Global Fetal and Neonatal Monitoring Market, by Product Type (Fetal Monitoring Devices (Heart Rate Monitors, Uterine Contraction Monitors, Pulse Oximeters, and Others (Fetal ECG, Doppler, and Continuous Monitors)) and Neonatal Monitoring Devices (Cardiac Monitors, Capnographs, Blood Pressure Monitors, Pulse Oximeters, and Others (X-ray, CT Scans, and MRI))), By Portability (Portable Monitoring Devices and Non-portable Monitoring Devices), by Method (Invasive Monitoring Devices, and Non-Invasive Monitoring Devices), By End User (Hospitals, Nursing Homes, Specialty Clinics, and Ambulatory Surgery Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) estimated to be valued at US$ 7,592.4 million in 2019 and is expected to exhibit a CAGR of 6.9% over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
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Fetal and Neonatal Monitoring Market – Impact of Coronavirus (Covid-19) Pandemic
The coronavirus disease 2019 (COVID-19) has spread rapidly across the world. With the sharp increase in the number of infections, the number of pregnant women and children with COVID-19 is also on the rise. Further, the U.S. is focusing on approvals of non-invasive and remote fetal and neonatal monitoring devices to reduce human to human contact hence, spread of coronavirus. For instance, in March 2020, the Nuvo Group announced that it has received 510(k) clearance from the U.S.FDA to market INVU, a wearable device that remotely monitors fetal and maternal heart rates. The device is prescription-only and is meant for use in the third trimester of pregnancy. The healthcare provider will schedule remote monitoring sessions, during which the patient wears the INVU sensor band to collect heart rate data. Measurements are accessible through a smartphone app and are also uploaded to a clinician dashboard for the healthcare provider.
Fetal and neonatal monitoring market is expected to witness significant growth, in terms revenue, owing to increasing launches of innovative products by the key players. For instance, in September 2015, the Nuvo-Group, a company committed to develop products and services that utilize cutting-edge technologies in field of pregnancy health and fetal monitoring, developed announced to develop two new pregnancy monitoring platforms at the Wearable Technology Show in London, U.K. Both the devices are not traditional fetal monitoring devices instead these devices are wirelessly connected to Bluetooth with smartphone application. PregSense is a wearable device for the continuous and accurate monitoring of vital pregnancy data. First product Sensa is targeted at consumers at home and the second product PregSense is medical-grade for professional use in fetal monitoring. Sensa was launched in the first quarter of 2016, and PregSense was launched in 2017.
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Furthermore, rising partnerships and collaborations among key players to launch and distribute new products in different regions, which is expected to drive growth of the fetal and neonatal monitoring market. For instance, in February 2015, AirStrip, a provider of mobile healthcare solutions entered into a strategic partnership with Telenatal to begin the distribution of its AirStrip’s Sense4Baby wireless fetal/maternal monitoring system in 13 European countries. AirStrip and Telenatal made Sense4Baby available in the Netherlands, Austria, Belgium, Denmark, France, Germany, Italy, Luxembourg, Norway, Spain, Sweden, Switzerland, and Turkey.
Moreover, the fetal monitoring device Sense4Baby received 510(k) clearance from the U.S. FDA and a CE certification mark from the European Commission in 2013 to commercialize this medical device in clinical settings. After the approval, in March 2014, Sense4Baby Inc. the developer of Sense4Baby was acquired by the company AirStrip to commercialize the product across the globe for better availability of fetal and neonatal monitoring devices in remote areas.
Browse 43 Market Data Tables and 23 Figures spread through 184 Pages and in-depth TOC on “Fetal and Neonatal Monitoring Market, by Product Type (Fetal Monitoring Devices (Heart Rate Monitors, Uterine Contraction Monitors, Pulse Oximeters, and Others (Fetal ECG, Doppler, and Continuous Monitors)) and Neonatal Monitoring Devices (Cardiac Monitors, Capnographs, Blood Pressure Monitors, Pulse Oximeters, and Others (X-ray, CT scans, and MRI))), by Portability (Portable Monitoring Devices, and Non-portable Monitoring Devices), by Method (Invasive Monitoring Devices and Non-Invasive Monitoring Devices), by End User (Hospitals, Nursing Homes, Specialty Clinics, and Ambulatory Surgery Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2027”
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Various companies are engaged in acquiring other players in the market to strengthen their product portfolio and enhance their market share in the fetal and neonatal monitoring market. For instance, in March 2017 GE Healthcare Life Sciences (a division of General Electric Company) acquired Monica Healthcare and its connected fetal monitor technology. Monica Healthcare is medical device company that developed a Bluetooth-connected fetal monitor called the Novii Wireless Patch System (which is General Electric Company’s product). It is a single-use patch monitors maternal heart rate, fetal heart rate, and uterine activity. Novii Wireless Patch System cleared the U.S. FDA approval in 2014. Through this acquisition General Electric Company entered into the fetal and neonatal monitoring market.
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Key Takeaways of the Fetal and Neonatal Monitoring Market:
- The global fetal and neonatal monitoring market is expected to exhibit a CAGR of 6.9% during the forecast period (2019-2027), owing to increasing FDA approvals and new product launches of fetal and neonatal monitoring.
- Among product type, fetal monitoring devices segment is expected to hold a major revenue share in 2027, owing to increasing regulatory approvals in the segment. For instance, in January 2017, MindChild Medical, Inc. received clearance for its Pre-marketing Notification (510(k)) from the U.S. Food and Drug Administration (FDA) for its MERIDIAN M110 non-invasive fetal heart monitor. The MERIDIAN M110 fetal monitoring system is an intrapartum fetal monitor that externally measures and displays fetal heart rate (FHR), maternal heart rate (MHR), and uterine contractions (UA) as well.
- Major players operating in the global fetal and neonatal monitoring market include Becton, Dickinson and Company, Fujifilm SonoSite Inc., Medtronic Plc, Dragerwerk AG & Co. KGAA, Cooper Surgical, Getinge AB, Natus Medical Incorporated, GE Healthcare, Siemens Healthcare GmbH, ArjoHuntleigh, Inc., Neoventa Medical, Koninklijke Philips N.V., Analogic Corporation, Spacelabs Healthcare Inc., Smiths Medical, and Masimo.
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