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Neonatal Infant Care Global Market Report 2023
Major players in the neonatal infant care market are Atom Medical Corp, Drägerwerk AG & Co. KGaA, Fisher & Paykel Healthcare Limited, GE Healthcare, Ibis Medical, Medtronic PLC, Natus Medical Incorporated, International Biomedical, Koninklijke Philips N.
New York, April 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Neonatal Infant Care Global Market Report 2023" - https://www.reportlinker.com/p06450863/?utm_source=GNW
V., Weyer GmbH, Inspiration Healthcare Group plc, Masimo Corp., CooperSurgical Inc., Abbott Nutrition, Edan Instruments Inc., Medela AG, Nihon Kohden Corporation, Getinge AB, Nice Neotech Medical Systems Pvt. Ltd.
The global neonatal infant care market is expected to grow from $2.67 billion in 2022 to $2.91 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The neonatal infant care market is expected to grow to $3.92 billion in 2027 at a CAGR of 7.8%.
The neonatal infant care market includes revenues earned by entities by providing intensive cardiac and respiratory monitoring, continuous vital sign monitoring, heat maintenance, enteral and parenteral nutritional adjustments services, laboratory and oxygen monitoring.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Neonatal infant care is the care or medical assistance given to an infant from the moment it is born till the first month.The care is given to babies who are born prematurely or who are unwell require medical assistance and special care since they have inadequate immunity and organ systems that are not matured enough to survive on their own.
The neonatal infant care is used for providing necessary care to infants who are born premature or have a medical condition that needs intensive medical care.
North America was the largest region in the neonatal infant care market in 2022. The regions covered in the neonatal infant care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in neonatal infant care are thermoregulation devices, phototherapy devices, monitoring systems, neonatal hearing screening, neonatal infant resuscitator devices, vision screening, and others.The thermoregulation devices are used for maintaining the body temperatures of new-born babies.
Thermoregulation devices are devices that regulate the temperature of the room or body.The various prenatal and fetal equipment include ultrasound and ultrasonography devices, fetal doppler’s, fetal magnetic resonance imaging (MRI), and fetal monitors.
The various neonatal equipment are infant warmers and incubators, phototherapy equipment, neonatal monitoring devices, respiratory assistance, and monitoring devices that are used by several end users such as hospitals, nursing homes, and pediatric and neonatal clinics.
The rise in the number of premature new born babies is driving the growth of the neonatal infant care market.Premature birth refers to the birth of a child before the completion of 37 weeks of pregnancy.
Neonatal infant care is required for premature and sick babies with medical conditions as it provides safe and suitable conditions for the growth of the new born baby. For instance, according to the Centers for Disease Control and Prevention (CDC), a US-based national public health agency, the preterm birth rate increased by from 10.09 in 2020 to 10.48 in 2021. Additionally, according to Tommy’s, a UK-based charity organization carrying out research on the causes of miscarriage, stillbirth and premature birth, live births where the gestational period was under 24 weeks was 0.15% in 2019. About 8% of births in the UK were preterm in 2019 which was around 60,000 babies each year. Therefore, the increasing number of premature births is driving the growth of the neonatal infant care market.
Technological advancements are a key trend gaining popularity in the neonatal infant care market.Major companies in the neonatal infant care market are focused on launching new technologies to sustain their position and meet consumer demand.
For instance, in May 2022, Max Ventilator, an India-based manufacturer of medical devices, launched an innovative multifunctional ventilator for neonatal and adult care.The new product is functioning on non-invasive technology and has multifunctional capabilities.
It can be used for non-invasive ventilation and can be used to provide oxygen therapy as well.
In November 2021, NeoLight LLC, a US-based new born medical devices company, acquired Phoenix Technology Group LLC along with the telemedicine platform for retinopathy of prematurity (ROP) screening, a leading cause of blindness in infants, for an undisclosed amount.The acquisition would expand the product portfolio of NeoLight to include ocular imaging devices of the phoenix technology group.
Phoenix Technology Group was a California-based provider of advanced ophthalmic imaging devices having innovative neonatal ophthalmic imaging devices and telemedicine platforms in its portfolio.
The countries covered in the neonatal infant care market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The neonatal infant care market research report is one of a series of new reports that provides neonatal infant care market statistics, including neonatal infant care industry global market size, regional shares, competitors with a neonatal infant care market share, detailed neonatal infant care market segments, market trends and opportunities, and any further data you may need to thrive in the neonatal infant care industry. This neonatal infant care market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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