What's driving the Neonatal Infant Care Market trends? Medtronic, Phoenix Medical Systems, Atom Medical, Fisher & Paykel Healthcare, International Biomedical, Ibis Medical, Natus Medical, GE Healthcare, Dr?gerwerk and Nice Neotech Medical Systems
The expansion of pediatric clinics and neonatal intensive care units globally will provide a high impact rendering factor for market growth. In developing countries, it is observed that neonatal intensive care units and pediatric clinics are increasingly being established. These centers are installing technologically advanced equipment in order to provide superior quality treatment and diagnosis for enhancing the overall clinical outcomes. These units are embedded with miniature cardio-respiratory monitor, ventilator, oxygen supply built, pulse oximeter and IV pump into its frame. As a result, increasing number of pediatric clinics and neonatal intensive care units will prove beneficial for market growth.
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Some of the notable industry players operating in the neonatal infant care market are Medtronic, Phoenix Medical Systems, Atom Medical, Fisher & Paykel Healthcare, International Biomedical, Ibis Medical, Natus Medical, GE Healthcare, Dr?gerwerk and Nice Neotech Medical Systems.
Neonatal Infant Care Market is expected to exceed USD 3.6 billion by 2025. The increasing technological advancements in neonatal infant care devices and growing rate of premature births will boost neonatal infant care market growth over the analysis timeframe.
Some major findings of the neonatal infant care market report include:
- Premature birth rate has exclusively increased over the past few years that is considered as the major cause of infant mortality
- Development of technologically advanced neonatal devices by various industry players offer efficient care to babies that results in enhanced clinical outcome
- North America region registered the maximum revenue share in 2018 owing to increasing product approvals from regulatory authorities. Also, the availability of superior quality infant care devices has resulted in highest revenue generation.
- Neonatal hearing screening segment is anticipated to witness fastest growth over the analysis timeframe owing to advantages of early diagnosis i.e., babies who have hearing problems or are deaf can be treated and cured effectively
The hospitals segment is anticipated to witness more than 6.0% growth throughout the analysis timeframe. The rising preference of patients for treatment in hospitals due to the availability of qualified healthcare professionals and comfort will prove beneficial for segment growth. Moreover, increasing government expenditure on developing and upgrading healthcare infrastructure will result in the installation of neonatal infant care units. As a result, the availability of well-equipped infrastructure in hospital premises coupled with rising cases of preterm births will benefit the segment growth.
Germany neonatal infant care market accounted for more than 20.0% revenue share in 2018 amongst other European countries. Significant revenue share can be attributed to rising cases of late parenthood, multiple pregnancies with artificial inseminations, obesity and high blood pressure. Moreover, a strong foothold of industry players and product approval results in the development of superior quality instruments that enhance overall healthcare outcomes. Thus, such scenario further augments the demand for superior and innovative equipment, thereby escalating country growth.
Companies are making large investments in technological innovations to ensure the availability of accurate equipment. Some of the notable industry players operating in the neonatal infant care market are Medtronic, Phoenix Medical Systems, Atom Medical, Fisher & Paykel Healthcare, International Biomedical, Ibis Medical, Natus Medical, GE Healthcare, Dr?gerwerk and Nice Neotech Medical Systems. Various industry players are developing innovative solutions and implementing various strategies such as collaborations, acquisitions, geographical expansions, mergers and product launches in order to garner maximum market share and sustain in the competition. For instance, in August 2018, Fisher & Paykel Healthcare launched F&P 950 Heated Humidification System, a new neonatal respiratory care device. Such product launches will help the company to grab higher market share.
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