Neonatal Care Equipment Market Size, Industry Share, Growth, Business Development, Research Report, Revenue Expansion Forecast 2023

This report aims to provide detailed insights into the global Neonatal Care Equipment Market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.

Expected Revenue Growth:

[206 Pages Report] The fetal and neonatal care equipment market is projected to grow from an estimated USD 6.4 billion in 2018 to USD 8.4 billion by 2023, at a CAGR of 5.7% during the forecast period. Growth in the fetal and market is mainly driven by the rise in number of preterm and low-weights birth infants, growing number of NICU admissions, and increased awareness of neonatal and fetal care across developing nations.

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Incubators segment to dominate the overall neonatal care equipment market in 2018

The neonatal care equipment segment comprises infant warmers, incubators, convertible warmers & incubators, phototherapy equipment, respiratory devices, and neonatal monitoring devices. The incubators segment is expected to account for the largest share in the global neonatal care equipment market in 2018. The development of novel neonatal incubators and availability of MRI-compatible incubators in the market is a key driver of market growth. However, market growth is hindered due to the high cost of incubators (up to USD 20,000 per unit) and increasing home deliveries in developing countries.

The fetal dopplers is expected to be the fastest-growing product segment in the fetal care equipment market during the forecast period

Based on type of product, the fetal care equipment segment is further categorized into, ultrasound devices, fetal doppler, fetal magnetic resonance imaging (MRI) systems, fetal monitors (further classified into antepartum/external fetal monitors and intrapartum/internal fetal monitors), and fetal pulse oximeters. The fetal dopplers segment is expected to register the highest growth rate during the forecast period. The growing demand for digital Dopplers over conventional Dopplers and increasing launches of home-use products are some of the key factors propelling market growth of the fetal Dopplers market

North America to dominate the fetal and neonatal care equipment market in 2018

Geographically, the fetal and neonatal care equipment market is segmented into North America (US and Canada), Europe (Germany, France, the UK, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), and the Rest of the World (RoW). North America is expected to account for the largest share of the overall fetal and neonatal care equipment market in 2018 followed by Europe. The large share of North America can be attributed to the high premature birth rate in the region, presence of good reimbursement structure, and the availability of well-equipped NICU centers.

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Key Market Players

Some of the prominent players in the fetal and neonatal care equipment are GE Healthcare (U.K.), Philips Healthcare (Netherlands), Drägerwerk AG & Co. KGaA (Germany), Medtronic plc (Ireland), and Masimo Corporation (U.S.).

GE Healthcare holds the leading position in the overall fetal and neonatal care equipment market. In order to sustain its leadership position and to ensure future growth, the company adopts several organic growth strategies such as new product launches and expansions and inorganic growth strategies such as collaborations and agreements. The company has witnessed substantial growth in the past years in the market. In order to capture the global market, the company focuses on launching new products with advance technology and affordability in the maternal and infant care segment.  In line with this strategy, the company launched several products such as Vscan Access (a portable ultrasound system, 2015) and Voluson E10 ultrasound system, Lullaby Warmer Prime (2014).

Philips Healthcare is one of the top five players in the global fetal and neonatal care equipment market. The company adopts both organic (new product launches) and inorganic (acquisitions and collaborations) growth strategies to strengthen its footprint in the global market. The company has a wide range of fetal and neonatal care equipment and a market presence in more than 100 countries, including mature and emerging markets. This aids the company in effectively distributing its products and addressing local customer demands. The company also possesses a well-established supply chain network along with a wide number of raw material suppliers and product distributors. This limits the dependability of the company on a specific raw material supplier or product dealer/distributor.

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