Market Scope
Market Research Future (MRFR) expects the fetal and neonatal care equipment market to attain a growth rate of 6.8% from 2020 to 2027 (analysis period).
Primary Boosters and Restraints
The UNICEF/United Nations International Children's Emergency Fund reveals that close to 3.5 million infants died in their first month in the year 2017 worldwide. Preterm and babies born with low weight are prone to multiple health issues and therefore, need specialized care. With the disconcerting rise in such cases, fetal and neonatal equipment care is bound to note rampant demand in the years to come. Innovations in fetal and neonatal care equipment that have better features and functions, better bioinformatics analysis and improved chemistry should also spur the demand. Improvements in reimbursement policies with respect to low-risk and average pregnancies also enhances the market size.
Excessive burden of neonatal hospital-acquired infections and the mounting awareness regarding the latest neonatal care equipment could also boost growth rate of the global market between 2020 and 2027. Companies are constantly striving to develop advanced equipment to bolster their sales, in order to remain competitive in the global market. Most of these players also work on fostering their portfolios to fortify their market standings, while also launching new tools in the market.
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Market Segmentation
The market for fetal and neonatal care equipment has been divided into type, product, and end user.
The major types covered in the MRFR report are fetal pulse oximeters, fetal monitors, fetal MRI systems, fetal doppler devices and fetal ultrasound devices. The types of fetal monitors available in the market are intrapartum fetal monitors as well as antepartum fetal monitors.
Products listed in the market study include neonatal phototherapy equipment, Infant warmers, convertible warmers & incubators, neonatal incubators, neonatal monitoring devices, neonatal diagnostic imaging devices and respiratory care devices.
Fertility centres, hospitals & clinics, and others are the prominent end-users in the global industry.
Regional Status
The global industry has been regionally considered for Asia Pacific/APAC and MEA or Middle East & Africa coupled with the Americas as well as Europe.
The American market has procured the leading position, with the highest demand witnessed in Canada and the US. These countries are home to numerous well-established firms offering extensive ranges of fetal and neonatal care equipment and services. The region’s strong focus on delivering value-based medical care has given way to the development of sophisticated NICU centers. Meanwhile, the surge in the number of FDA approvals for fetal and neonatal care tools and equipment also benefit the American market.
Europe’s strong growth in the global market is the result of the exhaustive research and development activities carried out by leading companies. Government’s support as well as the availability of favorable reimbursement schemes also render significant market growth. Constant launch of technically advanced equipment and tests should encourage market expansion in the ensuing years as well.
Since several global players are gaining entry into Asia Pacific, sensing the host of lucrative opportunities, it is believed that the regional market will progress at the fastest rate in the years to come. On top of that, constant advancements in the healthcare sector, backed by rising investments and the surge in research activities carried out by local firms also enhance the growth potential of the APAC market. Growth in people’s per capita income and the soaring demand for well-equipped medical facilities present attractive opportunities as well.
Prominent Contenders
Utah Medical Products, Inc., Philips Healthcare, Toitu Co., Ltd., GE Healthcare, Edan Instruments Inc., Masimo Corporation, Fisher & Paykel Healthcare Limited, Arjo, Atom Medical Corporation, Cardinal Health, Drägerwerk AG & Co. KGaA, Natus Medical Incorporated, Phoenix Medical Systems Pvt. Ltd., Medtronic PLC, Vyaire Medical Inc. are the eminent firms active in the fetal and neonatal care equipment industry.
Latest Updates
May 2021
Medtronic has introduced Sonarmed airway monitor in the US market. This system makes use of the acoustic technology that helps detect endotracheal tube obstruction and assesses efficient proper tube positioning among neonates as well as infants needing invasive mechanical ventilation. The system has already been installed in a few number of hospitals.
May 2021
Researchers from the Boston Children's Hospital have teamed up with engineers from the Lawrence Berkeley National Laboratory to develop the Dream Warmer, which is a cost effective and reusable non-electronic warmer that prevents neonatal hypothermia. The combined team has carried out a study, which showed that infants who were treated with the warmer suffered from just 11 percent hypothermia rate as compared to 30 percent of infants that did not receive the treatment.
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