Australia Neonatal and Prenatal Devices Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Australia Neonatal and Prenatal Devices Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Australia Neonatal and Prenatal Devices Market is expected to register a CAGR of nearly 4.5% during the forecast period. The major factors for the growth of the market include the rising incidence of preterm births and increasing awareness for prenatal and neonatal care.

Preterm births are quite common in the country. According to a research article by Jonathan Morris et al., published in The Australian and New Zealand Journal of Obstetrics and Gynaecology (ANZJOG) 2020, in 2017, in Australia, about 8.7% of babies were born preterm and this rate was higher than in 2010 which was 8.4%. Therefore such an increase translates approximately to an extra 920 babies annually being born preterm. Thus the growing burden of premature babies is expected to increase the demand for incubators which shows positive impact on the market. Thus, owing to the above-mentioned factors it is expected to drive market growth during the forecast period.

Key Market TrendsUnder Product Type Incubators Sub Segment is Expected to be Fastest Growing Market Over the Forecast Period

The neonatal incubators are often necessary for infants. The infants need respiratory support, ranging from extra oxygen to continuous positive airway pressure (CPAP) or mechanical ventilation. The temperature regulation of infants is among the major factors to be controlled in the neonatal incubator cases. The companies have varied devices on several parameters, among which temperature regulation is very important, as severe temperature differences lead to neonate heat loss, hypothermia, and apnoea, which are closely related to airflow and air velocity.

According to the Australian Institute of Health and Welfare, in 2017, in Australia, around 2,924 babies died in the perinatal period, 2,173 were stillbirths and 751 were neonatal deaths. Therefore, a high number of preterm births is further boosting segment growth. Therefore the market is expected to witness significant growth over the forecast period.

Competitive Landscape

The Australia Neonatal and Prenatal Devices Market is consolidated competitive. Some of the market players are GE Healthcare, Getinge AB, Koninklijke Philips NV, Masimo, Medtronic PLC, Natus Medical Incorporated, Phoenix Medical Systems (P) Ltd, and Vyaire Medical.

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