Global Neonatal Equipment Market: Overview
Neonatal equipment comprises a wide range of medical systems used especially to monitor newborn babies. Neonatal equipment is vital in ensuring the health of the baby, as newborns are susceptible to even relatively minor pathogens and need constant care. The importance of neonatal equipment is illustrated by the fact that around 40% of total child deaths across the world happen in the neonatal stage. Complications in premature births and asphyxia are the key concerns addressed by neonatal equipment.
The report presents a detailed review of the historical growth trajectory exhibited by the global neonatal equipment market. Furthermore, the latest figures of the neonatal equipment market are assessed in the report, and provide a solid basis for reliable forecasts regarding the market’s growth trajectory in the coming years. The segmentation and hierarchy of the global neonatal equipment market is examined in the report by various criteria, which helps provide readers with a clear picture of the influential dynamics in the market.
The report examines the various product segments of the global neonatal equipment market in order to provide a granular view of the market’s performance. The neonatal equipment market is divided into monitoring devices, thermal control equipment, life saving equipment, and therapy equipment. Of these, the monitoring devices segment is sub-segmented into pulse oximeters, bilirubinometers, and apnea monitors. Key sub-segments of the thermal control equipment market are incubators, radiant warmers, and transport incubators, while the life saving equipment segment comprises ventilators, concentrators, and CPAP machines.
Global Neonatal Equipment Market: Trends and Opportunities
The prime driver for the global neonatal equipment market is the rising awareness about the importance of neonatal care in ensuring the health of newborns. Due to this, governments in many developing countries are proactively supporting the adoption of advanced neonatal equipment. This is likely to remain a key driver for the global neonatal equipment market in the coming years.
The steady technological innovation in medical devices has also been a key driver for the neonatal equipment market in the recent past. The progressive improvements brought about in the design of neonatal equipment have served to boost patient confidence, which has helped achieve widespread adoption. The rising investment in the healthcare sector is likely to make this a key driver for the global neonatal equipment market in the coming years.
Global Neonatal Equipment Market: Geographical and Competitive Dynamics
Regionally, North America is the leading contributor to the global neonatal equipment market. This is primarily due to the widespread availability of advanced healthcare technologies in North America and the steady government support for the same, which has facilitated easy incorporation of advances in neonatal equipment.
Despite North America’s sustained dominance in the global neonatal equipment market, Asia Pacific is likely to emerge as a key regional market in the coming years. Governments in several Asia Pacific countries have adopted a proactive stance in terms of enhancing the healthcare sector in the respective country, which is likely to remain a key driver for the Asia Pacific neonatal equipment market in the coming years.
Some of the leading players in the global neonatal equipment market are GE Healthcare, Medtronic plc, and Philips Healthcare. While the market is dominated by multinational players with a diverse product catalog and widespread regional reach, smaller players also have significant resources in terms of specific technologies or devices and thus perform a key role in the global neonatal equipment market.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.