What is the global market size of Neonatal Infant Care Market?

Global Neonatal Infant Care Market size was valued at USD 641.13 million in 2021 and is poised to grow from USD 698.5 million in 2022 to USD 1400 million by 2030, growing at a CAGR of 8.83% in the forecast period (2023-2030).

Neonatal Infant Care Market Size, Share, Growth Analysis, By Product Type(Infant Warmers, Convertible Warmer & Incubators, Neonatal Monitoring Devices, Respiratory Equipment), By Technology(Thermoregulation Devices, Monitoring Systems, Hearing Screening Devices, Vision Screening Equipment), By End-user(Hospitals, Diagnostic Centers, Pediatric, Neonatal Clinics), By Region - Industry Forecast 2024-2031

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

Neonatal Infant Care Market News

In September 2022, Royal Philips announced the creation of the Philips Spectral Angio CT suite detector angio CT system, which integrates spectral CT imaging technologies into a hybrid angio CT suite. Philips intends to provide physicians with immediate access to these two major imaging modalities in a single room, hence facilitating innovation in minimally invasive procedures in fields such as oncology, stroke, and trauma care.
In July 2022, Royal Philips announced its AI-powered systems and solutions at the European Congress of Radiology. Philips demonstrates how its portfolio of smart connected imaging systems and integrated radiology workflow solutions increases diagnostic confidence and clinical outcomes, reduces staff stress and burnout, improves patient engagement and access to quality care, and increases efficiency to reduce waste.

Neonatal Infant Care Market Report Snapshots

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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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Neonatal Infant Care Market News

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