The study methodologies used to examine Fetal (Labor & Delivery) and Neonatal Care Market for the forecast period, 2020 - 2027 further classifies the industry by type, geography, end-use and end-user to add more precision and bring to light factors responsible for augmenting business development.
New York, NY -- (SBWIRE) -- 11/26/2020 -- Fetal (Labor & Delivery) And Neonatal Care Market: An Overview
According to the recent analysis of Reports and Data, the global Fetal (Labor & Delivery) and Neonatal Care Market was valued at USD 6.74 billion in 2019 and is expected to reach USD 10.33 billion by the year 2027, at a CAGR of 5.5%. Maternity care and infant safety are top healthcare priorities all over the world. With technological and infrastructural advancements in healthcare sector across the globe, the market for fetal and neonatal care is growing. The efficacy of neonatal products and services is a crucial for the safety during childbirth. According to WHO, globally every year more than one out of seven births which adds up to 20 million infants born worldwide with low birthweight.
With rising government investment in healthcare, mounting consolidation among healthcare providers, and resource sharing, quality healthcare services for fetal (labor & delivery) and neonatal care is becoming more possible. The rise in the demand for medical diagnosis, especially in the first trimester of pregnancy, is contributing towards the advancement of ultrasound procedures and fetal magnetic resonance imaging (MRI) tests for assessment of the condition of the fetus. The market has recorded greater potential for the neonatal products that enables faster decision making and assists in delivering enhanced patient care in Neonatal Intensive Care Unit and emergency departments.
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Some of the prominent players in the Fetal (Labor & Delivery) and Neonatal care equipment are GE Healthcare (U.K.), Philips Healthcare (Netherlands), Drägerwerk AG & Co. KGaA (Germany), Medtronic plc (Ireland), and Masimo Corporation (U.S.).
Fetal (Labor & Delivery) And Neonatal Care Market Dynamics
Proper neonatal care is of utmost significance to overcome the risk of hospital acquired infections. Maternal and infant care receives financial support from non-profit organizations such as the UNICEF (United Nations International Children Emergency Funds) and the United Nations Foundation. According to the UNICEF and the World Health Organization (WHO), nearly 30 million sick and premature newborns need specialized care to survive.
Mortality rates related to childbirth related complications remains a huge challenge in healthcare sector across developed as well as developing nations. As a result, efficient fetal and neonatal healthcare plan is in much demand in the hospitals and clinics. Consequently, several public and non-profit organizations are working on development of healthcare infrastructure and increase in awareness about neonatal care. For instance, in 2019, International Global Health Initiative launched its Nest360° program that is designed to facilitate the development of new technology, infrastructure and training to reduce rate of new-born deaths.
Factors such as the growing number of NICU and increasing awareness about fetal and neonatal care in developing regions is expected to increase the growth of fetal and neonatal equipment market over the period of forecast. NICUs are to be well equipped with advanced technology and trained healthcare professionals. Consequently, leading fetal (labor & delivery) and neonatal care market players are employing innovative efforts on providing products and services that will streamline rapid diagnostics, enhance medical imaging quality, and increased safety, efficacy and reliability for neonatal and maternal care.
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Fetal (Labor & Delivery) And Neonatal Care Market: Segmentation
For the purpose of this report, Reports and Data has segmented the Neonatal and Fetal (Labor & Delivery) Care Market on the basis of product, end use, and region:
Product Type (Revenue, USD Million; 2017–2027)
- Neonatal Care Equipments
– Respiratory Devices
– Phototherapy Devices
– Infant Warmer
- Fetal Care Equipments
– Fetal Doppler
– Fetal MRI System
– Fetal Monitor
– Fetal Pulse Oximeter
– Ultrasound Device
End Use (Revenue, USD Million; 2017–2027)
Regional Outlook (Revenue in USD Million; 2017–2027)
Middle East and Africa (MEA)
Fetal (Labor & Delivery) And Neonatal Care Market: Regional Outlook
Rising investments for healthcare infrastructure development in emerging nations, supports the adoption of pediatric healthcare equipment in hospitals and clinics. The focus is on providing better and effective healthcare facilities to mothers and child. Additionally, rising awareness programs for the improvement of fetal care & neonatal care is among a key factor propelling the fetal (labor & delivery) and neonatal care market in developing nations.
North America held the largest regional market share for the global fetal (labor & delivery) and neonatal care market at almost 41.1% and expected to witness an elevated growth in upcoming years, due to the increased number of lifestyle related pregnancy complications in the region and a surge in the number of preterm births.
Asia Pacific is likely to have a lucrative market for fetal and neonatal care during 2020-2027, on account of the rising birthrate, growing awareness about the advanced medical facilities among patients & clinicians, and launch of advanced products & services for neonatal & fetal care in the region. However, the developing countries often face critical inaccessibility to healthcare equipment which would in turn out to be a major obstacle for the growth of this business in these countries.
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Impact of COVID-19 on Fetal (Labor & Delivery) And Neonatal Care Market:
In December 2019, the novel coronavirus disease (COVID-19) emerged in Wuhan and with an incredible rate of contagion, reached all over the world, causing more than 2 million confirmed cases by mid-April, 2020. The vertical transmission of COVID-19 is still uncertain. Currently, evidence shows that pregnant women who contract COVID-19 disease are not at a higher risk of serious complications when compared to healthy non-pregnant women. But, studies and national reports show that maternal comorbidities are increasing and that a substantial population of pregnant women will be at increased risk of contracting COVID-19 and suffering from its complications. At the moment it is believed that COVID-19 does not cause any problems with fetal development but may increase the risk of preterm delivery increasing the demand witnessed in fetal (labor & delivery) and neonatal care market. A rapid review of 23 studies assessing effects of COVID-19 in pregnancy, reported preterm delivery rate of 47%. Given the projected increase in the cases of COVID-19 in the coming months, it is reasonable to assume that preterm deliveries will also increase necessitating increased facilities for fetal and neonatal care.
Detailed overview of the market
Evolving fetal (labor & delivery) and neonatal care market dynamics
In-depth fetal (labor & delivery) and neonatal care market classification
Historical, present, and anticipated fetal (labor & delivery) and neonatal care market size and share in terms of volume and value
Recent fetal (labor & delivery) and neonatal care market trends and advances
Strategies adopted by key players and products portfolio
Segments, sub-segments, and geographic regions exhibiting growth prospects
A neutral and global perspective on fetal (labor & delivery) and neonatal care market performance
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