Dublin, April 25, 2024 (GLOBE NEWSWIRE) -- The "Global Neonatal Intensive Care Market, By Product Type, By Application, By End User, Regional Analysis, Key Company Profiles, Trends and Recent Developments - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global neonatal intensive care market is predicted to reach US$ 4.93 Billion by 2030, from US$ 3.45 Billion in 2023
The factors such as the rising incidence of preterm births, increasing prevalence of chronic diseases among newborn babies, and technological advancements in neonatal intensive care devices are likely to propel market growth over the forecast period. For instance, in 2022, there were 380,548 preterm births in the United States, representing 10.4% of live births.
North America dominated the global neonatal intensive care market in 2023, followed by Europe. The rising incidence of preterm births and increasing prevalence of chronic diseases among newborn babies in the region will likely supplement the market growth over the forecast period. For instance, in 2022, there were 380,548 preterm births in the United States, representing 10.4% of live births.
Furthermore, according to the research article published in the European Journal of Pediatrics, in 2021, the estimated rate of preterm births in Europe was 8.7 and is one of the major causes of death in early childhood in the region. According to Bliss, the leading U.K.-based charity organization, around 100,000 babies, i.e., 1 in 7 babies born in the U.K., are admitted to a NICU every year, thereby accelerating the demand for neonatal intensive care units.
The rising awareness among the population in developed and developing nations about neonatal care, and the growing number of NICU admissions are likely to propel market growth over the forecast period.
By Product: Global Neonatal Intensive Care Market - Key Takeaways
The respiratory devices segment dominated the neonatal intensive care market in 2023, and this trend is expected to continue over the forecast period, owing to rising preterm births, increasing respiratory disorders such as respiratory distress syndrome (RDS), which require NICU admissions as well as the launch of the new products. In the United States, around 1% of neonates suffer from respiratory distress syndrome (RDS) after birth. Additionally, it is the leading cause of death in neonates in the country.
A neonatal incubator is an enclosure where an infant can be kept in a controlled environment for observation and care. These devices help regulate temperature, humidity, and oxygen levels to promote the neonate's growth and development. The introduction of highly advanced neonatal incubators and an increase in the number of neonatal admissions are fueling the demand for neonatal incubators.
Neonatal monitoring devices such as cardiac monitors are used in neonatal intensive care units for continuous monitoring of neonates. Continuous measurement of blood gases, heart rate, and other vital parameters can be performed with neonatal monitoring devices. Recently, in May 2023, Sibel Health received the U.S. FDA 510(k) clearance for its Anne One neonatal and infant monitoring platform.
The growing number of births with jaundice in developed and developing countries and rising awareness levels among the people regarding novel treatments and adopting the latest technologies are expected to boost the global neonatal phototherapy equipment market growth.
By Application: Global Neonatal Intensive Care Market - Key Takeaways
The neonatal hypothermia & low birth weight segment dominated the market in 2023, and this trend is expected to continue over the forecast period, owing to the increasing prevalence of neonatal hypothermia and the rise in the incidence of preterm birth. Neonatal hypothermia has been considered a leading cause of mortality and morbidity among preterm and low-birth weight neonates. Preterm and low birth weight infants are at increased risk for developing hypothermia.
The growing number of births with jaundice and rising awareness levels among people regarding novel treatments and adopting the latest technologies are expected to drive the growth of this segment. According to the Scholars Journal of Medical Sciences, around 25-40% of newborn babies are diagnosed with jaundice every year.
By End User: Global Neonatal Intensive Care Market - Key Takeaways
The neonatal & pediatric hospital facilities dominate the global neonatal intensive care market because of their specialized information, dedicated infrastructure, and comprehensive services. Neonatal & pediatric hospitals' potential to offer round-the-clock care, access to advanced technology, and seamless coordination for neonatal patients solidifies their dominance in the global NICU market.
The hospitals segment is expanding rapidly mainly due to the availability of highly advanced neonatal equipment in these settings. The increased government efforts to expand the healthcare sector, particularly the infrastructure of hospitals, can be credited with the segment market's rise.
The maternity hospital end user segment is likely to witness considerable growth over the forecast period. The increasing number of maternity hospitals offering neonatal intensive care services worldwide increases the popularity of this segment.
This 159 Pages report with 89 Figures and 8 Tables has been analyzed from 9 viewpoints:
- Global Neonatal Intensive Care Market and Forecast (2018 - 2030)
- Global Neonatal Intensive Care Market Share and Forecast (2018 - 2030)
- By Product - Global Neonatal Intensive Care Market and Forecast (2018 - 2030)
- By Application - Global Neonatal Intensive Care Market and Forecast (2018 - 2030)
- By End User - Global Neonatal Intensive Care Market and Forecast (2018 - 2030)
- By Region - Global Neonatal Intensive Care Market and Forecast (2018 - 2030)
- Global Neonatal Intensive Care Market - Recent Developments
- Global Neonatal Intensive Care Market - Company Profiles
- Global Neonatal Intensive Care Market Dynamics - SWOT Analysis, Key Trends and Developments, Growth Drivers & Challenges
Global Neonatal Intensive Care Market - Company Profiles
- Masimo Corporation
- 3M Company
- Medtronic PLC
- Koninklijke Philips N.V.
- Siemens Healthineers
- Terumo Corporation
- AngioDynamics, Inc.
- Dragerwerk AG & Co. KGaA
- Inspiration Healthcare Group plc
- GE HealthCare Technologies Inc.
- Fisher & Paykel Healthcare Corporation Limited
- Phoenix Medical Systems (P) Ltd.
- Becton, Dickinson and Company (BD)
- B. Braun Melsungen AG
By Product - Global Neonatal Intensive Care Market and Forecast
- Warmers
- Incubators
- Normal Incubators
- Transport Incubators
- Hybrid Incubators
- Monitoring Devices
- Respiratory Devices
- Phototherapy Equipment
- Catheters
- Others
By Application - Global Neonatal Intensive Care and Forecast
- Neonatal Hypothermia & Low Birth Weight
- Jaundice
- Others
By End User - Global Neonatal Intensive Care Market and Forecast
- Hospitals
- Maternity Hospitals
- Neonatal & Pediatric Hospitals
By Region - Global Neonatal Intensive Care Market and Forecast
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Netherlands
- Belgium
- Switzerland
- Asia Pacific
- Japan
- China
- India
- Indonesia
- South Korea
- Australia
- South America
- Argentina
- Brazil
- Middle East and Africa
- UAE
- Saudi Arabia
- South Africa
For more information about this report visit https://www.researchandmarkets.com/r/l85flf
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