Neonatal Intensive Care Market Outlook, Demand, Opportunities, Key Players and Forecast to 2032
Neonatal Intensive Care Market
The Neonatal Intensive Care Market Share is supposed to enlist a CAGR 4.99% during the gauge time of 2023-2032 with an expected market worth of 15.3 Billion out of 2032.
The global neonatal intensive care market is mainly driven by the growing awareness about infant mortality and the growing efforts from governments to bridge the gap between supply and demand in order to reduce infant mortality. Major players in the global neonatal intensive care market are profiled in the report in order to provide readers with a detailed view of the market, including the successful strategies used by leading players in the market. Major drivers and restraints of the neonatal intensive care market are also described in the report in great detail, including information on the macroeconomic factors working in the background.
The neonatal intensive care market is mainly driven by the increasing incidence of infant mortality. Due to poverty and unavailability of advanced medical care, many developing regions suffer from high rates of infant mortality, leading to widespread concern. This has led to the rapid growth of the healthcare sector in regions such as Asia Pacific, where nations with sufficient economic power to make proactive decisions in order to reduce infant mortality. This has led to a growing volume of construction of healthcare agencies such as hospitals and neonatal care units. The growing population in regions such as India, China, and the rest of Southeast Asia is also a major driver for the neonatal intensive care market in the region.
Neonatal Intensive Care Market Outlook and Analysis By Product (Warmers and Incubators), By Type (Monitoring Devices, Respiratory Devices, Phototherapy Equipment, and Others), By Application (Neonatal Hypothermia & Low Birth Weight, Jaundice, and Others), By End User (Hospitals, Maternity Hospitals, and Neonatal & Pediatric Hospital), and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2032.
Major Key Players:
Some of the Neonatal Intensive Care Market Players are B. Braun Melsungen AG, DRE Medical, Digicare Biomedical Technology Inc., Henry Schein, Jorgensen Labs, Medtronic, Midmark Corporation, Patterson Companies, Inc., Smiths Group plc, and Vetland Medical Sales & Services.
Segment Analysis
The neonatal intensive care market’s segmental analysis provides a detailed understanding of the market that helps in identification of new growth windows and assists in preparing proper strategies to trigger the market growth. The neonatal intensive care market study has been segmented into product and end user.
On the basis of product, the market has been segmented into phototherapy equipment, catheters, convertible warmer and incubators, incubators, respiratory devices, infant warmers, neonatal monitoring devices, and others. Electric infant warmers and non-electric infant warmers are classified under the infant warmers segment. The neonatal monitoring devices segment has been further narrowed down to blood pressure monitor, pulse oximeters, capnographs, cardiopulmonary monitor, and others.
On the basis of end-use, the neonatal monitoring devices market has been segmented into childcare and clinics, hospital and others.
Regional Analysis
The market in the Americas is expected to dominate the global Neonatal Intensive Care market during the forecast period. The rising prevalence of congenital disorders in new-born, increasing neonatal population and government support are driving the growth of the market in the Americas. According to a data published by the Centers for Disease Control and Prevention (CDC) in November 2018, congenital heart defects (CHDs) affect approximately 1% or about 40,000 births per year in the US.
Europe showed a considerable amount of growth in the global neonatal intensive care market. The market growth in this region is because of the presence of a well-established healthcare system and increase in insurance coverage for pets. Also, technological advancements in the industry and government support in terms of National Health Service and health insurance are expected to drive the market growth.
Asia-Pacific is estimated to be the fastest growing region in the market due to increased pet adoptions and rise in the number of animal welfare programs.
On the other hand, the Middle East & Africa has the least share of the market due to the low disposable income. According to the American Society of Hematology (ASH), it led a campaign to fight sickle cell disease in Africa in June 2018. It also urged the governments, particularly in sub-Saharan Africa, to invest in new-born intensive care units for the betterment of the neonates.
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