PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1618290
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1618290
Global fetal and neonatal care market is projected to witness a CAGR of 6.38% during the forecast period 2025-2032, growing from USD 8.59 billion in 2024 to USD 14.09 billion in 2032. The market's growth can be attributed to the rising cases of premature births, increasing awareness about the importance of fetal and neonatal care, growing efforts of the leading medical device companies to launch advanced equipment, and rising efforts of various governments to increase survival rates and improve maternal health.
Governments and healthcare organizations are emphasizing more on introducing maternal and child health initiatives and increasing awareness about the importance of prenatal and neonatal care, resulting in an increased demand for fetal and neonatal care medical devices. For instance, in August 2024, funding of USD 558 million was announced by the U.S. Department of Health and Human Services (HHS) to improve maternal health. Additionally, the Centers for Disease Control and Prevention (CDC) announced an investment of USD 118.5 million in forty-six states and six territories over five years to enhance public health infrastructure to allow better prevention of pregnancy-related deaths.
Furthermore, various medical device companies across the globe are actively working on launching new technologies and equipment to aid healthcare professionals in providing better patient care. For instance, in May 2024, Natera, Inc. announced the launch of their new cfDNA-based fetal RhD test. The test can be performed at nine weeks gestation to determine fetal RhD status, including RhD-CE-D hybrid variants and complex pseudogenes. The key differentiators to the company's test are the single-nucleotide polymorphism (SNP) based technology and the lack of availability of fetal RhD assessment. Such innovations are expected to be crucial in improving outcomes for infants and mothers and aid healthcare providers in effectively diagnosing and treating patients. Technological innovations are also increasing the sophistication of monitoring cardiac activities, oxygen saturation, and tracking vital signs in real time. The growing availability of wireless devices is reducing the risk of infections and enhancing the comfort of neonates in neonatal intensive care units (NICUs).
Increasing Birth Rate Boosts Market Demand
The rising birth rate in various countries across the globe is augmenting the requirement for effective fetal and neonatal care equipment to ensure patient health. As per the estimates of the CDC, in the United States, 3,596,017 births were registered in 2023. As the birth rate continues to increase in different regions, the requirement for fetal and neonatal care devices will continue to grow for routine monitoring and providing proper care to critically ill and prematurely born infants.
Additionally, the growing emphasis on ensuring fetal health can also be attributed to the rising incidences of high-risk and geriatric pregnancies. The increasing cases of geriatric pregnancies are also boosting the global fetal and neonatal care market demand as geriatric pregnancies are associated with a high risk of premature birth, increased chances of C-section and pregnancy loss, and a high risk of chromosomal conditions. Thus, augmenting the requirement for effective neonatal and fetal care solutions to ensure the mother's and offspring's health and well-being.
Novel Launches Support Market Expansion
The growing efforts of leading healthcare companies to bolster the availability of advanced medical technologies for effectively monitoring maternal and fetal health is one of the major drivers of the fetal and neonatal care market. For instance, in February 2024, GE HealthCare Technologies Inc. announced that their Novii+ Wireless Patch Solution has received 510(k) clearance from the United States Food and Drug Administration (FDA). The maternal and fetal monitor is used for noninvasively displaying and measuring fetal heart rates and can be used for both intrapartum and antepartum pregnant patients. The device provides a personalized view of the status of the fetus and mother. It alerts the medical team about changes in contraction patterns and heart rates during labor for proactive intervention. The non-invasive monitoring device also allows for early detection of potential health issues in fetuses.
Such novel product launches and approvals are driving the growth of the global fetal and neonatal care market by improving patient outcomes, enhancing the quality of care provided to mothers, and addressing the specific healthcare requirements of newborns and fetuses.
Hospitals Account for Significant Market Share
The increasing birth rate in various countries is propelling the requirement for fetal and neonatal care equipment from hospitals so that they can meet patient requirements. Thus, various government and non-governmental organizations are increasingly investing in hospital infrastructure to improve maternal and neonatal outcomes, including advanced medical equipment and training of healthcare professionals. Hospitals are often the first choice for expectant mothers to seek treatment, especially in cases of complications, as hospitals are equipped with necessary and advanced neonatal and fetal care services and competent professionals.
Additionally, the increasing investments by various hospitals towards expanding NICUs is another major factor boosting the requirement for fetal and neonatal care equipment among hospitals. For instance, in February 2024, the Phoenix Children's Hospital expanded its patient tower in the United States. As part of their new NICU facility, the extension is designed to provide medical care for various complex neonatal conditions. The USD 18.4 million project aims to enhance neonatal care. Investments toward the expansion of hospital facilities to accommodate neonatal and fetal care sections are propelling the requirement for necessary equipment and medical devices, positively influencing the market's expansion.
North America Holds Major Market Share
The presence of well-established healthcare infrastructure, growing awareness about the importance of fetal and neonatal care, rising cases of hospital-acquired infections, and the strong presence of key market players and leading medical device companies are some of the major factors supporting the growth of the North American fetal and neonatal care market. These factors also increase the accessibility of novel medical technologies in various countries in North America. For instance, in October 2023, the London Health Sciences Centre (LHSC) in Canada, acquired new ultrasound units powered by advanced artificial intelligence (AI) technology capable of generating accurate and clear images, allowing the early diagnosis of abnormalities earlier in pregnancies. The 4D and 3D capabilities of the machines allow them to increase exam speed, support efficient fetal measurement, and automatically identify fetal anatomy. Such additions are made possible by donations from various government and non-government organizations. The introduction of 12 new ultrasound machines at the LHSC was made possible by donating USD 1.3 million from the London Health Sciences Foundation (LHSF).
Furthermore, the rising cases of preterm births are also propelling the demand for fetal and neonatal care equipment in the region. According to estimates from Statistics Canada, the rate of premature births increased to 8.3% in 2023.
Future Market Scenario (2025-2032F)
As per the global fetal and neonatal care market analysis, the rapid expansion of the market is supported by the rising number of births and increasing investments by various governments and healthcare organizations to bolster the availability of medical equipment to support the health and well-being of infants and fetuses.
The rising cases of pre-term births are also expected to provide lucrative growth opportunities for the market. According to estimates from the European Foundation for the Care of Newborn Infants (EFCNI), approximately 13.4 million babies are born pre-term annually across the globe.
Additionally, the growing awareness regarding maternal and neonatal health, driven by public and private organizations, is another major factor expected to bolster the market's growth. Such efforts are focused on educating communities about the importance of neonatal care, thus increasing demand for necessary equipment. The rising prevalence of health complications among newborns, such as congenital anomalies and respiratory distress syndrome, is also necessitating the availability of specialized care equipment.
The combination of rising birth rates, increasing awareness about neonatal health, advancements in medical technology, and growing requirement for specialized medical care due to increasing health complications among infants position the global fetal and neonatal care equipment market for significant growth over the forecast period.
Key Players Landscape and Outlook
The key players in the market are actively investing in novel product launches in different regions and focusing on collaborating with other leading medical device companies to ensure the availability of novel technologies and devices to enhance fetal and neonatal care. In October 2024, Dragerwerk AG & Co. KGaA launched BabyRoo TN300 in India to assist postnatal care. The device features lung-protective respiratory support for the first few minutes post-birth and includes a family-friendly design for supporting parental involvement. BabyRoo's specialized modes and intuitive user interface streamline workflow and aid in stabilizing newborns in both NICU and delivery settings.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.