Fetal And Neonatal Heart Monitor Market To Record A Steady 5.5% Value CAGR By 2028
The recently published market study by Fact.MR highlights the current trends that are expected to influence the dynamics of the Fetal and Neonatal Heart Monitor Market in the upcoming years. The report introspects the supply chain, cost structure, and recent developments pertaining to the Fetal and Neonatal Heart Monitor Market in the report and the impact of the COVID-19 on these facets of the market. Further, the micro and macro-economic factors that are likely to impact the growth of the Fetal and Neonatal Heart Monitor Market are thoroughly studied in the presented market study.
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Global sales of fetal and neonatal heart monitors are likely to surpass 261,000 units in 2018, with rising adoption in the US driving sales. Cardiotocographs remain the highest selling fetal and neonatal heart monitor devices, with global sales equating a valuation of nearly US$ 400 Mn in 2017. Demand continues to remain concentrated in hospitals and neonatal clinics, with the former accounting for a leading share.
The fetal and neonatal heart monitors continues to be driven by efforts to mitigate the number of preterm births. Data from National Center for Health Statistics shows that the US has a high infant mortality rate among developed economies. The number of deaths per live births also remains a concern in Europe, with governments and healthcare providers in the United Kingdom, France, Germany, and Italy working towards mitigating the numbers.
The report finds that Asia Pacific excluding Japan (APEJ) will emerge as a lucrative market for fetal and neonatal heart monitor manufacturers during the assessment period. Many countries in the region have high infant mortality rates, and there has been a concerted effort by governments and healthcare providers to improve the situation.
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The segmentation analysis offered can be useful for the report readers in understanding probable opportunities and potential markets for the target product – fetal and neonatal heart monitor. A taxonomy table incorporated in the report illustrates all the market segments in a systematic manner as depicted below.
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Demand for table top fetal and neonatal heart monitor devices is higher than portable and handheld variants. Hospitals and neonatal clinics around the globe prefer table top devices due to workforce familiarity and cost benefits. The report projects demand for table top devices to be higher than portable and handheld devices over the forecast period.
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