The Neonatal Infant Care Market To Hit The 20/20 Vision With A CAGR Of 7%
Presently, various types of neonatal monitoring, assistance, and therapeutic care equipment are available commercially. Demand for neonatal infant care equipment is increasing across regions owing to rising prevalence of preterm birth complications and incidence of jaundice in neonates. Technological advancements along with improvements in available neonatal infant care equipment have benefitted manufactures and users alike. Demand has been increasing significantly across both, developed as well as emerging economies. There is especially high demand for thermoregulation devices such as warmers, incubators, eye masks, and monitoring systems.
According to a revised report published by Persistence Market Research, the global neonatal infant care equipment market was valued at US$ 1.9 Bn in 2019, and is predicted to witness an impressive CAGR of 6.5% over the forecast period (2020–2030).
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Companies covered in Neonatal Infant Care Market Report
Koninklijke Philips N.V
Drägerwerk AG & Co. KGaA
Natus Medical Incorporated
Fisher & Paykel Healthcare Limited
Becton, Dickinson and Company
Phoenix Medical Systems (P) Ltd.
Pluss Advanced Technologies
Novos Medical Systems
Inspiration Healthcare Group
Mead Johnson & Company, LLC
NIHON KOHDEN COPORATION
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Key Takeaways from Market Study
Based on product, thermoregulation devices are expected to represent more than 50% of the revenue share.
By end user, hospitals account for a major revenue share of 52.8%, and the trend is projected to continue during the forecast period as well, due to availability advanced facilities, point of care services, and presence of skilled professionals.
Availability of a wide range of advanced neonatal equipment, rising prevalence of preterm births, and increasing healthcare expenditure are factors aiding market growth.
North America, followed by Europe, are leading regions in the global neonatal infant care equipment market.
The market in the U.S. is projected to expand at a CAGR of nearly 7%, while that in the U.K. at 6.5%.
Both, China and India, are projected to experience a CAGR of more than 7%, on back of high birth rates in the countries.
“New product approvals and launch of advanced neonatal equipment, along with growing demand for jaundice management in newborns, are factors aiding market expansion,” says a Persistence Market Research analyst.
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Collaborations and Acquisitions by Key Players
Prominent players in the global neonatal infant care equipment market are firming their product ranges through acquisitions and collaborations to reach out to emerging markets....
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