Neonatal Care Equipment Market Size, Share | Report, 2028

Neonatal Care Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product [Infant Warmers (Electric Warmers and Non-Electric Warmers), Neonatal Incubators, Convertible Warmers & Incubators, Neonatal Phototherapy Equipment, Respiratory Care Devices (Neonatal Ventilators, Continuous Positive Airway Pressure Devices, Resuscitators, and Others), Neonatal Monitoring Devices (Blood Pressure Monitors, Cardiac Monitors, Pulse Oximeters, Capnographs, Extracorporeal Membrane Oxygenation Systems, and Integrated Monitoring Devices), Neonatal Diagnostic Imaging Devices (Ultrasound Systems, X-Ray Imaging Systems, and Others), and Other Care Equipments], End User (Hospitals, Paediatric & Neonatal Clincs, and Others), and Geography

Publication Month: Jul 2022 | Report Code: TIPRE00029525 | No. of Pages: No. of Pages257 | Category: Medical Device | Status: Published

The neonatal care equipment market is projected to reach US$ 3,103.81 million by 2028 from US$ 1,934.24 million in 2021. It is expected to register a CAGR of 7.0% from 2022 to 2028.

Neonatal care equipment is used to care for small and sick neonates to keep them warm, track their growth, treat jaundice, and provide oxygen or respiratory support. The infants are taken care of by using various devices such as electric warmers, neonatal ventilators, continuous positive airway pressure devices, blood pressure monitors, cardiac monitors, pulse oximeters, capnographs, integrated monitoring devices, and other devices.

The report offers insights and in-depth analysis of the global neonatal care equipment market, emphasizing various parameters, such as market trends, technological advancements, and market dynamics. It also provides the competitive landscape analysis of leading market players and the impact of the COVID-19 pandemic on the market across all major regions.

Strategic Insights

Report CoverageDetails
Market Size Value inUS$ 1,934.24 Million in 2021
Market Size Value byUS$ 3,103.81 Million by 2028
Growth rateCAGR of 7.0% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
No. of Pages257
No. of Tables165
No. of Charts & Figures90
Historical data availableYes
Segments coveredProduct, End User, and Geography
Regional scopeNorth America; Europe; Asia Pacific; Latin America; MEA
Country scopeUS, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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The cost of overall healthcare is surging significantly in North America. The US health system incurred a direct cost of US$ 5.3 billion in 2020. The healthcare system contributed US$ 60 billion in addition to the overall annual costs of the country in 2020. Over 40% of the population in North America canceled their appointments in 2020, and 13% reported that they needed care but did not schedule or receive care. The COVID-19 pandemic altered economic conditions and social behaviors in North American countries. Containment measures enacted by governments to mitigate the spread of disease changed the US healthcare service delivery pattern. According to the Department of Emergency Medicine, in many cities across the country, emergency department (ED) visits decreased by ~40% in 2020. Moreover, outpatient appointments and elective treatments were postponed or replaced by telemedicine practices.

In November 2021, Pfizer Inc. announced the investigational COVID-19 oral antiviral candidate, PAXLOVID. Based on an interim analysis of the Phase 2/3 Evaluation of Protease Inhibition for COVID-19 in High-Risk Patients (EPIC-HR), a randomized, double-blind study of non-hospitalized adult COVID-19 patients who were at a high risk of progressing to severe illness, the PAXLOVID vaccine reportedly reduced hospitalization and death. There were supply constraints related to vaccine production in the initial months of 2021. However, setting up new plants and promoting technological shifts are the strategies that support the production of booster doses in the US and Canada, along with their administration plans.

Premature infants and term infants with medical disorders requiring prolonged hospitalization are prone to hospital-acquired (nosocomial) infection; thus, the adoption of neonatal care equipment in baby care facilities was adversely affected in the wake of the COVID-19 outbreak. Therefore, the financial crisis among the masses in North America is projected to hamper the growth of the neonatal care equipment market

Based on region, the global neonatal care equipment market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America.

Lucrative Regions for Global Neonatal Care Equipment Market

Lucrative Regions for Global Neonatal Care Equipment Market

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Market Insights

Growing Number of Premature and Low Weight Births Drives Global Neonatal Care Equipment Market

The increase in preterm and low-weight births is one of the major factors driving the growth of the fetal and neonatal care devices market. With the increasing number of births, many complications are associated with prematurity, resulting in neonatal deaths. Prematurity is defined as a live birth before 37 weeks of gestation, with a birth weight of less than 2500 g being considered a low weight birth. According to a study published in the July 2020 International Journal of Gynecology & Obstetrics, titled "Global Burden of Preterm Birth," around 15 million babies are born prematurely worldwide, resulting in a global preterm birth  rate of approximately 11%. Additionally, in the US, according to the Centers for Disease Control and Prevention, a November 2021 updated article titled "Preterm Birth" reported that one in 10 children born in 2020 was born prematurely. In addition, the incidence of diseases in newborns also increased. These factors increased the market demand for fetal and neonatal care equipment.

