Harrisburg, NC -- (SBWIRE) -- 10/20/2020 -- The Fetal And Neonatal Monitoring Devices Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
The global fetal and neonatal monitoring devices market was valued at about $9.9 billion in 2018 and is expected to grow to $12.17 billion at a CAGR of 5.3% through 2022.
The fetal and neonatal monitoring devices and equipment market consists of sales of fetal and neonatal monitoring devices and equipment and related services. Fetal and neonatal monitoring devices and equipment are used to assess fetal heart rate and contractions of the uterus during pregnancy and childbirth. Ultrasound Dopplers and internal fetal monitors are widely-used fetal and neonatal monitors.
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Fetal And Neonatal Monitoring Devices Market: GE Healthcare, Fisher & Paykel Healthcare Limited, Philips Healthcare, Atom Medical Corporation and Natus Medical Incorporated.
Key Market Trends
North America was the largest region in the fetal and neonatal monitoring devices market in 2018. The fetal and neonatal monitoring devices market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023.
The increasing prevalence of preterm births and low body weight of infants acts as factor driving the fetal and neonatal monitoring devices market growth. Preterm birth refers to premature birth of a child before 37 weeks gestation period, which leads to poor health and growth, mental retardation, visual and hearing impairments, cerebral palsy and others. According to World Health Organization (WHO), around 5.6 million children aging less than 5 years died in 2016 and preterm birth was found to be one of the top reasons for the deaths. According to a 2018 report by WHO, nearly 15 million babies are born preterm every year and this number is expected to have a continuous rise in the near future. The increasing prevalence and need to reduce the infant mortality rates with improving healthcare conditions, drives the fetal and neonatal monitoring devices market. For instance, according to 2016 annual report of the National Center for Health Statistics, the preterm birth rates in the USA rose from 9.63% in 2015 to 9.84% in 2016. Furthermore, the low birth weight rate increased to 8.16% in 2016 from 8.07% in 2015.
The fetal and neonatal monitoring device market is restricted by stringent regulatory policies governing this market. The fetal and neonatal device manufacturers need to pass through several tests and requirements laid down by different regulatory bodies. Regulations like FDA's Center for Devices and Radiological Health (CDRH), NMPA regulations, EU directives lay down some stringent regulations for these equipment. The changes related to customer data protection such as the European Union's General Data Protection Regulation (GDPR), changes to equipment approval procedures and other regulatory changes lead to increased healthcare costs. For instance, according to a report by Ernst and Young in 2018, Fortune 500 companies are spending $7.8 billion to comply with GDPR regulations. The GDPR regulation is an EU law on data protection and privacy of individuals residing the European Union and the European Economic Area (EEA). Furthermore, the FDA is requesting more clinical data to support claims resulting in increased processing times of 510(k)s by over 55% over the last decade, thus delay the operating cycle of manufacturers in this market.
Fetal and neonatal monitoring device manufacturers are increasingly innovating and integrating technologies such as wireless technology with patient monitoring devices to efficiently diagnose and monitor fetus and newborns. Wireless sensor technology such as biosensor monitoring devices, wireless fetal heart rate monitoring devices are multi sensor systems implanted or embedded into the skin, consisting of a sensor that transmits data for real time monitoring of patient's medical condition. For instance, the National Institute of Neurological Disorders and Stroke developed SARA, a scanning device that can detect fetal brain activity with the help of flashes of light transmitted through the mother's abdomen. In 2018, Philips developed a new cordless fetal monitoring device that helps in ensuring the safety of the mother as well as the child without any inconvenience and risk. These technological innovations eliminate poor reception of observation and help caregivers in monitoring more efficiently.
In June 2018, Hong Kong's Department of Health, a regulatory body for fetal and neonatal monitoring devices of Hong Kong, sent a medical device safety alert to Guangzhou Sunray Medical Apparatus Co., Ltd, a medical device manufacturer, concerning its maternal and fetal monitor. The safety alert was sent as the Guangzhou Sunray maternal and fetal monitor was delivering inaccurate ultrasound-derived fetal heart rate recordings due to software-related issue. These devices impacted patients health with delayed intervention resulting in severe injury or death to the fetus. To reduce incidences associated with these devices MRHA sent a medical device safety alert to correct the device.
Similarly, in March 2019, Philips Medical Systems, a medical device manufacturer, was sent a medical device safety alert on Philips Fetal Spiral Electrode (FSE) to define its usage instructions due to an increase cases of tip breakage of the spiral electrode. The safety alert was sent as it is possible for the metal electrode tip to break off and remain in the scalp of the newborn following labor and delivery.
Markets Covered:
1) By Equipment: Fetal, Neonatal
2) By End User: Hospitals, Diagnostic centers, Pediatric Clinics, Ambulatory Surgical Centers
3) By Portability: Portable, Non Portable
4) By Fetal Care Equipment Type: Ultrasound Devices, Fetal Dopplers, Fetal MRI Systems, Fetal Monitors, Fetal Pulse Oximeters
5) By Neonatal Care Equipment Type: Infant Warmers, Incubators, Convertible Warmers & Incubators, Phototherapy Equipment, Respiratory Devices, Neonatal Monitoring Devices, Diagnostic Imaging Devices
Influence Of The Fetal And Neonatal Monitoring Devices Market Report:
-Comprehensive assessment of all opportunities and risk in the Fetal And Neonatal Monitoring Devices market.
- Fetal And Neonatal Monitoring Devices market recent innovations and major events.
-Detailed study of business strategies for growth of the Fetal And Neonatal Monitoring Devices market-leading players.
-Conclusive study about the growth plot of Fetal And Neonatal Monitoring Devices market for forthcoming years.
-In-depth understanding of Fetal And Neonatal Monitoring Devices market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Fetal And Neonatal Monitoring Devices market.
The report has 150 tables and figures browse the report description and TOC:
https://www.marketinsightsreports.com/reports/12031615746/fetal-and-neonatal-monitoring-devices-global-market-report-2020-including-1-by-equipment-fetal-neonatal-2-by-end-user-hospitals-diagnostic-centers-pediatric-clinics-ambulatory-surgical-centers-3-by-portability-portable-non-portable-4-by-fetal-care-equipment-type-ultrasound-devices-fetal-dopplers-fetal-mri-systems-fetal-monitors-fetal-pulse-oximeters-5-by-neonatal-care-equipment-type-infant-warmers-incubators-convertible-warmers-incubators-phototherapy-equipment-respiratory-devices-neonatal-monitoring-devices-diagnostic-imaging-devices-covering-ge-healthcare-fisher-paykel-healthcare-limited-philips-healthcare-atom-medical-corporation-natus-medical-incorporated?source=releasewire&Mode=12
What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Global Fetal And Neonatal Monitoring Devices Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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