Neonatal Critical Care Equipment Market Growth & Trends
The global neonatal critical care equipment market size is expected to reach USD 1.3 billion in 2027, expanding at a CAGR of 9.4%, according to a new report by Grand View Research, Inc. High number of preterm births, prevalence of neonatal jaundice, and innovative product launches are some of the factors responsible for market growth. The Neonatal Intensive Care Unit (NICU) provides treatment to premature infants and those having breathing problems, anemia, heart defects, and other problems requiring critical care.
The majority of admissions in the NICU comprise of the premature/preterm babies. To support their treatment, various organizations are providing financial assistance to healthcare providers. For instance, in October 2018, the Australian Government announced a provision of AUD 600,000 to the Miracle Babies Foundation to support the families of premature babies. The overall assessment of the market reveals that the number of cases of jaundice and respiratory problems in neonates is increasing and precautionary measures are being taken by government authorities. For instance, governments are increasing the number of NICU facilities in order to tackle health related problems in neonates.
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Neonatal Critical Care Equipment Market Report Highlights
The Respiratory equipment segment dominated the market in terms of revenue share in 2019 due to the high prevalence of respiratory disorders among the newborn babies
North America dominated the market in terms of revenue share in 2019 due to high healthcare expenditure and measures adopted by organizations to improve healthcare for neonatal
BC Children’s Hospital, Vancouver, announced to launch Teck Acute Care Centre and claimed to have North America’s first NICU to provide care to mother and infant in the same room
On the other hand, Asia Pacific is likely to exhibit the fastest CAGR of 10.9% from 2020 to 2027 pertaining to a high birth rate in the region
The manufacturers of neonatal critical care equipment are undertaking research and development activities to provide innovative products, in order to cater to the increasing demand for NICUs globally
In January 2016, Maquet Medical Systems USA (Getinge Group) launched two ventilators for use in NICU, the Servo-U and Servo-n.
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Neonatal Critical Care Equipment Market Segmentation
Grand View Research has segmented the global neonatal critical care equipment market based on type and region:
Neonatal Critical Care Equipment Type Outlook (Revenue, USD Million, 2016 – 2027)
Thermoregulation Equipment
Phototherapy Equipment
Monitoring Equipment
Respiratory Equipment
Others
Neonatal Critical Care Equipment Regional Outlook (Revenue, USD Million, 2016 – 2027)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Asia Pacific
Japan
China
India
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
List of Key Players of Neonatal Critical Care Equipment Market
Cardinal Health
Drägerwerk AG & Co. KGaA
GE Healthcare
Koninklijke Philips N.V.
Medtronic
BD
Vyaire
Utah Medical Products, Inc.
Ambu A/S
Natus Medical Incorporated
Inspiration Healthcare Group plc
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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