PUBLISHER: The Business Research Company | PRODUCT CODE: 1425667
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425667
Neonatal Infant Care Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on neonatal infant care market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for neonatal infant care? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The neonatal infant care market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Neonatal infant care encompasses the medical attention and support provided to newborns from birth until their first month. This specialized care is crucial for premature infants or those with health complications, as their underdeveloped immune systems and organs require intensive medical assistance to thrive independently.
The neonatal infant care market comprises various product categories catering to infant health, including thermoregulation devices, phototherapy devices, monitoring systems, neonatal hearing screening tools, infant resuscitators, vision screening equipment, and more. Thermoregulation devices play a vital role in maintaining newborns' body temperatures, utilizing mechanisms to regulate room or body temperature effectively. Within prenatal and fetal equipment, ultrasound devices, fetal dopplers, fetal magnetic resonance imaging (MRI), and fetal monitors stand as key tools. Neonatal equipment encompasses infant warmers, incubators, phototherapy devices, monitoring systems, and respiratory assistance tools, serving diverse end users such as hospitals, nursing homes, and pediatric and neonatal clinics.
The neonatal infant care market research report is one of a series of new reports from The Business Research Company that provides neonatal infant care market statistics, including neonatal infant care industry global market size, regional shares, competitors with a neonatal infant care market share, detailed neonatal infant care market segments, market trends and opportunities, and any further data you may need to thrive in the neonatal infant care industry. This neonatal infant care market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The neonatal infant care market size has grown strongly in recent years. It will grow from $2.89 billion in 2023 to $3.13 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth witnessed in the historical period can be attributed to various factors including enhanced survival rates among preterm births, a concentrated emphasis on neonatal nutrition, the implementation of maternal and infant healthcare initiatives, heightened awareness surrounding neonatal care, and efforts towards patient rehabilitation and functional restoration.
The neonatal infant care market size is expected to see strong growth in the next few years. It will grow to $4.28 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecasted period is expected to stem from several contributing factors such as personalized neonatal medicine, advancements in neonatal vaccine development, the introduction of neonatal telehealth services, heightened emphasis on neuroprotection for neonates, and the implementation of genetic screening to detect neonatal disorders. Key trends anticipated in this period encompass technological advancements in neonatal equipment, a greater emphasis on developmentally supportive care, the emergence of home-based neonatal care solutions, advancements in neonatal imaging technologies, and the rise of sustainable and eco-friendly neonatal products.
The upsurge in premature births is a driving force behind the expansion of the neonatal infant care market. Premature birth, occurring before 37 weeks of pregnancy completion, necessitates specialized care provided by neonatal infant care, ensuring safe and conducive environments for the growth of these infants. Notably, as reported by the Centers for Disease Control and Prevention in January 2023, the preterm birth rate surged from 4% to 10.49% in 2021, affirming the pivotal role of neonatal care in addressing this increase.
The rise in infant mortalities is poised to fuel the growth of the neonatal infant care market. Infant mortality, indicating deaths within the first year of life, underscores the importance of robust neonatal care, particularly through Neonatal Intensive Care Units (NICUs). These specialized units offer critical care and support, significantly impacting premature infants' survival rates. According to the Centers for Disease Control and Prevention's data in November 2023, there was a 3% increase in infant deaths in 2022, totaling 20,538 deaths compared to 19,928 in 2021, reinforcing the role of neonatal care in curbing infant mortality rates.
Technological advancements stand as a prominent trend shaping the landscape of the neonatal infant care market. Industry leaders are dedicated to launching innovative technologies to maintain competitiveness and meet evolving consumer demands. For instance, Max Ventilator, an India-based medical device manufacturer, introduced a multifunctional ventilator in May 2022 designed for neonatal and adult care. This non-invasive technology-based product offers multifunctional capabilities, facilitating non-invasive ventilation and oxygen therapy.
Major players within the neonatal infant care market prioritize innovation to gain a competitive edge. Advanced products in this sector integrate cutting-edge technologies to enhance medical monitoring, promote developmental support, and ensure optimal newborn well-being. For instance, in August 2023, Cardinal Health Inc., a US-based healthcare company, launched the NTrainer System 2.0. This next-gen medical device aids premature and newborn infants in developing oral coordination skills. It offers clinicians objective data for progress tracking and instills confidence in parents regarding their infants' potential progress and thriving post-discharge.
In November 2021, NeoLight LLC, a US-based newborn medical devices company, acquired Phoenix Technology Group LLC, undisclosed in amount. The acquisition broadened NeoLight's product portfolio, integrating the telemedicine platform for retinopathy of prematurity (ROP) screening, a leading cause of infant blindness, from Phoenix Technology Group. The California-based Phoenix Technology Group specialized in innovative neonatal ophthalmic imaging devices and telemedicine platforms, further enriching NeoLight's offerings.
Major companies operating in the neonatal infant care market report are Atom Medical Corp., Dragerwerk AG & Co. KGaA, Fisher & Paykel Healthcare Limited, GE Healthcare Technologies Inc., Ibis medical equipment and systems Pvt. Ltd., Medtronic PLC, Natus Medical Incorporated, International Biomedical Ltd., Koninklijke Philips NV, Weyer GmbH, Inspiration Healthcare Group PLC, Masimo Corp., CooperSurgical Inc., Abbott Laboratories, Edan Instruments Inc., Medela AG, Nihon Kohden Corporation, Getinge AB, Nice Neotech Medical Systems Pvt. Ltd., Becton, Dickinson and Company, Hill-Rom Holdings Inc., Edwards Lifesciences Corporation, Cardinal Health Inc., Smiths Medical International Ltd., Hamilton Medical AG, Vyaire Medical Inc., ResMed Inc., Air Liquide Medical Systems Pvt. Ltd., Draeger Medical Systems Inc., Thermo Fisher Scientific Inc., PerkinElmer Inc., Agilent Technologies Inc., Bio-Rad Laboratories Inc., Illumina Inc., Qiagen N.V., Roche Diagnostics International Ltd., Siemens Healthineers AG, Beckman Coulter Inc., BioMerieux SA, Cepheid Inc., Hologic Inc., Luminex Corporation, Meridian Bioscience Inc., Quidel Corporation, Danaher Corporation, B. Braun Melsungen AG
North America was the largest region in the neonatal infant care market share in 2023. The regions covered in the neonatal infant care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the neonatal infant care market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The neonatal infant care market includes revenues earned by entities by providing intensive cardiac and respiratory monitoring, continuous vital sign monitoring, heat maintenance, enteral and parenteral nutritional adjustments services, laboratory and oxygen monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.