Press Release

Neonatal & Prenatal Care Market to Grow with a CAGR of 6.35% through 2028

Rising incidence of preterm births and government initiatives to provide better care for prenatal and neonatal infants is expected to drive the Global Neonatal & Prenatal Care Market growth in the forecast period, 2024-2028.

 

According to TechSci Research report, “Neonatal & Prenatal Care Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Neonatal & Prenatal Care Market stood at USD 7.68 billion in 2022 and is anticipated to grow with a CAGR of 6.35% in the forecast period, 2024-2028. The significant driver behind the growth of the neonatal and prenatal care market is the rapid technological innovations and infrastructural developments in the healthcare sector.

Furthermore, the substantial investments made by governing bodies and healthcare providers are expected to contribute positively to the global growth of the neonatal and prenatal care market in the upcoming years. Additionally, the high birth rate in emerging nations is projected to further bolster the market growth until 2028.

           

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Neonatal& Prenatal Care Market.”

 

Several factors contribute to the growth of the neonatal and prenatal devices market. Firstly, the high birth rate in developing countries drives the demand for advanced medical devices and technologies to cater to the needs of newborns. Additionally, the rising prevalence of preterm births, which pose unique healthcare challenges, further fuels the market growth.

Governments around the world have recognized the importance of improving survival rates for neonates and have implemented initiatives to address this issue. These efforts include funding research, developing healthcare infrastructure, and promoting awareness about neonatal health and care equipment. As a result, the market is expected to witness significant expansion.

Furthermore, the increasing prevalence of neonatal hospital-acquired infections has raised concerns among healthcare professionals. This has led to a greater emphasis on infection control measures and the adoption of specialized equipment designed to minimize the risk of infections in neonatal units.

It is worth noting that maternal and infant care has emerged as a global priority. The UN Foundation highlights the alarming fact that approximately 800 women die every day from preventable conditions related to pregnancy or childbirth. This has intensified the demand for neonatal & prenatal care, as healthcare providers strive to improve outcomes for both mothers and infants. In addition, hospital-acquired infections (HAIs) continue to be a significant concern for premature and medically fragile infants who require extended hospitalization. The focus on infection prevention and control in neonatal units has prompted the development of innovative devices and strategies to minimize the risk of HAIs.

The major factors driving the growth of the neonatal and prenatal devices market include the rising incidence of preterm births, increasing awareness of prenatal and neonatal care, and government initiatives aimed at providing better care for prenatal and neonatal infants. Babies born with low birth weight, weighing less than 5.8 pounds, are especially vulnerable to various health risks. Preterm births are one of the primary contributing factors to low birth weight. These preterm and low-weight babies are prone to various medical conditions and infections, necessitating the use of different neonatal and prenatal devices for their treatment. This is expected to fuel the growth of the market over the forecast period of the study. For instance, according to a research study published in July 2020 titled "Global Burden of Preterm Birth," approximately 15 million babies are born preterm worldwide each year, with a global preterm birth rate of about 11%. Similarly, the European Union Research and Innovation Magazine reported in July 2020 that around 500,000 premature babies are born every year in Europe. The number of premature babies in the region is increasing due to the rising prevalence of diabetes and obesity among women, as well as the rise in multiple births due to fertility treatments. These factors are expected to further contribute to the growth of the neonatal and prenatal devices market.

The Global Neonatal & Prenatal Care Market is segmented into equipment, application, end user, regional distribution, and company.

Based on equipment, the Incubators segment is projected to hold a significant market share during the forecast period. Neonatal incubators play a crucial role in providing respiratory support to infants, ranging from extra oxygen to CPAP or mechanical ventilation. Temperature regulation is a critical factor in neonatal incubator cases, as severe temperature differences can lead to heat loss, hypothermia, and apnea, which are closely linked to airflow and air velocity. In emerging markets, there is a growing focus on low-cost alternative neonatal incubators like MiraCradle and Embrace Nest in India, which offer a more affordable option for hospitals and patients. Various companies are actively promoting unique infant incubators with improved efficacy. For example, in April 2022, nearly two hundred portable incubators, developed using technology co-invented by a Stanford MBA over ten years ago, were sent to Ukraine to provide life-saving warmth to prematurely born babies in hospitals and bomb shelters. Similarly, Dräger's new Ponta and Ambia ceiling supply systems, implemented on September 30, 2021, offer hospitals enhanced flexibility in designing workstations that meet specific clinical requirements in the operating room, ICU, and NICU. The increasing number of preterm births is further driving the growth of this segment, and the market is expected to witness a high CAGR throughout the forecast period.

Based on region, North America segment is expected to grow during the forecast period. North America is projected to dominate the neonatal and prenatal devices market throughout the forecast period. This can be attributed to the presence of well-established healthcare facilities and the increasing demand for advanced healthcare systems. In the United States, the value-based healthcare model has led to the development of highly specialized NICU centers, supported by the growing number of devices approved by the United States Food and Drug Administration (USFDA). Furthermore, the market growth is bolstered by the presence of major key players in the industry, resulting in more product approvals and advancements. For example, in June 2021, Nuvo Group received approval from the United States Food and Drug Administration for the expanded utility of its INVU, a prescription-initiated remote pregnancy monitoring platform, which now includes a new module for remote monitoring of uterine activity.

Moreover, the rise in neonatal fetal deaths in Canada is expected to contribute to the market growth during the analysis period. According to the World Health Organization's updated data for 2022, the neonatal mortality rate in Canada was reported as 3.18 per 1000 live births, while in the United States of America, it was 3.38 per 1000 live births in 2020. This high burden of deaths underscores the need for neonatal and prenatal devices in the region, thereby driving the market growth. Considering these factors, significant regional growth is anticipated in the neonatal and prenatal devices market throughout the forecast period.

 

Major companies operating in Global Neonatal & Prenatal Care Market are:

  • Atom Medical Corporation
  • GE Healthcare
  • Getinge AB
  • Koninklijke Philips NV
  • Masimo Corporation
  • Medtronic PLC
  • Natus Medical Incorporated
  • Phoenix Medical Systems (P) Ltd
  • Vyaire Medical Inc.
  • Becton, Dickinson and Company

 

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“The increasing prevalence of hospital-acquired neonatal ailments and complications is a key driver for market growth. Additionally, the rising cases of premature birth with low immunity and weight contribute to the growing demand for FNC equipment worldwide. Maternal and fetal care is rapidly emerging as a global priority to prevent fatalities during pregnancy and childbirth. Moreover, technological advancements and innovations in patient monitoring, respiratory, and phototherapy devices aim to enhance user-friendliness, cost-effectiveness, and accuracy, thereby fueling market growth. Furthermore, features such as light-weight, compact designs, and remote monitoring facilities in the equipment are driving its adoption in medical institutions. Factors such as improving fertility rates, awareness campaigns by government and non-government organizations (NGOs) for fetal and neonatal care, and extensive research and development (R&D) efforts are projected to further propel the market.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Neonatal & Prenatal Care Market Segmented By Equipment (Prenatal {Fetal Doppler, Fetal MRI, Fetal Monitor, Fetal Pulse oximetry and others}, Neonatal {Incubators, Neonatal monitoring device {Apnea, Blood pressure, cardio} Phototherapy equipment, Hearing and vision screening instrument, pulse oximetry}), By Application (ENT, Cardiovascular, Respiratory and others), By End User (Hospitals, Pediatric & Neonatal Clinics, Nursing Homes), By Region and Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Neonatal & Prenatal Care Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Neonatal & Prenatal Care Market.

 

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