The global clinical perinatal software market is growing at a healthy pace and is expected to reach USD 294.60 million by 2023 from USD 166.43 million in 2016, at a CAGR of 7.2% during the forecast period 2017-2023.
The clinical perinatal software monitor the health of the fetus and pregnant women. It provides information about any complexity that may arise during the prenatal period, which helps to minimize the problems during the pregnancy. Increasing awareness and a rising birth rate & post-date pregnancy drive the market. Furthermore, increasing healthcare expenditure, continuous development in technology, and increasing government support for research & development have fuelled the market growth. On the other hand, complex user interface and high cost of the software may slow the market growth over the assessment period.
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Global Clinical Perinatal Software Market – Competitive Analysis
General Electric, Edan Instruments, Inc., Huntleigh Healthcare Limited, KONINKLIJKE PHILIPS N.V, K2 Medical Systems, PeriGen, Inc, Cerner Corporation, Trium Analysis Online, are some of the prominent players at the forefront of competition in the Global Clinical Perinatal Software Market and are profiled in MRFR Analysis.
A limited number of industries are working in the development of clinical perinatal software. Through extensive research, it is found out that the market players have adopted the strategy of development of innovative & advanced software, and acquisition. Since the many companies present in the market are privately held, the financial information of some of the companies is not available in the public domain. On the basis of the market study, we found some key players operating in this market: GE Healthcare, Edan Instruments, Inc., Huntleigh Healthcare Limited, KONINKLIJKE PHILIPS N.V, K2 Medical Systems, and Cerner Corporation.
KONINKLIJKE PHILIPS N.V is one of the leading players in the market with a huge global presence and over 114,000 employees. The company has a significant presence in the Americas, Europe, and Asia Pacific and its research and manufacturing units are present in over one dozen countries.
Many leading players are concentrated in the Americas owing to well-established market and high healthcare expenditures; these players have expanded their market in other region as well. Furthermore, the companies such as K2 Medical Systems, Edan Instruments, and Huntleigh Healthcare Limited are well-established in European market. The major 2 players namely GE Healthcare and KONINKLIJKE PHILIPS N.V account for 52.9% share of the global clinical perinatal software market.
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There has been development in the software by various others companies such as K2 Medical Systems in May 2017 launched the INFANT-Guardian that provides the full electronic patient information during the time of childbirth. Furthermore, in April 2017 the company PeriGen launched the first electronic perinatal dashboard to identify patients having critical conditions. These developments by the players is further influencing the growth of the market.
Global Clinical Perinatal Software Market – Regional Analysis
The global Clinical Perinatal Software market is segmented into four different regions namely; The Americas, Europe, Asia-Pacific (APAC), and Middle East & Africa (MEA).
The Americas account for the major share of the market owing to the well-developed technology, increasing birth rate, high healthcare expenditure and the presence of the leading players. People in this region focus more on the health, which leads the market development. According to Centers for Disease Control and Prevention, in 2011, there were approximately 3.95 million births in the United States which will continuously increase in coming future. According to the World Health Organization (WHO), 32% of all deliveries in America was cesarean. Use of clinical parental software ensures the safety of the mother and the baby. Increasing number of cesarean delivery and high spending on the healthcare have driven the growth of the market. In addition to this, increasing government support for the development of the advanced devices and increasing awareness about health education have driven the market growth of America.
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Europe accounts for the second largest market, which is followed by Asia Pacific. Asia Pacific is the fastest growing market for the clinical perinatal software market. Increasing need for better diagnostic methods, rapidly changing healthcare sector, and presence of huge opportunities for the development of this market have paved way for the market growth. According to the World Bank in 2015, the birth rate of China was 1.57 per woman and the births rate was increased by 7.9% in 2016. On the other hand, the birth rate of India was 2.40 in 2015. Increasing birth rate and rising healthcare spending have driven the market in this region.
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