Global Fetal and Neonatal Care Equipment Market, by Product Type (Fetal Care Equipment (Ultrasound Devices, Fetal MRI Systems, Fetal Monitors, Fetal Pulse Oximeters, and Fetal Doppler) and Neonatal Care Equipment (Infant Warmers, Incubators, Phototherapy Equipment, Respiratory Devices, and Neonatal Monitoring Devices)), and By End User (Hospitals and Home Care Settings, and Other) was valued at US$ 7,279.5 million in 2017 and is projected to exhibit a CAGR of 7.4% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights.
The fetal and neonatal care equipment market will continue to be shaped by the regional and local trends in the annual live births in this market. According to the UNICEF estimates, 2013, an average of 353,000 babies are born each day around the world and their birth rate is 18.9 births per 1,000 population or 4.3 births every second. A number of organizations and government agencies are taking initiatives to improve fetal and neonatal healthcare facilities. For instance, in 2014, the government of India developed the India Newborn Action Plan (INAP) in response to the global Every Newborn Action Plan (ENAP) and launched this program at the World Health Assembly to significantly reduce preventable new born deaths and stillbirths in the country to bring down the neonatal mortality rate and still born rate to single digits by 2030.
Browse 35 Market Data Tables and 29 Figures spread through 170 Pages and in-depth TOC on "Fetal and Neonatal Care equipment Market, Product Type (Fetal Care Equipment (Ultrasound Devices, Fetal MRI Systems, Fetal Monitors, Fetal Pulse Oximeters and Fetal Doppler) and Neonatal Care Equipment (Infant Warmers, Incubators, Phototherapy Equipment, Respiratory Devices and Neonatal Monitoring Devices)), and By End User (Hospitals and Home Care Settings and Others) - Global Forecast to 2025"
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Increasing incidence of hospital acquired infections (HAIs) that hamper the immune system of babies and neurodevelopmental outcomes of infants admitted to neonatal intensive care unit is another factor leading to growth of the fetal and neonatal care equipment market. According to the National Institute of Child Health and Human Development (NICHD) Neonatal Network, 2012, 20–25% of low birth weight infants survived beyond three days were found to have one or more episodes of blood culture proven sepsis, with the majority being caused by gram-positive organisms, predominantly coagulase-negative staphylococci in the U.S. Several manufacturers are taking initiatives to reduce these hospital associated infections (HAIs) for neonates and infants through partnerships with medical centers. For instance, in September, 2012, Maxima Medical Center collaborated with Royal Philips Electronics to launch a medical facility for mothers and children with improved clinical care such as introducing single patient rooms and the Sacred Hour (family bonding in the first hour of a baby’s life) and to reduce hospitalization cost for their treatment.
Advancements in technology in fetal and neonatal care devices such as wireless fetal monitor, integrated fetal monitors, and electronic fetal monitoring are leading to increasing adoption of these fetal and neonatal care equipment. For instance, in 2017, Biotricity, Inc. received ethics approval to conduct a study that is expected to investigate and validate a mobile wireless fetal heart rate variability (HRV) monitor. In addition to this, there are few devices like Microcap handheld capnographs by Medtronic Plc, a handheld capnographs that delivers an easy-to-use assessment of respiratory status. Another device by Contec, a pocket fetal Doppler is a hand-held obstetrical unit, which proves efficient for hospital, clinic, and home use. These advancements in the technology in terms of usage and portability rising the demand of fetal and neonatal care equipment market.
Key Takeaways of the Fetal and Neonatal Care Equipment Market:
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