Neonatal Intensive Care Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Neonatal Intensive Care Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The neonatal intensive care market is estimated to register a CAGR of 5.5% during the forecast period (2022-2027).

COVID-19 had a huge impact on neonatal intensive care unit services. To stop the spread of COVID-19 many services relating to neonatal care were delayed. Additionally, hospitals were under pressure to treat COVID-19 patients, which was one of the factors preventing hospitals from offering neonatal intensive care services. For instance, as per the report published in 2022 under the title “Effect of the COVID-19 pandemic on deliveries and home-based newborn care in India” the average number of home deliveries attended by Skill Birth Attendant (SBA) across 2021, 2020, 2019, and 2018 were 15,491, 16429.25, 19006.58, and 21317.83, respectively. Furthermore, according to a study published in 2020 under the title, “The effect of the COVID-19 pandemic on maternal health due to delay in seeking health care: Experience from a tertiary center”, inadequate prenatal visits were observed in one-third of the women. Lockdown and fear of infection were the top reasons for delayed health-seeking, resulting in 44.7% of pregnancies with problems.

The high prevalence of preterm birth and advancements in neonatal care devices fuel the market growth. For instance, according to a study published in 2020 under the title “Global burden of preterm birth,” there were around 15 million babies born prematurely around the world, resulting in a global preterm birth rate of about 11%. Furthermore, according to the systemic review published in 2021 under the title “Trends in prevalence of low-birth-weight babies in India” explains that the world's highest prevalence of low birth weight (LBW) was found in South Asia. More than half of LBW babies worldwide, 15% of all births come from Asia. Additionally, in the United States, as per the Centers for Disease Control and Prevention, an article titled 'Preterm Birth,' updated in November 2021, reported that in 2020, one in every ten infants born was premature. Moreover, the incidence of diseases among newborns has also increased. These factors have increased the market demand for neonatal intensive care.

Furthermore, hospitals and neonatal care units are focused on improvisong the neonatal care with more sophisticated systems and adoption of these technological procedures boost the market growth. For instance, as per the article published in 2022 under the title "Driving new technologies in hospitals: association of organizational and personal factors with the readiness of neonatal intensive care unit staff toward webcam implementation", the implementation of webcam technology in neonatal intensive care units (NICUs) enables parents to see their child when the parents are unable to be present at the NICU. The webcam’s use has been gaining greater attention. Lead physicians and lead nursing staff play a key role in the decision of whether to implement webcams. Hence this kind of technological advancement boost the market growth.

As per the aforementioned factors, the neonatal intensive care market is likely to grow over the forecast period. However, lack of awareness and economic constraints in developing countries and decreasing birth rates in developed countries restrain the market’s growth.

Key Market TrendsIncubators Segment is Expected to Cover a Large Market Share Over the Forecast Period

A neonatal incubator is an enclosure in which an infant can be kept in a controlled environment for observation and care. The device may also include a heater, a fan, a container for water to add humidity, a control valve through which oxygen may be added, and access ports for nursing care. It is used in preterm births or for some ill full-term babies to observe and treat them in a stabilized environment. It may additionally be used to evaluate and treat sick neonates.

Increased birth rates, research, and development in the field of neonatal care, and product launches boost the market growth. For instance, as per the article published in 2021 under the title “Newborn low birth weight: do socioeconomic inequality still persist in India?”, important global public health challenges include the prevalence of preterm birth and accompanying low birth weight (LBW). It raised the risk of non-communicable diseases and contributes to increased newborn and child mortality in infancy as well as later in adulthood. The same article pointed out that the mother's nutritional status needs to receive the proper attention. Pregnancy-related education and service users should be made more widely known. Additionally, there is a need to expand the program's reach and public knowledge of antenatal care (ANC). The role of health professionals is crucial in such situations. The LBW of children in India is reduced overall by combining programs on maternal nutrition and maternal health services. These awareness programs lead to market growth.

Technological advancements in the development of low-cost incubators, which is also contributing to the market growth. For instance, in February 2021, a low-cost incubator was developed by scientists from the University of Maryland and conducted a successful clinical trial in India. A standard incubator found in a newborn intensive care unit costs between USD 1,500 and USD 35,000 which is beyond the means of many hospitals in low- and middle-income countries. Public impact research initiated by the students of the University of Maryland has culminated in the successful clinical trial of an incubator that costs only USD 200. As per the factors mentioned above, the incubator segment is expected to grow over the forecast period.

North America is Expected to Dominate the Neonatal Intensive Care Market Over the Forecast Period

North America is expected to hold a major share in the neonatal intensive care market and is likely to continue over the forecast period. This can be attributed to the presence of well-established healthcare facilities and the rise in the demand for advanced healthcare systems. As the number of devices approved by the US Food and Drug Administration has increased, the value-based healthcare model in the US has encouraged the growth of highly specialized NICU centers.

Neonatal care in North America is fueled by the presence of sophisticated systems and proper awareness to take care of both mother and neonate. In June 2022, Children's National Hospital located in Washington D.C ranked No. 5 for best children's hospital nationwide. Children's National won this honor for a sixth consecutive year. In addition, its neonatology program, which provides newborn intensive care, ranked No.1 among all children’s hospitals for the sixth year in a row. These achievements in the healthcare system in the region fuel market growth at a higher pace. Moreover, the increased birth rates in the region boost market growth. For instance, as per the report from the world bank group, the live birth per woman in Canada was 370,506 in 2020 whereas in 2021 the live births were 373,728 reporting a 2% increase of absolute change comparing 2020. As per the factors mentioned above the North America region is expected to witness growth over the forecast period.

Competitive Landscape

The majority of neonatal intensive care instruments and devices are being manufactured by global key players. Market leaders with more funds for research and better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the increase in awareness, that helps in the growth of the market. Major players in the neonatal intensive care market are Becton, Dickinson and Company, Medtronic PLC, Koninklijke Philips N.V, Cook Group, and ICU Medical, Inc. among others.

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