Neonatal Intensive Care Market Updates : Asia Pacific Region is Projected to Witness Fastest CAGR from 2022 to 2031
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for around one-third of the neonatal intensive care market.
WILMINGTON, DELAWARE , UNITED STATES, March 22, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Neonatal Intensive Care Market by Product (Warmers, Incubators, Monitoring Devices, Respiratory Devices, Phototherapy Equipment, Others), by Application (Neonatal Hypothermia & Low Birth Weight, Jaundice, Others), by End User (Hospitals, Maternity Hospitals, Neonatal & Pediatric Hospital): Global Opportunity Analysis and Industry Forecast, 2022-2031". According to the report, the global neonatal intensive care industry generated $2.0 billion in 2021, and is anticipated to generate $4.4 billion by 2031, witnessing a CAGR of 8.2% from 2022 to 2031.
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The global neonatal intensive care market is experiencing growth due to factors such as the rising prevalence of neonatal hypothermia, an increase in instances of low birth weight among infants, and heightened interest from manufacturers and developers in advancing neonatal intensive care. However, market expansion is hindered by the high cost of neonatal intensive care equipment. Nonetheless, the surge in research and development efforts aimed at enhancing neonatal intensive care offers promising opportunities in the foreseeable future.
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In 2021, the respiratory devices segment dominated the global neonatal intensive care market, capturing approximately one-third of the market share, and is expected to remain at the forefront throughout the forecast period. Furthermore, this segment is anticipated to exhibit the highest compound annual growth rate (CAGR) of 9.0% from 2022 to 2031, attributed to advancements in neonatal intensive care practices and the rising incidence of respiratory illnesses. Additionally, the report delves into other segments such as warmers, incubators, monitoring devices, and phototherapy equipment.
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In 2021, the segment focusing on neonatal hypothermia & low birth weight commanded the largest market share in the global neonatal intensive care market, representing nearly three-fifths of the total market. This segment is anticipated to sustain its leading position throughout the forecast period. Furthermore, it is expected to exhibit the highest compound annual growth rate (CAGR) of 8.6% from 2022 to 2031, driven by the escalating prevalence of neonatal hypothermia and the increasing incidence of preterm birth. Additionally, the report provides an analysis of the jaundice segment.
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In 2021, the neonatal & pediatric hospital segment dominated the global neonatal intensive care market, representing almost three-fifths of its entirety. This segment is forecasted to retain its prominent position throughout the projected period. Furthermore, it is anticipated to exhibit the highest compound annual growth rate (CAGR) of 8.6% from 2022 to 2031, driven by the growing number of neonatal & pediatric hospitals and the heightened demand for advanced treatment options. Additionally, the report examines segments such as hospitals and maternity hospitals.
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In 2021, the Asia-Pacific region emerged as the top revenue contributor, holding approximately one-third of the global neonatal intensive care market share, and is poised to maintain its dominance in the market throughout the forecast period. Furthermore, this region is projected to experience the swiftest compound annual growth rate (CAGR) of 9.3% from 2022 to 2031, driven by factors such as increased product launches, heightened healthcare expenditures, and the substantial population base in the area. The report also examines other regions including North America, LAMEA, and Europe.
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DrΓ€gerwerk AG & Co.
KGaA,
GE Company,
Masimo Corporation,
3M Company,
Phoenix Medical Systems Pvt Ltd.,
Medtronic PLC,
Koninklijke Philips N.V,
Fanem Medical Devices,
Atom Medica,
Mediprema Group,
Siemens Healthcare GmbH,
Terumo Corporation,
Medicor Elektronika,
Ningbo David Medical Device Co., Ltd.,
Zhengzhou Dison Instrument And Meter Co., Ltd,
Angio Dynamics, Vygon (UK) Ltd
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David Correa
Allied Market Research
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