DUBLIN–(BUSINESS WIRE)–The “Neonatal Intensive Care Market By Product, By Application, By End User: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
The global neonatal intensive care market was valued at $2,012.4 million in 2021, and is projected to reach $4,403.0 million by 2031, registering a CAGR of 8.2% from 2022 to 2031.
A neonatal intensive care unit (NICU), also known as an intensive care nursery, is an intensive care unit that specializes in care of ill or premature newborn infants. The common equipment in a neonatal intensive care unit (NICU) includes mechanical ventilators to assist breathing through an endotracheal tube or a tracheostomy tube; cardiac monitors for monitoring cardiac condition; equipment for constant monitoring of bodily functions; and a web of intravenous lines, feeding tubes, nasogastric tubes, and suction pumps.
Increase in birth rate and rise in number of preterm births boost growth of the market. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2020, around 3,613,647 newborns were reported. Thus, increase in number of child birth and growth in number of preterm births drive growth of the market.
In addition, increase in incidences of maternity factors such as age of mother, alcoholism, and smoking is responsible for low growth rate and preterm delivery of baby, which further contributes toward growth of the market. Age-related factors such as being younger than 16 and older than age 40 contributes toward rise in underdeveloped child delivery rate.
However, the rate of child marriage is slowly falling, owing to increase in awareness about child marriages and strict government initiatives. For instance, according to the United Nations Population Fund (UNFPA), in 2021, one in five women between the ages of 20 and 24 reported they had been married as children. From the same source, the total number of child marriages is projected to increase by 2030, owing to regional and socioeconomic factors.
Furthermore, increase in prevalence of chronic diseases such as diabetes and hypertension contribute toward growth of the market. Diabetes during pregnancy may be associated with a high rate of congenital anomalies, disturbances of intrauterine growth, and often post-natal neurobehavioral abnormalities in offspring. The latter are associated with pregestational (PGD) as well as with gestational diabetes (GD).
According to the International Diabetes Federation (IDF), in 2021, approximately 537 million adults (20-79 years) were living with diabetes, and the number is projected to rise to 643 million by 2030 and 783 million by 2045. As a result, associated diseases in newborns may require special attention and admission in neonatal intensive care.
Moreover, there has been an increase in R&D activities for development of advanced neonatal intensive care, such as advanced thermometer & oximeters, along with subsequent approvals from the U.S. Food and Drug administration (FDA); as well, novel product launches by key players boost the market growth.
For instance, in December 2021, the U.S. Food and Drug Administration (FDA) has granted 510(k) clearance to Medtronic plc., a global leader in healthcare technology, for its INVOS 7100 cerebral/somatic oximetry system for children from birth through age 18. Furthermore, growing risk of COVID-19 infections in children propels demand for respiratory devices. However, high cost of neonatal intensive care and product recall hinder growth of the market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the neonatal intensive care market analysis from 2021 to 2031 to identify the prevailing neonatal intensive care market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the neonatal intensive care market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global neonatal intensive care market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product
- Warmers
- Incubators
- Type
- Hybrid Incubator
- Normal Incubator
- Transport Incubator
- Monitoring Devices
- Respiratory Devices
- Phototherapy Equipment
- Others
By Application
- Neonatal Hypothermia Low Birth Weight
- Jaundice
- Others
By End User
- Hospitals
- Maternity Hospitals
- Neonatal Pediatric Hospital
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Italy
- Spain
- Rest of Europe
- Germany
- France
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Dragerwerk AG & Co. KGaA
- GE Company
- Masimo Corporation
- 3M Company
- Phoenix Medical Systems Pvt Ltd.
- Medtronic PLC
- Koninklijke Philips N.V
- Fanem Medical Devices
- Atom Medica
- Mediprema Group
- Siemens Healthcare GmbH
- Terumo Corporation
- Medicor Elektronika
- Ningbo David Medical Device Co., Ltd.
- Zhengzhou Dison Instrument And Meter Co., Ltd
- AngioDynamics
- Vygon (UK) Ltd
For more information about this report visit https://www.researchandmarkets.com/r/mxyawn
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