Fetal and Neonatal Care Equipment Market Emerging Trends, Demand, Revenue and Forecasts Research 2030
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Fetal and Neonatal Care Equipment Market
Overview
Market
Research Future (MRFR) speculates that the global fetal and neonatal care
equipment is predicted to register a CAGR of 8.1% during the forecast period (2022-2030). Newborn screening
programs offering numerous benefits are anticipated to favor the
market growth. Fetal and neonatal care equipment are generally used for
treatment and assessment of newborn babies and comprises devices which help to
monitor and diagnose both the mother and the fetus. The equipment
which helps to monitor, diagnose, and also treat newborn
babies are referred to as neonatal care equipment.
New
innovative devices launch and technological advancements in the Fetal and Neonatal Care Equipment
Market are
estimated to propel the market growth across the globe. Technological
advancements help to detect multiple compounds through neonatal dried blood
specimens. Right after the success of newborn screening in phenylketonuria,
prominent competitors are introducing brand new models with performance
improvements. With the launch of improved performance instruments of
the pulse oximeter and mass spectroscopy, the market is propelling at
a stellar rate. For instance, in September 2016, the launch of PerkinElmer’s
QSight 210 MD system uses tandem quadrupole analysis which offers faster
scanning, higher sensitivity, and robust screening.
The
fetal and neonatal care equipment is growing at a breakneck speed owing to
factors such as private and public initiatives in order to support
patient care coupled with the increasing number of neonatal care facilities
across the globe. Newborn screening programs (NBS) offer a
number of benefits such as it predicts whether the baby is at risk for
certain medical conditions, which further impacts the market growth positively.
Governments, as well as non-government organizations, are actively
focusing on providing better maternal and fetal care options
which are further contributing to the growth of the market. For
instance, the American Society of Hematology in June 2018 had led a
campaign in order to fight against sickle cell disease in the African
region and urged the Sub-Saharan Africa government to invest in
the newborn screening.
Market Segmentation
The
fetal & neonatal care equipment market has been segmented on the basis
of product, type, and end user.
By
mode of type, the global fetal and neonatal care equipment market has been
segmented into fetal pulse oximeters, fetal monitors, fetal MRI systems,
fetal ultrasound devices, and fetal doppler devices. Among these, the fetal
doppler devices are estimated to occupy a significant share owing to the rising
demand for digital dopplers over conventional dopplers. Also,
the increased launch of home-use products is fueling the
segment’s growth.
By
mode of product, the global fetal and neonatal care equipment market
has been segmented into neonatal phototherapy equipment, infant
warmers, convertible warmers & incubators, neonatal incubators, neonatal
monitoring devices, respiratory care devices, and neonatal diagnostic imaging
devices. Among these, the respiratory care devices are likely to occupy a
significant share owing to the high prevalence of respiratory distress among
the newborns.
By
mode of end-user, the market has been segmented into fertility
centers, hospitals & clinics, and others.
Regional
Analysis
The
fetal and neonatal care equipment market span across regions namely,
Europe, America, Asia-Pacific, and the Middle East & Africa.
Considering
the global scenario, the American region is considered to dominate the market.
The growth is credited to the rising R&D budgets by the commercial as well
as government biotechnological and pharmaceutical companies. Moreover, with the
surging adoption of advanced technologies, the market in this region is likely
to boost.
Europe
is predicted to occupy the second position due to the availability of
funding for research in the European nations along with the presence of strong
academic and research base.
The
Asia Pacific region is estimated to expand at the fastest rate due to the
increased neonatal population, improved healthcare infrastructure, and rising
mortality rate of neonates. For instance, as per data published by
UNICEF, the neonatal mortality rate was 24% in 2017 in India.
Competitive Dashboard
The
prominent players operating the global fetal and neonatal care equipment
market Players are Philips Healthcare, Fisher & Paykel Healthcare
Limited, Vyaire Medical Inc., Edan Instruments Inc., Toitu Co. Ltd., Masimo
Corporation, Phoenix Medical Systems Pvt. Ltd., Cardinal Health, Natus Medical
Incorporated, Arjo, Utah Medical Products Inc., Drägerwerk AG & Co. KGaA,
Medtronic Plc, GE Healthcare, Atom Medical Corporation, and others.
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