A recent report published by Infinium Global Research on neonatal intensive care market provides an in-depth analysis of segments and sub-segments in global as well as regional neonatal intensive care market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional neonatal intensive care market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global neonatal intensive care market. According to the report, the global neonatal intensive care market was USD 5.3 billion in 2016 and it is projected to reach USD 9.5 billion, growing at a CAGR of 5.33% over the forecast period of 2018-2024.
The advanced technology and skilled health care professionals that helps to provide more attention to newborn babies that are admitted into the special division of the hospital/clinic. The neonatal babies that are admitted into this special division (NICU) are premature; these premature babies have low weight or need more medical specialty care. NICU is also used for newborn babies with medical disorders such as infections, heart problems, or birth defects.
The report defines neonatal intensive care market as a product type such as into infant warmers, neonatal monitoring devices, incubators, respiratory devices, convertible warmer & incubators, catheters, phototherapy equipment is used by different end users such as childcare clinics, hospitals, and others. Respiratory devices are measured to form the largest share of special care devices in a neonatal intensive care unit.
Growing awareness levels about accessible prenatal and neonatal intensive care equipment and high birth rate in developing regions are driving the growth of this market. According to the WHO, data states those 2.7 million stillbirths and 3.1 million neonatal deaths occur worldwide every year. This has led to increased demand for neonatal intensive care centers. In additions, neonatal hospital-acquired infections such as Central Line-Associated Bloodstream Infections (CLABSI) and healthcare-associated infections are some factors that are driving the growth of the market. Moreover, the significances of supportive government policies and rapid technological advancements in neonatal intensive care are expected to boost the growth of the market. On the other hand, expenses related to preterm birth is very high due to the need for technologically advanced medical equipment such as ventilators, radiant warmers, and incubators for neonatal intensive care units (NICUs) sustains higher spending, thus increasing to the total medical charge. Furthermore, the lack of proper diagnosis and declining birth rate in certain developed countries are some factors that are restraining the growth of the market.
North America is expected to be the largest market for Neonatal Intensive Care followed by Europe. The increasing awareness for baby care and demand for technologically advanced products in North America are contributing to the growth of this region. According to the world health organization (WHO) report, in 2016 the count of premature births in the U.S. was 517,400. While Asia-Pacific is the fastest growing region due to increasing awareness and government support in developing countries China and India are augmenting the growth of the market in this region. Moreover, Cook Medical, Medtronic plc and Becton, Dickinson and The company are the top three leading players of the market The leading players are entering into mergers and acquisitions and joint ventures, with local and regional suppliers to revenue and development activities in order to introduce new products and expand worldwide.
The report on global neonatal intensive care market covers segments such as product type and end users. Based on product type the global neonatal intensive care market is categorized into infant warmers, neonatal monitoring devices, incubators, respiratory devices, convertible warmer & incubators, catheters, phototherapy equipment, and others. Electric Infant Warmers and Non-Electric Infant Warmers are two different types of infant warmers included in the report. The neonatal monitoring devices are further classified into blood pressure monitor, pulse oximeter, cardiopulmonary monitor, Capnographs, and others. Neonatal ventilators, transcutaneous oxygen/carbon dioxide monitor, resuscitators, and others are included in respiratory devices segment. Based on end users the global neonatal intensive care market is categorized into childcare clinics, hospitals, and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography is provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global neonatal intensive care market such as Medtronic plc, C. R. Bard, Inc., Becton, Dickinson and Company, Cook Medical, Teleflex Incorporated, B. Braun Melsungen AG, GE Healthcare and Others.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global neonatal intensive care market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of neonatal intensive care market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the neonatal intensive care market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the neonatal intensive care market to understand the present and future trends in this market and formulate their strategies accordingly.
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