The Neonatal Infant Care Market To Hit The 20/20 Vision With A CAGR Of 7%

Posted by Merin John on April 8th, 2021

Presently, various types of neonatal monitoring, assistance, and therapeutic care equipment are available commercially. Demand for neonatal infant care equipment is increasing across regions owing to rising prevalence of preterm birth complications and incidence of jaundice in neonates. Technological advancements along with improvements in available neonatal infant care equipment have benefitted manufactures and users alike. Demand has been increasing significantly across both, developed as well as emerging economies. There is especially high demand for thermoregulation devices such as warmers, incubators, eye masks, and monitoring systems.

According to a revised report published by Persistence Market Research, the global neonatal infant care equipment market was valued at US$ 1.9 Bn in 2019, and is predicted to witness an impressive CAGR of 6.5% over the forecast period (2020–2030).

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Companies covered in Neonatal Infant Care Market Report

GE Healthcare

Koninklijke Philips N.V

Medtronic

Drägerwerk AG & Co. KGaA

Natus Medical Incorporated

Fisher & Paykel Healthcare Limited

Masimo Corporation

Becton, Dickinson and Company

Phoenix Medical Systems (P) Ltd.

EDAN

Pluss Advanced Technologies

Natus Medical

Novos Medical Systems

Inspiration Healthcare Group

Mead Johnson & Company, LLC

NIHON KOHDEN COPORATION

Key Takeaways from Market Study

Based on product, thermoregulation devices are expected to represent more than 50% of the revenue share.

By end user, hospitals account for a major revenue share of 52.8%, and the trend is projected to continue during the forecast period as well, due to availability advanced facilities, point of care services, and presence of skilled professionals.

Availability of a wide range of advanced neonatal equipment, rising prevalence of preterm births, and increasing healthcare expenditure are factors aiding market growth.

North America, followed by Europe, are leading regions in the global neonatal infant care equipment market.

The market in the U.S. is projected to expand at a CAGR of nearly 7%, while that in the U.K. at 6.5%.

Both, China and India, are projected to experience a CAGR of more than 7%, on back of high birth rates in the countries.

“New product approvals and launch of advanced neonatal equipment, along with growing demand for jaundice management in newborns, are factors aiding market expansion,” says a Persistence Market Research analyst.