Market Size of Europe Fetal and Neonatal Care Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 1.88 Billion |
| Market Size (2029) | USD 2.59 Billion |
| CAGR (2024 - 2029) | 6.69 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Fetal & Neonatal Care Equipment Market Analysis
The Europe Fetal and Neonatal Care Equipment Market size is estimated at USD 1.88 billion in 2024, and is expected to reach USD 2.59 billion by 2029, growing at a CAGR of 6.69% during the forecast period (2024-2029).
With the advent of the COVID-19 pandemic, there has been a significant impact on the studied market. According to the research article published in BMJ Journals-ADC Fetal and Neonatal Edition, 2020, there was a reduction in extremely premature births to 0.19/1000 births during the 2020 nationwide lockdown in Denmark, whereas it was 2.19/1000 births during 2019. Additionally, as per the research article published in the Lancet-Child and Adolescent Health, 2021, the neonatal immune system plays a vital role in fighting against SARS-CoV2 viral infection and it was observed that nearly 80% of the neonates observed in the study did not require respiratory support and nearly one neonate in five was asymptomatic, with no symptoms of COVID-10 infection. Thus, given the aforementioned factors, the need for fetal and neonatal care equipment to fight the COVID-19 infection is not significantly high and thus is expected to impact the studied market growth.
The factors that are driving the market's growth include increasing number of preterm and low-weight births, growing technological advancement in infant and maternal care products, and rising congenital and pregnancy complications due to a sedentary lifestyle. According to the research article published in the European Journal of Pediatrics, 2021, the estimated rate of preterm births in Europe was 8.7 and is one of the major causes of death in early childhood in the region. Preterm babies often require special care in the neonatal intensive care unit (NICU), owing to which the demand for neonatal devices is also increasing, which is expected to act as a key driving force. Moreover, the incidence of diseases and associated complications among newborns has also increased. These factors have increased the demand for fetal and neonatal care equipment in the region.
However, the rising cost of neonatal care is one of the major factors hindering the European fetal and neonatal care equipment market.
