BRUSSELS, BELGIUM, April 26, 2023 (GLOBE NEWSWIRE) --
Fetal monitoring devices are diagnostic tools used to monitor the vital parameters of fetal throughout pregnancy, labor, and delivery. During the first trimester, it is primarily used for monitoring fetal heart rate and fetal movement. These systems help in identifying any disorders or birth defects, monitor fetal health, and track uterine contractions to ensure the safe birth of the baby.
Despite a Slowdown in the Demand Owing to Covid-19, the Fetal Monitoring Devices Market Stays Resilient
The Covid-19 Pandemic changed the complete socio-economic scenario in the healthcare sector. Due to safety reasons, the hospitals had to limit the volume of patients, reducing the fetal monitoring procedures. During the pandemic, healthcare providers delayed or rescheduled fetal monitoring procedures to minimize the risk of patients getting exposed to Covid-19. Hence, during the pandemic, there was a substantial decrease in the number of fetal monitoring procedures. However, to overcome these barriers, companies launched several innovative tools to help monitor pregnant women during COVID-19.
For instance, in June 2020, Philips launched an obstetrics monitoring solution to support clinicians and expectant mothers during the COVID-19 pandemic. The firm launched Avalon CL Fetal and Maternal Pod and Patch which reduces unnecessary physical interactions between clinicians and patients, which is of particular importance during the COVID-19 pandemic.
“Covid-19 has intensified the need for mobile solutions during pregnancy. Remote monitoring especially during labor offers several benefits such as comfort, mobility, and flexibility to expectant mothers.” -General Manager, Monitoring & Analytics, Health Technology Company, U.S.
Technological Advancements in Fetal Monitoring Devices Drives the Fetal Monitoring Devices Market
The growing demand for fetal monitoring devices/systems can be attributed to the rising prevalence of cardiopulmonary diseases, post-term pregnancy, multiple pregnancies, preterm births, initiatives taken by the government for the welfare of maternal and fetal health, and new innovations in fetal monitoring devices.
For instance,
- In November 2022, Philips announced the global launch of the Ultrasound Compact 5000 series. The system is portable, versatile and offers multiple care settings for different types of examinations with superb image quality.
Rising Cases of Preterm Births Spurs the Demand of Fetal Monitoring Devices Market
One of the key factors which are driving the fetal monitoring devices market is an increase in the number of preterm births. Research findings suggest that key reasons for preterm births are hypertension, haemorrhage, and multiple pregnancies. The rising number of preterm births has also accelerated the adoption of advanced technology in the fetal monitoring devices market. Technology advancements and rising awareness among the people are propelling the growth of fetal monitoring devices market.
For instance,
- In July 2022, Taiwanese tech startup Cubo Ai launched a new product to augment its award-winning Cubo Ai Plus Smart Baby Monitor - the AI Sleep Sensor Pad. The new addition is designed to detect the baby's breathing motion.
Key Market Challenges: Fetal Monitoring Devices Market
The high costs of fetal monitoring devices, along with-it the availability of refurbished monitors in the market, the stringent government policies, and the lack of skilled professionals will be expected to adversely impact the growth of the fetal monitoring devices market in the upcoming years.
North America Accounts for the Largest Share of the Global Fetal Monitoring Devices Market
North America holds the largest market share of the fetal monitoring devices market. This can be mainly attributed due to rising number of preterm births, increasing maternal age, obesity & smoking, favourable government initiatives related to maternal and fetal health, growing availability of experts and neonatal intensive care units (NICUs), presence of key players and the developed healthcare system in the region. However, the Asia-Pacific region is expected to grow with the highest CAGR in the forecast period. Factors such as low-weight births, constant development in the healthcare sector, a rising number of marital-age individuals, an increase in the number of infertility treatments, rise in demand for advanced fetal monitoring devices are some of the key factors driving the Asia-Pacific market.
Competitive Landscape Analysis: Fetal Monitoring Devices Market
The key players operating in the global fetal monitoring devices market are Medtronic PLC, Koninklijke Philips NV, GE Company (GE Healthcare), and Siemens Healthineers, among others.
Organic and Inorganic Growth Strategies Adopted by Leading Market Players to Establish Their Foothold in the Fetal Monitoring Devices Market
All leading players operating in this global market are adopting both the organic and inorganic growth strategies such as collaborations, acquisitions, and new product launches to garner a larger market share.
For instance,
- In February 2023, GE Healthcare acquired Caption Health. Captions Health Inc., AI applications combined with G.E. Healthcare’s ultrasound devices will enhance ultrasound imaging, diagnosis, patient care and ultimately reduce the costs.
The global fetal monitoring devices market is a growing market and is expected to gain further momentum in the upcoming years due to a strong emphasis on developing new wireless and non-invasive monitors, investment in R&D to introduce several advanced products, and aggressive organic and inorganic growth strategies followed by the leading market players.
Explore Detailed Insights on Fetal Monitoring Devices Market Report @ https://meditechinsights.com/fetal-monitoring-devices-market/
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