At 5.7% CAGR, Neonatal Intensive Care Market Size to Worth Around USD 2.49 Billion by 2028, Says Brandessence Market Research
LONDON, Sept. 1, 2022 /PRNewswire/ -- Neonatal Intensive Care Market is valued at USD 1.69 Billion in 2020 and anticipated to reach USD 2.49 Billion by 2027 with the CAGR of 5.7% over the forecast period. Increasing awareness about neonatal intensive care equipment and high birth rate in developing economies are some of the major factors driving the growth of Global Neonatal Intensive Care Market.
Neonatal Intensive Care Market By Product Type (Thermoregulation Devices, Phototherapy Devices, Monitoring Systems, Neonatal Hearing Screening, Neonatal Infant Resuscitator Devices, Vision Screening, Others), By End-Use (Hospitals, Nursing Homes, Pediatric& Neonatal Clinics), Industry Analysis, Trends, And Forecast, 2021-2027
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Neonatal Critical Care Market: Market Scope
The global neonatal critical care market is going to show a great amount of growth in the coming years. The expected to grow due to the higher prevalence of the neonatal jaundice and an increase in the number of the preterm births and the introduction of newer and more innovative products for the usage in neonatal intensive care units which is going to drive this market. The WHO has an estimate which suggests that over a million infants have premature birth each year and many of them die due to the preterm problem.
The newborn monitoring is among the most challenging roles and responsibilities. The development of better devices is going to be significant in the management of neonatal health issues. Manufacturers are now making major investments for keeping up with the increase in the demand for the neonatal critical care particularly the thermoregulation devices. neonatal intensive care market overview is presented below.
Neonatal Critical Care Market: Competitive Analysis
Some of the major Neonatal Critical Care Companies are Cardinal Health, Drägerwerk AG & Co. KGaA, Koninklijke Philips N.V, GE Healthcare, Medtronic, Vyaire, BD, Utah Medical Products, Inc., and Natus Medical Incorporation. Neonatal intensive care market forecast shows that the key players are trying to innovate in the products and ensure that the products get approved by the authorities. They are also working hard to secure the funding from the different authorities as well as on securing private funding from different private players.
- Becton
- Dickinson and Company (BD), R. Bard
- Philips
- Teleflex Incorporated
- Utah Medical
- Cook Medical
- Medtronic
- Braun Melsungen AG
- AngioDynamics, Inc.
- Vygon (UK) Ltd.
- others.
Neonatal Intensive Care Market: Key Drivers
The global neonatal critical care market growth is happening at a global rate which is characterized by a higher rate of the newborn jaundice. Furthermore, hyperbilirubinemia or jaundice is going to take place in many of the full-term infants within their life's first week. The phototherapy equipment has been employed as a major treatment against the neonatal jaundice and its increasing cases are having a major positive impact in this market.
When a baby gets born before the completion of the thirty-seven weeks of pregnancy, it is known as the preterm birth and then get admitted to NICU. It is estimated that the not-for-profit organizations among the total admissions, over half of the comprised preterm babies. Neonatal intensive care market demand increases due to this.
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Neonatal Critical Care Market: Segmentation Analysis
Neonatal intensive care market analysis suggests that the segmentation on the basis of type suggests that the respiratory equipment segment has been dominating the market with a one third share. The growth in the segment has been characterized by the increasing respiratory disorders which require the NICU admissions as well as the launch of the new products. There are different consortiums which are working on the development of different products which can help in the proper birth. Whereas, the thermoregulation equipment segment has been expected to show a major growth which is going to compound annually in the coming years. These kinds of devices also include the newborns incubators, radiant warmers, newborn cooling systems as well as others.
Furthermore, the infants in a respiratory distress get provided with the oxygen therapy or ambu-bag support during the transportation to the NIXU facility, that does not fulfill the clinical requirements of an infant. Sometimes, this leads to the death of the patients. The portable neonatal continuous positive airway pressure or the CRAP therapy system has been developed by the Coeo labs where they collaborate with doctors from the affordable medical technologies from the nations of Uganda and United States. This is done with the intention of providing the support to the neonates with the respiratory distress syndrome in the transportation.
For keeping the body temperature steady, the neonates with the cold stress or the hypothermia need an environment which is thermostable. The Hypothermia is one of the major causes of an infant illness as well as mortality as per the WHO. Therefore, the increase in the frequency of the hypothermia has seen a surge in the demand for the thermoregulation devices.
By Product Type
- Thermoregulation devices
- Phototherapy devices
- Monitoring systems
- Neonatal hearing screening
- Neonatal infant resuscitator devices
- Vision screening
- Others
By End-Use
- Hospitals
- Nursing homes
- Pediatric & neonatal clinics
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Neonatal Critical Care Market: Regional Analysis
When it comes to region, the North American market has dominated the Neonatal Intensive Care Market Size due to a demand for the technologically advanced products which ensure a better healthcare delivery for the newborns. The value-based healthcare model has been leading to a development of the better equipped NICU centers in addition to the increase in the number of approvals for the newborn care devices from FDA. Moreover, the launching and approval of the advanced and next generation devices in both the North American countries of the United States and Canada will be boosting the market.
European market is going to be expected to grow at an exceeding rate because of the increase in the frequency of the acquired infections among the newborn babies, growth in the hospital numbers and NICUs. Further, a great amount of population is suffering from the lower weight in the birth and an increase in number of the preterm births have been touted to surge the market in Europe. Asia Pacific on the other hand has been expected to see a great amount of growth in the coming years. This might be attributed to the higher number of new births apart from an increase in the expenditure which has been made on healthcare in the region. Further, the increase in the initiatives in the developing nations like India has been working on the growth of the industry.
On Special Requirement Neonatal Critical Care Market Report is also available for below region:
North America
- U.S., Canada
Europe
- Germany, France, U.K., Italy, Spain, Sweden, Netherlands, Turkey, Switzerland, Belgium, Rest of Europe
Asia-Pacific
- South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
Latin America
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
- Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA
Neonatal Critical Care Market: Key Trends
As per the CDC, it is estimated that every one out of ten infants are born prematurely. This is going to result in the increased admission in the NICU and the rising requirements for the NICU facilities. The private and public organizations are taking the initiative for increasing the availability for the NICUs in coping with requirements. There are many initiatives being taken up all over the world by the governments to help in such preterm deliveries. The monitoring devices are an important part of the newborn care equipment in NICU infrastructure. Therefore, the major manufacturers are now conducting the research and development for launching the innovative monitoring devices for NICU usage. There is equipment being made available to the different users and that is going to help the market grow considerably.
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