Global Neonatal Infant Care Equipment Market projected to grow at a CAGR of 7.4% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Neonatal Infant Care Equipment Market by Types (Thermoregulation devices, Hearing Screening, Vision Screening and Monitoring Devices), Products (Infant Warmers & Incubators, Respiratory Assistance and Phototherapy Equipment), End-users, Region and Global Forecast 2020-2027.
The global neonatal infant care equipment market is expected to grow from USD 1.91 billion in 2019 to USD 3.63 billion by 2027, at a CAGR of 7.4% during the forecast period 2020-2027. North America is dominant region in terms of share of neonatal infant care equipment market. The high number of premature births, lifestyle changes and maternal mortality rate are the factors driving the market. The availability of advance medical healthcare infrastructure is the critical reason responsible for growth. However, Asia-Pacific is another region expected to grow at an impressive rate. The increasing initiatives by the government, especially in developing countries, are playing a vital role in fostering the market demand.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the neonatal infant care equipment are Natus Medical Incorporated, Fisher & Paykel Healthcare Limited, GE Healthcare, General Electric Company, Koninklijke Philips N.V., CooperSurgical, Inc., Inspiration Healthcare Group plc, Hamilton Medical, Medtronic, Nihon Kohden Corporation, Dragerwerk AG & Co. KGaA, Fujifilm Holdings Corporation, Abbott, Analogic Corporation, Nonin, Getinge AB, Atom Medical Corp. and others. Recently, Abbott gained the U.S. FDA approval for the launch of its new product Amplatzer Picolo Occluder, a tiny heart device.
The type segment includes thermoregulation devices, hearing screening, vision screening and monitoring system. Monitoring system holds a significant market share. Monitoring devices are essential for monitoring the nerves, heartbeat and other activities of the neonatal infant. The constant technological advancements and ease of use are the vital factors for growing market demand. The product segment includes infant warmers & incubators, respiratory assistance and phototherapy equipment. Infant warmers and incubators constitute the most significant market shares. Incubators are an environment where moisture, oxygen and temperature are controlled. Due to premature birth, neonatal infants are vulnerable to risk possessed by outside environments. Therefore, incubators are highly demanded by the end-user industries. The end-user segment includes hospitals, nursing homes, pediatric & neonatal clinics and others. Hospitals are the dominant end-user. Nursing homes are the predominant end-user. Nursing homes are specialized for deliveries and maternal care. Thus, they register more number of neonatal infant care cases as patients receive specialize treatments.
The neonatal infant needs attention because they are born prematurely. Their body weight is less than a full-term baby. The number of premature births is increasing, which is why the need for neonatal care equipments is simultaneously rising. Further, people are becoming more aware of neonatal care. Neonatal care has become a global priority as the number of premature births and maternal complications are rising. Thus, this issue is concerning for all the countries. The government in many countries is providing corporation for promoting a healthy population.
About the report:
The global neonatal infant care equipment market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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