{"id":52928,"date":"2023-01-16T11:02:05","date_gmt":"2023-01-16T10:02:05","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/the-worldwide-neonatal-intensive-care-industry-is-projected-to-reach-4-4-billion-by-2031-at-an-8-2-cagr-researchandmarkets-com\/"},"modified":"2023-01-16T11:02:05","modified_gmt":"2023-01-16T10:02:05","slug":"the-worldwide-neonatal-intensive-care-industry-is-projected-to-reach-4-4-billion-by-2031-at-an-8-2-cagr-researchandmarkets-com","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/the-worldwide-neonatal-intensive-care-industry-is-projected-to-reach-4-4-billion-by-2031-at-an-8-2-cagr-researchandmarkets-com\/","title":{"rendered":"The Worldwide Neonatal Intensive Care Industry is Projected to Reach $4.4 Billion by 2031 at an 8.2% CAGR – ResearchAndMarkets.com"},"content":{"rendered":"
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DUBLIN–(BUSINESS WIRE)–The “Neonatal Intensive Care Market By Product, By Application, By End User: Global Opportunity Analysis and Industry Forecast, 2021-2031”<\/a> report has been added to ResearchAndMarkets.com’s<\/strong> offering.\n<\/p>\n

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\nThe 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.\n<\/p>\n

\nA 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.\n<\/p>\n

\nIncrease 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.\n<\/p>\n

\nIn 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.\n<\/p>\n

\nHowever, 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.\n<\/p>\n

\nFurthermore, 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).\n<\/p>\n

\nAccording 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.\n<\/p>\n

\nMoreover, 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.\n<\/p>\n

\nFor 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.\n<\/p>\n

\nKey Benefits For Stakeholders<\/strong>\n<\/p>\n