The size of the Prenatal and Neonatal Equipment Care Market in Asia-Pacific was worth USD 2.35 billion in 2022 and estimated to be growing at a CAGR of 6.8%, to reach USD 3.26 billion by 2027.
The Increasing prevalence of preterm births with the low weight deliveries is majorly driving the prenatal and neonatal equipment care market in the APAC region. In addition, other factors such as rising disposable income and infrastructural developments in the healthcare sectors in the region are significantly contributing to the prenatal and neonatal equipment care market growth.
On the other hand, as preterm births are one of the primary concerns associated with many problems and fast urbanization fuels market growth, there is an increased awareness of prenatal and neonatal equipment care. The growing demand for prenatal and neonatal equipment care in the market is majorly due to an increase in the increasing percentage of working women as well as rising congenital and pregnancy problems, which is mainly because of constant changes occurring in the environment and lifestyle and adapting those changes as sedentary lifestyle, physical inactivity, smoking, alcoholism are the reasons that are driving the market growth of the prenatal and neonatal equipment care.
The rise in investment and funding from government and private firms in research activities for developing effective equipment to provide better care for prenatal and neonatal infants is expected to encourage market growth. Also, the increasing advancements in the technology for developing effective devices and efficient products that helps in monitoring and diagnosis of prenatal and neonatal babies with the increase in initiatives for developing well-established medical and health care facilities are expected to accelerate the prenatal and neonatal equipment care market in the APAC region.
However, the lack of awareness among the people about prenatal and neonatal equipment care and the high cost of equipment and products are hampering the market growth. Also, the strict government rules and regulation for introducing the product in the market with stringent and tedious approval process affects the market growth of the Asia-Pacific prenatal and neonatal equipment care market. In addition, the poor availability of proper neonatal care equipment and product with inadequate medical and health care facilities in some countries is limiting the market growth.
This research report on the APAC prenatal and neonatal equipment care market has been segmented and sub-segmented into the following categories:
By Product Type:
The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period due to reasons such as increasing participation of several private & public establishments to organize awareness programs and rising birth rate in this region. India is the largest market for Prenatal and Neonatal Equipment Care in this region followed by China. Indonesia, Vietnam, and Malaysia are some of the promising players in this market. Ultrasound and ultrasonography devices hold the largest market share in the prenatal and fetal equipment market in this region.
In this region, India shares the most significant market followed by China, as every year in India, 27 million infants are born, out of which 3.6 million infants are born preterm, and over more than three lakhs of these preterm infants die due to associated health problems and infections which is increasing the demand for the prenatal and neonatal equipment care in the market.
Other countries such as Japan, Australia has seen substantial growth in the market due to increasing initiatives and investment from government and private firms in research activities as well as the initiatives for raising awareness about prenatal and neonatal care and also by developing well-established medical and health care facilities contribute to the market growth.
KEY MARKET PLAYERS:
A few of the notable companies operating in the APAC prenatal and neonatal equipment care market profiled in the report are CareFusion Corporation, Covidien PLC, Drägerwerk AG & Co. KGaA, Cooper Surgical, Inc., FUJIFILM SonoSite, Inc., GE Healthcare, Getinge AB, Fisher & Paykel Healthcare Limited, Natus Medical Incorporated, Philips Healthcare, Siemens Healthcare, Nonin Medical, Inc., and Smiths Medical.
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