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Fetal And Neonatal Care Equipment Global market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The fetal and neonatal care equipment market size is expected to see strong growth in the next few years. It will grow to $11.14 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%” - The Business Research Company
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Recent trends suggest a surge in the demand for fetal and neonatal care equipment market. The growth from the market size of $7.78 billion in 2023 to an estimated $8.35 billion in 2024, indicates a promising compound annual growth rate CAGR of 7.3%. This perceived growth can be largely credited to increased instances of preterm births, rising awareness around maternal health, significant improvements in the healthcare infrastructure, disposable income increases, government initiatives, and a growing incidence of health complications.
What Influence Could The Market Size Have On Future Predictions?
Given the strong growth over recent years, the fetal and neonatal care equipment market size is expected to see a robust surge in the near future, growing to an impressive $11.14 billion by 2028 at a compound annual growth rate CAGR of 7.5%. The factors that are expected to drive this growth in the forecast period include the expansion of telemedicine, an increasing focus on preventive healthcare, the rise of personalized medicine, growth in emerging markets, enhanced data analytics, and a rise in investment in research and development.
Explore a comprehensive overview of the Fetal And Neonatal Care Equipment Market with a detailed Sample Report:
How Are The Rising Prevalence Of Premature Births Expected to Impact The Fetal And Neonatal Care Equipment Market?
Premature birth, defined as the birth of a baby before the completion of 37 weeks of gestation, is a major contributing factor to the rising demand for fetal and neonatal care equipment. The growing incidence of premature births is widely attributed to advanced maternal age and higher associated risks of complications. Additionally, chronic health issues in mothers, such as diabetes, hypertension, obesity, and infections, contribute to preterm labor and delivery. As such, there is a growing need for fetal and neonatal care equipment to improve health outcomes for premature births whilst also providing healthcare professionals with the means to monitor vital signs, administer required treatments, and ensure the safety and well-being of newborns in intensive care. Therefore, it can be surmised that the growing incidence of premature births will drive future growth in the fetal and neonatal care equipment market.
Dive into our comprehensive Fetal And Neonatal Care Equipment Global Market Report:
Who Are The Major Players in The Fetal And Neonatal Care Equipment Market?
Noteworthy companies operating in the fetal and neonatal care equipment market include Cardinal Health, Medtronic PLC, Becton Dickinson and Company, Koninklijke Philips N.V., Stryker Corporation, GE Healthcare, B. Braun Melsungen AG, Olympus Corporation, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Drägerwerk AG And Co KGaA, ResMed Inc., Canon Medical Systems Corporation, Masimo Corporation, Nihon Kohden Corporation, Fisher And Paykel Healthcare Limited, C.R. Bard Inc., Contec Medical Systems Co. Ltd., Natus Medical Incorporated, Vyaire Medical Inc, Atom Medical Corporation, Amico Corporation, Mennen Medical Ltd, Phoenix Medical Systems Pvt Ltd, Utah Medical Products Inc, CareFusion Corporation.
What Emerging Trends Are Shaping The Fetal And Neonatal Care Equipment Market?
Major companies are focusing on developing innovative, technologically advanced solutions such as the wireless maternal and fetal monitoring solution. This noninvasive solution monitors and displays fetal heart rate, maternal heart rate, and uterine activity. For instance, in February 2024, GE HealthCare Technologies Inc., a US-based medical technology company, received 510k clearance from the US Food and Drug Administration FDA for their Novii+ Wireless Patch Solution designed to monitor maternal and fetal health from 34 weeks of gestation.
How Is The Fetal And Neonatal Care Equipment Market Segmented?
The fetal and neonatal care equipment market is divided by:
1 Type: Fetal Care Equipment
Neonatal Care Equipment
2 Portability: Portable Devices
Non-Portable Devices
3 End-User: Hospitals
Diagnostic Centers
Clinics
Other End-Users
Which Regions Dominate The Fetal And Neonatal Care Equipment Market?
In 2023, North America was the largest player in the fetal and neonatal care equipment market, while Asia-Pacific is projected to be the fastest-growing region during the forecast period. The report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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