to Reach USD 4.4 Billion, Globally, by 2031 at 8.2% CAGR ; Claims AMR

Neonatal Intensive Care Market

The neonatal intensive care market is estimated to reach $4.4 billion by 2031, growing at a CAGR of 8.2% from 2022 to 2031.

The increase in the prevalence of neonatal hypothermia and rise in incidences of low birth weight of infants drives the Neonatal Intensive Care Market growth. โ€

โ€” Allied Market Research

WILMINGTON, DELAWARE , UNITED STATES, April 10, 2024 / — Allied Market Research published a report, titled, “Neonatal Intensive Care Market by Product (Warmers, Incubators, Monitoring Devices, Respiratory Devices, Phototherapy Equipment, Others), by Application (Neonatal Hypothermia & Low Birth Weight, Jaundice, Others), by End User (Hospitals, Maternity Hospitals, Neonatal & Pediatric Hospital): Global Opportunity Analysis and Industry Forecast, 2022-2031″. According to the report, the global neonatal intensive care industry generated $2.0 billion in 2021, and is anticipated to generate $4.4 billion by 2031, witnessing a CAGR of 8.2% from 2022 to 2031.

The neonatal intensive care unit (NICU) within hospitals caters to newborn infants requiring intensive medical attention, equipped with advanced technology and skilled medical professionals.

The market for neonatal intensive care is witnessing growth due to an increase in newborn diseases and complications such as underweight or overweight babies, birth defects, and respiratory distress, necessitating NICU admissions. For instance, respiratory distress syndrome affects a significant number of newborns annually in the U.S.

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‚๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ

Market growth is further fueled by trends such as research and development in neonatal care, increased product approvals, and innovative product launches. For example, Medtronic plc launched the SonarMed airway monitoring system, providing real-time information crucial for infant care.

Rising concerns regarding neonatal health, coupled with increased pregnancy rates and healthcare expenditures, are contributing factors. Government initiatives to enhance healthcare facilities at reduced costs also drive market growth, along with the proliferation of private hospitals and demand for advanced NICU facilities.

Segmentation of the neonatal intensive care market includes products like warmers, incubators, monitoring devices, respiratory devices, and phototherapy equipment. Respiratory devices dominated the market in 2021 due to factors like the COVID-19 pandemic and pneumonia prevalence, while incubators are expected to witness substantial growth due to increased installations and rising cases of underweight infant births.

Applications of neonatal intensive care include addressing hypothermia, low birth weight, jaundice, and others. Hypothermia and low birth weight dominated in 2021, driven by preterm births and NICU equipment advancements, while the jaundice segment is anticipated to grow due to advancements in addressing infant jaundice.

End users of neonatal intensive care services encompass hospitals, maternity hospitals, and neonatal & pediatric hospitals. Neonatal & pediatric hospitals held the majority share in 2021, driven by increased healthcare expenditure, but hospitals are expected to witness growth due to rising numbers and healthcare spending.

In terms of regions, Asia-Pacific led the global market share in 2021, attributed to a high birth rate, prevalence of infant jaundice, and presence of key industry players. Europe is poised for growth due to increased preterm births and healthcare expenditure.

๐‘ซ๐’ ๐‘ท๐’–๐’“๐’„๐’‰๐’‚๐’”๐’† ๐‘ฌ๐’๐’’๐’–๐’Š๐’“๐’š-

Leading Market Players: –

Drรคgerwerk AG & Co.
GE Company,
Masimo Corporation,
3M Company,
Phoenix Medical Systems Pvt Ltd.,
Medtronic PLC,
Koninklijke Philips N.V,
Fanem Medical Devices,
Atom Medica,
Mediprema Group,
Siemens Healthcare GmbH,
Terumo Corporation,
Medicor Elektronika,
Ningbo David Medical Device Co., Ltd.,
Zhengzhou Dison Instrument And Meter Co., Ltd,
AngioDynamics, Vygon (UK) Ltd

David Correa
Allied Market Research
+1 5038946022
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Article originally published on as to Reach USD 4.4 Billion, Globally, by 2031 at 8.2% CAGR ; Claims AMR

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