The prenatal and neonatal equipment care market in Latin America was worth USD 0.54 billion in 2022 and is estimated to be growing at a CAGR of 5.80%, reaching USD 0.72 billion by 2027.
The market for prenatal and neonatal equipment in Latin America is predicted to be primarily boosted by the Y-O-Y rise in births of children with low birth weight and preterm infants. Furthermore, a steadily increasing ratio of working women, the advent of modern healthcare systems due to technical advancements, and increased urbanization over the last decade are further estimated to contribute to expanding the prenatal and neonatal equipment care market in the Latin American region. In addition, factors such as rising disposable income, rising healthcare expenditure, increasing public awareness of maternal healthcare, and a rise in demand for prenatal therapeutics and diagnostics are further forecasted to support the market's growth rate.
During the forecast period, an increased focus on initiatives from private and public organizations to create enhanced monitoring systems and equipment for optimal treatment of pregnant women and premature infants is expected to provide more potential prospects for the market participants. In addition, increasing urbanization and population awareness of prenatal and neonatal health concerns are likely to offer growth possibilities for the Latin American prenatal and neonatal equipment market during the forecast period. Furthermore, introducing unique and revolutionary equipment for prenatal and neonatal healthcare is expected to provide growth prospects for immunoassays market participants.
Growing adaptation of sedentary lifestyle, the enforcement of stringent laws by various governments to control population rates, and the declining price of birth rates due to women empowerment leading to an increase in the number of employed women around the world are a few of the significant factors are expected to be limiting the growth of the prenatal and neonatal equipment care market in the Latin American region.
The new coronavirus (COVID-19) pandemic is spreading rapidly. In comparison to the general population, pregnant women are more likely to get the virus. Inadequate prenatal visits were reported by one-third of the women, and the absence of frequent antenatal visits and unsupervised pregnancies can have indirect negative consequences on maternal health.
This research report on the Latin America prenatal and neonatal equipment care market has been segmented and sub-segmented into the following categories:
By Product Type:
Geographically, the Latin American regional market for prenatal and neonatal equipment is predicted to showcase steady growth from 2022 to 2027. Growing technical improvements in newborn and maternal care goods and sedentary lifestyles leading to an increase in pregnancy problems and congenital diseases are favoring the market to rise.
The Brazilian market is projected to dominate the Latin American Prenatal and Neonatal Equipment Care Market during the forecast period. The Brazilian market for prenatal and neonatal care equipment is growing due to an increase in the incidence of low-weight and preterm babies. Preterm deliveries are connected with many problems, leading to infant fatalities as the number of births rises. Furthermore, the prevalence of illnesses among newborns has risen.
After Brazil, Argentina is predicted to hold the second-largest proportion of the Latin American Prenatal and Neonatal Equipment Care Market. Several companies are handling approvals and product releases. For example, Masimo got FDA certification for Rad-G Pulse Oximeter in September 2020, a durable handheld device that provides clinically validated Single Extraction Technology (SET) pulse oximetry, respiration rate from the pleth, and more (RRp).
KEY MARKET PLAYERS:
Companies playing a prominent role in the Latin America prenatal and neonatal equipment care market profiled in the report are CareFusion Corporation, Covidien PLC, Drägerwerk AG & Co. KGaA, Cooper Surgical, Inc., GE Healthcare, Getinge AB, Fisher & Paykel Healthcare Limited, Natus Medical Incorporated, Philips Healthcare, Siemens Healthcare.
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