The demand is expected to be driven by the high prevalence of neonatal jaundice, an increase in the number of preterm births, and the launch of new drugs for use in Neonatal Intensive Care Units (NICU). A high prevalence of neonatal jaundice characterizes the global demand for neonatal critical care equipment. As per the National Center for Biotechnology Information, approximately 55.2 percent of neonates in the sample acquired jaundice in 2018. Jaundice, or hyperbilirubinemia, develops in about 60.0 percent of full-term infants during the first week of birth, according to The Royal Children's Hospital Melbourne, Australia.
To meet the demand, both public and private organisations are taking steps to expand the supply of NICUs. For example, BC Children's Hospital in Vancouver announced the opening of Teck Acute Care Centre in September 2017, claiming to be North America's first NICU to deliver urgent care to mothers and babies in the same space.
The major players operating in the global market include Cardinal Health,Drägerwerk AG & Co. KGaA, GE Healthcare, Koninklijke Philips N.V., Medtronic, BD, Vyaire, Utah Medical Products, Inc., Ambu A/S, Natus Medical Incorporated, Inspiration Healthcare Group plc.
Neonatal Critical Care Equipment Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 1.47 billion|
|Growth Rate||CAGR of 9.5% during 2021-2028|
|Segment Covered||Type, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Key Players Profiled||Cardinal Health,Drägerwerk AG & Co. KGaA, GE Healthcare, Koninklijke Philips N.V., Medtronic, BD, Vyaire, Utah Medical Products, Inc., Ambu A/S, Natus Medical Incorporated, Inspiration Healthcare Group plc.|
Key Segments of the Global Neonatal Critical Care Equipment Market
Type Overview, 2018-2028 (USD Million)
- Thermoregulation Equipment
- Phototherapy Equipment
- Monitoring Equipment
- Respiratory Equipment
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- Growing geriatric population, and their vulnerability to incontinence and chronic diseases, demanding continues use of incontinence products
- Proliferation of online sales channel, cannibalizing the position of hospital and retail pharmacies
- Consistent threat of deadly infections in hospital and healthcare settings urging the use of disposable medical supplies especially in emerging countries and remote locations
What does the report include?
- The study on the global neonatal critical care equipment market includes qualitative insights such as drivers, restraints, challenges and opportunities
- Additionally, the market has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of type, and end user. Moreover, the study on neonatal critical care equipment market provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global neonatal critical care equipment market is suitable for all the players across the value chain including component and raw material providers, disinfectant manufacturers, distributors, and other intermediaries
- Venture capitalists and investors looking for more information on the future outlook of the global neonatal critical care equipment market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global neonatal critical care equipment market
Children in the neonatal era are very difficult to physicians. The newborn is unstable during the phase from intrauterine to extrauterine life. In the first month of childhood, genetic abnormalities, congenital defects, and metabolic problems will all appear. It can be difficult to tell what is natural and what is abnormal, and identifying slight anomalies can help with early detection and therefore improve the infant's odds of living a normal life. Organ systems are discussed in detail, with both benign and life-threatening illnesses examined.
COVID-19's accelerated dissemination has resulted in tens of thousands of hospital visits, creating a market for surgical supplies in healthcare facilities. COVID-19 infection is more likely in newborns and children because their immune systems are still developing. As a result, many federal agencies have developed strict monitoring rules and guidelines, as well as effective screening protocols for newborns and children.
Based on type, the global market is segmented into thermoregulation equipment, phototherapy equipment, monitoring equipment, respiratory equipment, and others. In 2019, the respiratory equipment segment led the industry, accounting for more than 30.0 percent of total sales. An rise in respiratory conditions requiring neonatal intensive care unit treatment, as well as the introduction of new technologies, are driving the growth of the neonatal critical care equipment industry. For example, Koninklijke Philips N.V. released the Augmented Infant Resuscitator (AIR) in September 2018 to help in the resuscitation of asphyxiated newborn babies. Philips created the device in collaboration with the Massachusetts-based Consortium for Affordable Medical Technologies (CAMTech).
Because of a large demand for technologically innovative technologies that ensure improved healthcare delivery for neonates, North America led the industry with a sales share of 40.2 percent in 2019. The growth of well-equipped NICU centers, as well as a growing number of FDA approvals for neonatal critical care devices, has resulted from the value-based healthcare paradigm. From 2020 to 2027, the demand for neonatal critical care devices in Asia Pacific is expected to grow at the highest rate of 10.9 percent. The high number of new births in the area, as well as an increase in healthcare spending, are driving the demand for neonatal critical care equipment to expand.