Global Neonatal Care Equipment Market | Growth, Trends, and Forecast (2018-2023)
According to the new market research report “ Neonatal Care Equipment Market Ultrasound, Doppler, Monitors (Intrapartum & Antepartum), Warmer, Incubator, Pulse Oximeter, Phototherapy/Jaundice Management Devices, CPAP, Capnograph, & Resuscitator) – Global Forecast to 2020″, published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world.
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This report studies the global fetal (labor & delivery) and neonatal care equipment market over the forecast period of 2015 to 2020. The market is estimated at USD 6.28 Billion in 2015 and is poised to grow at a CAGR of 6.5% during the forecast period, to reach USD 8.61 Billion by 2020.
Rising awareness among population in developing nations about neonatal and fetal care, growing number of NICU admissions and inflow of technologically advanced products are driving the growth of the Market. In addition, factors such as increasing prevalence of hospital acquired infections in newborn babies and huge patient populations of preterm & low weight birth babies in both developed & developing markets demand for neonatal care equipment are further stimulating the growth of the Market. However, factors such as poor accessibility towards proper neonatal care in the developing regions and decreasing birth rate in certain developed countries are restraining the growth of the Market.
Based on geography, the market is divided into North America (comprising the U.S. and Canada), Europe, Asia-Pacific, and Rest of the World. In 2015, North America held the largest share in the global Fetal (labor & delivery) and Neonatal Care Equipment Market, followed by Europe, Asia-Pacific, and RoW (Rest of the World). The Asia-Pacific region is estimated to grow at the highest CAGR in the forecast period. Factors such as increasing involvement of various private & public organizations to conduct awareness programs for the improvement of fetal care and neonatal care and increasing births in Asia-Pacific countries are driving the growth of the Market in the Asia-Pacific region.
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The global Market is broadly categorized into two segments, namely, fetal care equipment and neonatal care equipment. The neonatal care equipment segment accounts for the larger share of the global Market, while the fetal care equipment segment is expected to grow at a higher CAGR in the forecast period. The fetal equipment market includes ultrasound devices, fetal doppler, fetal magnetic resonance imaging (MRI) systems, fetal monitors (further classified into antepartum/external fetal monitors and intrapartum/internal fetal monitors), and fetal pulse oximeters. The market includes infant warmers, incubators, convertible warmers & incubators, phototherapy equipment, respiratory devices, and neonatal monitoring devices. Phototherapy equipment segment is divided into, conventional phototherapy, and fiber-optic phototherapy. Respiratory devices are classified into, neonatal ventilators, CPAP devices, oxygen analyzers and monitors, resuscitators, and others (including, apnea monitor, oxygen hood, nasal masks, feeding tubes, and nasal cannula). Neonatal monitoring devices segment is categories into, blood pressure monitors, cardiac monitors, pulse oximeters, capnographs, and integrated monitoring devices.
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The major stakeholders of the Market comprise neonatal care equipment manufacturing companies, fetal (labor & delivery) care equipment manufacturing companies, neonatologists, critical care nurses, distributors, suppliers, and commercial service providers, hospitals & clinics, and research laboratories & academic institutes.
The major players in the Market include GE Healthcare (U.K.), Philips Healthcare (Netherlands), Drägerwerk AG & Co. KGaA (Germany), Medtronic plc (Ireland), and Masimo Corporation (U.S.).