The global prenatal and neonatal equipment care market size is estimated to grow to USD 11.22 billion by 2028 from USD 8.27 billion in 2023, growing at a CAGR of 6.30% from 2023 to 2028.
Prenatal and neonatal equipment care is for premature babies with an underdeveloped immune system, lungs, skin, and digestive tract. The birth rate of premature babies is continuously increasing and is highly frequent across the world. Therefore, equipment such as incubators is highly adopted for babies born in less than the gestation period, which is usually 37 weeks.
The growing prevalence of birth of children with low weight and preterm infants is majorly promoting the global prenatal and neonatal equipment care market.
A continually growing percentage of working women, the emergence of advanced healthcare systems due to technological advancements, and rapid urbanization from the past decade further boost the market's growth rate. Also, factors such as increasing disposable income, increasing healthcare expenditure, increasing awareness among people about maternal healthcare, and a rise in demand for prenatal therapeutics and diagnostics are catalyzing the growth of the global prenatal and neonatal equipment care market. Intensive focus on initiatives from private and public organizations for developing advanced monitoring systems and devices for effective care of expecting women and premature infants is anticipated to create more growth opportunities for the key players in the market during the forecast period. Increasing urbanization with growing awareness in the population about prenatal and neonatal health concerns is expected to offer growth opportunities for the stakeholders in the global prenatal and neonatal equipment market during the forecast period. In addition, the emergence of novel and innovative equipment for prenatal and neonatal healthcare is supposed to create growth opportunities for the immunoassay market stakeholders.
The significant factors that are restraining the growth of the prenatal and neonatal equipment care market are adopting a sedentary lifestyle, enforcement of stringent laws by various governments to control population rate, the declining price of birth rates due to women empowerment leading to an increased number of employed women across the world.
Impact of COVID-19 on the global prenatal and neonatal equipment care market:
The spread of the new coronavirus (COVID-19) pandemic is regularly expanding. Pregnant women are more prone to contract the infection compared to other people. In pregnant women, the cases of COVID-19 pneumonia are mild with rapid and better recovery. Pregnant women with heart diseases are at higher risk. The pandemic affects maternal health directly and indirectly, and neonatal or newborn babies are to be cared for. One-third of the women had insufficient antenatal visits, and the absence of regular antenatal visits and unsupervised pregnancies can have indirect adverse effects on maternal health. Children are significantly less susceptible to COVID-19 infection, and they do have a mild course. Therefore, the prenatal and neonatal equipment care market growth rate will likely grow steadily in the coming years.
Market Size Available
2022 to 2028
2023 to 2028
By Product Type and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled
Philips Healthcare, CareFusion Corporation, Covidien PLC, Fisher & Paykel Healthcare Limited, Siemens Healthcare, Smiths Medical, and Drägerwerk AG & Co. KGaA
This research report on the global prenatal and neonatal equipment care market has been segmented and sub-segmented based on product type and region.
Prenatal and Neonatal Equipment Care Market – By Product Type:
Based on product type, the neonatal care equipment segment accounts for the global market's larger share. In contrast, the fetal care equipment segment is anticipated to grow at the highest CAGR during the forecast period.
Concerning prenatal and fetal equipment types, the fetal dopplers segment contributes a significant share of revenues to the market. It is likely to witness rapid growth during the forecast period due to increasing demand for digital dopplers over traditional devices, the emergence of the novella, and innovative home-care products. In addition, other benefits, such as ease of use, novel features, display function, and mobility, contribute to this market segment's growth.
Prenatal and Neonatal Equipment Care Market – By Region:
Geographically, North America is dominating the global prenatal and neonatal equipment care market by contributing a significant share of revenues to the market and is foreseen to witness rapid growth in the market of prenatal and neonatal equipment care during the forecast period owing to the factors such as increasing awareness regarding the healthcare of expecting women, and favorable laws of healthcare in the region. The Asia Pacific is another major market segment that contributes a significant share of revenues to the market and is anticipated to continue the trend due to increasing healthcare expenditure and an increasing number of pregnant women getting prenatal care.
KEY MARKET PLAYERS:
Some of the most prominent companies dominating the global prenatal and neonatal equipment care market profiled in this report are Philips Healthcare, CareFusion Corporation, Covidien PLC, Fisher & Paykel Healthcare Limited, Siemens Healthcare, Smiths Medical, and Drägerwerk AG & Co. KGaA.
RECENT MARKET HAPPENINGS:
The global prenatal and neonatal equipment care market is predicted to be worth USD 8.27 billion in 2023.
The increasing prevalence of preterm births, rising awareness about prenatal and neonatal care, and technological advancements in medical devices are the key factors driving the growth of the prenatal and neonatal equipment care market.
The high cost of medical devices and equipment, the lack of skilled professionals, and the stringent regulatory framework are some of the challenges faced by the prenatal and neonatal equipment care market.
Some of the key players in the prenatal and neonatal equipment care market include GE Healthcare, Drägerwerk AG & Co. KGaA, Koninklijke Philips N.V., Fisher & Paykel Healthcare Corporation Limited, and Natus Medical Incorporated.
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