Neonatal Intensive Care Market Business Outlook with COVID-19 Scenario, Growth, Latest Trend Analysis and Forecast 2023

Research Reports

Jan 22, 2021

As per the latest MRFR report, such factors include increasing neonatal population, growing cases of diseases in new-born children, a growing number of premature birth cases, and rising prevalence of chronic diseases like diabetes and high blood pressure. Additional factors adding market growth include rising adoption of a sedentary lifestyle, burgeoning demand for high-quality care for newborns, product development and innovation, growing awareness about neonatal intensive care, and improving healthcare infrastructure are also adding market growth.

The global neonatal intensive care market is likely to grow at a 5.5% CAGR between 2018- 2023, according to the new report by Market Research Future (MRFR). Neonatal intensive care unit or NICU, simply put, are special nursery care rooms that are specially designed for newborns that require intensive medical care.

On the flip side, the shortage of skilled professionals, poor accessibility of neonatal care equipment, high cost of equipment, lack of proper refurbishment, high maintenance cost, and lack of awareness are factors that may limit the global neonatal intensive care market growth over the forecast period. Besides, the use of neonatal intensive care for COVID-infected patients in developed and underdeveloped countries due to a shortage of hospitals and neonatal babies being prone to catch infections too soon is also likely to impact market growth.

Regional Analysis

Based on the region, the global neonatal intensive care market report covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), & the Middle East and Africa. Of these, the Americas will lead the market over the forecast period. Increasing government support, rising neonatal population, and growing incidences of congenital disorders in newborn are adding to the global neonatal intensive care market growth in the region.

The global neonatal intensive care market in Europe is predicted to hold the second-largest share over the forecast period. Favorable support from the government, such as health insurance and National Health Service, rise in insurance coverage, technological advances, and the presence of a well-established healthcare system are adding to the global neonatal intensive care market growth in the region.

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Market Segmentation

The MRFR report provides an inclusive segmental analysis of the global neonatal intensive care market report based on end user and product.

By product, the global neonatal intensive care market is segmented into catheters, phototherapy equipment, convertible warmer and incubators, neonatal monitoring devices, respiratory devices, incubators, infant warmers, and others. The infant warmers segment is sub-segmented into non-electrical infant warmers and electric infant warmers. The neonatal monitoring devices are further segmented into capnographs, pulse oximeters, blood pressure monitor, cardiopulmonary monitor, and others.

By end user, the global neonatal is segmented into childcare clinics, hospitals, and others.

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Key Players

Eminent players profiled in the global neonatal intensive care market report include Vetland Medical Sales & Services, Smiths Group plc, Patterson Companies, Inc., Midmark Corporation, Medtronic, Jorgensen Labs, Henry Schein, Digicare Biomedical Technology Inc., DRE Medical, B. Braun Melsungen AG, and others. Industry players have encompassed several strategies to create a niche in the market and also cater to consumers’ burgeoning needs. These strategies comprise mergers and acquisitions, extensive research and development activities, joint ventures and collaborations, partnerships, geographic expansions, contracts, new product developments, new product launches, strategic alliances, to name a few.

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