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Neonatal Care Device Market - Forecasts from 2021 to 2026

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  • 112 Pages
  • July 2021
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 5397940
The global neonatal care device market is evaluated at US$8.849 billion for the year 2019 growing at a CAGR of 6.08% reaching the market size of US$13.378 billion by the year 2026.

Neonatal care is a subspecialty of healthcare that involves nursing babies born either prematurely, or with problems like low weight, birth defects, infection, cardiac malformations, or other surgical problems that require specialized treatment. There are four levels of neonatal care, intensive care, high dependency care, low dependency care, and transitional care. North America held a significant share of the market which is attributed to high equipment demand and an increasing number of FDA approvals for neonatal care devices. Emerging economies of the Asia Pacific region are expected to significantly influence demand for these devices in the years ahead, owing to growing awareness and a high birth rate. Rising health spending and favorable reimbursement policies in developed nations are expected to drive growth in the neonatal care devices market

The rise in preterm and low-weight births is one of the major factors for the growth of the neonatal care equipment market. With the rising number of births, a large number of complications are associated with preterm births, leading to neonatal deaths. In the United States, as per the Centers for Disease Control and Prevention (CDC), preterm births affected about one out of every 10 infants born, in 2016. Moreover, the incidence of diseases among newborns has also increased. These factors have increased the demand for neonatal care equipment in the market. However, the rising cost of neonatal care, along with advancements in medical devices, is one of the major factors hindering the neonatal care equipment market.

Furthermore, Neonatal monitoring instruments and equipment are used in the neonatal intensive care unit (NICU), emergency room, and operating theatre at all levels of hospitals for continuous monitoring of the neonates and infants. The demand for this equipment has increased to increase in preterm births, even in developed. Preterm-born babies are more prone to infections and diseases and require more care. According to a 2018 report by the Centers for Disease Control and Prevention, During 2014-2016, the preterm birth rate rose 3% in the United States, from 9.57% in 2014 to 9.63% in 2015 to 9.85% in 2016. As these babies require more care, an increase in preterm birth is expected to drive the market growth.

The market has been significantly driven by the increasing health expenditures done by several governments to enhance the technological advancements in the sector. Several governments are making up different regulations to reduce the preterm birth rate.

The advent of COVID-19 triggered the declining trend in the neonatal market. This is due to the significant decline in the number of preterm births during the year. Globally, preterm birth is the leading cause of death in children under 5 years old, according to the WHO. In the U.S., the preterm birth rate has been on a consistent upward trajectory, with 2019 being the fifth straight year in a row that the rate increased. Between 2018 and 2019, the preterm birth rate rose by 2%, according to the CDC. A preprint study from Denmark, which included more than 31,000 infants born between 2015 and 2020, showed around a 90% decrease in extremely preterm births (those born before 32 weeks' gestation) during the lockdown period. In Ireland, another study published in BMJ Global Health observed a 73% reduction in extremely low birth weight deliveries, from January to April of last year. Moreover, according to a study done by Lancent Global Health, the overall preterm birth rate was not significantly different before and during the pandemic, the rate in high-income countries declined by 9%. Spontaneous preterm births in high-income countries saw an even greater reduction, falling by almost 20%.

Rising awareness about neonatal health & care device is expected to fuel the market during the forecast period.

The increasing prevalence of neonatal hospital-acquired infections and rising awareness about neonatal health & care equipment are expected to contribute to market growth. According to the UN Foundation, maternal & infant care is a global priority, since around 800 women die every day from preventable causes associated with pregnancy or childbirth. This has led to increased demand for neonatal and fetal care equipment. Furthermore, HAIs are primarily a concern for premature and infants with medical disorders requiring prolonged hospitalization.

The UNICEF (United Nations International Children's Emergency Fund) data stated that 2.5 million children died in the first month of life in 2017 across the world. Furthermore, preterm and low-weight birth babies are susceptible to many health risks and require specialized care. Hence, the demand for neonatal equipment is expected to grow exponentially. Neonatal equipment has been observed to have an increasing demand in middle-income countries, as birth rates in these countries are higher, and the priority for improved fetal & neonatal care is high in these countries. As a result, sales of the equipment are expected to flourish at a rapid rate.

Market Segmentation:

By Type

  • Medical Light
  • Infant Warmer
  • Incubator
  • Phototherapy Equipment
  • Respiratory Device
  • Neonatal Monitoring Device

By Geography

  • North America
  • USA
  • Canada
  • Mexico
  • South America
  • Brazil
  • Argentina
  • Others
  • Europe
  • Germany
  • France
  • UK
  • Others
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • Others
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Taiwan
  • Thailand
  • Indonesia
  • Others
Frequently Asked Questions about the Neonatal Care Device Market

What is the estimated value of the Neonatal Care Device Market?

The Neonatal Care Device Market was estimated to be valued at $8.85 billion in 2019.

What is the growth rate of the Neonatal Care Device Market?

The growth rate of the Neonatal Care Device Market is 6.0%, with an estimated value of $13.38 billion by 2026.

What is the forecasted size of the Neonatal Care Device Market?

The Neonatal Care Device Market is estimated to be worth $13.38 billion by 2026.

Who are the key companies in the Neonatal Care Device Market?

Key companies in the Neonatal Care Device Market include Drägerwerk AG, Medtronic PLC, GE Healthcare, Koninklijke Philips N.V., Masimo, Natus Medical Incorporated, Phoenix Medical Systems (P) Ltd, Vyaire Medical and Getinge AB.

Table of Contents

1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Neonatal Care Device Market Analysis, by Type
5.1. Introduction
5.2. Medical Light
5.3. Infant Warmer
5.4. Incubator
5.5. Phototherapy Equipment
5.6. Respiratory Device
5.7. Neonatal Monitoring Device
6. Neonatal Care Device Market Analysis, by Geography
6.1. Introduction
6.2. North America
6.2.1. USA
6.2.2. Canada
6.2.3. Mexico
6.3. South America
6.3.1. Brazil
6.3.2. Argentina
6.3.3. Others
6.4. Europe
6.4.1. Germany
6.4.2. France
6.4.3. UK
6.4.4. Others
6.5. Middle East and Africa
6.5.1. Saudi Arabia
6.5.2. UAE
6.5.3. Others
6.6. Asia Pacific
6.6.1. China
6.6.2. India
6.6.3. Japan
6.6.4. South Korea
6.6.5. Taiwan
6.6.6. Thailand
6.6.7. Indonesia
6.6.8. Others
7. Competitive Environment and Analysis
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. Company Profiles
8.1. Drägerwerk AG
8.2. Medtronic PLC
8.3. GE Healthcare
8.4. Koninklijke Philips N.V.
8.5. Masimo
8.6. Natus Medical Incorporated
8.7. Phoenix Medical Systems (P) Ltd
8.8. Vyaire Medical
8.9. Atom Medical Corporation
8.10. Getinge AB

Companies Mentioned

  • Drägerwerk AG
  • Medtronic PLC
  • GE Healthcare
  • Koninklijke Philips N.V.
  • Masimo
  • Natus Medical Incorporated
  • Phoenix Medical Systems (P) Ltd
  • Vyaire Medical
  • Atom Medical Corporation
  • Getinge AB