[Research Report] The fetal monitoring market size is projected to grow from US$ 4,118.17 million in 2022 to US$ 7,398.69 million by 2030; the market is estimated to record a CAGR of 7.6% during 2022–2030.

Market Insights and Analyst View:

Fetal monitoring devices are vital tools frequently used in obstetrics and gynecology interventions to examine fetal health during labor and delivery. The prevalence of premature births has increased in recent decades. According to the World Health Organization's 2020 fact sheet, approximately 15 million infants are born worldwide before the completion of the gestation period of 37 weeks, and the rate of premature births varies from 5% to 18% of all babies born across 184 countries worldwide. These premature infants are found to be prone to diseases and infections. Thus, these infants are kept under observation using a monitoring device. These factors have boosted the demand for monitoring devices and equipment, driving technological advancements in equipment. Additionally, many healthcare authorities in developing countries are spreading awareness related to these facilities to lower the mortality rate of newborns. These factors have propelled the growth of the market.

Growth Drivers: 

Increasing Number of Preterm and Low-weight Births

According to the Centers for Disease Control and Prevention (CDC), in 2020, premature births affected 1 in every 10 infants born in the US. Additionally, preterm births among African-American women accounted for 14.4% of all preterm births in the US, which was about 50% higher than the rate of preterm births among white (9.3%) or Hispanic women (10%). Preterm babies in the neonatal intensive care unit (NICU) are delicate and at risk of sudden changes in oxygen and carbon dioxide levels, which can cause severe complications.

Furthermore, as per UNICEF data on Low birthweight, in 2020, 19.8 million newborns, an estimated 14.7% of all babies born globally in 2020, suffered from low birthweight. Continuous monitoring of blood gases, heart rate, and other vital parameters can be performed with fetal monitoring devices. Moreover, rising product approvals are expected to drive market growth. For instance, in June 2020, Philips launched CL Fetal and Maternal Pod and Patch, an obstetrics monitoring solution to support clinicians and expectant mothers during COVID-19.

Increasing Government Initiatives in Developing Countries Regarding Fetal Care is Another Significant Factor Driving the Fetal Monitoring Market

Government initiatives and policies to improve maternal and child health have promoted fetal monitoring in prenatal care. For instance, per the US Department of Health and Human Services, the Maternal, Infant, and Child Health Workgroup under Healthy People 2030 aims to reduce the death and disease rates among women, infants, and children. It focuses on reducing pregnancy-related complications, increasing access to high-quality health care, promoting healthy behaviors, and addressing disparities.

Furthermore, in July 2022, the Indian Government started several initiatives to provide medical and financial support to all pregnant women, including women from economically weaker sectors, during their pregnancy and delivery in Government hospitals. These include Janani Suraksha Yojana (JSY), a demand promotion and conditional cash transfer plan for promoting institutional delivery, and Janani Shishu Suraksha Karyakaram (JSSK), which entitles every pregnant woman to free delivery, including for cesarean section, in public health institutions along with the provision of free transport, medicines, diagnostics, other consumables, diet and blood. The government of India has taken various steps to ensure the availability of all facilities to pregnant women near their homes, specifically at the time of delivery in the country's remote areas, including rural areas of Uttarakhand and Bundelkhand region.

Similarly, in September 2023, NIH launched a US$2 million prize competition to encourage innovation in fetal diagnostic and monitoring technologies. The Rapid Acceleration of Diagnostics Technology (RADx Tech) Fetal Monitoring Challenge called on engineers, scientists, and clinicians nationwide to submit their innovative methods and compete for prizes and added resources to support technology development and clinical impact. The NIH’s National Institute of Biomedical Imaging and Bioengineering (NIBIB), the Bill & Melinda Gates Foundation, and the Eunice Kennedy Shriver National Institute of Child Health and Human Development (NICHD) supported the challenge. Submitted technologies will be assessed at multiple stages as they compete for final prizes.

Such initiatives by government and non-government organizations drive the growth of the fetal monitoring industry.

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Fetal Monitoring Market: Strategic Insights

Fetal Monitoring Market

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  CAGR (2023 - 2031)

  7.60%
• Market Size 2023
  US$ 4.43 Billion
• Market Size 2031
  US$ 7.96 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• NEOVENTA MEDICAL AB
• NATUS MEDICAL INCORPORATED
• SIEMENS HEALTHCARE
• GENERAL ELECTRIC COMPANY
• ANALOGIC CORPORATION
• FUJIFILM SONOSITE
• PHILIPS HEALTHCARE
• OSI SYSTEMS, INC
• MEDTRONIC PLC

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Product

• Ultrasound Devices
• Fetal Monitors
• Telemetry Devices
• Fetal Electrodes
• Others

Portability

• Portable and Non-Portable

Method

• Invasive and Non-invasive

Application

• Antepartum and Intrapartum

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Report Segmentation and Scope:

The “fetal monitoring market” is categorized based on product, portability, method, application, and end user. Based on product, the market is segmented into ultrasound devices, fetal monitors, telemetry devices, fetal electrodes, and others. Regarding portability, the Fetal monitoring market is divided into portable and non-portable. By method, the market is segmented into invasive and non-invasive. By application, the market is segmented into antepartum and intrapartum. Based on end users, the market is segmented into hospitals, obstetrics and gynecology clinics, and home care settings.

Segmental Analysis:

The fetal monitoring market is segmented by product into ultrasound devices, fetal monitors, telemetry devices, fetal electrodes, and others. The ultrasound devices segment held a larger market share in 2022 and is anticipated to register a higher CAGR during 2022–2030. Ultrasound technology provides real-time visualization of the fetus, monitors heart rates, and assesses movements precisely, making it a preferred choice of healthcare providers.

