Fetal and Neonatal Care Equipment Market Size

Fetal and Neonatal Care Equipment Market size is projected to record a noticeable CAGR from 2024 to 2032, owing to the rising cases of fetal deaths due to health complications during pregnancy.

According to a WHO report, approximately 6,700 newborns perish daily, accounting for over 47% of all child fatalities under age 5, a notable increase from 40% in 1990. The escalating incidence of preterm births and neonatal complications globally underscores the critical need for specialized equipment in neonatal care. Premature infants often require intensive medical attention and specialized equipment to address respiratory distress, temperature regulation, and nutritional support. The rising prevalence of conditions such as neonatal respiratory distress syndrome, intraventricular hemorrhage, and congenital anomalies necessitates the availability of advanced medical devices tailored to the unique needs of neonatal patients.

Fetal and Neonatal Care Equipment Market Trends

Fetal and neonatal care devices are witnessing technological upgrades to help medical experts like OBGYNs accurately detect any suspicious health issues in the fetus. Cutting-edge facilities, such as smart warming mattresses, innovative incubators, and many others, are being extensively used for premature babies to promote their early development and mitigate health complications. A great example of the developments taking place in the field of neonatal care is the UK-based video messaging service vCreate, which is helping people stay virtually connected with their babies.

Fetal and Neonatal Care Equipment Market Analysis

The ultrasound devices segment is poised to grow substantially through 2032, owing to their pivotal role in prenatal and neonatal care by enabling non-invasive imaging of fetal development and detecting potential abnormalities. With continuous advancements in ultrasound technology, newer devices offer improved imaging capabilities, enhanced portability, and real-time monitoring features, thus revolutionizing prenatal diagnosis and neonatal care practices. The ultrasound devices segment is expected to witness substantial growth owing to increasing demand for early and accurate diagnosis of fetal conditions and neonatal disorders.

The hospitals end-use segment is anticipated to garner appreciable revenues by 2032, driven by the availability of skilled medical professionals and cutting-edge equipment in these establishments. Furthermore, high patient volumes and an increasing number of hospitals incorporating NICUs as part of their infrastructure will propel segment progress over the next ten years.

North America fetal and neonatal care equipment market is expected to grow in a robust way till 2032, owing to robust healthcare infrastructure, high medical expenditure, and increasing awareness regarding neonatal health. The region boasts a well-established network of hospitals and specialty clinics equipped with state-of-the-art medical technologies, driving the adoption of advanced fetal and neonatal care equipment. Moreover, supportive government policies, stringent regulatory standards, and initiatives aimed at reducing infant mortality rates further contribute to market growth in North America. The United States, in particular, accounts for a significant share, driven by extensive R&D activities, technological innovations, and strategic collaborations among key equipment manufacturers, distributors and end-users.

Fetal and Neonatal Care Equipment Market Share

The competitive landscape of the fetal and neonatal care equipment industry includes:

• Fisher & Paykel Healthcare
• Atom Medical Corporation
• Drägerwerk
• Becton
• Dickinson and Company
• Phoenix Medical Systems
• Natus Medical
• GE Healthcare
• Medtronic
• Masimo
• Philips Healthcare (Koninklijke Philips N.V.)
  

Fetal and Neonatal Care Equipment Industry News

• In October 2023, Philips unveiled its newest advancements in OB/GYN ultrasound technology at ISUOG 2023, aimed at improving early detection and diagnostic certainty. Utilizing AI-enabled point-of-care OB/GYN ultrasound solutions and intelligent workflows, these innovations will facilitate the earlier detection of abnormalities.