Neonatal Critical Care Equipment Market To Reach $4.8 Billion By 2030

Neonatal Critical Care Equipment Market Growth & Trends

The global neonatal critical care equipment market size is expected to reach USD 4.8 billion by 2030, based on a new report by Grand View Research, Inc. It is projected to register a CAGR of 7.50% from 2023 to 2030. The significant number of neonatal deaths and preterm births, along with the availability of financial assistance for equipment research & procurement, is expected to boost market growth. For instance, in April 2023, the Eunice Kennedy Shriver National Institute of Child Health and Human Development (NICHD) introduced new funding for the Neonatal Research Network (NRN) participant centers.

Advancements in monitoring and sensing devices have enabled faster and easier measurement of the physiological parameters of neonates. In addition, technological advancements in neonatal critical care have led to the launch of modern devices, including ventilators, imaging systems, and advanced wireless monitoring systems. For instance, in November 2022, GenWorks launched a series of technologically advanced newborn care equipment and devices, including Lullaby Resus Prime, Lullaby Warmer, Brainz Monitor, and Bilicare. The company launched these products to address the challenges associated with hypothermia in newborns in India.

The COVID-19 pandemic negatively impacted the market for neonatal critical care equipment owing to supply chain disruptions, difficulties in raw material procurement, and issues regarding the transportation of medical devices. However, regulatory policies were relaxed during the pandemic, leading to access to advanced equipment in the Neonatal Intensive Care Units (NICUs). A NICU survey published in the Frontiers Journal in January 2021 revealed a negligible prevalence of COVID-19 in NICU patients. In most NICUs, during the beginning of the pandemic, the interaction between neonates and parents was limited, and mothers who tested positive for COVID-19 infection were separated from their infants for 14 days.

 Request a free sample copy or view report summary: Neonatal Critical Care Equipment Market Report

Neonatal Critical Care Equipment Market Report Highlights

• Based on the type, the other segments held the largest market share in 2022. Growth in the segment can be attributed to the high share of soothing tools and the Bilicheck system. Moreover, Bilicheck systems are gaining popularity owing to their noninvasive risk assessment of neonatal jaundice

• The thermoregulation equipment segment held a significant market share in 2022, as keeping neonates in thermoregulatory devices allows healthcare personnel to improve their health and keep neonates warm

• Based on end-use, the hospital segment dominated the market in 2022, as hospitals offer superior care to patients, driving their demand. Implantation of neonatal care equipment in hospitals is estimated to grow over the forecast years, owing to the presence of a well-trained team of cardiologists and well-equipped facilities

• In terms of region, the Asia Pacific held the largest market share in 2022. This can be attributed to the higher demand for neonatal critical care equipment in clinics and hospitals in the region, due to the high neonatal mortality rate in countries such as India

Neonatal Critical Care Equipment Market Segmentation

Grand View Research has segmented the global neonatal critical care equipment market on the basis of type, end-use, and region:

Neonatal Critical Care Equipment Type Outlook (Revenue, USD Million, 2018 - 2030)

• Thermoregulation Equipment

  • Infant Warmers

  • Incubators

• Phototherapy Equipment

• Neonatal Monitoring Devices

  • Blood Pressure Monitors

  • Cardiac Monitors

  • Pulse Oximeters

  • Capnographs

  • Integrated Monitoring Devices

• Respiratory Devices

  • Neonatal Ventilators

  • Continuous Positive Airway Pressure (CPAP) Devices

  • Oxygen Analyzers and Monitors

  • Resuscitators

  • Others

• Others

Neonatal Critical Care Equipment End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Clinics

• Others

Neonatal Critical Care Equipment Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Norway

  • Denmark

  • Sweden

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Mexico

  • Brazil

  • Argentina

• Middle East & Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Neonatal Critical Care Equipment Market

• 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

• Atom Medical Corp.

• Fisher & Paykel Healthcare Limited

• Masimo

• Phoenix Medical Systems (P) Ltd.