Fetal and Neonatal Care Equipment Market to Surge to US$ 12.85 Billion by 2025
Fetal and neonatal care is critical during and after pregnancy, as the fetus and neonates are prone to infections and diseases, owing to low immunity. Therefore, regular diagnosis and monitoring is essential. In emerging economies such as those in Africa, increasing number of at-home births results in high mortality rate. According to NCBI data, 2015, Zambia is one of the sub-Saharan African countries with a high maternal mortality ratio (MMR), and the demographic and health survey (DHS) showed that the country’s MMR is 591 maternal deaths per 100,000 live births. Fetal and neonatal care equipment manufacturers are focusing on offering high-end, home-based infant care and neonatal solutions and this is expected to be one of the major factors driving growth of the market. For instance, in February, 2017, Masimo received CE marking for Eve — a critical congenital heart disease (CCHD) newborn screening application, for the Rad-97 Pulse CO-Oximeter. Eve is integrated with Masimo SET Measure-through Motion and Low Perfusion pulse oximetry with a pre-ductal to post-ductal synchronization algorithm designed to reduce calculation errors and in turn saving newborn lives.
Request a sample copy of this report: https://www.coherentmarketinsights.com/insight/request-sample/1319
The global fetal and neonatal care equipment market is estimated to be valued at US$ 7,279.5 million in 2017 and is expected to witness a CAGR of 7.4% over the forecast period (2017 – 2025).
Fetal monitoring is required to constantly monitor health of the unborn baby and ensure a safe birth. Equipment, which helps to assist in diagnosis, monitoring or treatment of newborn babies are neonatal care equipment. Healthcare professionals perform fetal monitoring during pregnancy and labor, as that process is crucial for keeping the mother and the child safe and healthy. Growth in fetal and neonatal care equipment market is attributed to increasing rate of birth and preterm births. For instance, according to the United Nations Children’s Fund (UNICEF), in 2017, nearly 386,000 babies were born on 1st January worldwide, over which, half of these births were estimated to have taken place in nine countries: India (69,070), China (44,760), Nigeria (20,210), Pakistan (14,910), Indonesia (13,370), the United States (11,280), the Democratic Republic of the Congo (9,400), Ethiopia (9,020) and Bangladesh (8,370).
Increasing government initiatives for fetal and neonatal care is expected for growth of the market
Various government and non-government organizations are actively taking initiatives to provide better maternal and fetal care. Moreover, rise in number of problems during pregnancy due to high-blood pressure, diabetes, preterm labor affects the fetus. So, fetal and neonatal care devices are routinely used by gynecologist and obstetrics to examine fetal or babies’ health during labor and delivery. According to National Institute of Health, Newborn screening programs across the U.S., screen four million infants each year. This public health program detects treatable disorders in newborns, allowing treatment to begin, often before symptoms or permanent problems. Furthermore, demand for fetal monitoring devices is also increasing significantly to reduce intrapartum stillbirths. According to WHO, annually, 15 million babies are born preterm, of which 1 million died before the age of five years, as stated in 2015.
North America is expected to account for highest market share in the global fetal and neonatal care equipment market, owing to the presence of a better reimbursement structure, development of well-equipped neonatal intensive care unit by hospitals. The Newborn Intensive Care Unit (NICU) at Brigham and Women’s Hospital (BWH) is a 60-bed Level III newborn intensive care unit that provides complex multidisciplinary care to more than 3,000 babies each year. Moreover, Asia Pacific is expected to witness high growth in the global fetal and neonatal care equipment market. This is owing to increasing incidences of premature births, high birth rates in countries such as India and China, and increasing healthcare awareness are the factors boosting growth of the market in this region. According to WHO, 2012, most neonatal deaths occur in Asia, which accounted for 40% of the global neonatal deaths, given the high mortality rate in the South-central Asia sub-region. Furthermore, neonatal equipment has been observed to have increasing demand in the middle-income countries, as birth rates in these countries are higher, and the priority for improved fetal & neonatal care is high in these countries. As a result, sales of the equipment are expected to flourish at a rapid rate.
Ask for customization: https://www.coherentmarketinsights.com/insight/request-customization/1319
Key players operating in the global fetal and neonatal care equipment market include Koninklijke Philips N.V., General Electric Company, Medtronic plc, Dragerwerk AG & Co. KGaA, Fisher & Paykel Healthcare Limited., FUJIFILM SonoSite, Inc., Masimo, Natus Medical Incorporated, Atom Medical Corporation, and CooperSurgical Inc.
You may be interested
Social Media Analytics Market to grow like never before by 2026Sayali Tribhuvan - July 17, 2018
Social Media Analytics Market Research Study provide detailed information about the key factors influencing the growth of the industry which include drivers, restraints, opportunities, and industry-specific challenges,…
Construction Chemicals Market Growth Opportunities and Future Prospects till 2026Sayali Tribhuvan - July 17, 2018
The Construction Chemicals Market research report covers the present scenario and the growth prospects of the global Construction Chemicals industry for 2018-2026. The report enlists several important…
Intelligent Virtual Assistant Market Expansion to be Persistent During 2018–2026Sayali Tribhuvan - July 17, 2018
Intelligent Virtual Assistant Market Research Study provide detailed information about the key factors influencing the growth of the industry which include drivers, restraints, opportunities, and industry-specific challenges,…