New York, Sept. 05, 2023 (GLOBE NEWSWIRE) -- The global Infant Radiant Warmer Market is expected to witness significant growth at a CAGR of 5.1% during the forecast period of 2023-2030. This growth is attributed to improvements in healthcare infrastructure.
According to a recent report by Consegic Business Intelligence, the infant radiant warmer market is poised for strong expansion and is expected to reach USD 2,811.38 million by 2030. The market, which was valued at USD 1,891.51 million in 2022, is projected to grow at a compound annual growth rate of 5.1% during the period 2023-2030. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the infant radiant warmer market.
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An infant radiant warmer is a crucial medical device used in neonatal care to create a controlled and warm environment for newborns. This technology helps maintain the infant’s body temperature, as they are highly susceptible to heat loss. By utilizing a heat source and a reflective surface, radiant warmers offer a gentle and consistent heat distribution to keep the baby comfortable.
These devices often come with adjustable settings to tailor the temperature to the infant’s needs. Infant radiant warmers play a vital role in providing a stable environment for premature or sick newborns, contributing to their overall well-being and growth during the critical early stages of life.
Global Infant radiant warmer market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | 2,811.38 Million |
| CAGR (2023-2030) | 5.1% |
| By Type | Standard Infant Radiant Warmer and Portable Infant Radiant Warmer |
| By Mode of Operation | Manual and Automatic |
| By End Use | Hospitals, Gynecology Clinics, Baby Care Centers, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | SS TECHNOMED (P) LTD., Avante, GE HealthCare, Advin Health Care, Apothecaries Sundries Mfg. Pvt. Ltd., Drägerwerk AG & Co. KGaA, GPC Medical Ltd., and nice Neotech Medical Systems Pvt. Ltd. |
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Global Infant radiant warmer market Segmentation Details:
Based on Type, in 2022, the standard infant radiant warmer segment contributed the largest market shares in the infant radiant warmer market. The growth of the segment is attributed to the growing awareness among parents and healthcare providers about the importance of maintaining the body temperature of newborn infants. Further, the growing need for healthcare facilities to provide care for newborn infants is also fostering segment growth.
Based on Mode of Operation, in 2022, the manual segment contributed the largest market shares in the infant radiant warmer market. Manual operated infant radiant warmers are typically less expensive than automatic infant radiant warmers. These devices are also more portable, as they do not require an electrical outlet to operate. Hence, the aforementioned benefits are driving the demand for manual infant radiant warmers.
Based on End Use, in 2022, the hospitals segment contributed the largest market shares in the infant radiant warmer market. Infant radiant warmers are an important tool for providing care for newborn infants in hospitals. The growth of the segment is attributed to the growing government initiatives in the healthcare industry. Governments are working to improve the quality of healthcare by introducing accreditation standards for hospitals and clinics.
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Based on Region, in 2022, North America accounted for the largest share contribution of 38.50% to the market growth driven by the increasing government initiatives and growing focus on child survival research. Moreover, strengthening health systems and increasing access to services for mother child health is propelling the demand for infant radiant warmers in the region.
Competitive Landscape
GE HealthCare, Avante, and SS TECHNOMED (P) LTD., among others, are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more efficient, and cost-effective. Further, the infant radiant warmer market is expected to grow steadily due to population growth, changing lifestyles, and technological advancements among others. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
Key Market Takeaways
- Based on type, the standard infant radiant warmer segment accounted for the highest market share in the infant radiant warmer market statistics in 2022.
- Based on mode of operation, the manual segment accounted for the highest market share in the infant radiant warmer market statistics in 2022.
- Based on end use, the hospitals segment accounted for the highest market share in the infant radiant warmer market statistics in 2022.
- Asia Pacific is expected to grow at the fastest CAGR of 5.6% during the forecast period due to the rise in government initiatives for healthcare facilities.
- In 2022, North America accounted for the highest market share of 38.50% and was valued at USD 728.23 million and is expected to reach USD 1,086.60 million in 2030.
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List of Major Global Infant radiant warmer market:
- SS TECHNOMED (P) LTD.
- Avante
- GE HealthCare
- Advin Health Care
- Apothecaries Sundries Mfg. Pvt. Ltd.
- Drägerwerk AG & Co. KGaA
- GPC Medical Ltd.
- nice Neotech Medical Systems Pvt. Ltd.
Global Infant radiant warmer market Segmentation:
- By Type
- Standard Infant Radiant Warmer
- Portable Infant Radiant Warmer
- By Mode of Operation
- Manual
- Automatic
- By End Use
- Hospitals
- Gynecology Clinics
- Baby Care Centers
- Others
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Frequently Asked Questions in the Infant Radiant Warmer Market Report
- What was the market size of infant radiant warmer in 2022?
- In 2022, the market size of infant radiant warmer was USD 1,891.51 million.
- What will be the potential market valuation for infant radiant warmer by 2030?
- In 2030, the market size of infant radiant warmer is expected to reach 2,811.38 million.
- What is the key restraint hampering the growth of the infant radiant warmer market?
- Risk of infections is likely to restrict the infant radiant warmer market growth.
- What is the dominating segment in the infant radiant warmer market, by type?
- In 2022, the standard infant radiant warmer segment accounted for the highest market share in the overall infant radiant warmer market.
- Based on current market trends, which geographical region contributed the largest share in the market?
- North America accounted for the largest market share in the infant radiant warmer market.
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