The leading cause of neonatal deaths worldwide is prematurity. Increasing number of newborns die each year or suffer from various disabilities. Neonatal infant care equipment is used for newborn care such as monitoring all the organs in the body and their working condition, respiratory assistance, thermo-regulation, and others. In order to help get a better understanding of the market, Persistence Market Research has developed a report on the global neonatal infant care equipment market.
The report provides details on the performance of the global market for neonatal infant care equipment on the basis of volume and value contribution. The report also offers details on all the major trends, driving factors, challenges, and growth opportunities playing an important role in the growth of the global neonatal infant care equipment market during the forecast period 2017–2024. Analysis of all the key challenges and market drivers based on the weighted average model are provided in the report to help clients in the decision-making process.
The global neonatal infant care equipment market report also consists details on all the neonatal infant care products developed by major players in the market. The report also offers details on all the major companies as well as all the new entrants in the market. New developments, product portfolio, financial overview and business overview are also provided in the report. This information helps the manufacturers to plan the long-term and short-term strategies to compete in the global market for neonatal infant care equipment.
The report has also segmented the global neonatal infant care equipment market based on the product type, end user, and region. These key segments are further divided into sub-segments. The key regions are also segmented into countries. This helps in understanding the performance of the market and identify growth opportunities. The report offers data on all the segments, sub-segments, regions, and countries in terms of basis point share, revenue expected to be generated during the forecast period 2017-2024.
The report on the global market for neonatal infant care equipment is based on both primary and secondary research. Interviews of market experts were conducted to get a clear picture of the market. The opinions provided by respondents were cross-checked with the valid data source. The secondary research was done based on the financial and annual reports of the leading companies operating in the global neonatal infant care equipment market. Moreover, the report provides details on the market based on the qualitative and quantitative analysis of the market.
The report also offers important insights on the global neonatal infant care equipment market by providing SWOT analysis, market attractiveness analysis, and Porter’s five force analysis. Market attractiveness analysis also includes the market attractiveness index, this helps in identifying all the opportunities for growth in the market for manufacturers.
The data in the report is provided in terms of CAGR, volume, value, year-on-year growth, market size, and market share. Both historical and estimated numbers are provided to provide a clear picture of the current scenario in the market.
A report also sheds light on all the leading companies in the market and detailed profile of each of the company is offered to help client plan strategies and compete in the global market for neonatal infant care equipment
Equipment such as life-support system and other monitoring devices are being provided with modifications as per the need of small babies. Many equipment used for monitoring blood sampling, baby’s condition and body weight are being used on a large scale in hospitals. Nowadays with the increasing number of premature births, companies are developing special equipment that can help in treating various conditions in such babies. Increasing awareness about the availability of equipment in the market and rise in birth rate, especially in the developing is driving the demand for neonatal infant care equipment. Incubators are also being used to in the case of preterm babies. Technically advanced and smart incubators are also being developed by companies to provide protection from cold temperature, noise, infection, to provide oxygenation, observation, administration of medicines, and to maintain fluid balance.
Some of the common diagnosis in neonatal intensive care unit include anemia, jaundice, respiratory distress syndrome, and neonatal sepsis. Hence, manufacturers are also looking for the most common problems among newborns and developing equipment accordingly. The problems also vary region-wise and country-wise, hence, companies are also looking for any particular problem that is very common among newborns in the specific region or country.
As per the report by Persistence Market Research, the global market for neonatal infant care equipment is expected to see a strong growth between 2017 and 2024. The global neonatal infant care equipment market is projected to reach US$ 2,686.7 Million revenue towards the end of 2024.
Thermoregulation Devices to Account for the Highest Sales in the Global Market for Neonatal Infant Care Equipment
Thermoregulation devices are witnessing significant growth in the market as infant thermoregulation is the most important for very sick infants who are suffering from the problem of hypothermia. According to the World Health Organization (WHO), more than 96% of infants born in developing countries weight less than 2,500g. Hence, hypothermia is the most common problem among infants. In such a condition, thermoregulation devices or technologies are considered to the most important in treating. Although incubators are considered as the most advanced warming device, it is very expensive and can also increase the risk of infection. This is also one of the major factors contributing to the growth of thermoregulation devices.
Companies across the globe are also developing thermoregulation devices specifically priced and marketed for low-resource settings. The thermoregulation devices provided by companies also include training for end users and maintenance and repair of devices. Researchers across the world also concluded that protection against excessive heat loss and adequate thermal environment can play a significant role in the survival of premature babies.
Hospitals to Emerge as Largest Users of Neonatal Infant Care Equipment
Government across the globe are also investing in hospitals to make it technically advanced. New equipment and devices are being deployed for taking care of newborn. Meanwhile, pediatric & neonatal clinics, and nursing homes are also using neonatal infant care equipment.
Increase in Birth Rate to Drive the Demand for Neonatal Infant Care Equipment
The global population is expected to keep growing in the coming years. Moreover, countries such as India and China account for highest birth rates. Hence, the demand for infant care equipment is also growing in these countries. Meanwhile, in some countries where the death rate is overtaking birth rate and where the population is shrinking, governments are taking measures to the increase birth rate. Various initiatives by government also include providing better facilities for mother and child care. This is also likely to fuel the growth of the global neonatal infant care equipment market.