Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Neonatal & Prenatal Care Market - Global Industry Size, Share, Trends Opportunity, and Forecast 2018-2028" report has been added to ResearchAndMarkets.com's offering.
The global neonatal and prenatal care market was valued at USD 7.68 billion in 2022, with expected growth at a CAGR of 6.35% through 2028.
Key Market Drivers and Trends
With rising incidences of preterm births, increasing awareness of prenatal and neonatal care, government initiatives, and rapid technological innovations within the healthcare sector, the market is poised to meet the ever-expanding needs in this crucial area of healthcare.
Rising Preterm Births Driving Demand for Specialized Care
Premature births pose significant challenges to healthcare systems worldwide, necessitating specialized equipment and medical expertise. As a key market driver, this rise in preterm birth rates has created a vital requirement for neonatal intensive care units (NICUs) and a suite of neonatal equipment to support these vulnerable infants' health.
Increasing Awareness and Government Initiatives Enhancing Market Growth
Awareness campaigns and educational programs have enhanced understanding of the importance of prenatal and neonatal healthcare, resulting in increased demand for services. Government initiatives across various countries have further bolstered the growth of this sector through investments in healthcare infrastructure, subsidies, and public-health campaigns.
Technological Innovations: A Catalyst for Market Expansion
The healthcare sector's rapid technological advancement is transforming prenatal and neonatal care services, offering new, improved diagnostic and treatment methodologies. This progress has resulted in an enhanced demand for state-of-the-art equipment.
Key Challenges to Address
Amidst the positive outlook, the industry faces challenges such as declining birth rates in developed countries and economic constraints coupled with a lack of awareness in developing regions. These factors pose potential restraints on market growth.
High Birth Rates in Emerging Markets to Sustain Demand
Emerging nations with higher birth rates are set to substantially contribute to the expansion of the neonatal and prenatal care market. The demographic shift towards a larger youthful population along with improving healthcare access in these regions ensures a continual uptrend in service demand.
Investments by Healthcare Bodies to Further Industry Momentum
With growing investments from both governing bodies and healthcare providers, the neonatal and prenatal care market is witnessing enhanced services, reflecting growing efforts to improve maternal-infant health outcomes.
Segmental Insights and Competitive Landscape
The market is extensively catered to by hospitals, with this segment showing a dominant performance bolstered by technological superiority and specialist availability. The competition within the neonatal & prenatal care market is defined by a certain number of key players, each contributing to the industry’s dynamic nature through strategic initiatives and innovation.
- Prenatal Equipment: Including fetal dopplers, monitors, and MRI systems.
- Neonatal Equipment: Ranging from incubators to phototherapy equipment and neonatal monitoring devices.
With specific attention to respiratory care applications due to the prevalence of respiratory complications in neonates, this sector showcases substantial growth and development in product offerings.
Regional Dominance
Regions like North America continue to lead the market, with significant contributions from Europe and Asia-Pacific regions. The increased market share is a testament to the advanced technology, enhanced healthcare systems, and strong regulatory frameworks in place which facilitate market growth.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 181 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $7.68 Billion |
| Forecasted Market Value (USD) by 2028 | $11.13 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes:
- Atom Medical Corporation
- GE Healthcare
- Getinge AB
- Koninklijke Philips N.V.
- Masimo Corporation
- Medtronic PLC
- Natus Medical Incorporated
- Phoenix Medical Systems (P) Ltd.
- Vyaire Medical Inc.
- Becton, Dickinson and Company
For more information about this report visit https://www.researchandmarkets.com/r/os9i3p
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