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Global Neonatal Intensive Care Market Size was valued at USD 9.7 Billion in 2022. The Neonatal Intensive Care Market industry is projected to grow from USD 10.6 Billion in 2023 to USD 15.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.89% during the forecast period (2023 - 2032). Increasing preterm births, technological advancements, growing investments in healthcare infrastructure, rising awareness and initiatives, increasing healthcare expenditure, rising incidence of neonatal diseases and disorders, favorable reimbursement policies, research and development activities, are the key market drivers enhancing the market growth.
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Because of the rising expense of healthcare, the market for neonatal intensive care is expanding significantly. As more countries invest more money in healthcare, particularly in developing countries, neonatal care facilities can now be expanded and improved. As a result, there is a greater need for goods and services connected to neonatal intensive care. A rise in healthcare funding has made it possible to build neonatal intensive care units (NICUs) with modern amenities and additional beds. These facilities require large infrastructure, medical equipment, and staffing investments. When there are more NICU beds available, a greater number of neonates in need of intensive care can be admitted and treated. This growth is a response to the growing need for neonatal intensive care services, particularly in regions with a higher incidence of preterm births and neonatal diseases.
It is also simpler to acquire and deploy cutting-edge medical technologies for neonatal care as a result of higher healthcare spending. Technological advancements have greatly increased the efficiency and calibre of care provided in NICUs. Neonatal patients who are preterm or seriously ill can receive specialist and accurate care because to the use of modern technologies, such as sophisticated monitoring systems, ventilators, incubators, and phototherapy devices. The monitoring of vital signs, support for the respiratory system, regulation of body temperature, and treatment of conditions including sepsis, jaundice, and respiratory distress syndrome are all made possible by these technologies. The availability of such cutting-edge technologies, which improve newborns' chances of survival and long-term health outcomes, increases the need for neonatal intensive care services. Additionally, by sponsoring their education and training, qualified neonatologists are kept and drawn in by increased healthcare spending. A staff that has undergone the required training is essential to providing neonates with the finest care possible. Specialised knowledge and expertise are needed for neonatal care. Competent pay, training opportunities, and ongoing professional growth attract and keep competent neonatologists, neonatal nurses, and other healthcare professionals. The general health and wellbeing of a newborn depends on getting high-quality care, which can only be provided by competent staff in NICUs. Therefore, increasing healthcare spending contributes to the development of a knowledgeable and well-resourced neonatal staff, which in turn drives the growth of the neonatal intensive care sector. Thus, driving the Neonatal Intensive Care Market revenue.
The global Neonatal Intensive Care Market segmentation, based on Product includes Warmers and Incubators. The Incubators dominated the market in 2022. Neonatal admissions from healthcare settings have increased dramatically, and major market players are increasingly developing greatly improved neonatal indicators.
The global Neonatal Intensive Care Market segmentation, based on type, includes Monitoring Devices, Respiratory Devices, Phototherapy Equipment, and Others. The Respiratory Devices generated the most income in 2022. due to the sudden increase of respiratory disorders that require NICU stays and the continually increasing number of new and innovative product launches.
The global Neonatal Intensive Care Market segmentation, based on Application includes Neonatal Hypothermia & Low Birth Weight, Jaundice, and Others. The Neonatal Hypothermia & Low Birth Weight dominated the market in 2022. The increasing prevalence of neonatal hypothermia and increased preterm birth rates are the main factors accelerating its growth.
The global Neonatal Intensive Care Market segmentation, based on End User includes Hospitals, Maternity Hospitals, and Neonatal & Pediatric Hospital. The Hospitals dominated the market in 2022. The segment market's growth can be attributed to the easy availability of state-of-the-art neonatal equipment and increased government initiatives to enhance the healthcare sector, notably on the infrastructure of hospitals.
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By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia-Pacific Neonatal Intensive Care Market dominated this market in 2022 (45.80%). The APAC region has a huge population, and birth rates are increasing with an increase in preterm births. Moreover, China’s Neonatal Intensive Care Market held the largest market share, and the Indian Neonatal Intensive Care Market was the fastest growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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The North America Neonatal Intensive Care Market is expected to grow at the fastest CAGR from 2023 to 2032. North America has a relatively high preterm birth rate in comparison to other regions. Preterm babies, which demand specialised care in neonatal intensive care units (NICUs), generate the demand for neonatal intensive care services and products. Further, the U.S. Neonatal Intensive Care Market held the largest market share, and the Canada Neonatal Intensive Care Market was the fastest growing market in the North America region.
Europe Neonatal Intensive Care Market accounts for the Third-largest market share. In Europe, the prevalence of preterm delivery has risen over time. Due to variables like older mothers, multiple pregnancies, and lifestyle changes, preterm birth rates have increased. Further, the German Neonatal Intensive Care Market held the largest market share, and the UK Neonatal Intensive Care Market was the fastest growing market in the European region
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Neonatal Intensive Care Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Neonatal Intensive Care industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Neonatal Intensive Care industry to benefit clients and increase the market sector. In recent years, the Neonatal Intensive Care industry has offered some of the most significant advantages to medicine. Major players in the Neonatal Intensive Care Market, including Medicor Elektronika, Ningbo David Medical Device Co., Ltd., Zhengzhou Dison Instrument And Meter Co., Ltd, Drägerwerk AG & Co. KGaA, Terumo Corporation, 3M Company, Phoenix Medical Systems Pvt Ltd., Koninklijke Philips N.V, Fanem Medical Devices, Mediprema Group, Siemens Healthcare GmbH, AngioDynamics, GE Company, Vygon (UK) Ltd, Masimo Corporation, Medtronic PLC, Atom Medica, and others, are attempting to increase market demand by investing in research and development operations.
