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Fetal and Neonatal Monitoring Devices Market Growth and Drivers
Fetal and Neonatal Monitoring Devices Market
The fetal and neonatal monitoring devices market is experiencing robust growth, projected to increase from $8.22 billion in 2023 to $8.68 billion in 2024, with a compound annual growth rate (CAGR) of 5.6%. Anticipated to continue this positive trajectory, the market is forecasted to reach $10.57 billion by 2028, driven by a CAGR of 5.1%. This growth is underpinned by several key factors.
Preterm Births and Infant Health
A significant driver is the rising prevalence of preterm births and associated low infant body weight, leading to health complications. Preterm births, occurring before 37 weeks of gestation, contribute to various issues such as poor growth, mental retardation, and sensory impairments. With approximately 15 million babies born preterm each year, addressing infant mortality rates propels the demand for advanced monitoring devices.
Healthcare Expenditure Impact
Increasing global healthcare expenditure is pivotal in propelling the fetal and neonatal monitoring device market. The funds allocated to healthcare goods and services, including medical equipment, hospital services, and prescription drugs, directly influence the development and utilization of advanced monitoring devices. Notably, the UK witnessed a 9.4% increase in healthcare spending in 2023, reaching $367.25 billion (£280.7 billion), with a significant portion dedicated to pharmaceuticals and preventive care.
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Innovations Driving Market Growth
Major companies are contributing to fetal and neonatal monitoring devices marketexpansion through innovative devices, such as the Neonatal Care Warmer Babyroo TN300 by Dräger. This device, designed for newborns, especially those born prematurely, offers a controlled and warm environment with features like a pre-warm function, configurable design, and cutting-edge thermoregulation, positioning it as a game-changer in neonatal care.
Wireless Technology Integration
Technological advancements include the integration of wireless technology, enhancing the efficiency of diagnosing and monitoring fetuses and newborns in real-time. Biosensor monitoring devices and wireless fetal heart rate monitoring devices eliminate poor reception of observations, marking a significant leap in monitoring capabilities.
Key Players in the Market
Key contributors to the fetal and neonatal monitoring devices market's growth include GE Healthcare, Fisher & Paykel Healthcare Limited, Philips Healthcare, and other leading companies, fostering innovation and driving advancements in maternal and neonatal care.
Market Segmentation:
The fetal and neonatal monitoring devices market covered in this report is segmented -
1) By Equipment: Fetal, Neonatal
2) By Portability: Portable, Non Portable
3) By Fetal Care Equipment Type: Ultrasound Devices, Fetal Dopplers, Fetal MRI Systems, Fetal Monitors, Fetal Pulse Oximeters
4) By Neonatal Care Equipment Type: Infant Warmers, Incubators, Convertible Warmers & Incubators, Phototherapy Equipment, Respiratory Devices, Neonatal Monitoring Devices, Diagnostic Imaging Devices
5) By End User: Hospitals, Diagnostic centers, Pediatric Clinics, Ambulatory Surgical Centers
Regional Dynamics:
Asia-Pacific emerged as the largest region in the global fetal and neonatal monitoring devices market in 2023, with North America securing the second-largest position. The comprehensive market report encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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Fetal And Neonatal Monitoring Devices Global Market Report 2024from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries:Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
TheFetal And Neonatal Monitoring Devices Global Market Report 2024byThe Business Research Company is the most comprehensive report that provides insights on fetal and neonatal monitoring devices market size, fetal and neonatal monitoring devices market drivers and trends, fetal and neonatal monitoring devices market major players, fetal and neonatal monitoring devices marketcompetitors' revenues, fetal and neonatal monitoring devices marketpositioning, and fetal and neonatal monitoring devices marketgrowth across geographies.The fetal and neonatal monitoring devices market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the fetal and neonatal monitoring devices marketreport and tap into segments with the highest growth potential.
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1. NEOVENTA MEDICAL AB
2. NATUS MEDICAL INCORPORATED
3. SIEMENS HEALTHCARE
4. GENERAL ELECTRIC COMPANY
5. ANALOGIC CORPORATION
6. FUJIFILM SONOSITE
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