Global Neonatal Care Equipment Market - 2023-2030

Global Neonatal Care Equipment Market - 2023-2030

Global Neonatal Care Equipment Market reached US$ XX million in 2022 and is expected to reach US$ XX million by 2030, growing with a CAGR of XX% during the forecast period 2023-2030.

A neonatal intensive care unit (NICU) is an intensive care unit for recently born babies who require high support. Often, babies in the neonatal intensive care unit of a hospital will have been born before 28 weeks of pregnancy but sometimes they are admitted to the NICU because they are very unwell after they are born. The NICU is equipped with various types of equipment that help doctors and nurses provide the necessary care for the babies.

Market Dynamics: Drivers and Restraints

Rise in technological advancements

The constant technological advancements in neonatal monitors, including improvements in connectivity and ease of use in home settings, are driving the demand for neonatal care equipment.

For instance, in September 2023, Mylab Discovery Solutions, a leading innovator in healthcare diagnostics, announced an advancement in newborn screening (NBS) by introducing its patent-pending Point-of-Care device named MyNeoShield for newborn screening. This innovative device brings the power of newborn screening directly to healthcare providers, allowing for quick and efficient testing at the point of care. With Mylab’s device, newborn screening results can be obtained within just 4 hours on the spot compared to traditional techniques that take up to 24 hours post-sample receipt which may take an additional 48-72 hours.

Furthermore, the global neonatal care equipment market is also driven by launching new and improved products, and investing more in research and development, Improved healthcare services, medical devices, neonatal monitoring systems, and phototherapy equipment also help the market to grow during the forecast period.

Market Dynamics: Restraint

The global neonatal care equipment market has been hampered by various factors which indeed declined the market growth during the forecast period. In contrast, some of the factors like the stringent regulatory framework about the approval of new medical devices, in tandem with the high costs associated with advanced neonatal care equipment and others hinder the market growth during the forecast period.

Segment Analysis

The global neonatal care equipment market is segmented based on product type, end user and region.

The thermoregulation equipment from the product type segment accounted for approximately 43.5% of the neonatal care equipment market share

The thermoregulation equipment from the product type segment accounted for approximately 43.5% and is expected to be dominated during the forecast period. Thermoregulation equipment is used to maintain a patient's body temperature during medical procedures. Infant warmers and incubators play an important role which providing thermal support and keeping newborns warm. Owing to the novel product launches, technological advancements and others these segments to grow during the forecast period.

For instance, in May 2022, Nottingham UK-based mOm Incubators received regulatory approval for its first product, the mOm Essential Incubator. The device will be used in pilots within the NHS to reduce short-term admission to Special Care and maintain a core temperature of babies being moved around hospital sites.

Moreover, in November 2021, Neotech Medical Systems Pvt. Ltd., a medical equipment manufacturer in India, launched an infant transport incubator that is designed to circulate warm air at a temperature set by the operator while transporting preterm infants in severe condition to hospitals by ambulance.

Geographical Analysis

North America accounted for approximately 38.4% of the market share in 2022

North America is estimated to hold about 38.4% of the total market share throughout the forecast period, owing to a huge demand for technologically advanced products, new product launches and FDA clearance. Also, the value-based healthcare model has led to the development of well-equipped NICU centres along with an increasing number of approvals for these devices from the FDA.

For instance, in August 2023, Medical and laboratory products provider Cardinal Health introduced its next-generation medical device, NTrainer System 2.0, for premature and newborn infants. Designed for improving neonatal feeding, the NTrainer System 2.0 is claimed to be the only US Food and Drug Administration (FDA) Class II biofeedback device designed for supporting newborns and infants born prematurely develop their non-nutritive sucking (NNS) skills that are required for independent oral feeding.

Moreover, in June 2021, Nuvo Group received supplemental 510 (k) approval from the FDA to add a new module for uterine activity to its INVU system, a wearable pregnancy monitoring device. Such initiatives are expected to boost market growth in the U.S.

COVID-19 Impact Analysis

The COVID-19 pandemic significantly impacted the market disrupting medical services, reducing NICU admissions and newborn resuscitations, and affecting the sales of neonatal infant care devices due to the lockdown imposed.

Market Segmentation

By Product Type
• Thermoregulation Equipment
Infant Warmers
Incubators
• Phototherapy Equipment
Neonatal Monitoring Devices
Blood Pressure Monitors
Cardiac Monitors
Pulse Oximeters
Capnography
Integrated Monitoring Devices
• Respiratory Devices
Neonatal Ventilators
Continuous Positive Airway Pressure (CPAP) Devices
Oxygen Analyzers and Monitors
Resuscitators
Others
• Others

By End User
• Hospitals
• Ambulatory Surgical Centers
• Clinics
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the market include GE Healthcare, Drägerwerk AG & Co. KGaA, Medtronic plc, Masimo Corporation, Cardinal Health, Vyaire., Ambu A/S, Inspiration Healthcare Group plc, Phoenix Medical Systems (P) Ltd, Fisher & Paykel Healthcare Limited among others.

Key Developments

 In May 2023, Sibel Health received the U.S. FDA 510 clearance for its Anne One neonatal and infant monitoring platform. It is a wireless, clinical-grade, and continuous monitoring solution developed specifically for adults, infants, and neonates.

 In July 2020, Coeo Labs Pvt Ltd, a medical equipment manufacturer in India, collaborated with doctors of the Consortium of Affordable Medical Technologies (CAMTech) in the U.S., to develop a portable neonatal Continuous positive airway pressure therapy (CPAP) system. The portable CPAP intends to provide respiratory support to neonates with respiratory distress syndrome (RDS) during transportation.

 In June 2020, Koninklijke Philips N.V., a technology company that develops and manufactures medical systems and consumer electronics products in the Netherlands, stated the launch of Avalon CL Fetal and Maternal Pod and Patch, a remote monitoring device that allows continuous monitoring of maternal and fetal heart rate.

Why Purchase the Report?
• To visualize the global neonatal care equipment market segmentation based on product type, end user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analysing trends and co-development.
• Excel data sheet with numerous data points of neonatal care equipment market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global neonatal care equipment market report would provide approximately 53 tables, 50 figures and 175 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies