Global Neonatal Intensive Care Market

Global Neonatal Intensive Care Market Size Forecast Report 2024-2032

0 Comment October 30, 2024 Uncategorized

Neonatal Intensive Care Market Analysis

The Neonatal Intensive Care Market is projected to grow from US$3.47 billion in 2023 to US$5.23 billion by 2030, reflecting a compound annual growth rate (CAGR) of 6.04%. Neonatal care plays a vital role in supporting preterm or medically complex newborns and is essential for promoting maternal and child health. Neonatal Intensive Care Units (NICUs) utilize specialized equipment, round-the-clock monitoring, advanced technology, and highly trained staff to address the diverse needs of newborns. These units provide a controlled environment crucial for the safety and development of vulnerable infants. This specialized care not only saves lives but also emphasizes family-centered treatment approaches. The demand for NICU equipment is increasing, driven by rising healthcare costs and a global focus on maternal and child health. In a recent funding bill, the U.S. allocated an additional $200 million to NICUs, aimed at enhancing access to research, treatment options, and patient care facilities. This acknowledgment of the importance of infant care encourages further exploration of ways to improve long-term health outcomes, neonatal survival rates, and the expansion of NICU services to underserved populations.

China Neonatal Intensive Care Market

China, home to one-fifth of the world’s population, has made significant strides in neonatal care, resulting in decreased infant mortality rates. The demand for comprehensive newborn care is rising due to factors such as advancing maternal age, increased investment in assisted reproductive technology (ART), and concerns over environmental pollution. The Chinese government’s investment in healthcare infrastructure, advocacy for newborn care, and dissemination of health information have all contributed to the growth of the neonatal care equipment market. With rising disposable incomes and increased government funding for NICU facilities and technology, access to NICU services has improved. In 2018, the Chinese Neonatal Network was established to enhance outcomes for newborns, comprising 92 top NICUs across 31 provinces. This initiative has led to a notable increase in the survival rates of preterm neonates in NICUs. The implementation of the two-child policy has resulted in more births, with older mothers being more likely to experience multiple pregnancies, thereby increasing the risk of premature deliveries. Advances in perinatal-neonatal care have also contributed to improved survival rates for premature infants. Rapid economic development in China has further led to a rise in the incidence of premature births.

Key Players in the Neonatal Intensive Care Market

Prominent companies in the global neonatal intensive care market include Masimo Corporation, 3M Company, Medtronic PLC, Koninklijke Philips N.V., Siemens Healthcare GmbH, Terumo Corporation, Angio Dynamics, and Drägerwerk AG & Co. These organizations are central to the development and provision of neonatal care technologies.

Neonatal Intensive Care Market News

Masimo Corporation
  • In December 2023, the U.S. government allocated $200 million to NICUs, enhancing access, care quality, and research. This funding is pivotal in promoting neonatal care and extending NICU services to remote areas.
  • In March 2021, Masimo introduced monitoring solutions to improve maternal and newborn safety during childbirth and the immediate postpartum period. Their Masimo SET pulse oximetry technology has significantly advanced the standard of care for infants globally.
  • In June 2022, Masimo collaborated with CHOC to develop non-invasive technology for monitoring blood oxygen and hemoglobin levels in newborns.
Medtronic PLC
  • In May 2021, Medtronic launched the SonarMed™ airway monitoring system, which uses acoustic technology to assess endotracheal tube (ETT) obstruction and verify position in real-time, assisting clinicians in making informed decisions for pediatric patients.
  • In March 2023, Medtronic partnered with BMJ to enhance hospital care standards.
  • Medtronic also announced a collaboration with GE Healthcare to address the specific needs of Ambulatory Surgery Centers and office-based labs, offering a range of products and financial solutions.
Koninklijke Philips N.V.
  • In February 2024, Royal Philips introduced AI-enabled innovations designed to enhance patient care.
  • In April 2024, Philips partnered with Smart to integrate viQtor with their patient monitoring platforms, enabling continuous tracking both inside and outside hospital settings, starting in Europe.
Siemens Healthcare GmbH
  • In December 2020, Bio-Rad Laboratories expanded its marketing agreement with Siemens Healthineers, providing quality control products and management solutions for Siemens Healthineers’ Atellica® Solution platforms.
Drägerwerk AG & Co.
  • In April 2024, Dräger launched the Vista 300 patient tracking system in India, aimed at improving data flow across hospital departments.
  • The company also introduced the Dräger PressurePod, which transmits measured values to the PulmoVista 500 EIT device, enhancing monitoring capabilities in neonatal care
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Products – Market breakup from 6 viewpoints:

  1. Warmers
  2. Incubators
  3. Monitoring Devices
  4. Respiratory Devices
  5. Phototherapy Equipment
  6. Others
   

End-User – Market breakup from 3 viewpoints:

  1. Hospital & Neonatal Pediatric Hospital
  2. Pediatric Clinics & Childcare
  3. Others
   

Countries – Market breakup from 21 Countries viewpoints:

  1. North America
  1.1    United States 1.2    Canada  
  1. Europe
  2.1    Germany 2.2    United Kingdom 2.3    France 2.4    Italy 2.5    Spain 2.6    Switzerland  
  1. Asia Pacific
  3.1    Japan 3.2    China 3.3    India 3.4    South Korea 3.5    Indonesia 3.6    Australia  
  1. Latin America
  4.1    Mexico 4.2    Brazil 4.3    Argentina  
  1. Middle East & Africa
  5.1    Saudi Arabia 5.2    South Africa 5.3    United Arab Emirates  
  1. Rest of World
   

All companies have been covered from 3 viewpoints:

  • Overview
  • Recent Development
  • Revenue
   

Company Analysis:

  1. Masimo Corporation
  2. 3M Company
  3. Medtronic PLC
  4. Koninklijke Philips N.V
  5. Siemens Healthcare Gmbh
  6. Terumo Corporation
  7. Angio Dynamics
  8. Drägerwerk AG & Co. KGaA
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