The latest market report published by Credence Research, Inc. “Fetal and Neonatal Care Market – Growth, Future Prospects and Competitive Analysis, 2016 – 2024”, the global fetal and neonatal care market was valued at US$ 6,558.5 Mn in 2015, and is expected to reach US$ 9,868.1 Mn by 2024, expanding at a CAGR of 5.2% from 2016 to 2024.
Browse the full report Fetal and Neonatal Care Market – Growth, Future Prospects and Competitive Analysis, 2016 – 2024 at http://www.credenceresearch.com/report/fetal-and-neonatal-care-device-market
According WHO studies, every year nearly 41% of all under-five child deaths are among newborn infants, babies in their first 28 days of life or the neonatal period. The neonatal period is one of the most vulnerable periods for child’s health. According to WHO report, an estimated 15 million babies are born preterm (before 37 completed weeks of gestation) every year, and this number is rising. Some of the causes of the preterm birth are early induction of labour or caesarean birth, increase in maternal age, changes in lifestyle such as smoking, drinking, obesity etc. Fetal and neonatal equipment help in early diagnosis, monitoring, prevention and evaluation of disease for fetal and neonatal care. With increased awareness about neonatal care, government initiatives to provide better maternal and neonatal care, there is being an increase in demand for fetal and neonatal care equipment. Other key drivers are technological advancement and growth in affordability in both developed and developing economies.
The global fetal and neonatal care market is segmented by monitoring device type into fetal monitors that includes antepartum/external fetal monitors and intrapartum/internal fetal monitors; neonatal monitoring devices including blood pressure monitors, cardiac monitors, pulse oximeters, capnographs, integrated monitoring devices and respiratory assistance and monitoring devices. The fetal monitors segment currently dominates the overall fetal and neonatal care market.
For the purpose of this study, the global fetal and neonatal care market is also segmented by equipment type into fetal equipment and neonatal equipment. Fetal equipment market is further segmented into ultrasound and ultrasonography devices, fetal dopplers, fetal MRI systems and fetal pulse oximeters. Neonatal equipment market is further categorized into infant warmers, incubators, convertible warmer & incubators, phototherapy (conventional and fiber-optic) equipment and respiratory devices. The neonatal equipment segment currently dominates the overall fetal and neonatal equipment market.
Geographically, North America was identified as the largest market for fetal and neonatal care products in the base year 2015. North America dominated the market due to aging population, advanced sports medicine practices and rising initiatives for maternal and child care in the U.S. and Canada. Asia Pacific is the most attractive market for introducing advanced fetal and neonatal care devices due to the rapid development of healthcare infrastructure, increase in preterm birth and maternal age along with changes in lifestyle and labor treatment and rising disposable income in the countries like China, India, Australia and others.
Market Competition Assessment:
Key players in the global fetal and neonatal care market are:
Atom Medical Corporation, Analogic Corporation, Becton, Dickinson and Company, CareFusion Corporation, Cooper Surgical, Inc., Drägerwerk AG & Co. KGAA, Fisher & Paykel Healthcare Corporation Limited, FUJIFILM SonoSite, Inc., GE Healthcare, Getinge AB, International Biomedical, Medtronic Public Limited Company, Masimo Corporation, Natus Medical Incorporated, Nonin Medical, Inc., Philips Healthcare, Phoenix Medical Systems Pvt. Ltd., Siemens Healthcare GMBH, and others.
Key Market Movements:
- Many factors such as rise in number of preterm births, prevalence of hospital acquired infection, congenital diseases, increase in maternal age, changes in lifestyle are key the drivers for the growth of the market
- There is increased awareness of fetal and neonatal and maternal care, which has led to demand for fetal and prenatal monitoring, therapeutic and diagnostic devices
- Technological advancement along with accessibility and affordability of the currently available equipment in both developed and developing countries are add up to the demand for the fetal and neonatal market