According to the report, the Size of the Latin America Fetal and Neonatal Care Equipment Market is valued at USD 0.98 billion in 2023 and is predicted to grow at a CAGR of 6.9%, reaching USD 1.37 billion by 2028 during the forecast period 2023 to 2028.
The major factors in the Latin American fetal and neonatal care equipment market are the increasing birth rate and premature birth rate and the growing demand for wearable devices for fetal and newborn care that is driving the market's growth. One of the significant factors in developing the fetal and neonate care equipment market in Latin America is the increase in birth rate and premature birth rate, especially in developing economies. In addition, portable devices provide excellent performance and eliminate the need to invest in independent neonatal care systems.
Additionally, hospital-acquired neonatal infections such as central route-associated bacteremia (CLABSI) and clinically associated pneumonia are additional notable factors responsible for the market growth in Latin America. Several aspects, such as the end of maternal age, induced fertility, and adequate prenatal care, are considered essential factors are contributing to premature babies' birth.
According to the WHO estimates, 16 million newborns are born each year, and reported that two million died from complications of preterm labor in 2019. To treat complications associated with preterm infants, demand for fetal care equipment is expected to increase the health of the babies significantly. In addition, the consequences of government support policies, along with rapid technological advancements in modern fetal and neonatal equipment, are expected to contribute to long-term growth.
However, the higher price of advanced neonatal care equipment will slow the growth of the fetal and neonatal care equipment market, as the growing preference for refurbished devices in emerging economies has the potential to challenge the development of the fetal and neonatal care equipment market. Also, the strict regulatory policies for the approval of new devices may hamper the market growth rate in Latin America.
This research report on the Latin America Fetal and Neonatal Care Equipment Market has been segmented and sub-segmented into the following categories
By Product Type:
By End Users:
Geographically, the Latin America Fetal and Neonatal Care Equipment Market dominated the global market in terms of revenue due to the growth of well-established healthcare facilities and progressing demand for advanced health care facilities in hospitals and clinics.
The Brazil fetal and neonatal care equipment market is predicted to have the most significant participation due to the growing number of preterm births and greater awareness of newborn childcare; hospitals and clinics depend on replacing existing equipment for better childcare.
The Argentina fetal and neonatal care equipment market is also expected to reach the highest rate, owing to increased spending on healthcare, a large number of patients, and increased private hospitals and diagnostic centers in this region. Other regions in Latin America will also show a steady and healthy market growth rate in the upcoming years.
KEY MARKET PLAYERS
Noteworthy Companies leading the Latin America Fetal and Neonatal Care Equipment Market Profiled in the Report are Medtronic plc, Masimo Corporation, Dickinson and Company, Philips Healthcare, Medtronic, Drägerwerk AG & Co. KGaA, GE Healthcare.,
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