Neonatal (Preterm) Infant Care Market

Market Insights

"The Neonatal (Preterm) Infant Care Market was estimated at USD 3.25 billion in 2022 and is likely to grow at a CAGR of 6.74% during 2023-2028 to reach USD 4.85 billion in 2028".

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Market Dynamics

Introduction

Neonatal birth also referred to as preterm birth, is a condition when the baby is born before 37 weeks of gestation. Neonatal care is special care, which is given to the prematurely born baby after the delivery for the first 4 weeks. A prematurely born baby generally has some health issues such as gaining weight, difficulty in breathing, and need intensive medical care, thus are often kept in the neonatal intensive care unit (NICU).

COVID-19 impact

The COVID-19 pandemic has moderately affected the Neonatal (Preterm) Infant Care industry. The rapid spread of COVID-19 has led to several thousands of hospital admissions, thus providing demand for medical equipment in facilities. The newborns and pediatrics are at high risk of COVID-19 infection as they have underdeveloped immune systems.

Market Drivers

A rise in the number of neonatal healthcare facilities around the world coupled with the surge in the number of premature newborns in both the developed and developing countries across the globe is expected to augment the market growth. Around 11% of the overall pregnancies lead to premature or early deliveries. In the U.S. alone, approximately 450,000 babies are born prematurely and worldwide more than 15 million new births are premature, thus bolstering the need for neonatal infant care facilities. However, poor accessibility towards neonatal infant care in the low-income and lower-middle countries.

Segments' Analysis

Product Trends

"The thermoregulation devices segment held the largest market share in 2022 and is likely to grow at a considered CAGR during the forecast period".

• The neonatal (preterm) infant care market has been classified into thermoregulation devices, phototherapy devices, monitoring systems, neonatal hearing screening, neonatal infant resuscitator devices, vision screening, and others.
• Under these, the thermoregulation devices segment held the largest market share in 2022 and is likely to grow at a considered CAGR during the forecast period. The neonates & pediatricians are highly prone to poor thermoregulation on account of permeable skin, high metabolism rate, immature vasomotor control, intrauterine temperature, hypothalamus, and central nervous system, among others.

Regional Analysis

"North American market held a significant market share in 2022 and is projected to grow at a healthy CAGR in the coming years".

• Rising healthcare expenditure, as well as a growing number of product approvals, is likely to boost the market growth in the region. Also, the rising number of infant mortalities in the U.S. further augments the regional market growth.

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Key Players

The following are the key players in the Neonatal (Preterm) Infant Care Market (arranged alphabetically).

• Becton, Dickinson and Company (US)
• Drägerwerk AG & Co. KGaA (Germany)
• Fisher & Paykel Healthcare Limited (New Zealand)
• GE Healthcare (US)
• Koninklijke Philips N.V (Netherlands)
• Masimo Corporation (US)
• Medtronic plc (Ireland)
• Natus Medical Incorporated (US)
• NIHON KOHDEN COPORATION (Japan)
• Phoenix Medical Systems (P) Ltd. (India)

Note: The above list does not necessarily include all the top players in the market.

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