The Fetal monitoring market is segmented into Portable and Non-Portable based on portability. The portable segment held the largest market share in 2022, and the same segment is anticipated to register the highest CAGR during 2022–2030. Portable fetal monitoring devices excel in accessibility and mobility, enabling healthcare providers to perform assessments in various settings, including patient's homes and outpatient care, which are more accessible and convenient.

On the basis of method, the Fetal monitoring market is categorized into invasive and non-invasive. The non-invasive segment held the largest market share in 2022, and the same segment is anticipated to register the highest CAGR during 2022–2030. Non-invasive methods such as external electronic fetal monitoring offer a safe and comfortable monitoring experience for expectant mothers, eliminating the need for invasive procedures and the associated discomfort and risks.

Based on application, the fetal monitoring market is segmented into antepartum and intrapartum. The antepartum segment held the largest market share in 2022 and is expected to record the highest CAGR during 2022–2030. Antepartum fetal surveillance techniques are frequently used to check the risk of fetal death in pregnancies complicated by existing maternal conditions and complications developed during pregnancy, such as diabetes mellitus and fetal growth restriction).

Based on end users, the Fetal monitoring market is segmented into hospitals, obstetrics and gynecology clinics, and home care settings. The hospitals segment held the largest share of the fetal monitoring market in 2022 and is expected to register the highest CAGR in the market during 2022–2030. The segment's dominance can be attributed to its clinical expertise, advanced infrastructure, and emergency response capabilities. Hospitals offer comprehensive maternity care, ensuring continuous fetal monitoring from pregnancy to childbirth. Additionally, their involvement in research and training contributes to developing monitoring techniques and technologies, consolidating their position as the preferred choice for fetal monitoring during childbirth.

Country Analysis:

Based on geography, the global fetal monitoring market is segmented into Asia Pacific, Europe, Middle East & Africa, North America, and South & Central America. In 2022, North America held the largest share of the global fetal monitoring market. Asia Pacific is anticipated to register the highest CAGR during 2022–2030.

North America's fetal monitoring market is split into the US, Canada, and Mexico. The US is the largest market for fetal monitoring in North America. The advanced healthcare infrastructure of the US, characterized by well-equipped facilities, fosters the widespread adoption of fetal monitoring practices. For instance, as per a CDC report, gestational diabetes impacts 2 % to 10% of pregnancies every year in the US. Therefore, the increasing prevalence of gestational diabetes in the US has led to a greater emphasis on fetal monitoring to manage potential risks and complications associated with this condition.

Moreover, the US is leading technological advancements, continually developing and deploying cutting-edge fetal monitoring devices and techniques. Additionally, ongoing research and development efforts drive innovation in the field, while comprehensive healthcare insurance coverage encounters expectant mothers to prioritize regular prenatal care and fetal monitoring. These factors collectively propel the market and emphasize the significance of fetal monitoring in ensuring healthy pregnancies and childbirth in the US.

Furthermore, according to the data published by the Centers for Medicare & Medicaid Services (CMS), US healthcare spending grew 2.7% in 2021, reaching US$ 4.3 trillion or US$ 12,914 per person. As a share of the nation's GDP, health spending accounted for 18.3%. As per the same source, national healthcare spending in the US is predicted to grow at an average rate of 5.5% per year by 2027 and reach approximately US$ 6.0 trillion by 2027. Healthcare spending is expected to grow 0.8% faster than the GDP per year by 2027. As a result, the healthcare share of GDP is expected to grow to 19.4% by 2027. Thus, the rising government healthcare expenditure will drive the market growth in this region.

Industry Developments and Future Opportunities:

Various initiatives taken by key players operating in the fetal monitoring market are listed below:

1. In June 2023, Neoventa Medical AB partnered with TMS, a distributor and reseller of various medical supplies, to offer advanced fetal monitoring solutions customized to the specific requirements of healthcare providers in South Africa. Such partnerships and collaborations augment industry expansion.
2. In May 2023, Cardinal Health revealed its intention to establish a new distribution center in the Greater Toronto Area (GTA), thus expanding its distribution network to nine strategically positioned locations. This expansion aims to enhance the company's ability to meet the growing demands for medical and surgical products within the Canadian healthcare system.
3. In June 2021, Nuvo Group received the US FDA approval for the expanded utility of its INVU, a prescription-initiated remote pregnancy monitoring platform for adding a new uterine activity module that enables remote monitoring of uterine activity.
4. In May 2021, Medtronic plc launched the SonarMed airway monitoring system. The Sonarmed airway monitoring system uses acoustic technology to check for endotracheal tube obstruction and verify position in real-time, providing clinicians with vital information required to make more informed, life-saving decisions for Neonates and Infants.
5. In 2021, Philips Healthcare launched its Avalon fetal monitoring system, which provides high-quality fetal monitoring and data analysis.
6. In 2020, GE Healthcare partnered with Trice Imaging, Inc. to integrate its ultrasound imaging technology with Trice's cloud-based medical image management platform.

Competitive Landscape and Key Companies:

Becton, Dickinson and Company, Fujifilm Holdings Corporation, Clinical Computer Systems, Inc. (OBIX), Draegerwerk AG & Co. KGaA, Huntleigh Healthcare Limited, CooperSurgical Inc., Koninklijke Philips NV, Natus Medical Incorporated, GE Healthcare, Siemens Healthineers are the prominent fetal monitoring market companies. These companies focus on new technologies, existing product advancements, and geographic expansions to meet the growing consumer demand worldwide.

Fetal Monitoring Market Report Scope

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