Prenatal And Neonatal Equipment Care Market

Prenatal and Neonatal Equipment Care Market Size (2022 to 2027)

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.

MARKET DRIVERS:

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. 

MARKET RESTRAINTS:

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.

REPORT COVERAGE:

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:

• Prenatal and Fetal Equipment       
  • Ultrasound and Ultrasonography Devices
  • Fetal Magnetic Resonance Imaging
  • Fetal Dopplers
  • Fetal Monitors
• Neonatal Equipment         
  • Infant Warmers and Incubators
  • Neonatal Monitoring Devices
  • Respiratory Assistance and Monitoring Devices
  • Phototherapy Equipment
• Other Prenatal and neonatal equipment  

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:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

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:

• In 2018, GE health care launched a product for prenatal and neonatal healthcare called Versena Essential.
• Philips has developed a device called Avalon beltless solution for continuous monitor of maternal and fetal, and the company released this device into the market in 2018. Also, Phillips Healthcare has developed an eL18-4 transducer, which was approved by the U.S food and drug administration in 2017.