Preterm birth remains a significant public health problem, contributing to 75% of worldwide neonatal mortality. Low birth weight (LBW) is an important but imperfect surrogate for preterm birth when the accurate determination of gestational age is impossible. While there is overlap between preterm births and LBW newborns, those who are both preterm and LBW are at the highest risk for adverse neonatal outcomes. The World Health Organization (WHO) estimates that over 15 million infants are born prematurely yearly, and around 1 million die from premature problems. According to the World Health Organization, more than 60% of preterm births occur in South Asia and Africa. The preterm birth rate in low-income countries was around 12%, compared to 9% in higher-income countries. Approximately 3,519,100 preterm births were recorded in India in 2018. The increasing prevalence of hypothermia in preterm infants is a significant public health concern. The World Health Organization has reported it as a leading cause of neonatal mortality and morbidity. Common causes of premature birth are infections, chronic diseases such as high blood pressure and diabetes, and multiple pregnancies; however, often, no cause is identified. Therefore, the increasing number of preterm births and increased survival concerns have fueled the demand for neonatal care equipment to manage the complications associated with preterm birth.

Product-Based Insights

Based on product, the global neonatal care equipment market is segmented infant warmers, neonatal incubators, convertible warmers & incubators, neonatal phototherapy equipment, respiratory care devices, neonatal monitoring devices, neonatal diagnostic imaging devices, and other care equipments. In 2021, the neonatal respiratory care devices segment accounted for the largest market share. The market position of this segment is due to the rising cases of respiratory distress syndrome in newborns.

End User-Based Insights

Based on the end user, the global neonatal care equipment market is categorized into hospitals, paediatric and neonatal clinics, and nursing homes. The hospitals segment hold the largest market share in 2021.

Global Neonatal Care Equipment Market, by Product– 2022 and 2028

Global Neonatal Care Equipment Market, by Product– 2022 and 2028

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Players in the global neonatal care equipment market adopt organic strategies, such as product launch and expansion, to increase their footprint and product portfolio worldwide.

By Geography, North America is further segmented into the US, Canada, and Mexico. Europe is bifurcated into France, Germany, Italy, the UK, Spain, and the Rest of Europe. APAC is divided into China, India, South Korea, Japan, Australia, and the Rest of APAC. The Middle East and Africa is segmented into South Africa, Saudi Arabia, UAE, and the Rest of the MEA. South and Central America is segmented into Brazil, Argentina, and the Rest of SAM.

Some of the major players contributing in the neonatal care equipment market are GE Healthcare, Koninklijke Philips N.V., Medtronic, Dragerwerk AG & Co. KGaA, Nihon Kohden Corporation, Natus Medical Incorporated, Fisher & Paykel Healthcare Limited, Massimo, BD, and Novos.

Frequently Asked Questions

Neonatal care equipment is a complex medical machine and device for the unique needs of tiny babies. Neonatal intensive care is a unit of the hospital that includes a specialized team of medical professionals and advanced technology devices to provide routine care for premature or sick babies.
The factors driving the growth of the neonatal care equipment market are the growing number of premature and low-weight births and the increasing number of NICU admission.
Decreasing birth rates and high prices of products is expected to restrict the neonatal care equipment market growth during the forecast period.
The neonatal care equipment market majorly consists of the players, such as GE Healthcare; Koninklijke Philips N.V.; Medtronic; Dragerwerk AG & Co. KGaA; Nihon Kohden Corporation; Natus Medical Incorporated; Fisher & Paykel Healthcare Limited.; Masimo; BD; Novos,among others.
The global neonatal care equipment market based on products is segmented into infant warmers, neonatal diagnostic imaging devices, neonatal respiratory care devices, neonatal monitoring devices, neonatal incubators, neonatal phototherapy equipment, and others. In 2021, the neonatal respiratory care devices segment held the largest share of the market. Moreover, the same segment of the neonatal care equipment market is expected to register the highest CAGR of 7.5% from 2022 to 2028.
The global neonatal care equipment market based on regions is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In 2021, the North American area held the largest market share. However, the Asia Pacific region is estimated to grow at the fastest CAGR of 7.6% during the forecast period.

The List of Companies - Neonatal Care Equipment Market

  1. GE Healthcare
  2. Koninklijke Philips N.V.
  3. Medtronic
  4. Dragerwerk AG & Co. KGaA
  5. Nihon Kohden Corporation
  6. Natus Medical Incorporated
  7. Fisher & Paykel Healthcare Limited.
  8. Masimo
  9. BD
  10. Novos
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the neonatal care equipment market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global neonatal care equipment market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
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