Neonatal Intensive Care Market Size, Share, Growth Analysis, By Product(Neonatal incubators, Neonatal phototherapy system, Neonatal ventilators, Neonatal monitors), By End users(Hospitals and Specialty clinics), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Neonatal Intensive Care Market?

The competitive environment of the global Neonatal Intensive Care market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. 'Drägerwerk AG & Co. KGaA', 'Cardinal Health', 'Koninklijke Philips N.V.', 'Medtronic', 'GE Healthcare', 'Vyaire', 'BD', 'Fisher & Paykel Healthcare Limited', 'Masimo', 'Phoenix Medical Systems (P) Ltd.', 'Natus Medical Incorporated', 'Utah Medical Products, Inc.', 'Ambu A/S', 'Inspiration Healthcare Group plc', 'Atom Medical Corp'.

Report ID: SQMIG35A2803 | Region: Global | Published Date: April, 2024
Pages: 219 | Tables: 63 | Figures: 70

Neonatal Intensive Care Market Insights

Global Neonatal Intensive Care Market size was valued at USD 2.17 billion in 2022 and is poised to grow from USD 2.35 billion in 2023 to USD 4.45 billion by 2031, growing at a CAGR of 8.3% in the forecast period (2024-2031).

The World Health Organization (WHO) reports that there are a staggering 15 million premature births worldwide each year, and this number is increasing rapidly. Preterm birth has emerged as the leading cause of child neonatal mortality worldwide, creating a huge demand for Neonatal Intensive Care Units (NICUs) in hospitals. The increasing pregnancy rate highlights the urgent need for adequate healthcare facilities in hospitals, especially with the increasing involvement of private organizations in the healthcare sector.

Furthermore, the growth trajectory of the global neonatal intensive care market is anticipated to have an impact on the growing demand of healthcare professionals for improving NICU equipment. As healthcare providers are increasingly aware of the latest technological developments and innovations in neonatal care, the market is poised to accelerate due to increased collaboration among industry players in addition to increasing adoption of state-of-the-art equipment in the NICU.

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Neonatal Intensive Care Market size was valued at USD 2.17 billion in 2022 and is poised to grow from USD 2.35 billion in 2023 to USD 4.45 billion by 2031, growing at a CAGR of 8.3% in the forecast period (2024-2031).

The competitive environment of the Neonatal Intensive Care market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. 'Drägerwerk AG & Co. KGaA', 'Cardinal Health', 'Koninklijke Philips N.V.', 'Medtronic', 'GE Healthcare', 'Vyaire', 'BD', 'Fisher & Paykel Healthcare Limited', 'Masimo', 'Phoenix Medical Systems (P) Ltd.', 'Natus Medical Incorporated', 'Utah Medical Products, Inc.', 'Ambu A/S', 'Inspiration Healthcare Group plc', 'Atom Medical Corp'

The increasing incidence of preterm births worldwide can be attributed to the rise in chronic diseases such as diabetes and hypertension, as well as increasing sedentary lifestyles behaviors, and other related factors are characterized by sedentary lifestyles that further increase the risk of preterm birth.

Innovations in medical technology are proving increasingly important in shaping the nascent device landscape, facilitating the development of high-quality, feature-rich solutions. Increasing technological advances have led to a sharp rise in the demand for specialized neonatal care equipment in both developed and developing countries. Notably, a state-of-the-art incubator and the development of an MRI-compatible incubator stands out as a noteworthy advancement in technological sophistication. These developments are anticipated to accelerate the neonatal care equipment market, featuring a discrete objective to provide improved primary care to critically ill newborns.

Asia-Pacific asserted its dominance in the neonatal intensive care market, with a large market share of 54.35%. This regional dominance can be attributed to the significant progress in technological advancement in pediatric intensive care devices. Asia Pacific has made impressive strides in developing and adopting new technologies, improving the overall environment for newborn education. Furthermore, rising premature birth rates in the region have contributed to demand for a great solution for neonatal intensive care, and to fuel further market growth.

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Neonatal Intensive Care Market Size, Share, Growth Analysis, By Product(Neonatal incubators, Neonatal phototherapy system, Neonatal ventilators, Neonatal monitors), By End users(Hospitals and Specialty clinics), By Region - Industry Forecast 2024-2031

Neonatal Intensive Care Market Insights

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