There has been a rapid rise in the birth rate worldwide. Additionally, there has been an increase in the number of premature births which increases demand for devices that can be utilized to reduce the fetal mortality rate. Increasing awareness regarding neonatal infant care is an integral factor which can assist the market to grow globally.
Factors Impacting Market Growth
An increasing number of premature infant births, a rising number of neonatal intensive care unit (NICU) admissions and growing awareness regarding fetal care are some of the influential factors responsible for positive market growth.
Nevertheless, the neonatal care equipment is expensive increasing the treatment cost which can negatively affect the market growth.
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Insights on Global Fetal and Neonatal Care Equipment Market:
1. By Region
• North America
• Europe
• Asia Pacific
• Rest of the World
North America dominates the global market and this is mainly credited to the presence of excellent reimbursement structure, availability of well-equipped and advanced NICU centres, maternity mortality rate, rising prevalence of neonatal abstinence syndrome (NAS) and lifestyle challenges like smoking, lack of nutrition, etc.
The Asia Pacific region is rapidly growing due to an escalating birth rate in the region. Additionally, improving healthcare infrastructure in the emerging economies like India and rising awareness regarding neonate care has also boosted the market growth in the region.
2. By Product
• Fetal (Labor and Delivery) Care Equipment
o Fetal Doppler Devices
o Fetal Ultrasound Devices
o Fetal MRI Systems
o Fetal Monitors
o Fetal Pulse Oximeter
• Neonatal Care Equipment
o Infant Warmers
o Neonatal Incubators
o Convertible Warmers & Incubators
o Neonatal Phototherapy Equipment
o Respiratory Care Devices
o Neonatal Monitoring Devices
o Neonatal Diagnostic Imaging Devices
Fetal doppler devices dominate this market owing to the growing popularity for using doppler devices because of their ease of use, display functionalities and novel features. Additionally, these devices offer mobility as these are handheld devices which are battery-operated which increases its demand even more.
Moreover, the doppler imaging diagnosis is highly adopted especially during the first trimester of pregnancy and in the case of diagnosing restricted fetal growth thus driving market growth. There is a rising preference for fetal-placental circulatory systems to be assessed which further increases the demand for doppler devices.
In the case of neonatal care, the incubator segment leads the market owing to a rise in the number of neonatal hypothermia cases as it is the most common reason for neonatal mortality. The only disadvantage that these incubators have is the limited access to the infant as compared to something like infant warmers and this can hamper the market growth of this segment.
3. By End User
• Hospitals
• Pediatric and Neonatal Clinics
• Nursing Homes
Hospital segment is likely to dominate the market due to the advanced features that hospitals offer especially for newborn babies. This trend is prominently observed in developed economies where the spending capability of the patient population is high.
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Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
GE Healthcare announced Versana Essential in 2018 which is a budget-friendly ultrasound system. GE also claims that the image quality of this system is excellent considering the low price and its usage spectrum lies form OB-GYNs to general practice physicians. It can be used for viewing kidney vessels, thyroid vasculature and assessment of blood flow through carotid, aorta and other vessels. Versana Essential has some special features like Whizz one-touch dynamic image optimization, SonoBiometry for fetal measurements and Auto IMT measurement. Inclusion of doppler capabilities is an added advantage Versana Essential has over other ultrasound devices.
Key Market Players:
• GE Healthcare
• Philips Healthcare
• Medtronic Plc.
• Masimo Corp.
• Drägerwerk AG & Co. KGaA
FutureWise Key Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global fetal and neonatal care equipment market by region, by product, by end user
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific and rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
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