Asia-Pacific Fetal and Neonatal Care Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Fetal and Neonatal Care Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Fetal and Neonatal Care Equipment Market was valued at approximately USD 8,355.50 million in 2020 and is expected to witness a revenue of USD 17,879.18 million in 2026, with a CAGR of 10.48% over the forecast period.

The outbreak of COVID-19 across the world is expected to have an impact on the fetal and neonatal care equipment market. As per ICMR guidelines, 2020, pregnant women are advised to attend routine prenatal checkups at 12, 20, 28, and 36 weeks of gestation unless they meet the self-isolation criteria. For women who have had symptoms of COVID-19, appointments can be postponed until seven days after the start of symptoms, unless they become severe. According to an article published in the BMJ Journal, in November 2020, by scientists working in the University of Tokyo, there was a significant decrease in the intensive neonatal care volume across Japanese acute care hospitals during the COVID-19 outbreak. The study also observed a drop in the number of preterm births (before 34 gestational weeks and between 34–37 gestational weeks). However, as the population has begun to cope with the pandemic, regular prenatal checkups and neonatal care is expected to boost, which in turn is expected to significantly impact the studied market.

The key contributors in the market growth are increasing the number of preterm births and the technological advancements coming up in the care equipment. According to the Australian Institute of Health and Welfare, the preterm birth rate showed a slight increase from 8.2% to 8.7%, 2008 to 2018. In addition, the rate of low birth weight babies was approximately 6.7% in 2018. Additionally, according to an article ‘Health at a Glance: Asia/Pacific 2018’ released by the OECD (Organization for Economic Co-operation and Development) and WHO (World Health Organization), on average, 11 newborns out of 100 had low weight at birth across Asia-Pacific countries and territories. There was a significant regional divide between countries in eastern Asia (such as Chinaand the Republic of Korea) and southern Asia (Bangladesh, India, Nepal, Pakistan, and Sri Lanka). China had the lowest low birth weight rate at 2.3% while Pakistan reported a rate of 31.6%.

Additionally, the technological advancements in infant and maternal care products is also a major driver for the growth of the studied market. Many technologies that monitor an infant’s and the mother’s vital signs like heart-beat are being used in rural areas where access to advanced hospital care is missing. For example, in 2019, the Fetal Monitor iCTG was commercialized in Japan by Melody International. The Fetal Monitor iCTG offers a platform that can allow health workers to remotely check the condition of both mother and fetus via wireless devices that can be easily attached to the abdomen. Additionally, according to the research article published in the Journal of Pediatrics, 2020, nearly 6.2% of infants born with very low Birth Weight in Japan had birth defects which included Chromosomal abnormalities, congenital heart defects, congenital malformation of the digestive system, Trisomy 18, Down syndrome, and cleft palate. Thus, this fact rises the need for genetic counseling as well as prenatal and neonatal care for better outcomes. Hence, the increasing burden of preterm births and novel technologies being introduced in the market are expected to fuel the Asia-Pacific Fetal and Neonatal Care Equipment market growth over the forecast period.

Key Market TrendsThe Incubators in Neonatal Care Equipment Segment is Expected to Show a Significant Growth During the Forecast Period.

Incubators are part of Neonatal Intensive Care Units (NICUs). They are used in conjunction with other equipment and procedures to ensure that neonates in need of additional support have the best environment and continuous monitoring. It may be helpful to think of them as a second womb designed to protect the baby and provide the right conditions for the development of the infant. The incubators are mainly used in conditions, like premature birth, breathing issues due to fluid or meconium in their lungs, infections or effects of gestational diabetes, jaundice, or low birth weight. The growing prevalence of these condition s in the region is the major reason for the growth of the segment. As per the National Health Portal in India, almost three and half million babies are born prematurely in India, which accounts for 13% of births in the country. In 2018, according to WHO, India topped the Top 10 list of countries in the world, with the highest number of preterm births being 3,51,9100 for 2018. With the high burden of preterm births where incubation of the neonates is compulsory, the studied segment is expected to witness steady growth.

Additionally, in September 2019, HAMS hospital, Nepal, launched a state-of-the-art neonatal intensive care unit. HAMS has provided NICU care since its operation in 1997, and it has been upgraded to a 10-bed multidisciplinary level III NICU since September 2019, which includes two isolation beds and two step-down beds, and includes 3 ventilators, 4 incubators. Thus, the growing need for incubators due to the prevalence of preterm births and other conditions and the increasing research and launches in the region is anticipated to boost the segment growth over the forecast period.

Competitive Landscape

The Asia-Pacific Fetal and Neonatal Care Equipment Market is moderately competitive. The key players in the studied market are Atom Medical Corporation, Beckton, Dickinson and Company, Dragerwerk AG & Co. KGaA, GE Company (GE Healthcare), Koninklijke Philips NV, Masimo, Natus Medical Incorporated, Phoenix Medical Systems (P) Ltd, and Vyaire Medical. The key players are evolving through various strategies such as acquisitions, collaborations, and new product launches to secure the position in the global market. For instance, in April 2019, InnAccel launched SAANS, which is an infrastructure-independent, portable, neonatal CPAP system built to provide breathing support to critically ill neonates with Respiratory Distress Syndrome (RDS) in resource-poor settings and during transportation.

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Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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