Fetal & Neonatal Care Equipment - Market Insights, Competitive Landscape, and Market Forecast - 2030

Fetal & Neonatal Care Equipment Market By Product Type (Fetal Care Equipment [Ultrasound Systems, Fetal Dopplers, Fetal Mri Systems, Fetal Monitors, And Others], And Neonatal Care Equipment [Infant Warmers, Neonatal Ventilators, Neonatal Resuscitators, Infant Spo2 Sensors, Integrated Monitoring Devices, And Others]), By End User (Hospitals, Specialty Clinics, And Others), and by geography is expected to grow at a steady CAGR forecast till 2030 owing to rising number of preterm births and growing need for in utero fetal monitoring

Global fetal & neonatal care equipment market was valued at USD 7,945.25 million in 2023, growing at a CAGR of 8.07% during the forecast period from 2024 to 2030 to reach USD 12,646.97 million by 2030. The fetal & neonatal equipment market is witnessing positive growth owing to the increase in the pregnancy rate, growth in the number of preterm births, rising prevalence of congenital abnormalities in utero are some of the factors contributing in the demand for fetal & neonatal care equipment market. Furthermore, the rapid advancements in product development such as neonatal ventilators equipped with monitoring features is another aspect leading the fetal & neonatal equipment market to prosperity during the forecast period from 2024-2030.

Fetal & Neonatal Care Equipment Market Dynamics:

The fetal & neonatal equipment market is witnessing a growth in product demand owing to various reasons with one one of the primary reasons being the increase in the number of preterm births across the globe. As per the data cited by the World Health Organization, approximately 15 million babies are born too early (extremely preterm) every year. That is more than one in 10 babies. Approximately 1 million children die each year due to complications of preterm birth. The above-mentioned source further stated that across 184 countries, the rate of preterm birth lies between 5% and 18% of babies born. Depending on the duration, babies born prematurely have underdeveloped faculties and organ function that have to be supplemented by the different equipment meant for neonates such as incubators, ventilators, and integrated monitoring devices among others. Therefore, the rising prevalence of preterm births across the globe resulting in the growing demand for these devices is expected to boost the market growth of the fetal & neonatal equipment during the forecast period from 2024 to 2030.

Another prominent aspect that may result in increase in product demand is the rising prevalence of congenital diseases. Another factsheet by the WHO (2023) on birth defects mentions that near about 240,000 newborns across the globe die within 28 days of birth every year due to birth defects. The source further mentioned that the birth defects had caused a further 170, 000 deaths of children between the ages of 1 month and 5 years. Besides preconception screening, periconception screening can also help in detecting major structural abnormalities such as Down syndrome by using ultrasound during the first trimester, and for severe fetal abnormalities during the second trimester. Therefore, the increasing incidence of congential abnormalities in utero due to various reasons such as substance abuse by mothers, viral infections, genetic factors, and maternal nutritional deficiencies among other factors may also contribute in the growth of the fetal & neonatal care equipment market.

However, chances of nosochomial infections and strigent regulatory guidelines for these devices may be certain limiting factors to the fetal & neonatal care equipment market growth.

The spread of the COVID-19 infection impacted the growth of the fetal & neonatal equipment market. To contain the spread of COVID-19 infection, practically all the governments across the globe responded by imposing nationwide lockdowns. Maternity care and childbirth remained different from other routine medical procedures and therefore was not adversely affected by the COVID-19 pandemic in terms of product demand and supply. Therefore, the impact of the COVID-19 pandemic remained neutral on the fetal & neonatal care equipment market.

