Neonatal Monitoring Equipment Market - Requirement for Monitoring Complications in Premature Neonates Continues to Drive Sales
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Prominent players operating in the market such as Medtronic Plc, Natus Medical, Inc., Koninklijke Philips NV, and others, are upgrading their portfolio to make it cost-effective, maintain hospital-to-home point-of-care (PoC) continuum, and incorporate value-added services.
North America continues to stay at the vanguard of the neonatal monitoring equipment market, with an estimated market value share of over one-third through the period of forecast. Rate of premature birth has been steadily rising in North America over the past couple of years, according to the CDC, which in turn has increased the number of NICU admissions, thereby creating demand for neonatal monitoring equipment.
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Speciality of hospice and palliative medicine has gained significant recognition in North America, with attendant increase in training programs at both academic and clinical level. The imperative role of palliative care in improving growth development outcomes in newborn babies has been highly recognized in the region’s NICUs for reducing the infant and neonatal mortality rates.
Ventilators are set to prevail as preferred product among end-users of neonatal monitoring equipment, and will continues to account for bulk value shares of the market. Recent FDA approvals of new, patient-triggered ventilators, and neurally-adjusted ventilator assist (NAVA), for non-invasive and invasive ventilation related to neonates will augur well for sales of ventilators in the forthcoming years. Additionally, availability of several ventilation modes and strategies for assisting ventilation optimization, and preventing ventilation-induced lung injury will fuel ventilator sales.
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Standalone modality of neonatal monitoring equipment will continue to spearhead the market in terms of value share. This is mainly because standalone devices enable clinicians in offering care delivery even while the hospital’s electronic medical records are in their downtime. However, relatively faster sales expansion has been foreseen for portable neonatal monitoring equipment through 2028. Manufacturers are offering cost-effective portable neonatal monitoring equipment that enable uninterrupted monitoring at the bedside and during in-hospital transport. Growing development of easy-to-use, compact and light portable devices will further fuel their sales in the upcoming years.
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