Market Trends of United States Neonatal and Prenatal Devices Industry
This section covers the major market trends shaping the US Neonatal & Prenatal Devices Market according to our research experts:
Neonatal Monitoring Devices are Expected to Witness Strong Growth Over the Forecast Period in Product Type Segment
Neonatal monitoring is one of the crucial aspects of neonatal care. With an increasing burden of preterm births and the complications associated with the newborn in the United States, neonatal monitoring has become important. The monitoring devices for newborns include heart rate monitors, respiratory monitors, temperature monitors, and uterine contraction monitors, among others.
A heart rate monitor is one of the most used neonatal monitoring devices. Prenatal heart rate monitoring devices are used to check the condition of a fetus during labor and delivery by monitoring the fetus's heart rate with special equipment, external and internal. Heart rate monitors can help detect changes in the normal heart rate pattern during labor and are crucial in monitoring preterm birth babies during a high-risk pregnancy. With the rising number of preterm births and high-risk pregnancies, the use and demand for fetal heart rate monitors are expected to increase, likely boosting the segment's growth.
The major factors responsible for the increasing use of fetal heart rate monitors are increasing high-risk pregnancies and preterm births, which require continuous monitoring of the fetus for a healthy delivery. Thus, the heart rate monitor segment is expected to grow over the forecast period. With the technological advancement in heart rate monitors, new product launches, and increasing awareness among expectant mothers, the market is expected to grow during the forecast period. For instance, in May 2021, Medtronic plc announced the U.S. commercial launch of the SonarMed airway monitoring system. With the launch of such innovative devices by key companies, the segment is believed to witness strong growth over the forecast period.
Fetal Pulse Oximeters are Expected to Witness Healthy Growth in the Coming Years
Fetal pulse oximeters are gaining attention in neonatal and prenatal care as diseases, such as pneumonia, are rising. As the United States owns one of the most well-established healthcare systems, there is a presence of technologically advanced fetal oximeter manufacturers in the country, which is a crucial factor for market growth.
According to the November 2021 report of the National Cancer Institute of the United States, about 15,590 children, including newborns, were diagnosed with cancer, and 1,780 died of the disease in the United States in 2021. Among children aged 0 to 14 years, approximately 10,500 were diagnosed with cancer. Thus, the prevalence of cancer among children is further expected to fuel growth in the market studied during the forecast period.
Furthermore, new product launches in the segment are expected to propel the growth. For instance, in January 2022, the UC Davis lab in the United States developed a fetal oximetry device to prevent unnecessary C-sections. UC Davis stated during the launch that Fetal Hypoxia is a condition that occurs when the fetus is deprived of an adequate supply of oxygen, which is one reason obstetricians may perform a Caesarean section (C-section). With the help of a pulse oximeter from UC Davis, several C-section surgeries can be avoided, as stated by the company.
Additionally, in November 2021, Masimo Corporation, a US-based company, launched Dual SET Pulse Oximetry, a highly versatile patient monitoring and connectivity hub. Dual SET Oximetry is a significant advancement to Masimo SET guided critical congenital heart disease (CCHD) screening. Hence, the segment is expected to witness substantial growth during the forecast period owing to such launches.
