Fetal & Neonatal Care Devices Market Size, Share, Growth and Industry Analysis by Type (Ultrasound Devices, Fetal MRI, Fetal Monitors, And, Fetal Doppler) By Application (Hospital, And, Clinic), Regional Insights, and Forecast From 2023 To 2030

Updated On: 20 November 2023

fetal & neonatal care devices market REPORT OVERVIEW

• 

• Request a Free Sample to learn more about this report

The global fetal & neonatal care devices market size is US$ 7863.3 million in 2022. As per our research the market is expected to generate US$ 10530 million by 2028, growing at a CAGR of 5.0% during the forecast period.

Fetal and neonatal care devices are specialized medical equipment designed to monitor and support the health and well-being of newborns and infants. These devices include fetal monitors, incubators, ventilators, and neonatal phototherapy equipment. Fetal monitors are used to monitor the health of the unborn baby during pregnancy, while neonatal care devices are used to support the health and development of premature or sick infants. These devices play a crucial role in ensuring that newborns receive the care they need to thrive and grow into healthy children and adults.

These devices can be helpful only if they can be carried from one place to another. Therefore, manufacturers are producing neonatal care devices that are portable as well as compact.  This is considered as the latest trend in the market.   

High prevalence of preterm births and neonatal complications, have increased in the past few decades. Non-invasive prenatal testing (NIPT) is gaining popularity. These factors collectively propel the fetal & neonatal care devices market growth.

COVID-19 Impact: Decrease in Access to Paternal Care During Pandemic Reduced Market Growth

The COVID-19 pandemic has had a significant impact on all the markets across the world. Due to the rapid spread of coronavirus, there was great demand for medical equipment, including neonatal care devices such as ventilators and incubators. As a result, there was acute shortages in some areas. This had a negative impact on the market.

Disruptions in supply chains due to lockdowns and travel restrictions created shortages of critical neonatal care devices in many regions. One of the adverse effects of the pandemic was that it led to decreased access to prenatal care. This is predicted to have long-term health impacts on newborns and infants. All of these reasons led to the downfall of the market during the pandemic period.

LATEST TRENDS

"Production of Compact and Portable Neonatal Care Devices to Increase Market Growth"

Several trends and developments are playing a very crucial role in shaping the future of the market. One such trend is the growing demand for portable and compact neonatal care devices. Many people prefer such devices as they have the advantage of being transported and used in remote or underserved areas. Incorporation of artificial intelligence and machine learning, has led to improved accuracy and effectiveness of fetal and neonatal care devices.

Recently there has been a rise in the adoption of telemedicine and remote monitoring solutions. This is helping the healthcare providers to remotely monitor and manage the health of newborns and infants. Such devices are very helpful in remote areas where access to medical facilities is limited. All of these are considered to be the latest trend in the market.

fetal & neonatal care devices market SEGMENTATION

• 

• Request a Free Sample to learn more about this report

• By Type:

The market can be divided on the basis of type into the following segments:

Ultrasound Devices, fetal MRI, fetal monitors, and, fetal doppler. The ultrasound segments are anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment: Hospital, and, clinic. The hospital segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Increasing Prevalence of Preterm Births and Other Complications to Accelerate Market Growth"

There are several factors that are positively influencing the market growth and development. One such significant factor is the increasing prevalence of preterm births and neonatal complications, in the past few decades. Such complications require specialized medical equipment as well as attention. Fetal & neonatal care devices are of great help in providing such care when required.

 There has been an increasing emphasis on maternal and child health, in developing regions. This is expected to increase the sales of such devices. Numerous technological developments innovative products have been introduced in the market. Some of them include wearable sensors and wireless monitoring systems. Such advancements are expected to increase the efficiency of the devices. Government initiatives as well as funding for neonatal care, in low-income and middle-income countries, are expected to create lucrative growth opportunities for the market.

"Growing Popularity of Non-Invasive Prenatal Testing (NIPT) to Propel Market Growth "

A new trend that is being witnessed in the market is the introduction of non-invasive prenatal testing (NIPT). Along with this fetal monitoring devices are also being used. These devices and technologies enable early detection and prevention of potential complications that can occur during different stages of pregnancy. Severe maternal health issues, such as gestational diabetes and hypertension, have increased among many women.

 Rising awareness among people has increased the adoption of personalized medicine and precision healthcare. Increasing investments in research and development activities and new developments will accelerate fetal & neonatal care devices market share.

RESTRAINING FACTOR

"Shortage of Skilled Health Professionals to Operate These Devices to Bring Down Market Growth"

Along with the factors that help in the development of the market there are also certain factors that may hinder the growth and development of the market. High cost that is associated with advanced neonatal care devices, will limit their adoption in especially in low-income and middle-income countries.

Another problem that is faced by the market is the shortage of skilled healthcare professionals and inadequate healthcare infrastructure in several regions. Lack of education and awareness about the benefits of advanced neonatal care devices among healthcare providers as well as patients may become a major hinderance for the development of the market. All of these factors can restrain the market growth.

fetal & neonatal care devices market Regional Insights

• 

• Request a Free Sample to learn more about this report

"North America to Dominate Market in Upcoming Years"

The region that is predicted to dominate the market during the forecast period is North America. It accounts for a significant share of the global market. The rapid growth in the region can be attributed to the high prevalence of preterm births and neonatal complications in the region.

 There is also a dominating presence of major market players in several regions of North America. Government initiatives for maternal and child health have been highly favorable contributing to the growth of the market in this region. All of these factors will have a positive impact on the market.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• GE Healthcare (U.S.)
• Philips (Netherlands)
• Dragerwerk (Germany)
• Medtronic (Ireland)
• Siemens (Germany)
• Atom (Japan)
• Analogic (U.S.)
• BD (U.S.)
• Cooper (U.S.)
• Fisher & Paykel (New Zealand)
• Getinge (Sweden)
• Masimo (U.S.)
• Natus Medical (U.S.)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. Name of some of the top industry players have also been mentioned in the market to get a better understanding of the competition present in the market.