Prematurity is one of the leading causes of neonatal deaths worldwide. Over one million new-borns die prematurely each year, and those who survive suffer from various disabilities. Neonatal equipment includes devices that are utilized in various applications for neonatal care such as respiratory assistance, monitoring, thermoregulation, and others. Major growth drivers in this segment are increasing age of maternal population, increasing rate of premature births, high birth rates especially in emerging economies, technological advancements, and increasing awareness levels about neonatal care.
This report covers the global neonatal infant care equipment market performance in terms of revenue and volume contribution. The report includes key trends, drivers, restraints, and opportunities influencing growth of the global neonatal infant care equipment market over an eight-year forecast period (2016–2024). Impact analysis of key growth drivers and restraints, based on the weighted average model, are included to better equip clients with crystal clear decision-making insights.
The global neonatal infant care equipment market is mainly driven by the introduction of multi-specialty neonatal infant care products by international as well as regional players in the market. Companies are launching innovative products to overcome restraining factors such as lack of technical personnel and availability of substitute technologies, which are currently hampering market growth. Furthermore, companies are developing integrated products to address the varying needs of the medical industry across the globe, especially in countries such as China, India, and Africa.
On the basis of products, neonatal infant care equipment market is segmented into thermoregulation devices, phototherapy equipment, monitoring systems, hearing screening, and vision screening. By end user, the neonatal infant care equipment market is segmented into hospitals, pediatric and neonatal clinics, and nursing homes.
By product, revenue from the monitoring systems segment is projected to rise at the highest CAGR of 8.0% during the forecast period. The thermoregulation devices segment is expected to dominate the market, accounting for a maximum share of the overall market by 2024.
By end user, the hospitals segment is estimated to dominate the neonatal infant care equipment market, accounting for a maximum share of the overall market by 2016 end. Revenue from the pediatric and neonatal clinics segment is projected to increase at a CAGR of 7.8% during the forecast period.
In terms of value, North America dominated the market with over 35% market share in 2015 followed by Europe. In Asia Pacific, this market is projected to expand at the highest CAGR of 7.9% during the forecast period.
Key players in the global neonatal infant care equipment market are GE Healthcare, Koninklijke Philips N.V., Medtronic, Drägerwerk AG & Co. KGaA, Natus Medical Incorporated, Fisher & Paykel Healthcare Limited, Pluss Advanced Technologies Pvt. Ltd., Weyer GmbH, BabyBloom Healthcare BV, Novos Medical Systems, Medical Technology Transfer and Services Asia (MTTS Asia), and Inspiration Healthcare Group plc., Fanem Ltda.
The Neonatal Infant Care Equipment market is segmented as follows:
By Distribution Channels
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