The global neonatal and fetal care equipment market is projected to reach an approximate value of USD 11.96 billion by 2028, growing at a CAGR of 6.55%. Rise in prevalence of neonatal hospital-acquired infections, growing number of neonatal care facilities worldwide coupled with high incidences of preterm births across the globe are factors driving the neonatal and fetal care equipment market.
Adroit Market Research report on global neonatal and fetal care equipment market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2018 and 2019, with the base year of estimation as 2019 and forecast from 2020 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global neonatal and fetal care equipment market have been studied in detail.
Neonatal and fetal care equipment consist of a variety of equipment that are designed to monitor and detect complications in newborn babies. Increase in prevalence of preterm births globally, high maternal and infant mortality, rise in neonatal hospital-acquired infections are major factors propelling the growth of the market. Moreover, increase in focus and efforts by government organization on maternal and infant care coupled with surging number of neonatal care facilities is anticipated to boost global neonatal and fetal care equipment market growth.
The global neonatal and fetal care equipment market has been segmented based on product type, end-users, and region. Based on product type, the global neonatal and fetal care equipment market is categorized into fetal care and neonatal care equipment. Fetal care equipment segment is further sub-categorized into ultrasound devices, fetal monitors, fetal pulse oximeters, fetal MRI systems. Neonatal care equipment is further categorized into incubators, convertible warmers & incubators, neonatal monitoring systems, respiratory devices, infant warmers, and phototherapy devices. On the basis of end-users, the global neonatal and fetal care equipment market is segmented into hospitals, diagnostic centers, and others.
North America dominated the global neonatal and fetal care equipment market in 2019. High prevalence of preterm births in the U.S. and Canada, rising number of neonatal care facilities, presence of well-established market players in the region are key factors likely to drive the growth of the market in the next few years. For instance, 3.9 million babies are born in the U.S. every year, out of which, 12.0% are premature births. However, Asia Pacific neonatal and fetal care equipment market is anticipated to grow at a rapid pace over the forecast period owing to increase in number of preterm births in the region. For instance, according to WHO, more than 60% of preterm births occur in Africa and South Asia with India and China accounting for 3.5 and 1.1 million preterm births respectively.
Major players operating in the global neonatal and fetal care equipment market include GE Healthcare, Atom Medical Corporation, Dragerwerk AG & Co. KGaA, Koninklijke Philips N.V., Masimo Corporation, Fisher & Paykel Healthcare Limited, Medtronic plc, Natus Medical Incorporated, Phoenix Medical Systems Private Ltd., and Vyaire Medical among others.
Key Segments of the Global Neonatal and Fetal Care Equipment Market
Product Type Overview, 2018-2028 (USD Million)
- Fetal Care Equipment
- Ultrasound Devices
- Fetal Monitors
- Fetal Pulse Oximeters
- Fetal MRI Systems
- Neonatal Care Equipment
- Infant Warmers
- Respiratory Devices
- Phototherapy Devices
- Convertible Warmers & Incubators
- Neonatal Monitoring Devices
End-users Overview, 2018-2028 (USD Million)
- Diagnostic Centers
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
- South Africa
- Rest of Middle East & Africa