Neonatal Incubators to Dominate the Global Neonatal Thermoregulation Market in Terms of Revenue in the Next 10 Years
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International Companies Targeting Emerging Economies for Lucrative Opportunities in the Neonatal Thermoregulation Market
The companies involved in the manufacturing and marketing of neonatal care equipment are shifting their focus towards emerging economies such as China, India, South Africa, Brazil and Mexico. Multinational companies are especially targeting the Asian markets for developing neonatal infant care equipment due to a significant demand and a potentially large customer base. For instance, in 2013, Koninklijke Philips N.V. entered the mother and childcare business segment, where it manufactures infant warms and incubators at affordable prices as compared to other market players in India. In December 2013, the GE Healthcare designed models to improve quality of neonatal care. The company launched two products for neonatal care in India, the new Lullaby Warmer Prime, and Lullaby Resus. The cost was about 40% lower than the existing offerings from GE, so that the products are easily accessible in low-middle income economic countries. Companies in the Asia Pacific region are developing innovative solutions to meet the growing needs of the neonatal care and treatment market. Companies, such as MTTS Asia and Pluss Advanced Technologies Pvt. Ltd. have developed innovative products, such as Miracradle and MTTS Firefly, catering to the demand for cooling systems in the region.
Global Neonatal Thermoregulation Market: Segmentation and Forecast
The global neonatal thermoregulation market is segmented on the basis of product type, modality, end user and geography.
By product type, the neonatal incubators segment was estimated to be valued at nearly US$ 250 Mn in 2017 and is likely to reach a valuation of nearly US$ 410 Mn in 2027, exhibiting a CAGR of 5.2% during the period of assessment 2017-2027.
By modality, the closed segment was estimated to be valued at nearly US$ 270 Mn in 2017 and is anticipated to witness a CAGR of 4.7% during the period of forecast.
By end user, the hospitals segment is expected to reach a valuation of nearly US$ 430 Mn in 2027.
By geography, the Asia Pacific neonatal thermoregulation market was estimated to be valued at nearly US$ 170 Mn in 2017 and is likely to reach a valuation of about US$ 295 Mn in 2027, exhibiting a CAGR of 5.5% during the period of forecast.
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Global Neonatal Thermoregulation Market: Competitive Landscape
In this report, some of the important companies functioning in the global neonatal thermoregulation market have been profiled in the competitive landscape section. Some of the prominent companies that have been featured include GE Healthcare, Natus Medical Incorporated., Inspiration Healthcare Group plc, Koninklijke Philips N.V., Drägerwerk AG & Co. KGaA, Fisher & Paykel Healthcare, International Biomedical, Ltd., Atom Medical Corporation, Fanem Ltda, Novos Medical Systems, Pluss Advanced Technologies Pvt. Ltd., Weyer GmbH, BabyBloom Healthcare BV and Medical Technology Transfer and Services Asia.
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