Fetal & Neonatal Care Equipment Market Segment Analysis:

Fetal & Neonatal Care Equipment Market By Product Type (Fetal Care Equipment [Ultrasound Systems, Fetal Dopplers, Fetal MRI Systems, Fetal Monitors, and Others], and Neonatal Care Equipment [Infant Warmers, Neonatal Ventilators, Neonatal Resuscitators, Infant SPO2 Sensors, Integrated Monitoring Devices, and Others]), By End User (Hospitals, Specialty Clinics, and Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product type segment of the fetal & neonatal care equipment market, the ultrasound systems subcategory is estimated to account for a significant share in the fetal & neonatal care equipment market during the forecast period (2024-2030). This can be ascribed to the advantages associated with ultrasound. These devices serve a variety of purpose in monitoring fetal as well as maternal health during the pregnancy. Ultrasound systems can detect an ectopic pregnancy, gestational age of the fetus, congenital anomalies, problems with the placenta, monitoring of fetal position, fetal growth, and the level of amniotic fluid. The ultrasound systems help in the evaluation of the forming structures of the fetus such as the spine, hips, and the brain. Moreover, considering the need for fetal and maternal health monitoring despite the limitations presented by the COVID-19 pandemic has resulted in the launch of devices that allow for conducting of ultrasound at home and share results with doctors using teleheath services. For instance, in August 2020, PulseNmore launched their flagship handheld tele-ultrasound device that enables pregnant women to perform at-home ultrasound scans, and receive feedback from a physician or sonographer, limiting the need for hospital and doctor visits during COVID-19 and beyond.

Therefore, considering their wide applications and the extensive presence of products in the market, this subcategory is expected to account for a considerable market share in the fetal & neonatal equipment market.

North America is expected to dominate the overall Fetal & Neonatal Care Equipment Market:

Among all the regions, North America is expected to account for the largest share of the global fetal & neonatal equipment market. The regional dominane of the North American market can be ascribed to various factors such as the increase in the number of preterm births, highly developed neonatal extensive care units (NICU), and the availability and access to the latest and most advanced technologies.

As per the provisional data released by the Centers for Disease Control and Prevention (CDC) in May 2022, near about 3.7 million babies were born in the US in 2022 accounting for 46,000 more babies than were born in 2020. Additionally, the CDC also stated that there was an increase in the number of preterm births in the country. In 2020, preterm birth affected 1 of every 10 infants born in the United States. Even though there was a decrease in 0.1% from 2019 to 2020 preterm birth rate, the ethnic and racial patterns remained distinct. In 2020, the rate of preterm birth among African-American women (14.4%) was about 50 percent higher than the rate of preterm birth among white or Hispanic women (9.1% and 9.8% respectively).

Preterm babies are cared for using various neonatal equipment such as phototherapy lamps and units, neonatal incubators, and monitoring devices among others. Therefore, the increasing number of preterm births in the country may result in the growing demand for neonatal care equipment in the country, thereby contributing in the growth of the North America fetal & neonatal care equipment market.

Additionally, the well-developed healthcare infrastructure in the country as well as the presence of supportive regulatory environment along with the sizeable presence of market players further contributes in the United States fetal & neonatal care equipment market growth. In May 2020, the SonarMed AirWave Airway Monitoring System (originally developed by SonarMed Inc) was granted the regulatory approval of by the US Food and Drug Administration. In May 2022, Medtronic launched the device commercially in the US. The SonarMed(TM) airway monitoring system is the only ETT airway monitor to provide real-time visualizations at the bedside for accurate, informed troubleshooting, which may save precious time and help reduce unplanned extubations in neonatal patients. Thus, such product development activities in terms of developing new technologies, gaining regulatory approvals, and launching the products in the market are certain aspects that provide the US as well as the North American market an edge over other regional markets.

Hence, all the above-mentioned factors are likely to contribute to the growth of the fetal & neonatal equipment market during the forecast period.

