Fetal and Neonatal Care Equipment Market Analysis & Forecast to 2023-2033: Market By Product; By End-user; and By Region

The global fetal and neonatal care equipment market size was estimated to be USD 9.64 billion in 2023 and is expected to reach at USD 21.6 billion by 2033 with a CAGR of 7.59% during the forecast period 2023-2033. Rising prevalence of premature births, increasing government efforts to increase survival rates in such cases, growing prevalence of nosocomial infections in newborns, surge in awareness regarding newborn care equipment, rising initiatives by the market players, and growing introduction of advanced care equipment’s are some of the key factors boosting the market growth.

Growing introduction of advanced care equipment’s is predicted to boost the market growth during the forecast period. For instance, in May 2020, Devices for adult and premature baby acute care ventilation were unveiled by Dragerwerk AG & Co. KGaA in the form of the Evita V600 and V800, as well as the Babylog VN600 and VN800. These products were made accessible for global purchase.

By Product, Fetal care equipment was the highest revenue-grossing segment in the global fetal and neonatal care equipment market in 2022 owing to the growing need for fetal monitoring throughout pregnancy, increasing awareness, rising technological advancements, surge in adoption of portable ultrasound equipment for home use, and growing introduction of new devices. For instance, in June 2020, Royal Philips N.V. unveiled the Avalon CL Fetal and Maternal Pod and Patch, a remote monitoring solution enabling continuous tracking of maternal and fetal heart rates. This technology proves especially valuable in high-risk pregnancies, as it minimizes the need for in-person interactions between patients and healthcare providers, a crucial aspect during the pandemic. Additionally, Neonatal care equipment is predicted to grow at fastest CAGR during the forecast period owing to the increasing technological advancements in neonatal monitors, rising advancements in connection & usability in residential environments, growing need for neonatal respiratory treatment to shorten hospital stays and lower the risk of permanent impairment.

By End-user, Hospitals was the highest revenue-grossing segment in the global fetal and neonatal care equipment market in 2022 owing to the growing demand for technologically advanced equipment to improve patient care, rising presence of medical specialists, surge in number of NICUs in hospitals & high patient volume. Additionally, Clinics is predicted to grow at fastest CAGR during the forecast period owing to the increasing adoption of clinics, rising demand for rapid diagnosis & effective care through specialized care & specialty clinics, growing technological advancement, and surge in launch of advanced devices. For instance, in February 2022, Philips has enhanced its ultrasound offerings by adding advanced hemodynamic assessment and measurement capabilities to Lumify, its handheld point-of-care ultrasound device. The incorporation of Pulse Wave Doppler technology allows medical professionals to accurately quantify blood flow in various point-of-care diagnostic applications such as cardiology, vascular, abdominal, urology, obstetrics, and gynecology.

North America region is anticipated for the highest revenue share during the forecast period owing to the increasing number of preterm births, surge in demand for technologically advanced products, rising development of well-equipped NICU centers, growing number of product approvals from the FDA, and increase in investment by leading market layers. For instance, in March 2022, The Butterfly Network, Inc. received a USD 5 million award from the Bill and Melinda Gates Foundation to improve fetal and mother health. Butterfly will give 1,000 medical professionals in Sub-Saharan Africa the Butterfly iQ+, the only portable, whole-body point-of-care ultrasound probe in the world, thanks to this award. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the surge in initiatives by private & government organisations, growth in birth rate, rising awareness programs for newborn care, increasing development of fetal & neonatal care equipment’s, and rise in initiatives by market players. For instance, in September 2022, InnAccel Technologies, a startup based in Bengaluru, and the Centre for Cellular and Molecular Platforms (C-CAMP) have teamed up with the SAMRIDH Healthcare Blended Finance Facility to enhance respiratory support for newborns and children in Assam. They aim to achieve this through the development and implementation of a locally developed life-saving technological device, which will help reduce neonatal mortality caused by respiratory distress syndrome (RDS) in the region.

Segmentation: Fetal and Neonatal Care Equipment Market Report 2022 - 2033

Fetal and Neonatal Care Equipment Market Analysis & Forecast by Product 2022 - 2033 (Revenue USD Bn)

Neonatal Care Equipment

• Incubators
• Infant Warmers
• Respiratory Devices
• Phototherapy Equipment
• Convertible Warmers & Incubators
• Neonatal Monitoring Devices
• Others

Fetal Care Equipment

• Fetal Monitoring Devices
• Fetal MRI Systems
• Ultrasound Devices
• Fetal Pulse Oximeters
• Others

Fetal and Neonatal Care Equipment Market Analysis & Forecast by End-user 2022 - 2033 (Revenue USD Bn)

• Clinics
• Hospitals
• Others

Fetal and Neonatal Care Equipment Market Analysis & Forecast by Region 2022 - 2033 (Revenue USD Bn)

North America

• U.S.
• Canada

Europe

• Germany
• France
• UK
• Spain
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC

Latin America

• Brazil
• Mexico
• Argentina
• Rest of LATAM

Middle East & Africa

• South Africa
• GCC
• Rest of MEA