Global Neonatal Monitoring Devices Market, By Product (Blood Pressure Monitors, Cardiac Monitors, Pulse Oximeters, Capnographs, Integrated Monitoring Devices), End Use (Hospitals, Diagnostic Centers, Clinics and Others) – Industry Trends and Forecast to 2029.
Global Neonatal Monitoring Devices Market Analysis and Size
According to the World Health Organisation, more than 15 million babies are born pre-maturely in the world every year. This has led to the increased hospitalization rate of neonates. This has further carved the way for the growth of the neonatal monitoring devices. Further, rising technological advancements in the medical equipment and devices will further induce the market growth rate.
- Data Bridge Market Research analyses that the neonatal monitoring devices market is expected to undergo a CAGR of 5.70% during the forecast period. This indicates that the market value, which was USD 7.55 billion in 2021, would rocket up to USD 11.77 billion by 2029. “Hospitals” dominates the end use segment of the neonatal monitoring devices market owing to the growing number of hospitals especially in the developing economies.
Global Neonatal Monitoring Devices Market Definition
From the name itself, it is clear that the role of neonatal monitoring devices are the medical devices that are used in the care and treatment of neonates with an aim to treat the pre-birth defects and defects arising out of pre-mature birth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Blood Pressure Monitors, Cardiac Monitors, Pulse Oximeters, Capnographs, Integrated Monitoring Devices), End Use (Hospitals, Diagnostic Centers, Clinics and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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3M (US), Siemens Healthcare GmbH (Germany), OMRON Healthcare, Inc. (Japan), Kaneka Corporation (Japan), Stryker (US), Terumo Corporation (Japan), Johnson & Johnson Services Inc. (US), BD (US), NATUS MEDICAL INCORPORATED (US), Abbott (US), Nihon Kohden Corporation (Japan), General Electric (U.K.), Koninklijke Philips NV (Netherlands), Drägerwerk AG & Co. KGaA (Germany), Medtronic (Ireland), and Masimo Corporation (U.S.)
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Market Opportunities
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Neonatal Monitoring Devices Market Dynamics
Drivers
- Rising prevalence of conditions
Growing premature birth rate base suffering from conditions globally is one of the major factors fostering the growth of the market. According to the World Health Organization, approximately 15 million infants are born globally before the completion of 37 weeks of gestation, and the rate of preterm births ranges from 5% to 18% of all babies born across 184 countries worldwide.
- Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the advancements in medical technologies and devices is also bolstering the market growth rate.
- Growing investment for healthcare facilities
Surging focus towards improving the condition of healthcare facilities and improving the overall healthcare infrastructure another important factor fostering the growth of the market. Rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further creating lucrative market opportunities.
Opportunities
Furthermore, upsurge in the public-private funding for target research activities, high stress levels in young people and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, unhealthy lifestyle of individuals, rising internet penetration rate, ongoing product development and commercialization and increasing per capita expenditure on health care will further expand the market's growth rate in the future.
Restraints/Challenges Global Neonatal Monitoring Devices Market
On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities, uneven distribution of medical services, dearth of skilled medical professionals and dearth of awareness in the backward economies are expected to obstruct market growth. Also, lack of favorable reimbursement scenario and technology penetration in the developing economies, high costs associated with the procedure, limited insurance coverage and regulatory compliance, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2022-2029.
This neonatal monitoring devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the neonatal monitoring devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Neonatal Monitoring Devices Market
The COVID-19 pandemic essentially affects the market. As indicated by the examination article distributed in the Journal of Perinatology, 2020, low paces of perinatal transmission of the COVID-19 infection among youngsters brought into the world to SARS-CoV-2 positive moms were noticed. Nonetheless, according to the National Registry for Surveillance and Epidemiology of Perinatal COVID-19 Infection (NPC-19), 2020, an occurrence of 44 COVID-19 positive cases were seen out of 2287 children brought into the world to moms with affirmed SARS-CoV-2 disease. Also, according to the examination article distributed in the European Journal of Pediatrics, 2020, youngsters and kids are less helpless to COVID-19 because of the decrease in the working of angiotensin-changing over catalyst type 2 receptors.
Recent Development
- In June 2021, Nuvo Group received the United States Food and Drug Administration approval for the expanded utility of its INVU, which is a prescription-initiated remote pregnancy monitoring platform for the addition of a new uterine activity module that enables remote monitoring of uterine activity.
- In June 2020, Philips launched the Avalon CL Fetal and Maternal Pod and Patch in the United States to support fetal and maternal monitoring. This device allows the continuous, non-invasive monitoring of maternal heart rate, fetal heart rate, and uterine activity by placing the single-use, 48-hour, disposable electrode patch on the mother’s abdomen.
Global Neonatal Monitoring Devices Market Scope
The neonatal monitoring devices market is segmented on the basis of product and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product type
- Blood Pressure Monitors
- Cardiac Monitors
- Pulse Oximeters
- Capnographs
- Integrated Monitoring Devices
Based on product, neonatal monitoring devices market is segmented into blood pressure monitors, cardiac monitors, pulse oximeters, capnographs and integrated monitoring devices.
End use
- Hospitals
- Diagnostic Centers
- Clinics
- Others
Neonatal monitoring devices market has also been segmented based on the end use into hospitals, diagnostic centers, clinics and others.
Neonatal Monitoring Devices Market Regional Analysis/Insights
The neonatal monitoring devices market is analysed and market size insights and trends are provided by country, product and end use as referenced above.
The countries covered in the neonatal monitoring devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the neonatal monitoring devices market because of the strong base of healthcare facilities, widespread utilization of medications, and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The neonatal monitoring devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for neonatal monitoring devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the neonatal monitoring devices market. The data is available for historic period 2010-2020.
Competitive Landscape and Neonatal Monitoring Devices Market Share Analysis
The neonatal monitoring devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to neonatal monitoring devices market.
Some of the major players operating in the neonatal monitoring devices market are:
- 3M (US)
- Siemens Healthcare GmbH (Germany)
- OMRON Healthcare, Inc. (Japan)
- Kaneka Corporation (Japan)
- Stryker (US)
- Terumo Corporation (Japan)
- Johnson & Johnson Services Inc. (US)
- BD (US)
- NATUS MEDICAL INCORPORATED (US)
- Abbott (US)
- Nihon Kohden Corporation (Japan)
- General Electric (U.K.)
- Koninklijke Philips NV (Netherlands)
- Drägerwerk AG & Co. KGaA (Germany)
- Medtronic (Ireland)
- Masimo Corporation (U.S.)
Research Methodology : Global Neonatal Monitoring Devices Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-neonatal-monitoring-devices-market
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