North America Fetal and Neonatal Care Equipment Market with Latest Trends and Advanced Technology during 2018 – 2023 along with Top Key Players like: FISHER & PAYKEL HEALTHCARE, GE HEALTHCARE, MEDTRONIC, NONIN MEDICAL

The North America fetal and neonatal care equipment market has been estimated to register a CAGR of nearly 5.2% during the forecast period of 2018u20142023. The fetal and neonatal care is primarily focused towards the child’s health and diseases from the perinatal period to adolescent stage driven by the technological advancement in infant and maternal care products. With advanced healthcare facilities, increased applications, and rising awareness, ultrasound devices are likely to register high market share during the forecast period.

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Increasing Number of Preterm and Low-weight Births
The rise in the preterm and low-weight births of newborns is one of the major factors for the growth of the fetal and neonatal care equipment market. According to the Center for Disease Control and Prevention (CDC), in 2016, preterm births affected about one in every 10 infants born in the United States. Though a decline was observed during the period 2007u20132014, the preterm rate rose continuously for the next two years in the United States. A similar rise in the preterm rate has been observed in Canada and Mexico in the past five years. With the rise of preterm birth numbers, the demand for the rise in fetal and neonatal care equipment also increases, which is likely to drive the market in the region.
Other major factors responsible for the growth of the market are the rise in the technological advancement for infant and maternal care products, the rise in congenital and pregnancy complications due to the sedentary lifestyle, and increased global awareness for prenatal and neonatal care.

Major players-
ATOM MEDICAL CORPORATION, BECTON, DICKINSON AND COMPANY, FISHER & PAYKEL HEALTHCARE LTD, GE HEALTHCARE, KONINKLIJKE PHILIPS N.V., MEDTRONIC PLC, NATUS MEDICAL INCORPORATED, NONIN MEDICAL, INC., PHOENIX MEDICAL SYSTEMS (P) LTD, AND SPACELABS HEALTHCARE, amongst others.

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High Cost Associated with Neonatal Care
The rising cost of neonatal care with the advancement in the medical devices is one of the major factors hindering the prenatal and neonatal care equipment market. In the United States, the average cost of infants hospitalized in the neonatal intensive care units (NICUs) is more than USD 3,000 per day. In addition, the NICU patients’ total healthcare expenditure costs are nearly three times the patient population in NICUs. Thus, this affects a large population, particularly in the developing countries to opt for these services in regular use impeding the growth of this market. Another factor affecting the market is the stringent regulatory policies for new devices approval.

Ultrasound Devices to Hold Largest Market Share
Ultrasound devices are expected to hold the largest market share during the forecast period owing to the rising number of the application of ultrasound during pregnancy and easy accessibility by a large population in North America. The increased awareness among the public along with technological advancements and ease in utility in hospitals, diagnostic centers and clinics, with the ease of portability contributed to the largest share of the fetal and neonatal care equipment market.

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This release was published on openPR.