The 3M Company is a producer and distributor of industrial products and services. Advanced materials, display materials and systems, office supplies, home care, home improvement, roofing granules, closure and masking systems, and other products are also part of the company's product portfolio. Aside from that, 3M offers a variety of services, such as health information systems, consumer health, medical, and dental care. It serves clients from a range of industries, including consumer products, automotive, electronics, healthcare, safety, and energy. The company has manufacturing and conversion facilities throughout the Americas, Europe, the Middle East, Africa, and Asia Pacific. 3M is based in the American city of St. Paul, Minnesota.
Manufacturer and distributor of diagnostic imaging equipment, clinical and workflow systems and solutions, and systems for minimally invasive procedures, Siemens Healthineers AG (Siemens Healthineers) is a branch of Siemens AG. Mobile C-arms, hybrid operating rooms, angiography systems, ultrasound systems, computed tomography systems, magnetic resonance imaging systems, testing systems, and point-of-care (POC) testing systems are a few of the company's important products. It also offers commercial and digital services. Among the healthcare providers Siemens Healthineers serves are doctors, public health groups, universities, state-run and private health insurance, pharmaceutical companies, and clinical research organisations. The company has activities in the Americas, the Middle East, Africa, Asia-Pacific, and Europe. Siemens Healthineers is headquartered in Erlangen, Germany.
· Medicor Elektronika
· Ningbo David Medical Device Co., Ltd.
· Zhengzhou Dison Instrument And Meter Co. , Ltd
· Drägerwerk AG & Co. KGaA
· Terumo Corporation
· 3M Company
· Phoenix Medical Systems Pvt Ltd
· Koninklijke Philips N.V
· Fanem Medical Devices
· Mediprema Group
· Siemens Healthcare GmbH
· AngioDynamics
· GE Company
· Vygon (UK) Ltd
· Masimo Corporation
· Medtronic PLC
· Atom Medica
In June 2022: For its 2022 Global New Product Innovation Leadership Award in the fields of neonatal and respiratory care, Frost & Sullivan selected Drager.
In May 2022: Recently, Pinnacle Industries, an Indian producer of automobile upholstery, interiors and speciality vehicles, introduced their newest line of certified neonatal ambulances. These ambulances are equipped with the necessary medical gear and cutting-edge technology to give infants the best possible treatment.
· Warmers
· Incubators
· Monitoring Devices
· Respiratory Devices
· Phototherapy Equipment
· Others
· Neonatal Hypothermia & Low Birth Weight
· Jaundice
· Others
· Hospitals
· Maternity Hospitals
· Neonatal & Pediatric Hospital
· North America
- U.S.
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 9.7 Billion |
|
Market Size 2023 |
USD 10.6 Billion |
|
Market Size 2032 |
USD 15.1 Billion |
|
Compound Annual Growth Rate (CAGR) |
4.89% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Product, Type, Application, End User and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Medicor Elektronika, Ningbo David Medical Device Co., Ltd., Zhengzhou Dison Instrument And Meter Co., Ltd, Drägerwerk AG & Co. KGaA, Terumo Corporation, 3M Company, Phoenix Medical Systems Pvt Ltd., Koninklijke Philips N.V, Fanem Medical Devices, Mediprema Group, Siemens Healthcare GmbH, AngioDynamics, GE Company, Vygon (UK) Ltd, Masimo Corporation, Medtronic PLC, Atom Medica, |
|
Key Market Opportunities |
Expanding consumer demand for pharmacy automation products |
|
Key Market Dynamics |
An increase in knowledge about pharmaceutical automation |
The global Neonatal Intensive Care market was valued at USD 9.7 billion in 2022, and it is estimated to reach USD 15.1 billion by 2032.
The global market is projected to grow at a CAGR of 4.89% during the forecast period, 2023-2032.
Asia-Pacific had the largest share in the global market
The key players in the market are Medicor Elektronika, Ningbo David Medical Device Co., Ltd., Zhengzhou Dison Instrument And Meter Co., Ltd, Drägerwerk AG & Co. KGaA, Terumo Corporation, 3M Company, Phoenix Medical Systems Pvt Ltd., Koninklijke Philips N.V, Fanem Medical Devices, Mediprema Group, Siemens Healthcare GmbH, AngioDynamics, GE Company, Vygon (UK) Ltd, Masimo Corporation, Medtronic PLC, and Atom Medica.
The Incubators category dominated the market in 2022.
The Neonatal Hypothermia & Low Birth Weight had the largest share in the global market.
Report Code :
RL6549
Published on :
Aug 2023
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