Fetal and Neonatal Care Equipment Research Report: by Type (Fetal Monitors, Fetal Pulse Oximeters), by Product (Infant Warmers, Neonatal Phototherapy Equipment, Neonatal Incubators, Convertible Warmers & Incubators), by End User – Global Forecast Till 2023
Market Scenario : Fetal and Neonatal Care Equipment Market
Market Research Future (MRFR) proclaims that the global fetal and neonatal care equipment is predicted to garner 6.8% during the forecast period (2018-2023).
The surging number of neonatal care facilities is influencing the market growth. Fetal and neonatal care equipment can be described as a type of medical device category with the help of which doctors and physicians can continuously care and monitor the infants. These devices are specifically built to feed the babies medicine, check the blood pressure level, draw fluids and blood, and also treat a number of diseases.
Market Potential and Pitfalls
The fetal and neonatal care equipment market is gradually experiencing a thrust owing to initiatives undertaken by the private and public sector in order to support patient care. The growing number of neonatal care facilities across the world has highly influenced the market globally. Governments from several regions are undertaking a lot of initiatives in order to raise awareness regarding new-born screening and the benefits associated with it. Several non-government and government organizations are highly focusing on providing better maternal and fetal care options which are considered to contribute to the market worldwide. For instance, the American Society of Hematology led a campaign in June 2018 in order to fight against sickle cell and also urged the government of Sub-Saharan Africa to invest in the screening of new-born diseases.
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With the advancing technology and launch of innovative devices in the fetal and neonatal care equipment market, the market is likely to gain impetus during the appraisal period. Technological advancements help to detect multiple compounds through neonatal dried blood specimens. Right after the success of newborn screening in phenylketonuria, prominent competitors across the globe are investing in the innovation to introduce and develop the latest models with improved performance. The launch of improved performance instruments of pulse oximeters and mass spectroscopy are estimated to encourage the market growth globally. For instance, in September 2016, the launch of PerkinElmer’s QSight 210 MD system which used tandem quadrupole analysis offered regular robust screening besides faster scanning and higher sensitivity. Such factors are estimated to foster the market during the appraisal period.
On the contrary, the surging preference for refurbished diseases throughout the developing economies is considered to vitiate the market growth across the globe. Moreover, the lower birth rate, especially in the established economies coupled with the presence of too many fragmented players, is estimated to limit the market growth in the long run.
The prominent players operating in the fetal and neonatal care equipment market comprises Fisher & Paykel Healthcare Limited, Toitu Co. Ltd., Phoenix Medical Systems Pvt. Ltd., Drägerwerk AG & Co. KGaA, Masimo Corporation, Edan Instruments Inc., Arjo, Atom Medical Corporation, Philips Healthcare, Utah Medical Products Inc., Natus Medical Incorporated, Cardinal Health, Medtronic PLC, Vyaire Medical Inc., GE Healthcare, and others.
Global Fetal and Neonatal Care Equipment Market: Segmental Analysis
The fetal and 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 dopplers segment is considered to command the fastest growing market owing to the increased demand for digital dopplers over conventional dopplers along with the rising launch of home-used products.
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 neonatal monitoring devices are estimated to gain prominence due to constant technological advancements and improvements in connectivity and ease-of-use in home settings.
By mode of end-users, the global fetal and neonatal care equipment market has been segmented into fertility centers, hospitals & clinics, and others. Among these, the hospitals & clinics segment is estimated to gain significant prominence in the coming years owing to the large R&D capabilities along with the requirement to house the most technologically advanced equipment in order to ensure better reimbursement.
Fetal And Neonatal Care Equipment Market : Regional Insights
Geographically, the fetal and neonatal care equipment market span across regions namely, Europe, Asia-Pacific, and the Middle East & Africa.
Considering the global scenario, the American region is predicted to dominate the fetal and neonatal care equipment market due to the presence of prominent market players coupled with high domestic income. An increase in the neonatal population is considered a major fueling factor to the growth of the new-born screening market. As per data published by the CDC, there were around 3,945,875 births in the U.S. in 2017.
The European region is considered to acquire the second spot owing to the presence of strong academic and research base coupled with the high availability of funding for research in the countries of this region. For instance, the ERC grants scientific and technological research conducted within the European Union.
The Asia Pacific region is likely expand at the fastest rate due to an increased birth rate coupled with the surging focus of prominent players in this region. Moreover, the rising mortality rate of neonates and improving healthcare infrastructure are highly contributing to the market growth.
March 07, 2018: Amref Health Africa and GE have decided to develop joint ventures which target to improve primary and referral care with a focus on limiting infant mortality and preventable maternal.
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