$8.2 Billion Fetal and Neonatal Market to boom at 10.8% CAGR due to rising awareness and adoption of advanced technologies, coupled with robust spending on R&D: Market Decipher
PR Newswire
PUNE, India, Nov. 28, 2022
PUNE, India, Nov. 28, 2022 /PRNewswire/ -- Market Decipher has published latest research report - "Fetal and Neonatal Market Size, Statistics, Growth Trend Analysis, and Forecast Report, 2022 – 2032", which includes an extensive analysis of the market's characteristics, size and growth, segmentation, regional and country breakdowns, competitive environment, market shares, recent trends and strategies, while tracing the development of the market over time and projecting regional market growth. The research estimates the Fetal and Neonatal market size to reach a whopping $21.6 billion by 2032 from the current size of $8.2 billion, growing at a CAGR of 10.8%.
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"The rapidly changing clinical risks for congenital and obstetric complications is one of the most important factors intensifying the growth and demand of fetal and neonatal critical care equipment market. The growing numbers of preterm and low-weight births, the increasing percentage of NICU admissions, the growing rate of incidences for hospital-acquired infections, the increasing cases of preterm hypothermia that leads to infant morbidity and mortality and rising awareness of neonatal and foetal care in developing countries are driving growth in the foetal and market. The high growth of integrated and multifunctional neonatal care equipment as well as the emerging markets, and the rapid technological advancements and innovations in phototherapy, patient monitoring and respiratory devices will further accelerate the expansion of the fetal and neonatal critical care equipment market and offer significant growth opportunities for the market."
- Chandradeep Singh
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Advanced Technologies and Continuous R&D Stimulate Market
The rising demand for new non-voltage, portable equipment and phototherapy units that offer natal and prenatal care across the globe, will positively impact the growth prospects of the market. Most people in developed countries opt for home care treatment post-surgery. Portable fetal and neonatal care equipment is more advantageous than conventional devices as they offer a stable micro-climate, easy sanitization, and close mother-child interaction. Some technological advancements include multifunctional fetal monitors that can provide information on heart rate, temperature, electrocardiogram (ECG) reading, and saturation of peripheral oxygen (SpO2) levels, colored ultrasound machines, continuous positive airway pressure (CPAP) devices, tracheostomy feeding tubes, and LED phototherapy units. Vendors are also focusing on the development of advanced devices for neonatal intensive care units (NICUs) and infants affected by respiratory disorders, infections, and other complications.
North America holds the dominant position in the growing demand for ECUs
North American region leads the fetal and neonatal critical care equipment market owing to growing awareness about neonatal and fetal care along with the increasing number of neonatal intensive care unit admissions within the region, and the presence of well-established healthcare facilities. Asia Pacific market is expected to be the fastest-growing regional market owing to government initiatives by developing countries such as India, China, and Japan and increased awareness of the importance of fetal and neonatal care. The European market is also accelerating due to the increasing incidence of premature childbirth and c-section deliveries causing childbirth complications. In addition, growing hospitals and government initiatives to decrease infant mortality rates fuel the market.
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Recent Strategic Developments
- In March 2022, Butterfly Network, Inc., a digital health company transforming care with handheld, whole-body ultrasound, received a grant for USD 5 million from the Bill and Melinda Gates Foundation to improve maternal and fetal health. Through this grant, Butterfly will provide 1,000 healthcare workers in Sub-Saharan Africa with Butterfly iQ+, the world's only handheld, whole-body point-of-care ultrasound probe.
- In February 2022, Philips expanded its ultrasound portfolio with advanced hemodynamic assessment and measurement capabilities on its handheld point-of-care ultrasound – Lumify, with the addition of Pulse Wave Doppler to enable clinicians to quantify blood flow in a wide range of point-of-care diagnostic applications, including cardiology, vascular, abdominal, urology, obstetrics, and gynaecology.
- In August 2020, Pulsenmore Ltd., an Israeli firm involved in the manufacturing and marketing of ultrasound devices, launched the tele-ultrasound device which was the first-ever self-administered ultrasound device that enables pregnant women to perform at-home ultrasound scans.
- In May 2020, Dragerwerk AG & Co. KGaA launched the Evita V600 and V800, as well as the Babylog VN600 and VN800, devices for acute care ventilation of adults and preterm babies.
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Report Details:
Number of Pages: 220
Number of Tables: 65
Number of Charts and Graphs: 45
Key Companies Covered
- Masimo
- Fisher & Paykel Healthcare Limited
- Phoenix Medical Systems (P) Ltd.
- Inspiration Healthcare Group Plc.
- Natus Medical Incorporated
- Utah Medical Products Inc.
- Medtronic
- GE Healthcare
- Dragerwerk AG & Co.KGaA
- Cardinal Health
- Koninklijke Philips N.V.
- Mead Johnson & Company, LLC
Key Report Takeaways:
- Estimation/projections/forecast for revenue (2022 – 2032)
- Data breakdown for every Industry segment (2022 – 2032)
- Gross margin and profitability analysis of companies
- Impact Of COVID-19 On Fetal and Neonatal Care Equipment Market
- Business trend and expansion analysis
- Competition analysis/market share
- Product Innovation Listing
- Client list and case studies
- Market entry strategy
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