Australia Neonatal and Prenatal Devices Market

The Australia neonatal and prenatal devices market size is expected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing premature babies and low birth weight babies, rising number of intensive care hospitalizations, and increasing awareness of newborn and fetal care in developing countries.

Newborn birth, also called premature birth, is a disease in which babies are born before the 37th week of pregnancy. Health problems such as shortness of breath, weight gain and need for intensive care are the reasons why they are often held in the neonatal intensive care unit (NICU). Newborn care aims to assess and evaluate the transition of the baby from intrauterine to ectopic life, create a safe and healthy environment for the baby, and carefully monitor the normal and abnormal functions of the newborn and compare the possible treatment options for diseases and conditions. Due to the loss of calories, fat, and glycogen levels, premature babies are more prone to various complications, such as hypothermia. According to the WHO, about 15 million children are born prematurely each year, of which about 1 million die due to premature complications. Monitoring newborns is one of the most difficult tasks. The introduction of modern neonatal care equipment is still a key factor in managing complications related to neonatal health. Manufacturers are investing heavily to meet the growing demand for neonatal care equipment, especially thermoregulatory equipment. Pregnancy complications and advances in maternal and newborn health and increasing awareness have increased the need for improved newborn care.

Market Trends, Drivers, Restraints, and Opportunities

• Growing incidence of premature birth and rising awareness for prenatal and neonatal devices and treatments is expected to boost the market during the forecast period.
• Rapid growth of the healthcare industry owing to increasing number of pediatric clinics and neonatal intensive critical care unit is major factors fueling the market during the forecast period.
• Increasing investment and per capita expenditure in healthcare with high birth rate, in addition to the favorable government policies is anticipated to drive the market during the forecast period.
• High cost of treatment and entry barriers due to government compliance and regulation is projected to hamper the market growth.
• Lack of awareness and economic constraints in developing countries with decreasing birth rate act as major challenges that can restrict the market growth during the forecast period.
• R&D investment and technological advancement in equipment and development in trade regulation is projected to offer significant opportunities for the market players.

Scope of the Report

The report on the Australia prenatal and neonatal device 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 incubators segment is projected to hold a major market share

Based on product types, the prenatal and neonatal equipment market is divided into prenatal, fetal, and neonatal equipment. The neonatal segment is further segregated into neonatal monitoring devices, incubators, respiratory assistance, phototherapy equipment, monitoring devices, and others. The incubator segment is expected to hold a key share of the market during the forecast period owing to newborn babies usually needs an incubator for respiratory support, from supplemental oxygen to continuous positive airway pressure (CPAP) or mechanical ventilation. Infant temperature regulation is one of the main factors that need to be controlled in the neonatal incubator. The company distinguishes equipment based on several parameters. Among them, temperature control is very important, because large temperature fluctuations in newborns can cause heat loss, hypothermia, and apnea, which are closely related to airflow and air speed. People are paying more and more attention to alternative low-cost newborn incubators, such as Mira cradle and embrace nest in India, which are much cheaper than the initial cost of incubators, so hospitals and patients across the country can afford them. However, with the increase in preterm births associated with increased complications and rising demand for advanced products for the treatment of jaundice, the demand for neonatal care equipment has grown exponentially. Nevertheless, research on the implementation of advanced technology and the improvement of obsolete equipment technology is expected to create lucrative opportunities for neonatal care equipment manufacturers in different geographic regions.

Segments

Segments Covered in the Report
The Australia prenatal and neonatal device market has been segmented on the basis of

Product Types

• Prenatal Equipment
• Fetal Equipment
• Neonatal Equipment
  • Incubators
  • Neonatal Monitoring Devices
  • Phototherapy Equipment
  • Respiratory Assistance
  • Monitoring Devices
  • Others

Key Players

• Vyaire Medical
• Koninkliijke Philips N.V.
• Natus Medical Incorporated
• Getinge AB
• GE Healthcare

Competitive Landscape

Key players competing in the neonatal and prenatal device market include Vyaire Medical; Koninkliijke Philips N.V.; Natus Medical Incorporated; Getinge AB; and GE Healthcare.

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