Neonatal Intensive Care Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of Neonatal Intensive Care Market by product type (infant warmers, neonatal monitoring devices, incubators, respiratory, convertible, catheters, phototherapy equipment), end users (childcare clinics, hospitals) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the Neonatal Intensive Care Market it includes the five years Industry analysis and the 6 years annual forecast from 2018 to 2024. Some of the prominent participants in the Global Neonatal Intensive Care Market are Medtronic plc, C. R. Bard, Inc., Becton, Dickinson and Company, Cook Medical, Teleflex Incorporated, B. Braun Melsungen AG, GE Healthcare. According to report the global neonatal intensive care market was USD 5.3 billion in 2016 and it is projected to reach USD 9.5 billion, growing at a CAGR of 5.33% over the forecast period of 2018-2024.
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The advanced technology and skilled health care professionals that helps to provide more attention to newborn babies that are admitted into the special division of the hospital/clinic. The neonatal babies that are admitted into this special division (NICU) are premature; these premature babies have low weight or need more medical special care. NICU are also used for the newborn babies with medical disorders such as infections, heart problems, or birth defects. The report defines neonatal intensive care market as a product type such as into infant warmers, neonatal monitoring devices, incubators, respiratory devices, convertible warmer & incubators, catheters, phototherapy equipment are used by different end users such as childcare clinics, hospitals and others. Respiratory devices are measured to form a largest share of special care devices in a neonatal intensive care unit.
Growing Awareness Levels about Accessible Prenatal and Neonatal Intensive Care Equipment and High Birth Rate in Developing Regions are driving the Growth of this Market
According to the WHO data states those 2.7 million stillbirths and 3.1 million neonatal deaths occur worldwide every year. This has led to increased demand for neonatal intensive care centers. In additions, neonatal hospital-acquired infections such as Central Line-Associated Bloodstream Infections (CLABSI) and healthcare-associated infections are some factors that are driving the growth of the market. Moreover, significances of supportive government policies and rapid technological advancements in neonatal intensive care is expected to boost the growth of the market. On the other hand expenses related with preterm birth is very high due to need for technologically advanced medical equipment such as ventilators, radiant warmers, and incubators for neonatal intensive care units (NICUs) sustains a higher spending, thus increasing to the total medical charge. Furthermore, lack of proper diagnosis and declining birth rate in certain developed countries are some factors that are restraining the growth of the market.
North America is expected to be the Largest Market for Neonatal Intensive Care Followed by Europe
The increasing awareness for baby care and demand for technologically advanced products in North America are contributing the growth of this region. According to World Health Organization (WHO) report, in 2016 the count of premature births in U.S. was 517,400.While Asia-Pacific is the fastest growing region due to increasing awareness and government support in developing countries China and India is augment the growth of the market in this region. Moreover, Cook Medical, Medtronic plc and Becton, Dickinson and Company are the top three leading player of the market. The leading players are entering into mergers and acquisitions and joint ventures, with local and regional suppliers to revenue and development activities in order to introduce new products and expand worldwide.
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The report on global neonatal intensive care market covers segments such as, product type and end users. Based on product type the global neonatal intensive care market is categorized into infant warmers, neonatal monitoring devices, incubators, respiratory devices, convertible warmer & incubators, catheters, phototherapy equipment and others. Electric Infant Warmers and Non-Electric Infant Warmers are two different type of infant warmers included in the report. The neonatal monitoring devicesis further classified into blood pressure monitor, pulse oximeter, cardiopulmonary monitor, capnographs, and others. Neonatal ventilators, transcutaneous oxygen/carbon dioxide monitor, resuscitators, and others are included in respiratory devices segment. Based on end users the global neonatal intensive care market is categorized into childcare clinics, hospitals and others.
Major Key Players Mentioned in this Premium Report
The report provides profiles of the companies in the global neonatal intensive care market such as, Medtronic plc, C. R. Bard, Inc., Becton, Dickinson and Company, Cook Medical, Teleflex Incorporated, B. Braun Melsungen AG, GE Healthcare and Others.