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Neonatal care equipment is used in the care of neonates owing to pre-birth defects or pre-mature born babies. Incubators are in high demand in the NICU facilities for the pre-mature born neonates. According to world Health Organization (WHO), there are approximately 15 million babies born pre-maturely in the world. Such, higher number has led to increased hospitalization of neonates in the NICU. Moreover, increasing prevalence of neonatal disease is likely to demand for more care equipment by the end users. Additionally, increased R&D by the medical device companies and launch of advanced devices are anticipated to increase the market potential in the forecast period.
The major factor driving the global neonatal care equipment market is increased investments in the setup of neonatal facilities along with rising prevalence of associated neonatal disease.
On the other side, lower penetration of care equipment in the lower-income countries is anticipated to restrict the market growth.
Key Market Driver -
Higher investments in the setup facilities for neonatal care
Key Market Restraint -
Lack of penetration of devices in the lower-income countries
By product, the market is segmented into incubators, monitoring devices, phototherapy equipment, respiratory devices, and others. Based on end users, the neonatal care equipment market is segmented into hospitals, neonatal clinics, NICU, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The major companies in the global cell surface markers market report includes BD, Medtronic plc., GE Healthcare, Koninklijke Philips N.V, Dragerwerk AG & Co. KGaA, Natus Medical Incorporated, PHOENIX MEDICAL SYSTEMS PVT. LTD., and others.
The global neonatal care equipment market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America followed by Europe dominated the global neonatal care equipment market in 2019, owing to the rise in prevalence of associated disease of neonates and higher investments for advancements in the NICU facilities. However, increasing patient pool suffering from associated disease and demand for effective neonatal care equipment in Asia Pacific is likely to accelerate the growth of the market in this regions. This along with setup of neonatal facilities in the developing countries to rise the value of neonatal care equipment market. Latin America and Middle East & Africa are projected to register a comparatively lower CAGR by the end of the forecast period
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