For the lack of immunity power, which is only starting to grow since birth, neonatal or infant are more prone to several types of diseases than the adults. Consequently, they require constant care and with technological advancements, various efficient equipment are now available for the proper care. As the world population surges ahead, the demand in the global neonatal and infant care equipment market is estimates for a healthy growth rate during the forecast period of 2016 to 2024.
This report on global market for neonatal and infant care equipment is a thorough study of all the major factors that are expected to impact the demand during the forecast period, positively or negatively. And based on the analysis, it presents projections for the future state of the market. This report also highlights a few trends which, if carefully exploited, can help the players gain market share. Among the featured attributes of this report is the section on company profile, which analyzes several players of the market for their market share, regional presence, product portfolio, price and margin, marketing strategies, and other recent developments. The global neonatal and infant care equipment market can be segmented on the basis of product type, end users, and geography. By product type, the market can be divided into thermoregulation devices, monitoring systems, phototherapy equipment, vision screening, and hearing screening while on the basis of end users, the market can be categorized into hospitals, pediatric and neonatal clinics, and nursing homes. Geographically, the report studies the opportunities available in the regions of Asia Pacific, Europe, North America, and Rest of the World.
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Rapidly growing world population, coupled with increased cases of premature birth incidence, are the primary driver for this market. According to the World Health Organization (WHO), an estimated 15 million babies are born premature (before 37 completed weeks of gestation), and premature birth complications are among the most common death causes among children under 5 years of age. WHO finds that across 184 countries, the rate of premature birth ranges from 5% to 18% babies born. Improvements in equipment, which are now highly efficient and accurate, is another factor expected to drive the demand during the forecast period. Additionally, the launch of multi-specialty products and rising awareness pertaining to the availability of neonatal care equipment will further boost the demand over the course of next few years.
Moreover, improving healthcare infrastructure in emerging economies is another factors positively influencing the market. However, high price of brain monitoring devices and ventilators along with the lack of product differentiation are two prominent factors that may hinder the growth rate. By product type, thermoregulation devices serve the maximum demand whereas on the basis of end user, the segment of pediatric and neonatal clinics are projected for the best growth rate, although hospitals remain major end user as of now.
Currently, developed countries of the U.S. and Canada makes North America the most lucrative region for the players in this market, with countries such as the U.K., Germany, and France make Europe the second most profitable region. However, Asia Pacific is expected to expand at the most robust growth rate as it resides nearly half of the world’s population and the percentage continues to increase each year.
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Some of the key companies currently operating in global neonatal and infant care equipment market are GE Healthcare, BabyBloom Healthcare BV, Medtronic, Drägerwerk AG & Co. KGaA, Koninklijke Philips N.V., Natus Medical Incorporated, Pluss Advanced Technologies Pvt. Ltd., Fisher & Paykel Healthcare Limited, Weyer GmbH, Novos Medical Systems, Inspiration Healthcare Group plc., Medical Technology Transfer and Services Asia (MTTS Asia), and Fanem Ltda.