The fetal and neonatal monitoring market involves the continuous monitoring of fetal heart rates and contractions during pregnancy and childbirth. Fetal monitoring devices help detect any fetal distress early on to save the lives of infants and mothers. They offer non-invasive monitoring of vital signs without any risks to the fetus or newborn. With advancements in technology, modern devices use real-time monitoring methods like cardiotocography and pulse oximetry which are safer and more reliable than conventional tools. The growing affordability and awareness about such monitoring solutions worldwide is propelling the fetal and neonatal monitoring industry.
According to Coherent Market Insights, The Global fetal and neonatal monitoring market is estimated to be valued at US$ 8,101.1 Mn in 2019 and is expected to exhibit a CAGR of 6.9% over the forecast period from 2020 to 2027.
Key Takeaways
Key players operating in the fetal and neonatal monitoring market are Becton, Dickinson and Company, GE Healthcare, Koninklijke Philips N.V., and Medtronic plc.
Fetal and Neonatal Monitoring Market Insights offers significant opportunities with the increasing adoption of home healthcare and telemedicine. This allows remote monitoring of at-risk infants, reducing hospital visits and healthcare costs.
North America dominates the global market currently due to advanced healthcare infrastructure and high awareness. However, Asia Pacific is expected to witness rapid growth with improving medical facilities and the rising population in countries like India and China generating higher demand.
Market drivers
The growing prevalence of preterm births, low birth weight, and other complications during pregnancy and childbirth has majorly driven the fetal and neonatal monitoring devices market. According to the World Health Organization (WHO), prematurity is the leading cause of death among children under 5 years of age. This has boosted adoption of advanced monitoring tools to reduce infant mortality rates. Furthermore, the rising healthcare expenditure and focus on maternity and neonatal care worldwide are expected to fuel market revenue over the forecast period.
PEST Analysis
Political: Regulatory norms related to pregnancy and after-birth stage are continuously evolving to aid safety and well-being. This influences demand for fetal and neonatal monitoring solutions.
Economic: Rising disposable incomes are driving individuals to opt for advanced medical care during and after pregnancy. This fuels expenditure on fetal and neonatal monitoring products and services.
Social: Increasing social awareness about importance of newborn health tracking is propelling adoption. Additionally, shrinking family sizes increase attention paid to each newborn.
Technological: Integration of AI and sensor miniaturization into fetal and neonatal monitoring devices enhances outcome prediction accuracy. Cloud-based data platforms further centralize tracking of vital parameters.
Geographical Regions of High Market Concentration
North America and Western Europe hold majority market share currently owing to robust healthcare infrastructure and high rates of Caesarean section births. High penetration of advanced monitoring solutions exists across key countries like the United States, Germany, the United Kingdom and France.
Fastest Growing Regional Market
Asia Pacific presents most lucrative growth prospects for fetal and neonatal monitoring market players. Rising medical expenditures, growing middle-class population and improving rural healthcare access are driving steady adoption of modernized monitoring tools in Asia Pacific nations like India, China and Indonesia.
Get This Report in Japanese Language: 胎児・新生児モニタリング市場
Get This Report in Korean Language: 태아 및 신생아 모니터링 시장
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
Comments
0 comment