Fact.MR – A Market Research and Competitive Intelligence Provider: As per latest Fact.MR analysis, the neonatal monitoring equipment market is anticipated to witness strong growth, at a CAGR of around 5.7% between 2018 and 2028.
Pulse Oximetry to Remain Standard Care in the Neonatal Intensive Care Units (NICUs)
Fact.MR’s latest report on the neonatal monitoring equipment market offers 10-year forecast for 2018 and 2028. It studies various drivers, restraints and emerging trends shaping the market dynamics. The report further studies the opportunities emerging across leading segments including product type, modality, end user and region.
Fact.MR – A Market Research and Competitive Intelligence Provider: As per latest Fact.MR analysis, the neonatal monitoring equipment market is anticipated to witness strong growth, at a CAGR of around 5.7% between 2018 and 2028.
The swift growth of neonatal monitoring equipment market is attributed to the increasing prevalence of premature birth, advancements in monitoring technologies and increasing adoption of neonatal monitoring equipment in neonatal intensive care units (NICUs).
Neonatal monitoring devices are essential tools that are routinely used in gynecology and obstetrics interventions to examine and monitor fetal health during labor and delivery. Hence, they have become indispensable part of modern prenatal care.
As per the study, increasing premature births is the primary factor fueling the sales of neonatal monitoring equipment. According to the World Health Organization (WHO), an estimated 15 million babies are born preterm every year.
Moreover, around 1 million people die every year due to complications of preterm birth. As preterm newborns are more susceptible to diseases and infections, they are kept under surveillance using these monitoring equipment.
Against this backdrop, Fact.MR opines, sales of wireless & remote solutions for home fetal and maternal monitoring are gaining immense traction. Owing to the convenience and to minimize the hospital cost, preference for home neonatal monitoring devices is also surging.
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Further, increasing efforts of government and healthcare authorities for spreading awareness about the importance of neonatal monitoring devices will continue to accelerate the market growth.
In order to capitalize on increasing adoption, market players are integrating modern technologies for developing advanced and cost-effective products. New neonatal monitors with excellent features such as ECG recordings, oxygen saturation over time, respiratory rate & air flow, and invasive arterial blood pressure are also being launched.
Consecutively, they are also employing various tactics to enter attractive markets across emerging economies. This is expected to bolster the growth in neonatal monitoring equipment market during the forecast period.
In terms of product type, pulse oximeter segment is projected to generate largest revenue over the forecast period. The non-invasive nature of pulse oximetry has made it ideal for application in newborns. Hence, numerous hospitals are employing pulse oximeters as the standard care in their NICUs.
Regionally, North America is likely to retain its dominant position in the global neonatal monitoring equipment market. Growth in the region is attributed to the strong presence of leading medical device manufacturers, highly developed healthcare infrastructure and favorable reimbursement policies.
“Rising penetration of advanced fetal monitoring devices in developing regions such as India, Brazil, and South Korea is creating lucrative growth avenues within neonatal monitoring equipment market. In order to capitalize on the untapped potential across these countries, key players are introducing new products and establishing partnerships with regional players,” says a Fact.MR analyst
Key Takeaways from Neonatal Monitoring Equipment Market Survey
- The U.S. is expected to dominate the neonatal monitoring equipment market, accounting for the largest share through 2028.
- The U.K. market is slated to register an impressive CAGR over the forecast period of 2018 and 2028.
- With increasing population, growing health awareness and alarming increase in preterm mortality rate, Asia will emerge as a lucrative market for neonatal monitoring equipment.
- Hospitals segment is likely to remain the primary end user for neonatal monitoring equipment over the assessment period.
Key Drivers
- Expansion of healthcare infrastructure across emerging economies is creating lucrative growth opportunities in Asia and Middle East neonatal monitoring equipment market.
- Increasing penetration of neonatal monitoring equipment for countering the premature fetal mortality rate is positively impacting the market growth.
- New product launches with advanced monitoring features will continue to boost the sales of neonatal monitoring equipment over the forecast period.
Key Restraints
- Low penetration of neonatal monitoring equipment across underdeveloped regions such as Brazil is restraining the growth in the market.
- Stringent regulation for product approval may limit the growth.
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Competitive Landscape
Leading players operating in the neonatal monitoring equipment market are continuously focusing on innovating their products. They are also eyeing the Asia and Latin America market for untapped potential.
To strengthen their position in aforementioned regions, key players are collaborating with regional players through mergers and partnerships. They are also focusing on advanced product launches and approvals to gain competitive edge in those regions.
- In May 2021, Medtronic Plc, the global leader in medical technology announced the U.S. commercial launch of the SonarMed airway monitoring system. The first and the only device of its kind, the SonarMed sirway monitoring system utilizes acoustic technology to check for endotracheal tube (ETT) obstruction and verify position in real-time, giving clinicians vital information for making life saving decisions.
- In November 2021, Masimo launched Dual SET pulse oximetry to improve maternal and newborn safety during childbirth and the critical first minutes of life.
- In June 2020, Royal Philips, a global leader in health technology, launched new obstetrics monitoring solution “Avalon CL Fetal and Maternal Pod and Patch” to support clinicians and expectant mothers during COVID-19 pandemic.
- In April 2019, InnAccel launched SAANS, the world’s first infrastructure-independent portable neonatal CPAP system. It is built to provide breathing support to critically ill neonates with respiratory distress syndrome (RDS) in resource-poor settings and during transportation.
Some of the prominent players operating in the neonatal monitoring equipment market profiled by Fact.MR are:
- General Electric Healthcare Limited
- Koninklijke Philips NV
- Drägerwerk AG & Co. KgaA
- Nihon Kohden Corporation
- Opto Circuits (India) Ltd.
- Masimo Corporation
- Others
More Insights on the Global Neonatal Monitoring Equipment Sales Outlook
Fact.MR provides an unbiased analysis of neonatal monitoring equipment market, presenting historical demand data (2013-2017) and forecast statistics for the period from 2018-2028. The study divulges compelling insights on the global demand for neonatal monitoring equipment with a detailed segmentation on the basis of:
Product Type
- Ventilator
- Pulse Oximeter
- Capnography Meter
- Cardiorespiratory Monitor
- Bilirubinometer
- EEG Monitor
- Blood Pressure Monitor
Modality
- Portable Devices
- Transportable Devices
- Standalone Devices
End-user
- Hospitals
- Neonatal Clinics
- Nursing Homes
- Diagnostic Centers
- Other End-Users
Region
- North America
- Latin America
- Europe
- Japan
- Asia-Pacific Excluding Japan (APEJ)
- Middle East & Africa (MEA)
Key Questions Covered in the Neonatal Monitoring Equipment Market Outlook Report
- The report offers insight into neonatal monitoring equipment demand outlook for 2018-2028
- The market study also highlights projected sales growth for neonatal monitoring equipment market between 2018 and 2028.
- Neonatal monitoring equipment market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Neonatal monitoring equipment market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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