Fetal and neonatal monitoring devices are used for monitoring heart rate, blood pressure, oxygen level, and other vital physiological parameters of the fetus and contractions in the mother’s uterus. These devices are used for continuous monitoring of the fetus and mother to avoid any type of harm. These are also used to monitor chronic mental retardation, hypothermia, lung diseases, neonatal diseases, vision & hearing problems, and jaundice in fetus. Fetal monitoring is usually done using handheld Doppler device or an electronic fetal monitor. Fetal and neonatal monitoring devices are continuously evolving in terms of technology. In the recent past, continuous fetal and neonatal monitoring devices were developed, which can be connected with internet and can be accessed from anywhere. Due to these technical developments, fetal and neonatal monitoring market is expected to grow significantly in the near future.
Fetal and Neonatal Monitoring Market - Impact of Coronavirus (Covid-19) Pandemic
The pandemic of COVID-19 has significantly augmented demand for several drugs and devices market. The spread of coronavirus is also positively impacting the sales of fetal and neonatal monitoring products, as the rate of child birth has not reduced. Furthermore, the U.S.FDA eases rules for imaging systems, fetal and maternal monitoring devices amid COVID-19. For instance, in April 2020, the U.S. FDA issued guidance detailing relaxed policies for imaging systems and non-invasive fetal and maternal monitoring devices to increase availability of the devices amid the coronavirus disease (COVID-19) pandemic. Within the guidance, FDA explains that for the duration of the public health emergency, it does not intend to object to certain modifications made to imaging systems and image analysis software, including modifications to make imaging systems mobile or portable.
The global fetal and neonatal monitoring market was valued at US$ 8,101.1 million in 2020 and is expected to exhibit a CAGR of 6.9% over the forecast period (2019-2027).
Figure 1: Global Fetal and Neonatal Monitoring Market Share (%) Analysis, By Product Type, 2019
Increasing FDA Approvals and Technological Advancements are expected to Drive Growth of the Fetal and Neonatal Monitoring Market over the Forecast Period.
The fetal and neonatal monitoring market is expected to witness significant growth, owing to increasing number of product approvals by the U.S. FDA over the forecast period. For instance, in December 2019, Masimo announced that RD SET sensors with Masimo Measure-through Motion and Low Perfusion SET pulse oximetry received the U.S. FDA clearance for improved oxygen saturation (SpO2) accuracy specifications for neonatal patients (<3 kg).
Moreover, manufacturers are highly focused on technological developments such as internet-based devices, Bluetooth-based devices, continuous monitoring devices, and others in the fetal and neonatal monitoring systems. Such technological advancements in the fetal and neonatal monitoring systems is expected to boost the fetal and neonatal monitoring market growth over the forecast period. For instance, Novii Wireless Patch System by General Electric Company is a maternal/fetal monitor that non-invasively measures and displays fetal heart rate, maternal heart rate, and uterine activity. The patch incorporates ECG electrode areas, which pick up ECG and EMG signals from the skin surface and then transfers them to the Novii Pod.
Fetal and Neonatal Monitoring Market Report Snapshots
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