Neonatal Critical Care Equipment Market: Respiratory Equipment Segment Dominated The Market In Terms Of Revenue Share

 Neonatal Critical Care Equipment Industry Overview

The global neonatal critical care equipment market size is expected to reach USD 1.4 billion in 2030, expanding at a CAGR of 8.83%, according to a new report by Grand View Research, Inc. Rising number of preterm births, increasing incidence of newborn jaundice, and launch of new products are some of the factors responsible for market growth. The Neonatal Intensive Care Unit (NICU) provides treatment to premature infants and those having breathing problems, anemia, heart defects, and other problems requiring critical care.

The majority of admissions in the NICU comprise premature babies. To support their treatment, various organizations are providing financial assistance to healthcare providers. For instance, in October 2018, the Australian Government announced a provision of AUD 600,000 to the Miracle Babies Foundation to support the families of premature babies. The number of cases of jaundice and respiratory problems in neonates is on rising and precautionary measures are being taken by government authorities. For instance, the government is increasing the number of NICU facilities to tackle health-related problems in neonates.

Neonatal deaths are a major concern in both developing and developed economies, however, with a significant difference in death rates. According to OECD, in 2018, countries in Southeast and South Asia reported neonatal deaths as compared to East Asian countries. A mortality rate of more than 20 per 1,000 live births was recorded in India & Myanmar, with more than 40 per 1,000 in Pakistan.

On the other hand, countries such as Australia, Japan, Singapore, Korea, and China have reported around 2 deaths per 1,000 live births. Although the death rate in the U.S. is lesser than that in developing economies, it is still significant, with 47% of 2.4 million newborn deaths (112,800) in 2019 recorded during the neonatal period. To counter this problem, there is a growing demand for neonatal monitoring and care equipment.

Moreover, considering the high number of newborn deaths in developing economies, startups are focusing on product innovations. Coeo Labs, an Indian MedTech startup, designed a neonatal CPAP system that can help reduce deaths due to Respiratory Distress Syndrome (RDS) during neonatal transportation. Moreover, financial assistance is being provided to local manufacturers in India as part of the government’s Make in India program.

The COVID-19 pandemic has, in some countries, led to pregnant women receiving less care due to lockdown restrictions, resulting in complications causing stillbirth. According to a study published in August 2020 in The Lancet Global Health, stillbirths in Nepal increased from 14 per 1,000 births before lockdown (late March 2020) to 21 per 1,000 births by end of May 2020—an increase of almost 50%. Such situations have amplified the production of neonatal critical care equipment to ensure that premature babies are protected from the virus.

 

Neonatal Critical Care Equipment Market Segmentation

Grand View Research has segmented the global neonatal critical care equipment market based on type and region:

Based on the Type, the market is segmented into Thermoregulation Equipment, Phototherapy Equipment, Monitoring Equipment, Respiratory Equipment, and Others.

  • The respiratory equipment segment dominated the market with a share of 29.7% in 2022. The growth of the segment is characterized by an increase in respiratory disorders requiring NICU admissions and the launch of new products. For instance, in September 2018, the Augmented Infant Resuscitator (AIR) was launched by Koninklijke Philips N.V to aid in the resuscitation of the asphyxiated newborn babies.
  • Infants in respiratory distress are provided with ambu-bag support or oxygen therapy during transportation to a NICU facility, which does not fulfill the clinical requirements of infants, leading to patient death in many cases.
  • the thermoregulation equipment segment is projected to exhibit maximum growth of 19.8% compound annual growth rate (CAGR) during the forecast period. Thermoregulation devices include newborns incubators, newborn cooling systems, radiant warmers, and others.

 

Key Companies & Market Share Insights

The market is characterized by the increase in NICU facilities and research and development leading to the launch of new products. According to the American Hospital Association, there were around 53,096 NICUs in overall U.S. community hospitals. Also, medical service providers are adopting the use of advanced products to improve patient comfort. In May 2019, the NICU at St Peter’s Hospital announced the arrival of a transport incubator system which is used for transport while admitting the babies to a NICU and post-discharge. Some of the prominent players in the global neonatal critical care equipment market include:

  • Cardinal Health
  • Drägerwerk AG & Co. KGaA
  • Koninklijke Philips N.V
  • GE Healthcare
  • Medtronic
  • Vyaire
  • BD
  • Utah Medical Products, Inc.
  • Natus Medical Incorporated
  • Ambu A/S
  • Inspiration Healthcare Group plc


Key Companies & Market Share Insights

Key players operating in the market are Oracle Corporation; SAP; Microsoft; Salesforce; Tableau Software; TIBCO Software Inc.; Sisense Inc.; Domo, Inc.; Looker Data Sciences Inc.; and Infor Inc. MicroStrategy Incorporated.; QlikTech International AB; Yellowfin International Pty Ltd; and Board International. The global footprint of key players, extensive product portfolios, and increased focus on advancements in healthcare business intelligence solutions is impacting the market growth. Moreover, the development of mobile-based business intelligence applications by key vendors that allow users to access high-quality analytic services remotely is a key factor driving revenue growth. Some of the prominent players in the global healthcare business intelligence market include:

  • Microsoft
  • Oracle Corporation
  • SAP
  • Tableau Software Inc.
  • Perficient Inc.
  • Tibco Software Inc.
  • Infor Inc.
  • Domo Inc.
  • Sisense Inc.
  • Panorama Software Inc

 

Order a free sample PDF of the Neonatal Critical Care Equipment Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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