Neonatal Critical Care Equipment Industry Overview
The global neonatal critical care equipment market size was valued at USD 649.7 million in 2021 and is expected to witness a compound annual growth rate (CAGR) of 8.70% from 2022 to 2030. The high prevalence of neonatal jaundice, an increasing number of preterm births, and the introduction of new products for use in the Neonatal Intensive Care Units (NICU) are expected to drive the market. The World Health Organization (WHO) estimates that over 15 million infants are born prematurely each year, with about 1 million dying as a result of preterm problems. Newborn monitoring is one of the most challenging responsibilities. Developing better devices has remained significant in managing neonatal health issues. Manufacturers are making significant investments to keep up with the increasing demand for neonatal critical care equipment, particularly thermoregulation devices.
Globally, the neonatal critical care equipment market is characterized by a high rate of newborn jaundice. According to the National Center for Biotechnology Information, around 55.2% of newborns involved in the research suffered jaundice in 2018. Additionally, jaundice, or hyperbilirubinemia, occurs in roughly 60.0% of full-term infants (and 80% of preterm infants) within the first week of life, according to The Royal Children's Hospital Melbourne, Australia. As phototherapy equipment is employed as an effective treatment against neonatal jaundice, its increasing cases have a positive impact on the market.
Gather more insights about the market drivers, restraints, and growth of the Global Neonatal Critical Care Equipment Market
When a baby is born before completing the 37 weeks of pregnancy, it is called a preterm birth and is admitted to the NICU. As per the March of Dimes, a U.S. non-profit organization, among the total NICU admissions more than half comprised preterm babies. According to the Centers for Disease Control and Prevention (CDC), in 2020, 1 out of every 10 infants was born prematurely. This results in increased NICU admission and a rise in the requirement for NICU facilities.
Public and private organizations are taking initiative to increase the availability of the NICUs to cope with the requirement. For instance, in September 2017, BC Children's Hospital, Vancouver, announced to launch of Teck Acute Care Centre and claimed to have North America’s first NICU to provide critical care to mothers and infants in the same room.
Monitoring devices are one of the important newborn care equipment in the NICU infrastructure. Hence key manufacturers are conducting research and development to launch innovative monitoring devices for use in the NICUs. For instance, in June 2019, Masimo received the U.S. Food and Drug Administration (FDA) approval for the use of its O3 Regional Oximetry on neonatal patients.
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Fetal And Neonatal Care Equipment Market - The global fetal and neonatal care equipment market size was valued at USD 7.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.28% from 2022 to 2030.
Phototherapy Equipment Market - The global phototherapy equipment market size was valued at USD 368.8 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 3.95% during the forecast period.
Neonatal Critical Care Equipment Industry Segmentation
Grand View Research has segmented the global neonatal critical care equipment market based on type and region:
Neonatal Critical Care Equipment Type Outlook (Revenue, USD Million, 2016 - 2030)
- Thermoregulation Equipment
- Phototherapy Equipment
- Monitoring Equipment
- Respiratory Equipment
- Others
Neonatal Critical Care Equipment Regional Outlook (Revenue, USD Million, 2016 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA (Middle East & Africa)
Market Share Insights:
May 2019: The NICU at St Peter’s Hospital announced the arrival of a transport incubator system which is used for transport while admitting the babies to a NICU and post-discharge.
Key Companies profiled:
Some prominent players in the global Neonatal Critical Care Equipment Industry include
- Cardinal Health
- Drägerwerk AG & Co. KGaA
- GE Healthcare
- Koninklijke Philips N.V.
- Medtronic
- Vyaire
- BD
- Utah Medical Products, Inc.
- Ambu A/S
- Natus Medical Incorporated
- Inspiration Healthcare Group plc
Order a free sample PDF of the Neonatal Critical Care Equipment Market Intelligence Study, published by Grand View Research.
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