The global ”neonatal care equipment market” is expected to experience considerable growth backed by the increasing prevalence of neonatal disease and the growing investment in setting up facilities that is likely to propel the demand for advanced neonatal care equipment. Fortune Business Insights, published this information in its upcoming report, titled, “Neonatal Care Equipment Market Size, Share & Industry Analysis, By Product (Incubators, Monitoring Devices, Phototherapy Equipment, Respiratory Devices, Others), By End User (Hospitals, Neonatal Clinics, NICU, Others) and Regional Forecast, 2020-2027.”

The widespread effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been on a standstill with limited operational activities. However, a collective effort from the government as well as the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.

Neonatal care equipment are machines that are used to monitor the baby during birth. They are a special care equipment that are widely adopted to treat birth problems during premature birth or other health complications.

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DRIVING FACTORS

Increasing Prevalence of Neonatal Disease to Propel Market Growth

According to the World Health Organization, around 15 million babies are born pre-maturely across the globe. The increasing prevalence of neonatal disease is expected to drive the adoption of advanced neonatal care equipment to treat child birth defects. Additionally, the surging investment in the development of advanced neonatal care facilities globally is expected to contribute to the global neonatal care equipment market growth in the forthcoming years.

REGIONAL INSIGHTS

Medical Advancement in North America to Accelerate Growth

Among all the regions, North America is expected to remain at the forefront and hold the highest position in the global neonatal care equipment market in the forthcoming years. This is attributable to the presence of advanced medical care that is likely to drive the adoption of innovative neonatal care equipment in the region between 2020 and 2027.

The market in Asia-Pacific is likely to gain momentum owing to high demand for advanced neonatal facilities and the growing focus on providing optimum healthcare facilities in the region.

COMPETITIVE LANDSCAPE

Contract Signing by Key Players to Strengthen Their Market Positions

The global neonatal care equipment market is fragmented by the presence of key players that are focusing on receiving notable contracts to expand their advanced neonatal care equipment portfolio. Moreover, the other major companies are adopting inorganic and organic strategies to gain a major chunk of the market share during the forecast period.

Regional Analysis:

The global neonatal care equipment market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America followed by Europe dominated the global neonatal care equipment market in 2019, owing to the rise in prevalence of associated disease of neonates and higher investments for advancements in the NICU facilities. However, increasing patient pool suffering from associated disease and demand for effective neonatal care equipment in Asia Pacific is likely to accelerate the growth of the market in this regions. This along with setup of neonatal facilities in the developing countries to rise the value of neonatal care equipment market. Latin America and Middle East & Africa are projected to register a comparatively lower CAGR by the end of the forecast period.

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Industry Development:

  • November 2020 – Novant Health Presbyterian Medical Center (NHPMC) Foundation received a grant worth USD 43,563.13 from Brave Beginnings to purchase Drager Babyleo for its neonatal intensive care unit. The neonatal care equipment provides prompt delivery care and ensures better survival rate of infants.

List of the Companies Profiled in the Global Market for Neonatal Care Equipment:

  • BD
  • Medtronic plc.
  • GE Healthcare
  • Koninklijke Philips N.V
  • Drägerwerk AG & Co. KGaA
  • Natus Medical Incorporated
  • PHOENIX MEDICAL SYSTEMS PVT. LTD.
  • Others

What are the key segments in the market?

By Product

  • Incubators
  • Monitoring Devices
  • Phototherapy Equipment
  • Respiratory Devices
  • Others

By End User

  • Hospitals
  • Neonatal Clinics
  • NICU
  • Others

By Geography

  • North America (USA, Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

    With tables and figures helping analyse worldwide Global neonatal care equipment Market Forecast provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

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