Safety heelstick is a consistent, safe, and precise heel incision device specifically designed for infants. The heel incision device provides a safe and effective means for obtaining blood samples from the heels of newborns. Heel incision device / safety heelstick device is used by neonatal caregivers to collect blood samples from infants. Rapidly growing world population coupled with increasing cases of premature birth are the primary drivers of the market. According to the World Health Organization, an estimated 15 million babies are born premature (before 37 completed weeks of gestation), and premature birth complications are among the most common causes of death among children under five years of age.
According to the study by World Health Organization, across 184 countries, the rate of premature birth ranges from 5% to 18% of babies born. Improvements in equipment, which are now highly efficient and accurate, is another factor expected to drive the demand during the forecast period. Additionally, the launch of multi-specialty products and rising awareness pertaining to the availability of infants care products is expected to further boost the demand over the course of the next few years. Moreover, improving healthcare infrastructure in emerging economies is another factor positively influencing the market.
The heel incision devices / safety heelstick devices market is segmented in terms of device type, end user, and geography. Based on device type, the market is segmented into heel stick device and safety lancet. Based on end user, the market is segmented into hospitals, childcare clinics, and others.
Based on geography, the global heel incision devices / safety heelstick device market is segmented into five regions, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2016. Rise in incidence of preterm births and low birth weight in the region is expected to drive the growth of the heel incision devices / safety heelstick device market in the region. According to the Centers for Disease Control and Prevention, the number of preterm births and babies with low birth weight increased in 2016 over that in the previous year. According to the National Center for Health Statistics (NCHS) report, the rate of preterm births was 9.84% in 2016 and low birth weight rate was 8.16% which is anticipated to increase in the next few years, making the U.S. one of the countries with the highest infant mortality rate. Europe is expected to be the second largest region in terms of revenue, and growth in the region can be attributed to increase in number of multiple pregnancies with premature birth. According to Die Gesundheit von Kindern und Jugendlichen in Deutschland (KiGGS), in 2015, 57.4?% of multiple pregnancies resulted in preterm delivery in Germany and other European countries, which is anticipated to propel growth of the Europe market. Asia Pacific is expected to register high growth during the forecast period due to development of health care infrastructure, high disposable income, rise in health and hygiene related awareness, large untapped market base, and economic development.
Some of the key players operating in the global heel incision devices / safety heelstick device market include Cardinal Health, Clinical Innovations, DeviceLab Inc., MediPurpose, MediCore and others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players 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.