Neonatal Medicine Market Share Report 2022 - 2030

Global neonatal medicine market is expected to be worth roughly USD 7.2 Billion by 2030, growing at a CAGR of more than 7.2% during the projected timeframe of 2022-2030, according to Ameco Research

Rapid technological advances in the healthcare sector are driving the growth of the neonatal medicine market. Additionally, increasing investments by governing authorities and healthcare professionals are expected to augur well for the growth of the neonatal medicine market across the globe in the coming few years. Furthermore, the high birth rate in developing countries is expected to boost market growth through 2030.

Neonatal childbirth, also known as premature births, is a condition in which the infant is born below gestation and has reached 37 weeks. Neonatal care is the extra care provided to a prematurely born baby following birth for the first four weeks. Born premature babies typically have some health difficulties, such as trouble inhaling and putting on weight, as well as requiring special medical care, thus they are frequently maintained in the intensive care unit for newborns (NICU). The goal of neonatal medicine is to assess and evaluate the infant as he or she transitions from intrauterine to extrauterine life, to provide a secure and healthy secure environment for the infant, and to thoroughly monitor and compare the newborn baby for regular versus structural and functional abnormalities and pharmacological intervention for illnesses.

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Global Neonatal Medicine Market Dynamics

The increased incidence of hypothermia in premature newborns is a serious public health problem, and the Global Health Organization has identified it as being one of the top causes of neonatal morbidity and mortality. Infectious diseases, chronic illnesses such as diabetes and high blood pressure, and numerous pregnancies are common causes of premature birth; however, no explanation is always found. There may also be a hereditary component. A broader understanding of the reasons and mechanisms will assist in the development of perinatal mortality prevention methods. As a result, rising preterm birth rates and concerns about their survival have increased the demand for neonatal medicine to handle the issues associated with neonatal births. These factors will accept a rise in the demand for the neonatal medicine market over the forecasting years.

The rising frequency of newborn children and the increased frequency of newborn jaundice throughout regions are important factors projected to drive global demand for the neonatal medicine market. Demand for neonatal medicine has been increasing at an exponential rate, due to a rise in pregnancy complications, which has resulted in greater problems and growing demand for sophisticated jaundice control items. Rising serious complications such as pre-eclampsia, infections, and intrauterine growth retardation, as well as correlating efforts to increase neonate and maternal survival rates, and burgeoning advances in the field of neonatal infant care, are major factors driving annual revenues of the neonatal medicine market.

Market Competitors

Some of the most notable worldwide neonatal medicine market players are Atom Medical Corp, Fisher & Paykel Healthcare Limited, Ibis Medical, Natus Medical Incorporated, Koninklijke Philips N.V., Drägerwerk AG & Co. KGaA, GE Healthcare, Medtronic, International Biomedical, Phoenix Medical Systems Pvt Ltd, and Nice Neotech Medical Systems Pvt. Ltd.

Market Segmentation

Ameco Research has fragmented the global neonatal medicine market by product type, and end-use. In terms of product type, the market is sub-divided into thermoregulation devices, vision screening, phototherapy devices, monitoring systems and others. By product type, the thermoregulation devices segment is expected to gain a strong foothold in the neonatal medicine market over the forecasting years. Since thermoregulation is an essential aspect in the treatment of ill neonates as well as newborns, it is gaining substantial relevance in the worldwide neonatal medicine industry. Newborn incubators, heaters, & neonatal cooling equipment are examples of thermoregulation devices.

Based on the end-use, the segment is sub-categorized into hospitals, nursing homes, and pediatric & neonatal clinics. According to the neonatal medicine market forecast, the nursing homes segment is estimated to grow significantly in the market over the next few years.

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Regional Outlook

The global neonatal medicine market is divided into different regions: Europe, Asia-Pacific, Latin America, North America, and the Middle East and Africa. According to the neonatal medicine industry analysis, North America will be one of the most profitable markets throughout the projection period, with the United States leading the way. High healthcare expenditure is one of the primary elements driving the region's market rise. The United States remains one of the world's major markets for neonatal medicine and is likely to generate significant income in the coming few years. Favorable healthcare legislation, in conjunction with high per inhabitant healthcare spending, had produced a favorable climate in the United States for the development of neonatal baby care equipment. Moreover, larger companies such as Dickinson and Company, Becton, GE Healthcare, and Natus Medical Inc. are indeed contributed to the country's market expansion. These organizations' strategies include new releases and growth, which will continue to promote general growth in the United States.

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This release was published on openPR.