medical complications. According to the WHO, each year, an estimated 15 million babies are born preterm and this number is on the rise. According to the CDC (Centers for Disease Control and Prevention), 1 in 10 babies was born too early in the US in 2018, which leads to a higher risk of death or serious disability. Therefore, a surge in incidences of preterm births is anticipated to raise the demand for fetal and neonatal care equipment used for its treatment, which ultimately fuels the growth of the market.
Segmental Outlook
The market is segmented on the basis of products into fetal care equipment and neonatal care equipment. Fetal care equipment further covers the analysis of fetal doppler devices, fetal MRI systems, fetal pulse oximeters, fetal ultrasound devices, and other fetal care devices. Among these, ultrasound is projected to contribute a prominent share to the fetal care equipment market.
Whereas neonatal care equipment is further segmented into neonatal incubators, neonatal monitoring devices (blood pressure monitors, capnography, cardiac monitors, extracorporeal membrane oxygenation systems, integrated monitoring devices, and pulse oximeters), neonatal phototherapy equipment (conventional phototherapy and fiber-optic phototherapy), and respiratory care devices (continuous positive airway pressure devices, neonatal ventilators, and resuscitators). Among these, the monitoring devices segment is estimated to contribute a prominent share.
Regional Outlook
The global fatal and non-fatal equipment market is further segmented on the basis of geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is estimated to be the leading region in the global fetal and neonatal care equipment market. Advancement in technology is one of the major factors driving growth in North America. While Asia-Pacific is anticipated to record the fastest growth rate during the forecast period owing to the presence of untapped markets including China, Japan, Korea, and India.
Global Fetal and Neonatal Care Equipment Market Growth, by Region 2020-2026
Global Fetal and Neonatal Care Equipment Market Growth, by Region
Asia-Pacific Will Have Considerable Growth in The Global Fetal and Neonatal Care Equipment Market
The Asia-Pacific is expected to create huge opportunities for the fetal and neonatal care equipment market in the forecast period. The market is anticipated to grow on the basis of a huge consumer base as the population increases by the day. Moreover, increasing healthcare spending by the government may contribute to the growth of the market.
Market Players Outlook
Major key players operating in the fetal and neonatal care equipment market include Atom Medical Corp., BD, Dragerwerk AG & Co. KGaA, F. Hoffmann-La Roche AG, GE Healthcare, Koninklijke Philips N.V., Siemens AG, and Welch Allyn, Inc., among more. These players have adopted several marketing strategies to gain a competitive edge, such as mergers, acquisitions, product launches, geographical expansion, among more. For instance, in 2020, Masimo acquired Lidco for $40.1 million to expand its monitoring solutions portfolio to support evidence-based clinical decisions for enhancing patient safety.
The Report Covers
Market value data analysis of 2019 and forecast to 2026.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global fetal and neonatal care equipment market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.