The global Fetal And Neonatal Care Equipment Market size is expected to reach USD 10.6 billion by 2026 expanding at a CAGR of 6.9%, based on a new report by Grand View Research, Inc. Fetal and neonatal care devices consist of a variety of equipment that are designed to monitor and detect complications in newborn babies. The market growth can be attributed to factors such as a growing birthrate in developing countries coupled with rising prevalence of associated premature births also known as preemies.
Furthermore,
neonatal hospital-acquired infections such as Central Line-Associated
Bloodstream Infections (CLABSI) and healthcare-associated pneumonia are
additional notable factors responsible for the market growth. Various aspects
such as delayed maternal age, induced fertility, and lack of proper prenatal
care are considered to be major factors contributing to the birth of premature
babies.
According
to the WHO estimates, 15 million neonates are born annually and a million were
reported to die from preterm birth complications in 2015. To address the
complications associated with babies born prematurely, the demand for fetal and
neonatal care equipment is expected to rise significantly. In addition,
consequences of supportive government policies coupled with rapid technological
advancements in modern fetal and neonatal medical equipment is expected to
contribute for growth in the long term.
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Fetal
And Neonatal Care Equipment Market Report Highlights
- Fetal care
equipment accounted for the largest share of the market in 2018, however
neonatal care equipment is expected to grow at a rapid rate during the
forecast period.
- Increasing
complications during birth, increasing number of separate facilities for
fetal & newborn care, and technological advancement in the fetal &
neonatal care field are the key driving factors of the market. For
instance, in February 2019, the University of Chicago Medicine launched
Fetal and Neonatal Care Center (FNCC). The center offers one stop access
to various specialists.
- North
America held the largest share in the fetal and neonatal care equipment
market in 2018 due to the high awareness about neonatal and fetal care
along with large number of neonatal intensive care unit (NICU) admissions.
- The Asia
Pacific region is projected to grow at the highest rate during the
forecast period owing to aspects such as high birth rate in some Asia
Pacific countries such as India & China and rising awareness programs
for the improvement of fetal care & neonatal care.
- In July
2013, largest Neonatal Intensive Care Unit in Southeast Asia became
operational in Singapore. The facility is equipped with advanced equipment
and technology.
- The major
players operating in the global fetal and neonatal care equipment market
include Becton, Dickinson and Company, GE Healthcare, Koninklijke Philips
N.V, THE DRAGER GROUP, Natus Medical Incorporated, Masimo Corporation, and
Medtronic.
- Mergers
& collaborations and product development are the key strategies being
undertaken by the market players. For instance, in June 2019 Clinical
Computer Systems, Inc. entered into an agreement with Huntleigh Healthcare
Limited to commercialize OBIX BeCA, a fetal monitor, in the U.S.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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