Global Neonatal Intensive Care Market is expected to reach $XX Mn by 2026 from $XX Mn in 2019, at a CAGR of 5.8% during forecast period.
Global Neonatal Intensive Care Market Overview:
Neonatal Intensive Care unit is a specialized intensive care unit, which provides care to babies who are premature, critically ill, or have other conditions requiring special care.
Global Neonatal Intensive Care Market Dynamics:
Rise in premature births accelerates the market growth
According to recent statistical data, around 11% of the total pregnancies result in premature or early deliveries. In the U.S. alone around 450,000 babies are born prematurely and globally over 15 million new births are early or premature. Increasing rates of maternal obesity, advanced maternal ages, diabetes, multiple births (twins and higher), assisted reproductive techniques, and opiate addiction is the reasons for preterm birth. Hence, this leads to the expansion of pediatric clinics and neonatal intensive care units globally. Rising awareness about neonatal care and technological advancements being made for neonatal care devices also contribute to the market growth. However, expensive neonatal care, decreasing birth rate, and poor accessibility of neonatal care in some underdeveloped and developing economies may restrain the market growth. In May 2020, Dragerwerk AG & Co. KGaA launched Babylog VN600 and VN800 ventilators for premature babies. This product launch will help the company in broadening its customer base with product portfolio expansion.
The report has profiled key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. Increasing R&D activities in each region are different and focus is given on the regional impact on the cost, availability of advanced technology are analyzed.
Global Neonatal Intensive Care Market Segment Analysis:
The Global Neonatal Intensive Care Market is segmented based on the product type and End-Users.
Based on Product Type, Neonatal Incubators segment is expected to hold a large market share during the forecast period. A neonatal incubator is an enclosed device, which is used to keep premature infants or for some ill full-term babies for the observation and their treatment under stabilized environment. The incubator may also include a heater, fan, water container to add humidity and access ports. The incubator segment is expected to grow at a CAGR of 6.9% during the forecast period. Ongoing research and new technological developments in the medical sector are expected to drive the segment growth. Also, the adoption of thermoregulation devices will fuel market growth. Thermoregulation is a critical function that is quite necessary when it comes to sick neonates and infants.
Global Neonatal Intensive Care Market Regional Insights:
Global Neonatal Intensive Care Market Regional
North America is expected to dominate the global Neonatal Intensive Care Market.
USA dominated the market in North America by $XX Mn in 2019. Several factors like increased healthcare expenditure, well-furnished and developed medical infrastructure and favorable medical insurance policies provided by the government escalates the market growth in the region. Also, the USA has the highest rate of premature births around 450,000 babies yearly which increases the demand for NICU, creates potential opportunities for market growth in the region.
APAC is expected to grow at a substantial CAGR during forecast period.
Improving medical infrastructure and rising awareness about neonatal care will drive market growth. Japan has highly developed infant healthcare facilities. According to the statistical data, around 1800 infant deaths have been registered in the year 2017. This factor gives rise to necessary market growth opportunities. Recent technological developments and high healthcare expenditure augment the market growth. Phoenix Medical Systems India offers the neonatal intensive care Incubator INC 200, which has been designed for the reliability and safety of the baby. It is equipped to meet any situation arising in neonatal care, making it vital equipment in the NICU. This equipment is compact. At the same time, its construction is sturdy. It is user-friendly, and it has an aesthetic appearance.
The report also helps in understanding Global Neonatal Intensive Care Market dynamics, structure by analyzing the market segments and project the Global Neonatal Intensive Care Market size. Clear representation of competitive analysis of key players By Product type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Neonatal Intensive Care Market make the report investor’s guide.
Scope of Global Neonatal Intensive Care Market report:
Global Neonatal Intensive Care Market, by Region:
• North America
• South America
Key players operating in global Neonatal Intensive Care Market:
• Medtronic plc
• C. R. Bard, Inc.
• Becton, Dickinson and Company
• Cook Medical
• Teleflex Incorporated
• B. Braun Melsungen AG
• GE Healthcare
• Digicare Biomedical Technologies Inc
• Phoenix medical Systems
• Novos Medical Systems
• Dragerwerk AG & Co. KGaA
• Fisher & Paykel Healthcare corporation Limited
• Smith’s Group plc
• Utah Medical Products Inc
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