DUBLIN, Dec. 30, 2023 /PRNewswire/ — The “Neonatal Intensive Care Market Size, Global Forecast 2023-2027, Industry Trends, Impact of COVID-19, Opportunity Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
According to the World Health Organization (WHO), in 2018, preterm births were very high; it has been reported that 15 Million babies are born preterm every year, and this number is increasing.
As these newborn babies have more underdeveloped defense systems, they are more prone to chronic and other diseases like hospital-acquired infections. Therefore these factors are found to be the significant primary reasons for which neonatal intensive care is required. As per the publisher report, Global Neonatal Intensive Care Market will reach US$ 9.9 Billion by 2027.
Worldwide Neonatal Incentive Care Unit Industry is expected to grow with a CAGR of 6.46% from 2023 to 2027
Newborn babies who require intensive medical care are often put in a particular hospital area called the (NICU) neonatal intensive care unit. The NICU has advanced technology and skilled healthcare professionals to give appropriate care for the tiniest patients. It is an intensive care unit (ICU) specializing in ill or premature newborn infants. When a baby is born before completing 37 weeks of pregnancy, most infants are admitted to the NICU have low birth weight, or preterm or suffer from a health condition that needs special care. Neonatal care is a particular type of care given to premature babies with health complications such as difficulty gaining weight or breathing problems.
Pulse Oximeter holds the Largest Market Share as it’s routinely used to Monitor an Infant’s Oxygen Level
Notwithstanding, premature infants suffer from disorders and complications that are caused due to underdeveloped immunity and immaturity of organs. Therefore, neonates and pediatric patients require constant monitoring of critical health parameters such as Incubators, Neonatal Ventilators, Resuscitators, Blood Pressure Monitors, Pulse Oximeter, Capnographs, Phototherapy Equipment and others.
Pulse Oximeter holds the largest market share because it’s routinely used to monitor an infant’s oxygen level during a procedure or treatment. It is also helpful in determining an infant’s heart lungs are healthy and identifying infants with low levels of oxygen in newborn baby blood who may have severe CHD. Furthermore, blood pressure monitoring is essential in managing hemodynamically unstable neonates and preterm infants. Non-invasive blood pressure measurement (NIBP) with oscillometric technique is widespread use in the Neonatal Intensive Care Units (NICUs).
COVID-19 Impact on Neonatal Intensive Care Market
Globally, the COVID-19 pandemic has disturbed health systems; pandemic-associated disruptions are increasing neonatal mortality. Sick and small newborn care is relatively new in global health and has not been included in international assessments of health service disruptions. Keeping mothers and newborns together is an essential aspect of attentive care and is particularly under threat during the pandemic.
Global Neonatal Intensive Care Unit Market Size was US$ 6.8 Billion in 2023
Worldwide, North America runs the neonatal incentive care industry by its massive demand for technologically advanced products that ensure better healthcare delivery for neonates. The value-based healthcare design has led to the development of well-equipped neonatal incentive care centres along with a rising number of approvals for neonatal critical care equipment from the FDA. For instance, U.S. Food and Drug Administration (FDA) approved Masimo’s use of its O3 Regional Oximetry on neonatal patients in June 2019.
Within the Asia Pacific, the growth of the market for neonatal critical care is attributed to the high number of new births and an increase in healthcare expenditure in the region. In addition, increasing government regulatory policy in developing countries such as India has established a strong desire for neonatal critical care equipment and pediatric healthcare facilities.
Key Industry Players
The competitive landscape indicates a consolidated nature of the neonatal intensive care market. Philips, Becton, Dickinson and Company (BD), Teleflex Incorporated and Utah Medical Inc are significant players in the NICU market. A diversified product portfolio and a clear focus on producing highly advanced tools for NICU are adopted by these players for dominance in the global market.
Key Topics Covered:
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics
4.1 Market Drivers
4.2 Market Restraints
5. Global Neonatal Intensive Care Market
6. Market Share – Global Neonatal Incentive Care
6.1 By Products
6.2 By Geographical Region
7. Products – Neonatal Incentive Care Market
7.1 Incubators
7.2 Neonatal Ventilators
7.3 Resuscitators
7.4 Blood Pressure Monitors
7.5 Pulse Oximeter
7.6 Capnographs
7.7 Phototherapy Equipment
7.8 Others
8. Global and National Regulatory Policy
8.1 India
8.2 Europe
8.3 United States
9. Geographic Region – Global Neonatal Market
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Rest of World
10. Porters Five Forces
10.1 Overview
10.2 Bargaining Power of Buyers
10.3 Bargaining Power of Suppliers
10.4 Degree of Competition
10.5 Threat of New Entrants
10.6 Threat of Substitutes
11. Company Analysis
11.1 Philips
11.1.1 Overview
11.1.2 Business Strategy
11.1.3 Financial Insight
11.2 Becton, Dickinson and Company (BD)
11.2.1 Overview
11.2.2 Business Strategy
11.2.3 Financial Insight
11.3 Teleflex Incorporated
11.3.1 Company Overview
11.3.2 Business Strategy
11.3.3 Financial Insight
11.4 Utah Medical Inc.
11.4.1 Company Overview
11.4.2 Business Strategy
11.4.3 Financial Insight
For more information about this report visit https://www.researchandmarkets.com/r/i0eju7
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