Fetal & Neonatal Care Equipment Market Key Players:

Some of the key market players operating in the fetal & neonatal care equipment market include Medtronic, General Electric Company., Getinge AB, Huntleigh Healthcare Limited., Koninklijke Philips N.V., Masimo, VYAIRE MEDICAL, INC., Fisher & Paykel Healthcare Limited, Dragerwerk AG & Co. KGaA, Hamilton Medical, Ibis Medical, SonoScape Medical Corp, MEDGYN PRODUCTS, INC, Trivitron Healthcare, Nonin, Honeywell International Inc, Pulsenmore Ltd, Aspect Imaging Ltd., Siemens Healthineers AG, Advanced Imaging Research dba SREE Medical Systems and others.

Recent Developmental Activities in the Fetal & Neonatal Care Equipment Market:

In February 2022, GE Healthcare received the regulatory approval from the US Food and Drug Administration for their Panda iRes Warmer.

In October 2020, Avalon Biomedical (Shenzhen) Limited received the regulatory approval from the US FDA for their KANGALITE model of neonatal phototherapy system.

Key Takeaways from the Fetal & Neonatal Care Equipment Market Report Study

• Market size analysis for current fetal & neonatal care equipment market size (2023), and market forecast for 5 years (2024-2030)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the fetal & neonatal care equipment market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the global fetal & neonatal care equipment market.
• Various opportunities available for the other competitor in the fetal & neonatal care equipment market space.
• What are the top performing segments in 2023? How these segments will perform in 2030.
• Which is the top-performing regions and countries in the current fetal & neonatal care equipment market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for fetal & neonatal care equipment market growth in the coming future?

Target Audience who can be benefited from this Fetal & Neonatal Care Equipment Market Report Study

• Fetal & neonatal care equipment providers
• Research organizations and consulting companies
• Fetal & neonatal care equipment-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in fetal & neonatal care equipment
• Various End-users who want to know more about the fetal & neonatal care equipment market and latest technological developments in the fetal & neonatal care equipment market.

Frequently Asked Questions for the Fetal & Neonatal Care Equipment Market:

1. What are Fetal & Neonatal Care Equipment?

Fetal & neonatal care equipment encompass various medical devices that are involved in maternal as well as anterm, perinatal, intraterm, and neonatal monitoring, and care.

2. What is the market for Global Fetal & Neonatal Care Equipment?

Global fetal & neonatal care equipment market was valued at USD 7,945.25 million in 2023, growing at a CAGR of 8.07% during the forecast period from 2024 to 2030 to reach USD 12,646.97 million by 2030.

3. What are the drivers for the Global Fetal & Neonatal Care Equipment Market?

The fetal & neonatal equipment market is witnessing positive growth owing to the increasecin the pregnancy rate, growth in the number of preterm births, rising prevalence of congenital abnormailities in utero are some of the factors contributing in the demand for fetal & neonatal care equipment market. Furthermore, the rapid advancements in prouct development such as neonatal ventilators equipped with monitoring features is another aspect leading the fetal & neonatal equipment market to prosperity during the forecast period from 2024-2030.

4. Who are the key players operating in the Global Fetal & Neonatal Care Equipment Market?

Some of the key market players operating in the fetal & neonatal care equipment market include Medtronic, General Electric Company., Getinge AB, Huntleigh Healthcare Limited., Koninklijke Philips N.V., Masimo, VYAIRE MEDICAL, INC., Fisher & Paykel Healthcare Limited, Dragerwerk AG & Co. KGaA, Hamilton Medical, Ibis Medical, SonoScape Medical Corp, MEDGYN PRODUCTS, INC, Trivitron Healthcare, Nonin, Honeywell International Inc, Pulsenmore Ltd, Aspect Imaging Ltd., Siemens Healthineers AG, Advanced Imaging Research dba SREE Medical Systems and others.

5. Which region has the highest share in Fetal & Neonatal Care Equipment Market?

North America is expected to hold the highest share of the revenue in the fetal & neonatal care equipment market during the forecast period. The regional dominance of the North American market can be ascribed to various factors such as the increase in the number of preterm births, highly developed neonatal extensive care units (NICU), and the availability and access to the latest and most advanced technologies.