Global Neonatal Infant Care Market

Global Neonatal Infant Care Market Size, Share, Growth Analysis, By Product Type(Infant Warmers, Convertible Warmer & Incubators), By Technology(Thermoregulation Devices, Monitoring Systems), By End-user(Hospitals, Diagnostic Centers) - Industry Forecast 2024-2031

Report ID: SQSG35A2055 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 97 | Figures: 76

Global Neonatal Infant Care Market Insights

Global Neonatal Infant Care Market size was valued at USD 641.13 million in 2019 and is poised to grow from USD 698.5 million in 2023 to USD 1400 million by 2031, growing at a CAGR of 8.83% in the forecast period (2024-2031).

Premature birth or Neonatal birth is a condition when the baby is born weeks before the gestation period of 37 weeks. This care is provided to the premature baby after delivery for around 4 weeks as the baby has health concerns like the ease of breathing, gaining weight, and other important care for survival and always preferred to be kept in the neonatal infant care unit for the given period. During this period in the neonatal infant care unit, the baby is intensively taken care of and monitored through equipment like phototherapy equipment, incubators, respiratory assistance, and monitoring devices. This is done until a premature baby turned into a mature one with all organs and body functions working properly that eliminating abnormality in the baby. With technological advancements and investments in developing highly effective products, the neonatal infant care market is expected to show tremendous growth during the analysis period.

US Neonatal Infant Care Market is poised to grow at a sustainable CAGR for the next forecast year.

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Global Neonatal Infant Care Market size was valued at USD 641.13 million in 2019 and is poised to grow from USD 698.5 million in 2023 to USD 1400 million by 2031, growing at a CAGR of 8.83% in the forecast period (2024-2031).

The Neonatal Infant Care market is relatively fragmented, with a high level of competition. Few large players, like GE Healthcare, Medtronic plc, and Drägerwerk AG & Co. KGaA, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability. 'GE Healthcare', 'Medtronic plc', 'Philips Healthcare', 'Drägerwerk AG & Co. KGaA', 'Fisher & Paykel Healthcare', 'Masimo Corporation', 'Natus Medical Incorporated', 'Atom Medical Corporation', 'Becton, Dickinson and Company', 'CareFusion Corporation', 'Hill-Rom Holdings, Inc.', 'International Biomedical', 'Novamed USA', 'Phoenix Medical Systems Pvt. Ltd.', 'Smiths Medical', 'Teleflex Incorporated', 'Utah Medical Products, Inc.', 'Vygon S.A.', 'Weyer GmbH', 'Inspiration Healthcare Group plc'

Demand for neonatal infant care equipment has increased dramatically as a result of an increase in preterm births, accompanied by a rise in problems and an increase in demand for sophisticated jaundice management items. Increasing pregnancy complications such as infections, pre-eclampsia, and fetal growth restriction, corresponding efforts to increase the survival rates of neonates and mothers, and growing advancements in the field of neonatal infant care are the primary factors driving the global sales of neonatal infant care equipment.

The demand for newborn baby care equipment would only increase as difficulties associated with premature delivery continue to rise. Technological advances in the neonatal infant care sector will present profitable prospects for manufacturers in the coming years. The need for neonatal infant care equipment will expand across multiple geographies as a result of technological breakthroughs, device revisions, and automation. As an example, technological advancements in closed incubator systems, such as the advent of double-walled systems, are also influencing the neonatal infant care market.

North America accounted for the largest market share which is more than 40% of the neonatal infant market in the year 2021 and is expected to do so during the analysis period. Growing healthcare expenditures is one of the primary factors driving market growth in the region. Preliminary projections from the Centre for Medicare and Medical Services (CMS) indicates that total healthcare spending in the US will increase by 5.4% throughout the forecast period. In the United States, favorable healthcare Regulations and high healthcare spending per capita has produced a favorable climate for the adoption of newborn baby care technology. In addition, the presence of market leaders like GE Healthcare, Becton, Dickinson and Company, and Natus Medical Inc. contributes to the growth of the market in the country. These companies' strategies include product releases and expansions, which will continue to contribute to the total expansion in the US.

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