Global Neonatal Infant Care Equipment Market, By Product Type (Thermoregulation Devices (radiant warmers, neonatal incubators, and neonatal cooling systems), Phototherapy Equipment (LED Phototherapy Unit, CFL Phototherapy Unit, and Phototherapy Eye Mask), Neonates Neonatal Monitoring Systems (Neonatal Ventilation, Brain Monitoring, and Blood Gas Monitoring System), Hearing Screening, and Vision Screening), By End user (Hospitals, Pediatric and Neonatal Clinics, and Nursing Homes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 2,610.2 Million in 2023 and is expected to exhibit a CAGR of 5.4% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focused on adopting growth strategies such as launch of new products, and this is expected to drive the global neonatal infant care equipment market growth. For instance, In January 2020, Sun Pharmaceutical Industries Ltd., an multinational pharmaceutical company in India, launched SEZABY for the treatment of seizures in term and preterm infants in the U.S.
Global Neonatal Infant Care Equipment Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems regarding transportation of drugs from one place to another.
COVID-19 had a positive impact on the Global Neonatal Infant Care Equipment Market. For instance,According to a July 2020 report published in the Gynecologic and Obstetric Investigation, infection with COVID-19 during pregnancy increases the risk of pregnancy problems such as preterm birth, preterm premature rupture of the membranes, and, in rare circumstances, maternal mortality.
Global Neonatal Infant Care Equipment Market: Key Developments
In November 2022, The Ministry of Public Health in U.S., partnership with United Nations International Children's Emergency Fund (UNICEF), launched the National Newborn and Prematurity Campaign to raise awareness on the importance of proper health care for newborns and premature babies and highlight the essential role of the family and health care providers.
In November 2021, Royal Philips is a health technology, announced new AI-enabled innovations in New born MR imaging software built in to automate tasks to help relieve the burden on radiology staff and Nursing departments launched at the Radiological Society of North America (RSNA).
In July 2021, CergenX is a INFANT Research Centre at University College Cork (UCC) , it is produces cutting-edge technology for the analysis of baby brain waves that can be used to identify brain injuries early in the newborn period.
Browse 38 Market Data Tables and 30 Figures spread through 180 Pages and in-depth TOC on “Global Neonatal Infant Care Equipment Market”- Forecast to 2030, by Product Type (thermoregulation devices(radiant warmers, neonatal incubators and neonatal cooling systems), Phototherapy Equipment(LED Phototherapy Unit, CFL Phototherapy Unit and Phototherapy Eye Mask) Neonates Neonatal Monitoring Systems(Neonatal Ventilation, Brain Monitoring and Blood Gas Monitoring System), Hearing Screening and Vision Screening), By End user (Hospitals, Pediatric and Neonatal Clinics and Nursing Homes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/neonatal-infant-care-equipment-market-3661
Key Takeaways of the Global Neonatal Infant Care Equipment Market :
- The global neonatal infant care equipment market is expected to exhibit a CAGR of 3 % during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global neonatal infant care equipment market. The usage of neonatal infant care equipment has been driven by high public awareness in developed economies such as the U.S. and Europe.
- Among Product Type, the thermoregulation devices (radiant warmers, neonatal incubators and neonatal cooling systems) segment is expected to hold a dominant position in the global neonatal infant care equipment market during the forecast period and this is attributed to the technological advancements in the field of neonatal infant care equipment. For instance, in January 2020, HeiQ is a material innovation creating effective, durable and high-performance thermoregulation devices, launched HeiQ Smart Temp innovative thermoregulation technology that provides fabrics with the ability to dynamically respond to body heat.
- Among region, North America is expected to be the dominant region in the global neonatal infant care equipment market, owing to the key players are focusing on spreading awareness about newborn health. For instance, on May 9, 2023, Small Vulnerable Newborn Series was launched during the International Maternal Newborn Health Conference in Cape Town, South Africa. The event unpacked the five-article Lancet Series which explores the global importance and possibilities of preventing the birth of Small Vulnerable Newborns.
- Major players operating in the global neonatal infant care equipment market include GE Healthcare, Koninklijke Philips N.V., AngioDynamics Inc, Medtronic plc, Drägerwerk AG & Co. KgaA, Natus Medical Incorporated, Pluss Advanced Technologies Pvt. Ltd., Weyer GmbH, Fisher & Paykel Healthcare Limited, BabyBloom Healthcare BV, Novos Medical Systems, Medical Technology Transfer and Services Asia (MTTS Asia), Inspiration Healthcare Group plc, and Fanem Ltda.
