The North America Fetal and Neonatal Care Equipment Market Size is valued at USD 2.90 billion in 2023 and is poised to grow at a CAGR of 5.9% to reach USD 3.86 billion by 2028.
The growing incidence of premature births with associated complications and a high birth rate across North America is driving the growth of the North America Fetal and Neonatal Care Equipment Market. The healthcare sector faces a challenge due to rising newborn infections. Neonatal care is critical for premature or sick babies. It often requires specialized equipment such as respiratory devices, neonatal ventilators, incubators, convertible warmers, phototherapy equipment and continuous positive airway pressure devices. The need to address hospital-acquired infections among newborns and provide optimal care in neonatal intensive care units for quick recovery further propels the regional market growth.
Owing to the growing number of abortions and unforeseen bleeding among pregnant women, healthcare professionals have been conducting regular monthly checkups for both the mother and the fetus. This proactive approach ensures proper treatment during pregnancy for optimal fetal health. A range of devices is utilized to monitor fetal well-being, allowing healthcare professionals to track the baby's heartbeat. This enables timely adjustments in medication to prevent critical complications during pregnancy and labor. These fetal care devices and equipment also facilitate monitoring of the baby's growth and organ development before labor, aiding informed decisions based on the baby's condition. Notable fetal care equipment includes ultrasound devices, fetal MRI systems, fetal monitors, and fetal pulse oximeters.
The continuous advancements in manufacturing diverse fetal and neonatal equipment contribute to the growth of the North American market. With the growing investments to conduct R&D activities, manufacturers are concentrating on portable equipment innovation for in-womb fetal examination. Portable fetal equipment enhances the understanding of fetal conditions from various angles. The integration of advanced technologies like sensors contributes to improved treatment methodologies. The rising support from childcare and governmental organizations and the prominent presence of key industry players in North America further boost the growth rate of the North American market.
The high costs associated with fetal and neonatal care equipment are one of the major factors hampering the North American market growth. Factors such as insufficient awareness regarding fetal care, inadequate availability of skilled professionals, prolonged device approval timelines, and stringent regulatory frameworks further hinder regional market growth.
This research report on the North America Fetal and Neonatal Care Equipment Market has been segmented and sub-segmented into the following categories.
By Product Type:
By End Users:
North America accounted for the largest share of the global market in 2022 and the domination of the North American region in the worldwide market is likely to continue throughout the forecast period owing to the substantial advancements in medical facilities catering to pregnant women and newborns. The U.S. is estimated to account for the leading share of the North American market during the forecast period. Factors such as the initiatives from the U.S. government concerning novel equipment approvals and launches, growing awareness campaigns on fetal and neonatal care by women and children organizations, dedicated care centers for newborns and the growing number of children's hospitals. Canada is predicted to hold a considerable share of the North American market during the forecast period owing to the manufacturing capabilities, research laboratories, improving healthcare infrastructure, availability of advanced care devices, and favorable reimbursement policies
KEY MARKET PLAYERS
A few prominent companies leading the North America Fetal and Neonatal Care Equipment Market Profiled in the Report are Philips Healthcare, Medtronic, Medtronic plc, Masimo Corp, GE Healthcare, Dickinson and Company, Drägerwerk AG & Co. KGaA.
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