The global neonatal care device market is evaluated at US$8.849 billion for the year 2019 growing at a CAGR of 6.08% reaching the market size of US$13.378 billion by the year 2026.
Neonatal care is a subspecialty of healthcare that involves nursing babies born either prematurely, or with problems like low weight, birth defects, infection, cardiac malformations, or other surgical problems that require specialized treatment. There are four levels of neonatal care, intensive care, high dependency care, low dependency care, and transitional care. North America held a significant share of the market which is attributed to high equipment demand and an increasing number of FDA approvals for neonatal care devices. Emerging economies of the Asia Pacific region are expected to significantly influence demand for these devices in the years ahead, owing to growing awareness and a high birth rate. Rising health spending and favorable reimbursement policies in developed nations are expected to drive growth in the neonatal care devices market
The market has been significantly driven by the increasing health expenditures done by several governments to enhance the technological advancements in the sector. Several governments are making up different regulations to reduce the preterm birth rate.
The advent of COVID-19 triggered the declining trend in the neonatal market. This is due to the significant decline in the number of preterm births during the year.
|Market size value in 2019||US$8.849 billion|
|Market size value in 2026||US$13.378 billion|
|Growth Rate||CAGR of 6.08% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Drägerwerk AG, Medtronic PLC, GE Healthcare, Koninklijke Philips N.V., Masimo, Natus Medical Incorporated, Phoenix Medical Systems (P) Ltd, Vyaire Medical, Atom Medical Corporation, Getinge AB|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the neonatal care device market size by 2026?
A1. The global neonatal care device market is projected to reach a total market size of US$13.378 billion in 2026.
Q2. What are the growth prospects for neonatal care device market?
A2. The neonatal care device market is projected to grow at a CAGR of 6.08% over the forecast period.
Q3. What is the size of global neonatal care device market?
A3. Neonatal Care Device Market was valued at US$8.849 billion in 2019.
Q4. What factors are anticipated to drive neonatal care device market growth?
A4. Rising health spending and favorable reimbursement policies in developed nations are expected to drive growth in the neonatal care devices market.
Q5. Which region holds the largest market share in the neonatal care device market?
A5. North America holds a significant share of the market which is attributed to high equipment demand and an increasing number of FDA approvals for neonatal care devices.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Neonatal Care Device Market Analysis, by Type
5.2. Medical Light
5.3. Infant Warmer
5.5. Phototherapy Equipment
5.6. Respiratory Device
5.7. Neonatal Monitoring Device
6. Neonatal Care Device Market Analysis, by Geography
6.2. North America
6.3. South America
6.5. Middle East and Africa
6.5.1. Saudi Arabia
6.6. Asia Pacific
6.6.4. South Korea
7. Competitive Environment and Analysis
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. Company Profiles
8.1. Drägerwerk AG
8.2. Medtronic PLC
8.3. GE Healthcare
8.4. Koninklijke Philips N.V.
8.6. Natus Medical Incorporated
8.7. Phoenix Medical Systems (P) Ltd
8.8. Vyaire Medical
8.9. Atom Medical Corporation
8.10. Getinge AB
Koninklijke Philips N.V.
Natus Medical Incorporated
Phoenix Medical Systems (P) Ltd
Atom Medical Corporation
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