Number of pages: 100 | Report Format: PDF | Published date: 28 January, 2022
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021-2031
The global neonatal & fetal (labor & delivery) care equipment market was pegged at US$ 7.11 billion in 2020 and is expected to witness a CAGR of 5.5% during the forecast period.
Neonatal intensive care units (NICU) provide specialized care and treatment for premature babies. These units have well-trained nurses, doctors, and neonatal specialists that deal with newborn care. Different hospitals come with different levels of a NICU. The most common devices or systems used in NICU are incubators, cardiorespiratory monitors, blood pressure monitors, pulse oximeters, temperature probes, and IV lines, among others. NICU admissions are very common as the rate of premature births is increasing.
Fetal care units are dedicated risk infant specialty delivery units for healthy mothers whose infants might require intensive and critical care after birth. Babies that are diagnosed with fetal health syndrome require special care and this care is provided in fetal and neonatal care units. The fetal care professionals perform a range of prenatal testing and fetal interventions that help diagnose infants with any abnormalities.
The global neonatal care equipment and fetal (labor & delivery) care equipment market is mainly driven by the rising number of births of premature babies coupled with an increasing number of neonatal and fetal care facilities across the globe. Moreover, growing funding from public-private organizations, technological advancements, and new product launches are also playing a pivotal role in propelling the growth of the neonatal care equipment and fetal (labor & delivery) care equipment market. However, the high cost of advanced neonatal equipment and increasing preference for refurbished systems in emerging countries are likely to restrain the market growth to a certain extent.
The global neonatal & fetal (labor & delivery) care equipment market has been analyzed from three perspectives: Product Type, End-User, and Region.
Neonatal & Fetal (Labor & Delivery) Care Equipment Market by Product Type
Based on the product type, the neonatal & fetal (labor & delivery) care equipment market has been segmented into neonatal care equipment and fetal (labor & delivery) care equipment. The neonatal care equipment market is further sub-segmented into neonatal incubators, infant warmers, convertible warmers & incubators, neonatal monitoring devices, neonatal diagnostic imaging, and neonatal phototherapy equipment. Fetal (labor & delivery) care equipment is further bifurcated into fetal monitors, fetal ultrasound devices, fetal MRI systems, fetal Doppler devices, and fetal pulse oximeters. In the neonatal care equipment segment, neonatal incubators held the largest market share. One of the major factors driving the growth of the neonatal incubators market is the rising incidence of neonatal hypothermia.
Neonatal & Fetal (Labor & Delivery) Care Equipment Market by End User
Based on end-user, the market has been segmented into hospitals & clinics, diagnostic centers, and other end users. Hospitals & clinics held the largest market share in the neonatal & fetal (labor & delivery) care equipment market. The large share of this segment can be attributed to the increasing number of premature births that has led to the growing need for neonatal admissions as well as growth in the availability of advanced neonatal & fetal care equipment in hospitals.
Neonatal & Fetal (Labor & Delivery) Care Equipment Market by Region
Based on the region, the global neonatal & fetal (labor & delivery) care equipment market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America held the largest market share in the global neonatal & fetal (labor & delivery) care equipment market. Factors contributing to the growth in this region include the presence of well-developed healthcare infrastructure, a rising number of preterm babies, and a well-equipped NICU center. Moreover, technological advancements and increasing FDA approvals for neonatal equipment have also played a key role in driving the growth of the neonatal & fetal (labor & delivery) care equipment market in this region.
Some of the prominent players operating in the global neonatal & fetal (labor & delivery) care equipment market includes:-