Global Neonatal Thermoregulation Market – Analysis, upcoming Trends, Growth Opportunity, and Forecast during 2018 – 2027

Market Research Reports Search Engine (MRRSE) has recently updated its massive report catalogue by adding a fresh study titled “Global Neonatal Thermoregulation Market – Analysis, upcoming Trends, Growth Opportunity, and Forecast during 2018 – 2027”. This business intelligence study encapsulates vital details about the market current as well as future status during the mentioned forecast period of 2027.The report also targets important facets such as market drivers, challenges, latest trends, and opportunities associated to growth of manufacturers in global market for Global Neonatal Thermoregulation Market. Along with these insights, the report provides the readers crucial insights on the strategies implemented by leading companies to remain in the lead of this competitive market.

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There have been considerable advancements in developing monitoring systems for neonates. The companies operating in the neonatal monitoring systems market are developing upgraded and improved versions of products, thus ensuring safety and accuracy. This has induced various tire I and tire II manufacturers of neonatal infant care equipment to offer value added products in order to sustain themselves in the changing dynamics of the neonatal infant care equipment market, and this is true especially for the U.S. Companies in the United States are focused on developing integrated neonatal infant care products that are portable. For instance, U.S. based companies such as GE Healthcare and Natus Medical Incorporated provide high-end technologies such as Giraffe Omni Bed, which is the combination of an incubator and a radiant warmer that allows carrying out a clinical procedure without any disruption.

A limited number of pediatric clinics and specialists is a major problem encountered across various countries. For instance, in the United States, there are inadequate number of neonatal nurses and specialists due to the expenses of additional training. This has created a major shortage in the neonatal care industry in the country. This has resulted in major multi-chain hospitals focusing on increasing their footprint by opening pediatric clinics in various locations in the United States to further increase access to neonatal clinics or children hospitals. For instance, in 2013, Stanford Children’s Health established specialty service centers along with California Pacific Medical Centre in San Francisco and seven more areas in the San Francisco Bay area. The number of neonatologists and NICUs has increased in the United States since 2003. The first NICU was established in 1960s and presently there are more than 1,500 NICUs in the United States. According to JAMA Pediatrics, in 2012, there were about 43.2 NICU admissions per 1000 births. The study between the time periods of 2007-2012 concluded that the NICU admission rate increased from 64.0 to 77.9 per 1000 live births.

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Neonatal incubators are regarded as class II high-risk medical devices by the U.S. FDA. Therefore, such kind of devices are subject to additional controls prior to receiving approval. Imposition of an excise duty of 2.3% on all medical devices is one of the clauses that is likely to restrain the growth of the market. Pre-marketing approval is a lengthy and an expensive process that impacts the growth of neonatal thermoregulation market as it makes the approval process lengthy and launch of new devices takes considerable time. However, such kind of stringent regulatory process is necessary to ensure the safety and efficacy of the medical products.

As per the data provided by Future Market Insights, the North America neonatal thermoregulation market was estimated to be valued at nearly US$ 105 Mn in 2018 and is likely to reach a valuation of nearly US$ 160 Mn in 2027, exhibiting a CAGR of 4.2% during the assessment period of 2018-2027. The Europe neonatal thermoregulation market was estimated to be valued at nearly US$ 97 Mn in 2017 and is anticipated to touch a valuation of nearly US$ 161 Mn in 2027, displaying a CAGR of 5.2% during the period of forecast. 

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