Fetal and Neonatal Care Equipment Market - Factors Driving Growth Post 2021
Author : Diksha Pote | Published On : 15 Sep 2021
Some of the prominent players in the Global Fetal and Neonatal Care Equipment Market are Fisher & Paykel Healthcare Limited, Natus Medical Incorporated, Philips Healthcare, Phoenix Medical Systems Pvt. Ltd., Toitu Co., Ltd., GE Healthcare, Masimo Corporation, Medtronic Plc, Arjo, Atom Medical Corporation, Cardinal Health, Drägerwerk AG & Co. KGaA, Edan Instruments, Inc., Utah Medical Products, Inc., Vyaire Medical Inc. and others
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The Global Fetal and Neonatal Care Equipment Market held a market value of USD 5,103 million in 2017 and is projected to grow at a CAGR of 6.8% over the forecast period.
Technological advancements and launching new innovative devices in the fetal and neonatal care equipment market are driving the market growth. Technological advancements enable the detection of multiple compounds through neonatal dried blood specimens. After the success of newborn screening in phenylketonuria, major competitors in the newborn screening market are innovating to develop and introduce new models with significant performance improvements. The launch of improved performance instruments of mass spectroscopy and pulse oximeters are also expected to support market growth. For instance, PerkinElmer’s QSight 210 MD system launched in September 2016, utilizes tandem quadrupole analysis which provides regular robust screening along with higher sensitivity and faster scanning.
The global fetal and neonatal care equipment market has been segmented into type, product, and end user.
By type, the market has been segmented into fetal monitors, fetal pulse oximeters, fetal ultrasound devices, fetal MRI systems, and fetal doppler devices. Fetal monitors segment is further segmented into antepartum fetal monitors and intrapartum fetal monitors.
Based on product, the market has been segmented into Infant warmers, neonatal phototherapy equipment, neonatal incubators, convertible warmers & incubators, respiratory care devices, neonatal monitoring devices, and neonatal diagnostic imaging devices. Infant warmers segment is further segmented into electric warmers and non-electric warmers. Neonatal phototherapy equipment segment is further segmented into conventional phototherapy and fiber-optic phototherapy. Respiratory care devices segment is further segment into neonatal ventilators, continuous positive airway pressure devices, and resuscitators, and others. Neonatal monitoring devices segment are further segmented into blood pressure monitors, cardiac monitors, pulse oximeters, capnographs, extracorporeal membrane oxygenation systems, and integrated monitoring devices. Neonatal diagnostic imaging devices segment is further segmented into ultrasound systems, X-ray imaging systems, and others.
On regional basis, the Americas is anticipated to dominate the global fetal and neonatal care equipment market owing to the growing R&D budgets by both government as well as commercial pharmaceutical and biotechnological companies and increasing adoption of advanced technologies in the region.
Europe is expected to hold the second largest position in the global fetal and neonatal care equipment market owing to the presence of strong academic & research base and availability of funding for research in the European countries. Asia-Pacific is anticipated to be the fastest growing region in the global fetal and neonatal care equipment market owing to the rising neonatal population, increasing mortality rate of neonates, and improving healthcare infrastructure. According to data published by the United Nation’s International Children’s Emergency Fund (UNICEF), the rate of neonatal mortality in India was 24% in 2017. According to a report published by the National Center for Biotechnology Information (NCBI) in December 2016, approximately 0.75 million neonates die in India every year. Neonatal Mortality Rate (NMR) for India is the highest for any country in the world. The Middle East & Africa has the least share of the global fetal and neonatal care equipment market. Moreover, the major market share of the region is expected to be held by the Middle East region owing to the increasing government initiatives for the healthcare sector.
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