Market Trends of Neonatal Intensive Care Industry
This section covers the major market trends shaping the Neonatal Intensive Care Market according to our research experts:
Incubators Segment is Expected to Cover a Significant Share Over the Forecast Period
A neonatal incubator is an enclosure in which an infant can be kept in a controlled environment for observation and care. The device may also include a heater, a fan, a container for water to add humidity, a control valve through which oxygen may be added, and access ports for nursing care. It is used in preterm births or for some ill full-term babies to observe and treat them in a stabilized environment. It may additionally be used to evaluate and treat sick neonates. Increased birth rates, research, and development in the field of neonatal care, and product launches boost the market growth. For instance, in April 2022, WHO launched a series of documents and updated guidelines to improve the care of newborns. It focuses on the foundation of the essential care of every newborn. Thus, the increase in birth rate along with the increase in the initiative is expected to drive the growth of the segment.
Technological advancements in the development of low-cost incubators, which is also contributing to market growth. For instance, in February 2021, a low-cost incubator was developed by scientists from the University of Maryland and conducted a successful clinical trial in India. A standard incubator found in a newborn intensive care unit costs between USD 1,500 and USD 35,000 which is beyond the means of many hospitals in low- and middle-income countries. Public impact research initiated by the students of the University of Maryland has culminated in the successful clinical trial of an incubator that costs only USD 200.
As per the factors such as increased birth rates, research, and development in the field of neonatal care, and product launches, the incubator segment is expected to grow over the forecast period.
North America is Expected to Cover a Significant Share Over the Forecast Period
North America is expected to hold a significant share of the neonatal intensive care market and is likely to continue over the forecast period. This can be attributed to the presence of well-established healthcare facilities and the rise in the demand for advanced healthcare systems. As the number of devices approved by the regulatory authorities has increased, the value-based healthcare model has encouraged the growth of highly specialized NICU centers. The surge in the number of neonatal fetal deaths in the region will likely supplement the market growth over the analysis period. For instance, as per the CDC update in August 2021, in the United States, about 2% to 10% of pregnancies are affected by gestational diabetes. Thus, for the management of gestational diabetes, the demand for neonatal intensive care is increasing, driving the growth of the market.
Furthermore, according to an article published by the Journal of Pediatrics & Neonatal Care, in November 2022, the prevalence of culture-confirmed neonatal sepsis was 4.3% among newborns in Southern-Eastern Mexico.
Companies are actively involved in product innovations and technological advancements to ensure better recognition, push product sales, and meet the increasing demand. For instance, in October 2021, Movair launched Luisa, a portable and life-supporting ventilator with high-flow oxygen therapy in the United States. The device can be used in homes, hospitals, or institutions. Such development is expected to drive the growth of the market over the forecast period.
Thus, factors such as the presence of well-established healthcare facilities and the surge in the number of neonatal fetal deaths, the market is expected to witness significant regional growth over the forecast period.
