The North America Fetal and Neonatal Care Equipment Market Size is valued at USD 2.90 billion in 2022 and is poised to grow at a CAGR of 5.9% to reach USD 3.86 billion by 2027.
Y-O-Y rise in the preterm and low-weight babies is one of the factors driving significant growth in the fetal and neonatal care equipment market in North America. According to the Centre for Disease Control and Prevention (CDC), Preterm births affected around one out of every ten newborns born in the United States in 2016. Furthermore, the incidence of illnesses among newborns has risen. According to UNICEF (United Nations International Children's Emergency Fund) data, 2.5 million children worldwide died in their first month of life in 2017. In addition, preterm and low-birth-weight newborns are also vulnerable to various health hazards and require specific care. As a result, the need for neonatal equipment is likely to skyrocket.
In addition, a growing number of initiatives from the public and private sectors to enhance patient care and an increase in the number of neonatal care facilities in North America are expected to favor the market’s growth rate during the forecast period. Furthermore, growing technological innovation in baby and maternal care goods and rising congenital and pregnancy issues due to sedentary lifestyles are further estimated to fuel the market's growth rate.
However, one of the primary restraints impeding the growth of the fetal and neonatal care equipment market in this region is the rising expense of newborn care, compounded by developments in medical devices. On the other hand, the growing preference for refurbished gadgets in underdeveloped economies could stifle market growth. Additionally, newborn hospital-acquired diseases such as Central Line-Associated Bloodstream Infections (CLABSI) and healthcare-associated pneumonia contribute to market growth. Various factors like maternal age, artificial fertility, and a lack of good prenatal care contribute to premature kids' birth.
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:
Geographically, North America is predicted to grow at the fastest rate during the forecast period, owing to increased healthcare expenditures, a large patient pool, and the expansion of the region's private hospitals and diagnostic facilities.
The U.S. Fetal and Neonatal Care Equipment Market is estimated to lead the North American market during the forecast period due to well-established healthcare facilities and the rising need for modern healthcare systems. In addition, with the expansion in the number of devices approved by the US FDA, the value-based healthcare model has led to highly specialized NICU centers in the United States. Most Neonatal monitoring tools and equipment are primarily utilized in the neonatal intensive care unit (NICU), emergency room, and operating theatre for continuous monitoring of neonates and babies. The demand for this equipment has increased as preterm births have increased, even in industrialized countries, resulting in market expansion.
The Canada Fetal and Neonatal Care Equipment Market have grown significantly over the last five years. Furthermore, newborn screening programs provide many advantages that boost market growth. Governments from all over the world are launching new efforts and raising awareness about the benefits of newborn screening. In addition, several government and non-governmental groups work hard to improve fetal and maternal care alternatives.
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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