Fetal and neonatal care devices consist of a variety of equipment that are designed to monitor and detect complications in newborn babies. The growth of the market 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 growth of the market.
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Various aspects such as delayed maternal age, induced fertility, and lack of proper prenatal care is 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 toward positive growth in the long term.
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Further Key Findings From the Study Suggest:
- North America holds the largest share in the fetal and neonatal care equipment market owing to the growing awareness about neonatal and fetal care along with increased number of neonatal intensive care unit (NICU) admissions
- Market growth will be limited by factors such as poor healthcare accessibility addressing proper neonatal care and decreasing birth rate in certain developed countries
- A larger share of the global market is held by the neonatal care equipment segment, and the fetal care equipment segment is anticipated to grow with a high CAGR during the forecast period
- The Asia Pacific region is projected to grow at the highest CAGR during the forecast period owing to aspects such as high birth rate in some Asia Pacific countries such as India & China along with rising awareness programs for the improvement of fetal care & neonatal care
- The major players in the global fetal and neonatal care equipment market include Becton, Dickinson and Company, GE Healthcare, Koninklijke Philips N.V, THE DRAGER GROUP, and Medtronic
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