The Global Neonatal Critical Care Equipment Market size is expected to reach $1.2 billion by 2026, rising at a market growth of 12.4% CAGR during the forecast period. The Neonatal Intensive Care Unit is also known as a specialized nursery. The neonatal intensive care unit is intended for preterm babies or children with high complications, as it is a highly skilled or advanced equipped unit of qualified medical and professional staff. Both clinics or hospitals or primary health centers in developing countries have their in-house neonatal care unit. More neonatal intensive care units are being built in their countries in order to reduce their pre-term mortality levels by governments in Latin America, Asia, and Africa.
Global Neonatal Critical Care Equipment Market Size
Increasing understanding of accessible prenatal and neonatal intensive care facilities and high birth levels in emerging regions is driving the growth of this market. This led to a rise in demand for neonatal intensive care centers. In addition, neonatal hospital-acquired infections such as Central Line-Associated Bloodstream Infections (CLABSI) and health-associated infections are factors that will fuel the growth.
Neonatal Critical Care Equipment Market Share
In addition, support for government policies and rapid technological advances in neonatal intensive care is expected to boost market growth. On the other hand, pre-birth expenses are very high owing to the need for technologically advanced surgical devices such as ventilators, radiant heating systems, and incubators for neonatal intensive care units (NICUs) at higher prices, increasing to the overall medical expense. Moreover, the lack of proper diagnosis and declining birth rates in some developed countries are factors that restrict the market growth.
Free Valuable Insights: Global Neonatal Critical Care Equipment Market to reach a market size of $1.2 billion by 2026
With globally rising infections of Covid-19, the apprehension of the lack of essential life-saving devices and other essential medical supplies to prevent the spread of this pandemic is also widening and providing optimum care for the infected. In addition, until pharmacological treatment is developed, ventilators act as a vital treatment preference for COVID-19 patients who may require critical care. In addition, there is an urgent need for rapid acceleration in the manufacturing process for a wide range of test kits (antibody samples, self-administration, among others).
Based on Type, the market is segmented into Respiratory Equipment, Thermoregulation Equipment, Monitoring Equipment, Phototherapy Equipment, and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cardinal Health, Inc., General Electric (GE) Co. (GE Healthcare), Medtronic PLC, Ambu A/S, Becton, Dickinson and Company, Koninklijke Philips N.V., Dragerwerk AG & Co. KGaA, Utah Medical Products, Inc., Natus Medical Incorporated, and Inspiration Healthcare Group PLC.
Market Segmentation:
By Types
By Geography
Companies Profiled
The neonatal critical care equipment market is projected to reach USD 1.2 billion by 2026.
The major factors that are anticipated to drive the neonatal critical care equipment industry include strong focus of player on the development of highly advanced neonatal equipment, increasing importance of incubators in neonatal care units, and increasing number of preterm births.
Cardinal Health, Inc., General Electric (GE) Co. (GE Healthcare), Medtronic PLC, Ambu A/S, Becton, Dickinson and Company, Koninklijke Philips N.V., Dragerwerk AG & Co. KGaA, Utah Medical Products, Inc., Natus Medical Incorporated, and Inspiration Healthcare Group PLC.
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