Neonatal and Prenatal Devices Market 2018-2023 with Upcoming Trends and Market Opportunities for Key Players Like BECTON, DICKINSON AND COMPANY, COOPER SURGICAL, DRAGERWERK AG & CO. KGAA, FISHER & PAYKEL HEALTHCARE LIMITED, FUJIFILM SONOSITE

The global neonatal and prenatal devices market is expected to register a CAGR of 6.5% during the forecast period of 2018 - 2023. North America is anticipated to dominate the market during the forecast period owing to the growing awareness about prenatal and neonatal care equipment in the region.

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Rising Incidences of Preterm Births
According to WHO data, every year, an estimated 15 million babies are born preterm (before completing 37 weeks of gestation), and this number is rising continuously. Preterm birth complications are the leading cause of death among children under five years of age and accounted for approximately 1 million deaths in 2015. Three-quarters of these deaths could have been prevented with current, cost-effective diagnosis, and treatment. The rising incidence of preterm birth and associated high death rate has augmented the demand for prenatal diagnosis, which is likely to drive the demand for neonatal and prenatal devices globally. Additionally, increasing awareness for prenatal and neonatal care, investment from key players in the development of innovative prenatal diagnostics and monitoring devices, and government initiatives to provide better care for prenatal and neonatal infants are likely to drive the market for neonatal and prenatal devices globally.

Key Developments in the Market
• November 2017: Warmilu Inc. developed a portable, user-friendly incubator blanket, which could prove a potential lifesaver to thousands of pre-term babies.
• November 2017: FUJIFILM SonoSite, Inc. launched a full-suite pediatric solutions portfolio, complete with digital radiography (DR), healthcare IT and point-of-care ultrasound.

Major players:
BECTON, DICKINSON AND COMPANY, COOPER SURGICAL, INC., DRAGERWERK AG & CO. KGAA, FISHER & PAYKEL HEALTHCARE LIMITED, FUJIFILM SONOSITE, INC., GENERAL ELECTRIC COMPANY, KONINKLIJKE PHILIPS N.V., MEDTRONIC, NATUS MEDICAL INCORPORATED, AND SIEMENS HEALTHCARE GMBH, amongst others.

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Low Birth Rates in Developed Countries
Developed countries, such as the United States and other European countries have lower fertility rate, and indications are that the rate is only going to decrease over the coming years. In 2016, the United States recorded the lowest fertility rate. There were 62 births per 1,000 women aged 15 u2014 44, a decline by 1% from 2015. The factors such as changing lifestyle in developed countries, more focus on career among women, etc., are responsible for the low birth rate in the developed nations. The low birth rate will result in lesser demand and hence, can work as a major restraint for the market. Additionally, lack of awareness and economic constraints in developing countries is further restricting the growth of the market.

North America is the Largest Market
North America is the largest market for global neonatal and prenatal devices owing to high preterm birth rate coupled with growing awareness regarding prenatal care, which is augmenting the demand for neonatal and prenatal devices in the region. In terms of growth, Asia-Pacific is the fastest growing region due to growing birth rate in developing countries and adoption of advanced neonatal care devices in healthcare sectors of the region.

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