Neonatal Care Equipment Market to achieve CAGR of 6.1% between 2023 and 2032, owing to an increasing number of NICU admissions | insightSLICE
The global Neonatal Care Equipment market size was estimated to be US$ 6.9 billion in 2021 and is expected grow at a CAGR of 6.1% between 2023 to 2032.
This report also offers strategic insights into the global neonatal care equipment market along with the market size. The research also includes the most recent innovations and competitive analysis of the top vendors of neonatal care equipment.
Due to medical issues including low birth weight and early birth, new-borns or neonates need specialized care and/or monitoring. These infants are kept in special wards and given care, or neonatal care, in order to ensure good care and healthy development.
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The key players of the Global Neonatal Care Equipment Market are:
Some of the key players present in the Neonatal Care Equipment Market include Atom Medical Corporation, Becton, Drägerwerk AG & Co. KGAA, Dickinson and Company, Fisher & Paykel Healthcare Corporation Limited, GE Healthcare (A Division of General Electric Company), Masimo Corporation, Medtronic Public Limited Company, Natus Medical Incorporated, OSI Systems, Phoenix Medical Systems Pvt. Ltd., Philips Healthcare (A Division of Koninklijke Philips N.V.), Spacelabs Healthcare, Smiths Medical, Utah Medical Products, and Welch Allyn. Pvt. Ltd., among others.
These players have the most significant product development and sales revenue however other players are emerging and will change market dynamics significantly during the forecast period.
Driving factors for the growth of Global Neonatal Care Equipment Market
The development of multi-specialty new-born and infant care products by both international and local companies in the market is the key factor driving the global neonatal infant care equipment market.
Companies are introducing novel items to get over market growth hindrances such as a scarcity of technical manpower and the availability of substitute technologies. Additionally, businesses are creating integrated goods to meet the diverse needs of the medical sector around the world, particularly in nations like China, India, and Africa.
The management of preterm new-borns has also benefited significantly from technological developments and advancements made in the twenty-first century to create extremely effective tools for baby care.
For the baby’s critical care and monitoring, equipment like infant warmers and incubators, cardiopulmonary resuscitation and monitoring, light therapy equipment, and neonatal monitors are employed.
Better mechanical fans and double-walled servo-controlled incubation provide better handling and care than their forerunners while producing higher yields and beneficial outcomes. To improve access to neonatal clinics, some multi-chain hospitals have opened specialist paediatric clinics in various places.
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Global Neonatal Care Equipment Market Key Segments:
- Infant Warmers
- Electric Infant Warmers
- Non-electric Infant Warmers
- Convertible Incubators
- Phototherapy Equipment
- Respiratory Devices
- Neonatal Invasive Ventilators
- Cpap Devices
- Oxygen Analyzers And Monitors
- Neonatal Monitoring Devices
- Blood Pressure Monitor
- Cardiac Monitor
- Pulse Oximeters
- Integrated Monitoring Devices
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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Regional performance of Neonatal Care Equipment Market
With more than 40 percent of the global market share, the American region dominated the neonatal and fetal care equipment industry. Due to the enormous demand for such devices and the rising number of FDA clearances for these devices, the US is the primary source of income in the region.
In 2015, the market for fetal and neonatal care equipment was dominated by North America. Due to the significant demand for technologically improved items that guarantee better healthcare delivery, the U.S. accounted for a significant portion.
The establishment of well-equipped NICU facilities and an increase in the number of FDA device approvals are both results of the value-based healthcare strategy. On the other hand, it is expected that throughout the forecast period, the Asia Pacific market would grow at the fastest rate.
In emerging nations like India, where government programs are expanding, there is a significant market for pediatric medical equipment. For example, the National Rural Health Mission is a program designed to boost government spending on health in order to offer mothers and children better health facilities across India.
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