Fetal & Neonatal Monitoring Devices Market Size, Share, Growth, and Industry Analysis, By Type (Fetal Monitoring Devices, Neonatal Monitoring Devices), By Application (Hospitals, Ambulatory Surgery Centers, Home Care Setting, and Other End Users) Regional Forecast (2022-2028)

REPORT OVERVIEW

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The global fetal & neonatal monitoring devices market size was USD 9900 million in 2021. The global COVID-19 pandemic has been unprecedented and staggering; with the fetal & neonatal monitoring devices. As per our research, the market is projected to touch USD 14,720 million by 2028, exhibiting a CAGR of 5.3% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Fetal & Neonatal Monitoring Devices comprise Fetal Monitoring Devices and Neonatal Monitoring Devices, which are primarily used to track different physical indicators of the fetus and infant and to have a more thorough understanding of the fetal and newborn's physical state.

The prevalence of premature babies, high birth rates in developing nations, and government initiatives to improve such patients' survival rates are some of the factors that have contributed to the expansion of this market. Additionally, elements including the rising incidence of nosocomial infections in neonates and rising public awareness of newborn care equipment are anticipated to support growth.

COVID-19 Impact: Pandemic Effectuated Downsized Market Demand

The global corona-virus outbreak, also known as COVID-19, extended across several industries. Despite the urgency, the number of patient visits to hospitals has dramatically decreased during the previous few months. The administration of procedures during the COVID-19 epidemic varies greatly. In order to avoid being in contact with COVID-19 patients and healthcare workers, patients are avoiding healthcare facilities. The temporary deferral of a number of elective surgeries is anticipated to have a detrimental effect on the market as governments and authorities work to guarantee that resources are available for COVID-19 patients.

LATEST TRENDS

"Increasing Demand for Products to Inflate Market Demand"

It is anticipated that the prevalence of hospital-acquired infections among newborns will rise, as will consumer knowledge of neonatal equipment. The UN Foundation reports that maternal and infant health is a top issue worldwide since every day, some 800 women may be away from preventable causes related to pregnancy or childbirth. Fetal mortality rates are alarmingly high all around the world as a result of pregnancy-related medical issues. Due to increased birth rates, the demand for newborn gadgets is rising in middle-income nations. Furthermore, maternal and child health are receiving more attention from these nations' governments. Sales of these fetal & neonatal monitoring devices are therefore anticipated to increase significantly.

SEGMENTATION

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• By Type

Based on type; the fetal & neonatal monitoring devices market is divided into Fetal Monitoring Devices, Neonatal Monitoring Devices.

• By Application

Based on the application; the fetal & neonatal monitoring devices market is divided into Hospitals, Ambulatory Surgery Centres, Home Care Setting, and Other End Users.

DRIVING FACTORS

"Technological Developments to Advance Market Share"

Preterm births are now more common than they were a few decades ago. The preterm birth rate ranges from 5% to 18% of all births among 184 countries globally, according to the World Health Organization's 2020 information sheet. Globally, 15 million infants are delivered before 37 weeks of gestation. These preterm infants are discovered to be vulnerable to illnesses and infections. As a result, these infants are monitored utilizing monitoring technology. Due to these considerations, there is now a greater need for monitoring tools and equipment, which has led to equipment technological developments. These factors are expected to drive fetal & neonatal monitoring devices market growth in the coming years.

"Rising prevalence of Mortality Rates to Drive Market Growth"

The fetal & neonatal monitoring devices market is driven by the rising prevalence of newborn mortality and the desire to lower baby mortality rates with better healthcare conditions. For instance, the preterm birth rate among African American women was 14.4% in 2019, according to the Centers for Disease Control and Prevention (CDC). The market for fetal and neonatal monitoring devices is constrained by rigorous regulatory laws that control this business. Manufacturers of fetal and neonatal devices must meet numerous standards and testing set forth by various regulatory authorities.

RESTRAINING FACTORS

"Stringent Regulations to Restrain the Market"

The fetal & neonatal monitoring devices market is constrained by strict regulatory requirements, low birth rates, and expensive equipment.

REGIONAL INSIGHTS

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"Growing Healthcare System to Foster Growth in North America"

North America is expected to have the largest fetal & neonatal monitoring devices market share. Due to the sophisticated and well-organized healthcare systems in the U.S. and Canada, North America currently dominates the industry. These nations have exceptionally high healthcare costs because they support fetal and neonatal medical device research and development. These regulations encourage many businesses all around the world to operate in this area.

The population in developing nations is becoming more conscious of healthcare issues, and the region of Asia is anticipated to expand quickly as a result. Additionally, the market in the Asian area is booming as a result of the expanding hospital and clinic infrastructure in the region.

KEY INDUSTRY PLAYERS

"Key Industry Players to Promote the Market Expansion"

The market's expansion was significantly impacted by the techniques employed by market participants in recent years, such as extensions. The report covers details and information about the firms and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other considerations taken into account for this market are the businesses that develop and provide new products, the geographic areas in which they function, mechanization, innovation strategies, generating the maximum revenue, and using their products to make a significant difference.

List of Market Players Profiled

• Abbott (U.S.)
• Hill-Rom (U.S.)
• Dragerwerk (Germany)
• Masimo Corporation (U.S.)
• Edwards Lifesciences (U.S.)
• OMRON (Japan)
• Shenzhen Mindray (China)
• Koninklijke Philips (Netherlands)
• GE Healthcare (U.S.)
• Getinge (Sweden)

REPORT COVERAGE

This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching of recent industry developments, deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.