Fetal and neonatal care equipment: Key market research findings
- Increasing number of preterm births propels market growth
- NICU segment accounts for a majority of the market’s revenue
- Key vendors – BD, Drägerwerk, Fisher & Paykel, GE, and Philips
Technavio’s market research analysts predict the global fetal and neonatal care equipment market to grow at a CAGR of more than 7% between 2016 and 2020. The growth of this market is fueled by the rising incidences of preterm births. Preterm infants face short- and long-term complications as their organ systems are immature and not prepared to support life in the extra-uterine environment. Such infants require warmth, breastfeeding support, necessary care for infections and breathing difficulties, life support, and critical care monitoring. During 2015, the global fetal and neonatal care equipment market was dominated by the Americas with a market share of more than 43%. Increasing number of approvals for these devices in the region is expected to propel growth in the fetal and neonatal care equipment market in the Americas during the forecast period.
The new market research report form Technavio presents a breakdown and analysis if the fetal and neonatal care equipment segments based on the product type.
“The market is currently witnessing an increase in the adoption of fetal monitor and obstetric devices. Diagnostic wearable fetal monitor and obstetric devices help pregnant women monitor their fetal heart rate. Fetal heart rate monitoring gives important information on the condition of fetal health during pregnancy. Further, these devices lower the fetal monitoring cost and improve the assessment of fetal heart rate condition,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
In 2015, the NICU equipment segment dominated the global market by accounting for almost 31% of the overall market revenue. The increase in number of preterm births worldwide, improved healthcare infrastructure, and increased awareness about neonatal care are some of the key drivers for the growth of this market segment. Vendors in the market are currently trying to develop low-cost, high-efficient, and field deployable NICU equipment to cater to the neonatal segment, which will reduce the factors causing mortality and morbidity in countries with poor resource settings.
The key vendors in the global fetal and neonatal care equipment market include BD, Drägerwerk, Fisher & Paykel, GE, and Philips. Local and regional suppliers collaborate with global vendors to increase their revenue and geographical coverage. However, regional and local vendors are unable to compete with the global vendors in terms of quality, features, and patent restrictions.
A more detailed analysis is available in the Technavio report, Global Fetal and Neonatal Care Equipment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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