Fetal (Labor & Delivery) and Neonatal Care Equipment Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2731
Fetal (Labor & Delivery) and Neonatal Care Equipment Market size is projected to experience significant growth from 2018 to 2024.
Rising number of infant deaths and deformed babies will stimulate the need for neonatal and fetal care equipments. Similarly, number of still-births as well as mortality rate are also increasing tremendously. According to an article published in the book ‘Delivery and Immediate Neonatal Care’, around 29 million babies die just within 28 days post birth annually with equal number of still-births. These factors will facilitate rapid market growth during projected timeframe.
Increase in number of child births globally along with rise in need for special care for women as well as new born care will positively impact industry growth. According to Our World in Data (OWID) statistics, there were 141 million child births in 2015, that will substantially foster expansion of market share. In addition, as per WHO out of 30 million pregnancies in Africa, around 250,000 women die due to complications related to pregnancies. Thus, fetal and neonatal care equipment will witness a considerable growth due to need for safe delivery as well as incubation. Growing efforts to improvise labor and delivery supplies and equipments is set to stimulate market growth in foreseeable future.
Accelerating rate of hospital-acquired infections (HAI) in neonatal intensive care unit (NICU) is a major factor that will influence business growth in upcoming years. For instance, according to John Hopkins Children’s Centre, infection rate of healthcare associated infections in NICU is 7-13%. Use of proper, well-sterilized and disinfected fetal & neonatal care equipment can potentially reduce the risk of HAIs in NICU. Also, requirement of proper neonatal care is of utmost importance to overcome risk of HAIs. These factors should increase adoption rate of fetal and neonatal care equipment over the forecast timeframe.
However, high cost of advanced equipments as well as stringent regulatory approval scenario can significantly impede market growth. Additionally, unsatisfactory accessibility to sophisticated fetal and neonatal care equipments in developing countries may threaten business growth in forthcoming years.
Neonatal care equipment segment will contribute a remarkable revenue share due to rising number of deformities coupled with increasing number of still births. Increasing demand along with collaborations for high-quality neonatal equipments will further boost segment growth. Increasing efforts of government to upgrade existing equipment and supplies specifically in NICU to prevent preterm births will act as a high impact rendering factor, thereby augmenting rise in segmental share.
Fetal care equipment will witness growth at an excellent CAGR owing to technological advancements coupled with rising demand for fetal care equipments. For instance, in 2018, experts from Shenzhen Institutes of Advanced Technology have designed and developed specialized coil for quick and precise imaging of congenital abnormalities and diseases. Moreover, increasing birth rate will compel demand for fetal monitoring equipment. Aforementioned factors will foster fetal care segmental growth during the forecast period.
U.S. fetal (labor & delivery) and neonatal care equipment market due to large number of preterm child births in the nation. According to Stanford Children’s Health, 0.5 million babies in U.S. are preterm that needs specialized care and facilities. Moreover, technological advancement coupled with high disposable income leading to greater adoption of these equipments will flourish business growth in U.S. in forthcoming timeframe.
Asia Pacific will offer lucrative growth opportunities to fetal and neonatal care equipment market. China fetal (labor & delivery) and neonatal care equipment industry will show remarkable growth owing to rapidly accelerating birth rate coupled with technological advancement of equipments. In addition, growing awareness and availability of equipments in countries such as China will favor significant growth of business, thereby propelling industry growth in upcoming timeline.
The prime industry competitors of the fetal (labor & delivery) and neonatal care equipment market include Atom Medical, Becton Dickinson and Company, Drägerwerk, Fisher & Paykel Healthcare, GE Healthcare, Masimo, Medtronic, Natus Medical, Philips Healthcare and Phoenix Medical Systems. The companies make use of strategies such as new product development and acquisitions for attracting sustainable profits and growth in competitive market. For instance, in May 2017, Fisher & Paykel Healthcare introduced F&P Optiflow Junior 2, an infant cannula for nasal high flow therapy. This product launch will assist the company in expanding its product portfolio, thereby increasing its customer base.
Fetal (labor & delivery) and neonatal care equipment market by type, 2013-2024 (USD Million)
- Fetal Care Equipment
- Ultrasound Devices
- Fetal Dopplers
- Fetal MRI Systems
- Fetal Monitors
- Fetal Pulse Oximeter
- Neonatal Care Equipment
- Infant Warmers
- Convertible Warmers & Incubators
- Phototherapy Equipment
- Respiratory Devices
- Neonatal Monitoring Devices
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Atom Medical
- Becton, Dickinson and Company
- Fisher & Paykel Healthcare
- GE Healthcare
- Natus Medical
- Philips Healthcare
- Phoenix Medical Systems
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