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According to the WHO, an estimated 15 million babies are born preterm every year, and this number is rising at an exponential rate. These preterm babies often require critical specialty care and this is one of the factors contributing to the substantial growth of the infant care devices market. Infant care devices includes all the devices which are used for the treatment of neonates such as incubators, ventilators, phototherapy units, monitors, and others.
Owing to the increased awareness for the separate specialty care for neonates and pediatrics, manufacturers are also developing products specific to these segments. Especially due to the increasing awareness of infant healthcare and the subsequent technological advancements, the new product launches have also aided the expansion of infant care devices industry. For instance, in 2019, InnAccel Technologies Pvt Ltd., an Indian company announced the launch of SAANS, a portable neonatal CPAP device for infants with respiratory distress syndrome.
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Global infant care devices market growth is being driven by the increase in demand for infant care devices, increase in the prevalence of diseases among infants, rise in birth rate, and increase in the numbers of preterm births and technological advancement in the infant care devices.
The government regulations and guidelines for the care of infants are also expected to fuel the global infant care devices market. For example, The United Nations Commission on Life-Saving Commodities (UNCLSC) has defined neonatal resuscitator to be available and used appropriately to end preventable deaths of children and favorable health reimbursement.
On the flip side, the complications associated with the use of infant care devices and high costs associated with neonatal care and treatment are the factors that can restrain the growth in global infant care devices market.
The major companies covered in the global infant care devices market report include Koninklijke Philips N.V., GENERAL ELECTRIC COMPANY, Agiliti Health, Inc., MAICO Diagnostics GmbH, Medtronic, Natus Medical Incorporated, Fisher & Paykel Healthcare Limited, Pluss Advanced Technologies Pvt. Ltd., Inspiration Healthcare Group plc, Weyer GmbH, and other players.
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As per the current infant care devices market trends, thermoregulation equipment among the product is anticipated to register a higher market share in the global infant care devices market owing to the increasing prevalence of hypothermia in infants.
The global infant care devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The infant care devices market is anticipated to expand in North America during the forecast years owing to the increasing number of births, increased awareness, and a high number of preterm births. In Europe, the stringent regulatory guidelines for the use of the infant care devices and rising prevalence of infant diseases is projected to augment the infant care Devices market by the end of 2026. In the Asia Pacific and Latin America, the evolving healthcare infrastructure and increasing awareness regarding infant healthcare are anticipated to fuel the infant care devices market growth during the forecast period. Additionally, infant care devices market in the Middle East and Africa is in the nascent stage; however, unmet needs for infant healthcare and greater philanthropic initiatives are expected to drive the market growth in this region.
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