Fetal and Neonatal Care Equipment Market Overview
Fetal care equipment is used for monitoring or managing the health issues of the mother and fetus before or during pregnancy, whereas Neonatal care equipment is used to take care of ill or immaturely born infants. Trained health care professionals and with the help of advanced equipment can provide extensive care for the little patient.
Fetal and Neonatal Care Equipment Market Forecast Report (2018-2023)
Global Fetal and Neonatal Care Equipment Market worth was USD 7.62 billion in 2018, and is expected to grow at a CAGR of 6.6%, to reach USD 10.49 billion by 2023.
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Fetal and Neonatal Care Equipment Market Segmentation
The Fetal and Neonatal Care Equipment Market is segmented based on product type, end user and region. Based on product type, the market is segmented into fetal care and neonatal care equipment. Neonatal care equipment is the leading market segment due to the technological advancements such as remote patient monitoring devices which can be used from home, whereas fetal care equipment is the fastest growing segment due to the increasing awareness among the people. Fetal care equipment market is further divided into Fetal Dopplers, ultrasound devices, Fetal Monitors, Fetal MRI systems and Fetal Pulse Oximeters. Fetal monitors hold the leading market share as they are used to constantly monitor the heart rate of fetus and contractions in labor. Neonatal Care Equipment is also further categorized into Incubators, Infant warmers, Respiratory devices, Phototherapy equipment and the Neonatal monitoring devices. Respiratory devices are the biggest market segment, as almost all the babies are prone to some difficulty in respiration after birth. Based on end users, the market is divided into Hospitals and Clinics.
Based on geography, the market is divided into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America leads the Fetal and Neonatal Care Equipment market, due to availability of highly advanced healthcare infrastructure to provide improved healthcare in this region. Asia Pacific is expected to be the fastest growing segment due to the increasing awareness and government initiatives in the developing countries such as India which increased the demand for infant health care equipment.
Factors and Trends Impacting the Growth of the Fetal and Neonatal Care Equipment Market
- Innovative tools and the devices for enhancing safety for mothers, babies, and families. For this, companies are focusing on the acquisition strategy and increasing regulatory approval for the devices.
- In March, 2017, GE Healthcare expanded its Maternal-Infant Care business with acquisition of Monica Healthcare — a U.K.-based monitoring technology company. This acquisition enhances, GE Healthcare’s mobile and digital offerings by providing clinicians and patients around the world with the more innovative solutions for labor, delivery, and home care.
- In February 2017, Masimo received CE marking for the Eve — a critical congenital heart disease (CCHD) newborn screening application, for the Rad-97 Pulse CO-Oximeter. Eve is integrated with the Masimo SET Measure-through Motion and Low Perfusion pulse oximetry with a pre-ductal to post-ductal synchronization algorithm designed to reduce the calculation errors and giving appropriate outcomes for the treatment of newborn lives..
Some of the major players in this current market are
- GE Healthcare
- Dickinson and Company
- Philips Healthcare
- Drägerwerk AG & Co
- Medtronic plc
- Masimo Corporation.
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