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Market Scope
Market
Research Future (MRFR) expects the fetal and neonatal care equipment market to
attain a growth rate of 6.8% from 2020 to 2027 (analysis period).
Primary Boosters and Restraints
The
UNICEF/United Nations International Children's Emergency Fund reveals that
close to 3.5 million infants died in their first month in the year 2017 worldwide.
Preterm and babies born with low weight are prone to multiple health issues and
therefore, need specialized care. With the disconcerting rise in such cases, fetal and neonatal equipment care marketis bound to note rampant demand in the
years to come. Innovations in fetal and neonatal care equipment that have
better features and functions, better bioinformatics analysis and improved
chemistry should also spur the demand. Improvements in reimbursement policies
with respect to low-risk and average pregnancies also enhances the market size.
Excessive
burden of neonatal hospital-acquired infections and the mounting awareness
regarding the latest neonatal care equipment could also boost growth rate of
the global market between 2020 and 2027. Companies are constantly striving to
develop advanced equipment to bolster their sales, in order to remain
competitive in the global market. Most of these players also work on fostering
their portfolios to fortify their market standings, while also launching new
tools in the market.
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Prominent Contenders
Utah
Medical Products, Inc., Philips Healthcare, Toitu Co., Ltd., GE Healthcare,
Edan Instruments Inc., Masimo Corporation, Fisher & Paykel Healthcare
Limited, Arjo, Atom Medical Corporation, Cardinal Health, Drägerwerk AG &
Co. KGaA, Natus Medical Incorporated, Phoenix Medical Systems Pvt. Ltd.,
Medtronic PLC, Vyaire Medical Inc. are the eminent firms active in the fetal
and neonatal care equipment industry.
Market Segmentation
The
market for fetal and neonatal care equipment has been divided into type,
product, and end user.
The
major types covered in the MRFR report are fetal pulse oximeters, fetal
monitors, fetal MRI systems, fetal doppler devices and fetal ultrasound devices.
The types of fetal monitors available in the market are intrapartum fetal
monitors as well as antepartum fetal monitors.
Products
listed in the market study include neonatal phototherapy equipment, Infant
warmers, convertible warmers & incubators, neonatal incubators, neonatal
monitoring devices, neonatal diagnostic imaging devices and respiratory care
devices.
Fertility
centres, hospitals & clinics, and others are the prominent end-users in the
global industry.
Regional
Status
The
global industry has been regionally considered for Asia Pacific/APAC and MEA or
Middle East & Africa coupled with the Americas as well as Europe.
The
American market has procured the leading position, with the highest demand
witnessed in Canada and the US. These countries are home to numerous
well-established firms offering extensive ranges of fetal and neonatal care
equipment and services. The region’s strong focus on delivering value-based
medical care has given way to the development of sophisticated NICU centers.
Meanwhile, the surge in the number of FDA approvals for fetal and neonatal care
tools and equipment also benefit the American market.
Europe’s
strong growth in the global market is the result of the exhaustive research and
development activities carried out by leading companies. Government’s support
as well as the availability of favorable reimbursement schemes also render
significant market growth. Constant launch of technically advanced equipment
and tests should encourage market expansion in the ensuing years as well.
Since
several global players are gaining entry into Asia Pacific, sensing the host of
lucrative opportunities, it is believed that the regional market will progress
at the fastest rate in the years to come. On top of that, constant advancements
in the healthcare sector, backed by rising investments and the surge in
research activities carried out by local firms also enhance the growth
potential of the APAC market. Growth in people’s per capita income and the
soaring demand for well-equipped medical facilities present attractive
opportunities as well.
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