Fetal and Neonatal Care Equipment Market

The fetal and neonatal care equipment market size is estimated to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to growing technological advancement in infant and maternal care products, increasing number of preterm and low-weight births, and rising congenital and pregnancy complications due to sedentary lifestyle.
 

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Fetal monitoring devices are principal tools that are generally required in obstetrics and gynecology interventions, to examine fetal health during labor and delivery. Neonatal devices are rigorously used in neonatal intensive care units (NICUs), where monitoring devices and complex machines are designed for the unique needs of newborn babies.

The Covid-19 pandemic had an adverse impact on the fetal and neonatal care equipment market. There has been significant reduction in premature births during the 2020 nationwide lockdown. Additionally the neonatal immune system plays a crucial role in fighting against SARS-CoV2 infection. Therefore, the need for fetal and neonatal care equipment to fight the COVID-19 infection is not imperative thereby hindering the market growth; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing number of preterm births in Europe is one of the extensive causes of death in early childhood in the region. Neonatal intensive care unit (NICU) provides special care to Preterm babies, due to which the demand for neonatal devices is also growing.
• Rising pregnancy and congenital complications owing to a sedentary lifestyle is expected to drive the Europe fetal and neonatal care equipment market during the forecast period.
• Increasing incidence of diseases and associated complications among newborns is estimated to propel the market growth in coming years.
• Rising cost of neonatal care is projected to hinder the European fetal and neonatal care equipment market.
• R&D investment and technological advancement in fetal and neonatal care equipment market are expected to offer lucrative opportunities for the market players.

Scope of the Report

The report on fetal and neonatal care equipment market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

The neonatal Care equipment segment is expected to register a substantial CAGR
Based on product type, the fetal and neonatal care equipment market is segregated into fetal care equipment and neonatal care equipment. The fetal care equipment is further sub divided into fetal Dopplers, fetal magnetic resonance imaging (MRI) devices, ultrasound devices, fetal pulse oximeters, and others and neonatal care equipment is further divided into incubators, neonatal monitoring devices, phototherapy equipment, respiratory assistance, and monitoring devices, and others. The neonatal care equipment segment is expected to account for a key share of the market during the forecast period owing to the growing prevalence of preterm births in the region due to increasing age of pregnancy and changing lifestyles of mothers. Furthermore, preterm-born babies are more prone to infections and diseases and require more care. Increasing number of preterm-born babies is projected to spur the market growth. Additionally, increasing awareness and research on wireless monitors, growing need for neonatal monitors, and the collaborations of these regions with major players and their launches in this region are anticipated to propel the segment growth during the forecast period.

North America is expected to dominate the market
In terms of regions, the market is broadly classified into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is anticipated to expand at a robust CAGR during the forecast period.  The presence of well-established healthcare facilities and the rise in the demand for advanced healthcare systems in this region is expected to drive the market growth in near future; however, Asia Pacific is projected to grow at a rapid pace in coming years due to high patient pool, increasing healthcare expenditures, and rising private hospitals and diagnostic centers in this region.
 

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Segments

Segments Covered in the Report
The fetal and neonatal care equipment has been segmented on the basis of:-

Product Type

• Fetal Care Equipment
  • Fetal Dopplers
  • Fetal Magnetic Resonance Imaging (MRI) Devices
  • Ultrasound Devices
  • Fetal Pulse Oximeters
  • Others
• Neonatal Care Equipment
  • Incubators
  • Neonatal Monitoring Devices
  • Phototherapy Equipment
  • Respiratory Assistance
  • Monitoring Devices
  • Others

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Companies

• Atom Medical Corporation
• Becton, Dickinson and Company
• Dargerwerk Ag & Co. KGaA
• GE Healthcare
• KoninKlijke Philips NV

Competitive Landscape

Key players competing in the fetal and neonatal care equipment market include Atom Medical Corporation, Becton, Dickinson and Company, Dargerwerk Ag & Co. KGaA, GE Healthcare and KoninKlijke Philips NV.

Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.