Fetal Monitoring Devices Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2746
Fetal Monitoring Devices Market size is projected to experience significant growth from 2018 to 2024.
Fetal monitoring devices market size is expected to witness significant growth due to increase in number of births and birth defects. According to The World Counts, around 130 million babies are born every year across the world and this number is expected to rise over the period of time. Use of fetal monitoring devices to check the health condition of the fetus will lead to business growth in the near future.
Improvement in healthcare infrastructure and facilities in the developing regions of Asia Pacific and Latin America will lead to fetal monitoring device industry growth. Since past few years, improvement in healthcare infrastructure has been driven by private organizations in Asia focusing majorly on increasing affordability and accessibility of services. Enhanced infrastructure in turn will result in provision of proper prenatal care with the help of fetal monitoring devices adoption.
The technological advancements in fetal monitoring devices will propel the business growth in upcoming years. According to World Health Organization (WHO), every year around 1 million babies die during birth across the world and many of them are preventable with the help of timely detection of complications using advanced fetal monitoring devices. Enhancement in new fetal monitoring devices will increase the product demand resulting in boosting the industry growth.
High cost of the fetal monitoring devices and expensive maintenance will be one of the major growth restraining factor. The high cost of the device will lead to affordability issues in hospitals in developing regions and the use of expensive device will result in high treatment cost. Also, the expensive maintenance of the devices will increase the total operating cost of the device resulting in decrease in adoption rate.
Increasing use of doppler ultrasound in order to routinely monitor the fetal movement in women’s womb will augment the segment growth. The use of doppler ultrasound to assess the placental and fetal blood circulation will increase the frequency of fetal monitoring device usage.
More recently, the increasing use of technologically advanced portable fetal monitoring device or wireless fetal monitor will drive the segment growth in the near future. According to recent study, the majority of medical professionals and pregnant women found the portable technology to be highly desirable and acceptable. The recent technological advancements will result in increase the adoption rate of portable fetal monitoring devices.
Intrapartum monitoring is estimated to show lucrative growth in the upcoming years. Intrapartum fetal monitoring is the most common activity carried conducted by obstetrician. Continuous fetal monitoring during the labor to identify infant risks and complications will increase the use of intrapartum monitoring resulting in boosting the industry growth.
Non-invasive fetal electrocardiography (FECG) business is expected to witness considerable growth in the forecast timeframe. It helps in measuring electrical activity of fetal heart using electrodes. It is comparatively less expensive, non-invasive procedure and can only be used during labor giving it an added advantage over other fetal monitoring procedures.
Hospitals business is anticipated to show significant amount of growth in the forthcoming years. The majority of the deliveries take place in hospitals and also, the required facilities and services are predominantly provided at the hospitals as compared to other healthcare facilities. The aforementioned factors will be responsible for the business growth in the future.
U.S. fetal monitoring devices market will drive the North American industry growth, owing to technologically advanced healthcare infrastructure, favorable reimbursement policies, awareness among the population regarding fetal health and prenatal care. According to WHO, around 4 million new births take place in U.S. and almost every pregnant women undergoes proper fetal monitoring to check the physical condition of the baby and other complications.
Some of the key players are Analogic Corporation, ArjoHuntleigh, Covidien PLC, FUJIFILM SonoSite, GE Healthcare, Natus Medical, Neoventa Medical, Philips Healthcare, Siemens Healthcare, Spacelabs Healthcare. The companies focus majorly on new product development and new product launches as their prime strategies for the purpose of market expansion. In March 2017, GE Healthcare announced its acquisition of Monica Healthcare, that makes Bluetooth based fetal monitoring system called Novii Wireless Patch System.
Fetal Monitoring Devices Market by Product, 2013-2024 (USD Million)
- Telemetry solutions
Fetal Monitoring Devices Market by Portability, 2013-2024 (USD Million)
Fetal Monitoring Devices Market by Application, 2013-2024 (USD Million)
- Antepartum monitoring
- Intrapartum monitoring
Fetal Monitoring Devices Market by Method, 2013-2024 (USD Million)
Fetal Monitoring Devices Market by End-use, 2013-2024 (USD Million)
- Nursing Home
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Analogic Corporation
- Covidien PLC
- FUJIFILM SonoSite
- GE Healthcare
- Natus Medical
- Neoventa Medical
- Philips Healthcare
- Siemens Healthcare
- Spacelabs Healthcare
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