The Neonatal Infant Care Market will be worth US$ 1.9 Bn at a CAGR of 6.5% between 2020 to 2030. With seamless digital exploration on the anvil, greater patient volume is likely to be enclosed worldwide with no geographical barriers to hold back. Telehealth is there is added to the digital transformation wave, thereby revolutionizing the healthcare vertical.
Presently, various types of neonatal monitoring, assistance, and therapeutic care equipment are available commercially. Demand for neonatal infant care equipment is increasing across regions owing to rising prevalence of preterm birth complications and incidence of jaundice in neonates.
Technological advancements along with improvements in available neonatal infant care equipment have benefitted manufactures and users alike. Demand has been increasing significantly across both, developed as well as emerging economies. There is especially high demand for thermoregulation devices such as warmers, incubators, eye masks, and monitoring systems.
According to a revised report published by Persistence Market Research, the global neonatal infant care equipment market was valued at US$ 1.9 Bn in 2019, and is predicted to witness an impressive CAGR of 6.5% over the forecast period (2020–2030).
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Companies covered in Neonatal Infant Care Market Report
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Key Takeaways from Market Study
“New product approvals and launch of advanced neonatal equipment, along with growing demand for jaundice management in newborns, are factors aiding market expansion,” says a Persistence Market Research analyst.
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Collaborations and Acquisitions by Key Players
Prominent players in the global neonatal infant care equipment market are firming their product ranges through acquisitions and collaborations to reach out to emerging markets. Leading manufacturers are actively focusing on technological advancements as well. Manufacturing capacity expansion is expected to remain a crucial trend over the coming years.
Increasing Focus on Distribution Network
Neonatal infant care equipment manufacturers are following a collaborative approach, between companies and nursing homes or maternal hospitals, which is expected to enhance their distribution networks across regions.
Multinational companies such as GE Healthcare and Fanem Ltda. have signed strategic alliances with hospitals for supplying neonatal infant care equipment, to improve their distribution network in emerging markets.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the neonatal infant care equipment market in its latest study, presenting historical demand assessment of 2015 – 2019 and projections for 2020 – 2030.
The research study is based on product (thermoregulation devices [radiant warmers, neonatal incubators, and neonatal cooling systems], phototherapy devices [LED phototherapy units, CFL phototherapy units, and phototherapy eye masks], monitoring systems [neonatal ventilation, brain monitoring, blood gas monitoring system], hearing screening and vision screening) and end user (hospitals, pediatric & neonatal clinics, and nursing homes), across seven key regions of the world.
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