Global Neonatal Critical Care Equipment Market By Type (Respiratory Equipment, Thermoregulation Equipment, Monitoring Equipment, Phototherapy Equipment, and Others), By Region, Industry Analysis and Forecast, 2020 - 2026
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Get in-depth analysis of the COVID-19 impact on the Neonatal Critical Care Equipment Market
The Global Neonatal Critical Care Equipment Market size is expected to reach $1.2 billion by 2026, rising at a market growth of 12.4% CAGR during the forecast period. The Neonatal Intensive Care Unit is also known as a specialized nursery. The neonatal intensive care unit is intended for preterm babies or children with high complications, as it is a highly skilled or advanced equipped unit of qualified medical and professional staff. Both clinics or hospitals or primary health centers in developing countries have their in-house neonatal care unit. More neonatal intensive care units are being built in their countries in order to reduce their pre-term mortality levels by governments in Latin America, Asia, and Africa.
Global Neonatal Critical Care Equipment Market Size
Increasing understanding of accessible prenatal and neonatal intensive care facilities and high birth levels in emerging regions is driving the growth of this market. This led to a rise in demand for neonatal intensive care centers. In addition, neonatal hospital-acquired infections such as Central Line-Associated Bloodstream Infections (CLABSI) and health-associated infections are factors that will fuel the growth.
Neonatal Critical Care Equipment Market Share
In addition, support for government policies and rapid technological advances in neonatal intensive care is expected to boost market growth. On the other hand, pre-birth expenses are very high owing to the need for technologically advanced surgical devices such as ventilators, radiant heating systems, and incubators for neonatal intensive care units (NICUs) at higher prices, increasing to the overall medical expense. Moreover, the lack of proper diagnosis and declining birth rates in some developed countries are factors that restrict the market growth.
Free Valuable Insights: Global Neonatal Critical Care Equipment Market to reach a market size of $1.2 billion by 2026
With globally rising infections of Covid-19, the apprehension of the lack of essential life-saving devices and other essential medical supplies to prevent the spread of this pandemic is also widening and providing optimum care for the infected. In addition, until pharmacological treatment is developed, ventilators act as a vital treatment preference for COVID-19 patients who may require critical care. In addition, there is an urgent need for rapid acceleration in the manufacturing process for a wide range of test kits (antibody samples, self-administration, among others).
Based on Type, the market is segmented into Respiratory Equipment, Thermoregulation Equipment, Monitoring Equipment, Phototherapy Equipment, and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cardinal Health, Inc., General Electric (GE) Co. (GE Healthcare), Medtronic PLC, Ambu A/S, Becton, Dickinson and Company, Koninklijke Philips N.V., Dragerwerk AG & Co. KGaA, Utah Medical Products, Inc., Natus Medical Incorporated, and Inspiration Healthcare Group PLC.
Recent Strategies Deployed in Neonatal Critical Care Equipment Market
- Jun-2020: Inspiration Healthcare signed an agreement to acquire S.L.E., a company engaged in designing and manufacturing ventilators for neonatal intensive care. The acquisition would help the company in becoming a leader in neonatal intensive care sector. Additionally, the acquisition would broaden its product portfolio and global distribution network.
- May-2020: Drager collaborated with Florida Hospital following which the latter company implemented the Babyleo TN500 IncuWarmer beds from the former company. The beds are in use in Neonatal Intensive Care Units (NICU) at three hospitals across the health system in Central Florida.
- Dec-2019: Inspiration Healthcare took over Viomedex, a medical device manufacturer. The acquisition broadened the company's product portfolio and provided growth opportunities to become a leader in neonatal intensive care.
- Mar-2018: GE Healthcare came into partnership with Amref Health Africa. The partnership was aimed to develop a range of in-country health care service collaborations throughout reproductive, non-communicable disease, maternal, water, sanitation, & hygiene, newborn & child health, and safe surgery.
- Nov-2017: Natus Medical announced its collaboration with Aspect Imaging, the developer of compact high-performance MRI Systems. The collaboration was aimed to distribute Embrace Neonatal MRI system in North America.
- Jul-2017: Philips partnered with the historic San Giovanni Calibita Fatebenefratelli Hospital in Rome. The partnership was aimed to introduce state-of-the-art Family Centered Care (FCC) at the hospital. The partnership enabled the San Giovanni Calibita to deliver developmentally focused, family centered mother-and-child care of the highest clinical quality.
- Feb-2017: Dragerwerk launched IncuWarmer Babyleo TN500. It offers optimal thermoregulation in closed care, open care, and transition. This device provides a stable micro-environment for the premature baby.
- Feb-2016: Medtronic acquired Bellco, a company that has developed therapies and systems for the treatment of multiple organ failure, renal failure, and sepsis. The acquisition broadened Medtronic's portfolio and helped it in providing comprehensive care for dialysis patients.
Scope of the Neonatal Critical Care Equipment Market Analysis
- Respiratory Equipment
- Thermoregulation Equipment
- Monitoring Equipment
- Phototherapy Equipment and
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Cardinal Health, Inc.
- General Electric (GE) Co. (GE Healthcare)
- Medtronic PLC
- Ambu A/S
- Becton, Dickinson and Company
- Koninklijke Philips N.V.
- Dragerwerk AG & Co. KGaA
- Utah Medical Products, Inc.
- Natus Medical Incorporated
- Inspiration Healthcare Group PLC
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Neonatal Critical Care Equipment Market Related Reports:
What would be the value of global neonatal critical care equipment market in 2026?
The neonatal critical care equipment market is projected to reach USD 1.2 billion by 2026.
What are the key factors drive neonatal critical care equipment industry?
The major factors that are anticipated to drive the neonatal critical care equipment industry include strong focus of player on the development of highly advanced neonatal equipment, increasing importance of incubators in neonatal care units, and increasing number of preterm births.
Who are the top market players in the neonatal critical care equipment industry?
Cardinal Health, Inc., General Electric (GE) Co. (GE Healthcare), Medtronic PLC, Ambu A/S, Becton, Dickinson and Company, Koninklijke Philips N.V., Dragerwerk AG & Co. KGaA, Utah Medical Products, Inc., Natus Medical Incorporated, and Inspiration Healthcare Group PLC.