Neonatal and Prenatal Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Neonatal and Prenatal Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The neonatal and prenatal devices market is expected to register a CAGR of 6.5% over the forecast period, 2022-2027.

The COVID-19 pandemic has significantly impacted the neonatal and prenatal devices market. According to an October 2020 single-center study with the title, “The effect of the COVID-19 pandemic on maternal health due to delay in seeking health care: Experience from a tertiary center”, published in the International Journal of Gynecology and Obstetrics, 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. Also, according to a July 2020 report published in the Gynecologic and Obstetric Investigation, infection with COVID-19 during pregnancy increases the risk of pregnancy problems such as preterm birth, preterm premature rupture of the membranes, and, in rare circumstances, maternal mortality. Thus, the market is predicted to rise due to the increased need for care.

The major factors for the growth of the neonatal and prenatal devices market include the rising incidence of preterm births, increasing awareness of prenatal and neonatal care, and government initiatives to provide better care for prenatal and neonatal infants.

Babies are prone to various health risks, while low-weight birth is when babies are born weighing less than 5.8 pounds. Preterm births are one of the major factors responsible for low-weight births. Preterm and low-weight babies are prone to various medical conditions and infections, and in the treatment of these diseases various neonatal and prenatal devices are used, which is expected to fuel the growth in the market over the forecast period of the study. For instance, as per a research study published in July 2020 titled “Global Burden of Preterm Birth”, every year, about 15 million babies are born preterm around the world, with diseases global preterm birth rate of about 11%. Similarly, according to the European Union Research and Innovation Magazine’s report of July 2020, approximately 500,000 premature babies are born every year in Europe, and the number of premature babies in the region is increasing due to the increasing prevalence of diabetes and obesity among the women along with the rise in multiple births due to the fertility treatments, and these factors will add to the growth of the studied market.

Further, according to the Centers for Disease Control and Prevention (CDC) data updated in November 2021, preterm birth affected 1 of every 10 infants born in the United States in 2020, and these babies are at a higher risk of death and disability. These babies require specialized care. Hence, the demand for neonatal and prenatal devices is expected to grow exponentially.

In addition, rising key market initiatives by the market players are also expected to drive market growth due to the rise in adoption. For instance, in May 2020, Dragerwerk AG & Co. KGaA launched the Evita V600 and V800, as well as the Babylog VN600 and VN800, devices for acute care ventilation of adults and preterm babies, and the devices were made available for purchase all over the world.

However, low birth rates in developed countries and lack of awareness and economic constraints in developing countries are the major factors hindering growth in neonatal and prenatal devices.

Key Market TrendsIncubators Segment is Anticipated to have a Highest Share in the Studied Market Over Forecast Period

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 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. In the emerging markets, the growing focus is being seen on low-cost alternative neonatal incubators, such as MiraCradle and Embrace Nest in India, which are much cheaper than the incubators' original cost, and thus could be more affordable to hospitals and patients in several places across the country.

Several companies are engaged in conducting promotional activities to introduce unique infant incubators with improved efficacy. For instance, in April 2022, nearly two hundred portable incubators that were developed by utilizing technology co-invented by a Stanford MBA more than 10 years ago, were sent to Ukraine to offer life-saving warmth to babies born prematurely in hospitals and bomb shelters. Similarly, Dräger's new Ponta and Ambia ceiling supply systems, which went into effect on September 30, 2021, give hospitals a great deal of flexibility when designing workstations that support particular clinical requirements in the operating room, ICU, and NICU.

The increasing number of preterm births is further boosting segment growth. With that, the market is expected to witness a high CAGR over the forecast period.

North America is Expected to Dominate the Market Over the Forecast Period

North America is expected to hold a major share in the neonatal and prenatal devices market and will 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. In the United States, the value-based healthcare model has led to the development of highly specialized NICU centers, with the rise in the number of devices from the United States Food and Drug Administration (USFDA).

Moreover, the presence of major key players operating in the industry is boosting the growth of the neonatal and prenatal devices market over the forecast period. The presence of prominent players results in more product approvals and developments. For Instance, in June 2021, Nuvo Group received the United States Food and Drug Administration approval for the expanded utility of its INVU, a prescription-initiated remote pregnancy monitoring platform to add a new module that enables remote monitoring of uterine activity.

Furthermore, a surge in the number of neonatal fetal deaths in Canada will likely supplement the market growth over the analysis period. For instance, as per data published by the World Health Organization, updated in 2022, the neonatal mortality rate is 3.18 per 1000 live births in Canada and 3.38 per 1000 live births in the United States of America in 2020. Such a high burden of deaths creates the need for neonatal and prenatal devices in the region and is thus, expected to drive the growth of the market.

Thus, given the abovementioned factors, the market is expected to witness significant regional growth over the forecast period.

Competitive Landscape

The market studied is a consolidated market, owing to the presence of various small and large market players. Some of the market players are Atom Medical Corporation, 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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