Dublin, Feb. 19, 2024 (GLOBE NEWSWIRE) -- The "Global Neonatal Intensive Care Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Neonatal Intensive Care Market size is projected to reach around US$ 5.23 Billion by 2030 from US$ 3.47 Billion in 2023, growing at a CAGR of 6.04%
The worldwide surge in neonatal illnesses and problems has heightened the demand for neonatal intensive care (NICU) offerings. Contributing elements encompass maternal infections, such as rubella and the Zikavirus that can result in congenital problems necessitating NICU care.
Premature births with underdeveloped organs and vulnerable immune structures increase the chance of situations like breathing problem syndrome, accentuating the importance of NICUs. Also, congenital anomalies like heart defects are regularly named for immediate NICU intervention. The developing requirement for a specialized NICU to care for sensitive toddlers underscores its pivotal position in their well-being and long-term outcomes.
Moreover, the increasing disposable earnings in numerous international locations are essential in increasing the neonatal intensive care market. As family incomes push upward, households find it more affordable to access neonatal extensive care (NICU) offerings, which may often be high-priced. This financial accessibility ensures that a broader populace can avail themselves of the specialized care provided in NICUs. As a result, households are highly prepared to offer their untimely or critically ill infants the incredible medical attention and guidance they need to thrive, further underscoring the importance of NICUs in enhancing neonatal consequences and normal infant health.
Expanding the neonatal intensive care unit equipment market is significantly aided by increased healthcare spending, better infrastructure, and global emphasis on maternal and child health. In the U.S., the 2023 spending bill allocated an extra $200 million for NICUs, supporting initiatives like improved access, care quality, and research.
This worldwide recognition of neonatal care's significance stems from understanding neonatal issues' long-lasting effects. Enhanced healthcare infrastructure extends NICU access to remote regions. Increased spending not only maintains cutting-edge NICUs but also fuels research, providing healthcare providers with the tools to enhance neonatal survival and long-term health continually.
Incubators persistently thrive in the global neonatal intensive care market due to their indispensable role in nurturing the most fragile infants
By Products, the Global Neonatal Intensive Care Market is segmented into Warmers, Incubators, Monitoring Devices, Respiratory Devices, Phototherapy Equipment, and Others.
Incubators are sophisticated devices that replicate the protecting environment of the womb, maintaining a stable temperature, humidity, and oxygen stages critical for untimely and seriously ill newborns. The growing occurrence of untimely births and neonatal diseases drives the demand for incubators.
Advancements in technology have brought about more precise and adaptable incubators, fostering increased outcomes. Furthermore, the worldwide emphasis on maternal and child fitness and persevered funding in healthcare infrastructure ensure that neonatal care, together with incubator utilization, remains a priority for healthcare systems, promoting their continued growth in the neonatal intensive care unit equipment market.
Pediatric clinics and childcare services are experiencing robust growth in the global neonatal intensive care market
By end-user, the Global Neonatal Intensive Care Market is fragmented into hospitals and neonatal, pediatric hospitals, pediatric clinics and childcare, and others.
The worldwide neonatal intensive care market is poised for growth in pediatric clinics and childcare services. The rise in neonatal diseases, connected to maternal age, assisted reproductive technology, and environmental impacts, spurs the demand for intensive neonatal care. A substantial investment in healthcare infrastructure extends access to neonatal care, while heightened awareness of early formative year's development increases the need for superior pediatric facilities.
Growing disposable incomes make such services more reachable. Furthermore, technological advances in neonatal diagnosis and remedy and progressed care in pediatric centers power the pediatric clinics and childcare sector's expansion, addressing the escalating incidence of neonatal diseases globally.
China's market share is rapidly growing in the global neonatal intensive care market
By Countries, the Global Neonatal Intensive Care Market is split into the US, Canada, Mexico, Germany, United Kingdom, France, Italy, Spain, Switzerland, Japan, China, India, Australia, South Korea, Indonesia, Brazil, Argentina, South Africa, Saudi Arabia, United Arab Emirates, and Rest of the world.
The China neonatal intensive care market is the world's fastest developing. A rising prevalence of neonatal diseases and disorders linked to increasing maternal age, higher ART prices, and environmental pollutants spurs NICU demand. The Chinese government's considerable investments in healthcare infrastructure, which include NICUs, make them more accessible.
Increasing awareness of neonatal intensive care pushed by authority's campaigns and more health statistics availability further fuels neonatal intensive care equipment market growth. Also, growing disposable earnings make NICU services cheaper, and authorities guide market improvement through infrastructure investments and technological improvements in NICU facilities.
Competitive landscape
Masimo Corporation, 3M Company, Medtronic PLC, Koninklijke Philips N.V, Siemens Healthcare Gmbh, Terumo Corporation, Angio Dynamics, and Dragerwerk AG & Co. KGaA are the prominent players in the global neonatal intensive care market.
For instance - Automotive seating, interiors, and specialty vehicle manufacturer Pinnacle Industries unveiled its newest authorized neonatal ambulances in May 2022. These ambulances were created especially for the Maharashtra Government of India. These ambulances are outfitted with cutting-edge medical equipment and facilities to provide newborns with the best care possible.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 170 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $3.47 Billion |
| Forecasted Market Value (USD) by 2030 | $5.23 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
Company Analysis: Overview, Recent Developments, Revenue
- Masimo Corporation
- 3M Company
- Medtronic PLC
- Koninklijke Philips N.V
- Siemens Healthcare Gmbh
- Terumo Corporation
- Angio Dynamics
- Dragerwerk AG & Co. KGaA
Products - Global Neonatal Intensive Care Market breakup from 6 viewpoints:
- Warmers
- Incubators
- Monitoring Devices
- Respiratory Devices
- Phototherapy Equipment
- Others
End-User - Global Neonatal Intensive Care Market breakup from 3 viewpoints:
- Hospital & Neonatal Pediatric Hospital
- Pediatric Clinics & Childcare
- Others
Countries - Global Neonatal Intensive Care Market breakup from 21 Countries viewpoints:
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Switzerland
Asia Pacific
- Japan
- China
- India
- South Korea
- Indonesia
- Australia
Latin America
- Mexico
- Brazil
- Argentina
Middle East & Africa
- Saudi Arabia
- South Africa
- United Arab Emirates
Rest of the World
For more information about this report visit https://www.researchandmarkets.com/r/7t1004
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