Market Size of Australia Neonatal and Prenatal Devices Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 4.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Australia Neonatal & Prenatal Devices Market Analysis
The Australian neonatal and prenatal devices market is expected to register a CAGR of 4.5% during the forecast period.
Despite having a strong health system that includes national strategies and models for outbreak control, Australia's healthcare system suffered during COVID-19. Most of the healthcare workforce was directed to emergency rooms to help individuals infected with the virus. This had a significant influence on elective operations and had an adverse impact on the growth of the studied market within Australia. Moreover, initiatives by the key market players are also expected to increase the market growth as both neonatal and prenatal devices are expected to regain their pre-pandemic demand over the forecast period of the study.
The significant factors for the market growth include the rising incidence of preterm births and increasing awareness of prenatal and neonatal care. Initiatives by public and private organizations are expected to increase the market growth. In April 2021, the Australian government invested around USD 12 million to support and expand the Heart of Australia program, including delivering mobile medical clinic services across northern Queensland. The mobile medical clinic provides access to cardiology, cardiac monitoring, and other services. Such support from the government in providing cardiovascular services will raise demand for neonatal monitoring devices and drive market growth.
Similarly, in June 2021, Healthcare technology supplier Hospital Products Australia (HPA) distributed Mindray's innovative medical devices and solutions in the Australian market following the announcement of a partnership between the two companies. Thus, owing to the above-mentioned factor,s it is expected to drive market growth during the forecast period. However, the low birth rate in the country is expected to hinder the market's growth.
Australia Neonatal & Prenatal Devices Industry Segmentation
Neonatal and prenatal devices are vital tools routinely used in gynecology and obstetrics interventions to examine fetal health during labor and delivery. Neonatal devices are extensively used in Neonatal Intensive Care Units (NICUs), where complex machines and monitoring devices are designed for the unique needs of tiny babies.
The Australia Neonatal and Prenatal Devices Market is Segmented by Product Type (Prenatal and Fetal Equipment (Ultrasound and Ultrasonography Devices, Fetal Doppler, Fetal Magnetic Resonance Imaging (MRI), Fetal Heart Monitors, Fetal Pulse Oximeters, and Other Prenatal and Fetal Equipment) and Neonatal Equipment (Incubators, Neonatal Monitoring Devices, Phototherapy Equipment, Respiratory Assistance and Monitoring Devices, and Other Neonatal Care Equipment). The report offers the values (USD million) for the above segments.
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Australia Neonatal and Prenatal Devices Market Size Summary
The Australian neonatal and prenatal devices market is poised for growth, driven by a combination of increasing awareness and initiatives from both public and private sectors. Despite the challenges posed by the COVID-19 pandemic, which redirected healthcare resources and impacted elective procedures, the market is expected to recover and expand. Key factors contributing to this growth include the rising incidence of preterm births and the government's investment in healthcare programs, such as the Heart of Australia initiative, which enhances access to essential medical services. The collaboration between healthcare technology suppliers and local companies further supports the market's expansion, as seen in partnerships that introduce innovative medical devices to the Australian market.
The demand for neonatal and prenatal devices is also bolstered by the need for respiratory support and temperature regulation in neonatal care, alongside the increasing birth rate. Product launches, such as the MINC+ Benchtop Incubator by Cook Medical, and advancements in embryo development technology, highlight the ongoing innovation within the sector. Additionally, the prevalence of respiratory disorders and the availability of action plans for managing these conditions are expected to drive segmental growth. The market is characterized by a competitive landscape with key players like GE Healthcare and Koninklijke Philips NV, who continue to influence market dynamics through strategic initiatives and product offerings.
Australia Neonatal and Prenatal Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Incidence of Preterm Births
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1.2.2 Increasing Awareness for Prenatal and Neonatal Care
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1.3 Market Restraints
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1.3.1 Low Birth Rates in the Country
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Product Type
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2.1.1 Prenatal and Fetal Equipment
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2.1.1.1 Ultrasound and Ultrasonography Devices
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2.1.1.2 Fetal Doppler
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2.1.1.3 Fetal Magnetic Resonance Imaging (MRI)
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2.1.1.4 Fetal Heart Monitors
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2.1.1.5 Fetal Pulse Oximeters
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2.1.1.6 Other Prenatal and Fetal Equipment
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2.1.2 Neonatal Equipment
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2.1.2.1 Incubators
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2.1.2.2 Neonatal Monitoring Devices
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2.1.2.3 Phototherapy Equipment
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2.1.2.4 Respiratory Assistance and Monitoring Devices
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2.1.2.5 Other Neonatal Care Equipment
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Australia Neonatal and Prenatal Devices Market Size FAQs
What is the current Australia Neonatal and Prenatal Devices Market size?
The Australia Neonatal and Prenatal Devices Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)
Who are the key players in Australia Neonatal and Prenatal Devices Market?
Natus Medical Incorporated, GE Healthcare, Koninklijke Philips NV, Getinge AB and Vyaire Medical are the major companies operating in the Australia Neonatal and Prenatal Devices Market.
