Global Fetal and Neonatal Equipment Market Is Well Poised For Growth Till 2025
The market is expected to witness a CAGR of 7.4% to touch $9.06 billion in the forecast period 2019 - 2025
Bangalore, India, May 24, 2019: With its recently published study “Fetal and Neonatal Equipment Market – Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global fetal and neonatal equipment market is expected to grow at a steady rate during the forecast period 2018 – 2025. WHO estimates suggest that there are about 15 million babies born, only having completed 37 weeks of gestation. The clinical aspects of fetal and neonatal care is the most important aspect during the diagnosis and monitoring process. There are various parameters classified to examine fetal safety and equipment’s specification together. The American Institute of Ultrasound in Medicine and the American College of Obstetricians and Gynaecologists have classified standard care of diagnosis and treatment care for new born babies. They recommend doctors to follow proper guidelines and clarifications with accurate documentation and quality control.
The market is well organized and has dynamic features due to high acceptance of technological product in the market. With the growing opportunity and government support; markets have witnessed increased demand in advanced fetal and neonatal equipments. The availability of cost-effective equipment and proven solutions to minimize the conditions causing fetal and maternal deaths has helped to gain advantage over the new products in the market. Most of the companies offering solutions (complex machines and monitoring machines) include specific treatments and supplies. There are mechanical ventilators, oxygen and medication supplies that include temperature monitoring, heart rate, blood pressure, oxygen and carbon dioxide levels. There are various devices listed in NICU units: heart rate monitor, blood pressure monitor, temperature, pulse oximeter, transcutaneous oxygen/carbon dioxide monitor, ultrasound, X-ray, computed tomography (CT), magnetic resonance imaging (MRI), endotracheal tube, continuous positive airway pressure, and extracorporeal membrane oxygenation (ECMO).
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One of the recent developments in this market is the approval of a non-invasive fetal monitoring system (MERIDIAN M110) from a pureplay vendor MindChild Medical Inc. In 2018, Philips launched Avalon beltless solutions for continuous fetal and maternal monitoring and in 2017, the company received FDA approval for a new eL18-4 transducer.
The healthcare facilities are currently targetting to provide maximum focus towards diagnostic procedures and offer treatment to patients suffering from various chronic diseases. Further, the hospitals, diagnostic centers, and other healthcare facilities are targetting to improve their operational efficiencies and focus on creating a smooth environment for both, patients and radiologists. Majority of the vendors have established their R&D and manufacturing facilities in developing countries to target the upcoming market growth. Emerging countries such as India and China have huge potential opportunity for medical imaging industry due to presence of large pool of patients and increasing disposable income. The companies are focusing on developing innovative products, and most of them are trying to implement technology with high investment in R&D.
In North America, the US and Canada are the leading countries that is heavily contributing towards the revenue. Europe is the second leading region with a maximum market share in the fetal and neonatal equipment market. APAC has created opportunity for vendors to invest and establish manufacturing facilities and leverage their business with a strong focus in developing healthcare facilities and has supportive funds from the governments. The increased demand for better services among patients and the increased life expectancy are expected to boost healthcare investments in the region. The urban areas in APAC have witnessed the use of portable technological devices by healthcare providers.
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“Advanced fetal and neonatal equipment have proven effective in all aspects that occur during pregnancy or first few months after birth. Circulatory and pulmonary changes are the most common and critical that may continue up to 6 weeks from birth. NICU units are well equipped with branded equipment and have set standards to treat all type of conditions. There is an increased demand of fetal and neonatal systems by new multi-speciality and paediatric hospitals – showing an appositive trend on sales and adoption. Also, initiatives and support by governments in developing nations is expected to drive the market as they have made high investments in hospitality, infrastructure, and schemes for fetal and infant care. In addition, non-invasive and non-voltage equipment are upsurging in the market to ensure high quality neonatal care,” pointed out Mohammed Azhar, Senior Research Analyst (Research – Healthcare) at Infoholic Research.
Key insights of the report include:
- Major Product Areas:
- Fetal Care Equipment
- Neonatal Care Equipment
- Key end-users:
- Pediatric Hospitals
- NICU Centers
- Key regions:
- North America
- Industry outlook: Market trends, drivers, restraints, and opportunities