In a recent report titled, ‘Prenatal, Fetal and Neonatal Equipment Market (Prenatal & Fetal Equipment: Ultrasound & Ultrasonography, Fetal Dopplers, Fetal MRI and Fetal Monitors; Neonatal Equipment: Infant Warmers & Incubators, Phototherapy Equipment, Neonatal Monitoring & Respiratory Assistance & Monitoring Devices; and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019’, Transparency Market Research provides clear insights and perspective on the global market, together with current trends, growth drivers and industry threats. TMR, a business intelligence company based in the U.S., states that worldwide market was worth $5.89 billion in 2012 and is projected to grow to $8.92 billion by 2019 at a CAGR of 6.1% during the forecast period.
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The worldwide prenatal, fetal and neonatal equipment market consists of a wide-range of devices such as fetal Dopplers, ultrasound and ultrasonography, fetal monitors, fetal magnetic resonance imaging (MRI), phototherapy equipment, infant warmers and incubators, respiratory assistance and monitoring devices, and neonatal monitoring devices. Among these, respiratory assistance and monitoring devices accounts for 40% of the neonatal equipment market share due to rising incidences of premature births across the world. The highest incidence rate of premature births in 2005 was recorded in Africa at 12%, followed by the U.S. at 10.6%. In terms of overall revenue generated by the global prenatal, fetal and neonatal equipment market, the U.S. held over 30% of the industry share, followed by Europe with more than 25%. However, due to high birth rate, rising incomes and medical expenditure, increasing demand for advanced medical equipment, and growing awareness regarding prenatal and neonatal care, the Asia-Pacific region is expected to fuel the growth of the market, registering the highest CAGR of 7.8% from 2013 to 2019.
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Premature birth is known to kill over one million newborns in the world every year, and nearly 15 million premature babies require critical and intensive care. People have realized the need for highly-advanced medical technology and equipment to tend to these cases, as a result of which, the global prenatal, fetal and neonatal equipment market has grown over the years. Emerging economies, too, have joined in the efforts to improve prenatal and neonatal care, and government and non-profit organizations have started taking initiatives towards this direction. On the other hand, there has been low or flat birth rate in some developed countries and absence of product innovations and differentiation is expected to stall the growth of this market.
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The TMR report studies a number of leading companies in the worldwide prenatal, fetal and neonatal equipment market. These include GE Healthcare, Philips Healthcare, Cooper Surgical, Inc., CareFusion Corporation, Drägerwerk AG & Co. KGaA, Covidien PLC, FUJIFILM SonoSite, Inc., Siemens Healthcare, Fisher & Paykel Healthcare Limited, Getinge AB, Nonin Medical, Inc., Smiths Medical, and Natus Medical Incorporated.