Global Fetal and Neonatal Care Equipment Market Size

Fetal and Neonatal Care Equipment Market Analysis

The Global Fetal and Neonatal Care Equipment Market size is estimated at USD 7.84 billion in 2024, and is expected to reach USD 10.78 billion by 2029, growing at a CAGR of 6.57% during the forecast period (2024-2029).

The COVID-19 pandemic has significantly impacted the fetal and neonatal care equipment market. According to an October 2020 single-center study with the title, 'The effect of the COVID-19 pandemic on maternal health due to delay in seeking health care: Experience from a tertiary center', published in the International Journal of Gynecology and Obstetrics, inadequate prenatal visits were observed in one-third of the women. Lockdown and fear of infection were the top reasons for delayed health-seeking, resulting in 44.7% of pregnancies with problems. Also, according to a July 2020 report published in the Gynecologic and Obstetric Investigation, infection with COVID-19 during pregnancy increases the risk of pregnancy problems such as preterm birth, preterm premature rupture of the membranes, and, in rare circumstances, maternal mortality. As a result, vigilance should be exercised in further investigating and monitoring possible infection in neonates born to COVID-19-infected mothers, as well as providing appropriate care to both the mother and the baby. Thus, the market is predicted to rise due to the increased need for care.

The market growth can be largely attributed to factors such as the 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.

The rise in preterm and low-weight births is one of the major factors for the growth of the fetal and neonatal care equipment market. With the rising number of births, many complications are associated with preterm births, leading to neonatal deaths. Preterm birth is defined as a baby born alive before the 37th week of pregnancy, and birth weight of less than 2500 g is considered a low-weight birth. According to a July 2020 study published in the International Journal of Gynecology & Obstetrics with the title, 'Global burden of preterm birth,' there are around 15 million babies born prematurely around the world, resulting in a global preterm birth rate of about 11%. Additionally, in the United States, as per the Centers for Disease Control and Prevention, an article titled 'Preterm Birth,' updated in November 2021, reported that in 2020, one in every ten infants born were premature. Moreover, the incidence of diseases among newborns has also increased. These factors have increased the market demand for fetal and neonatal care equipment.

In addition, rising key market initiatives by the market players are also expected to drive market growth due to the rise in adoption. For instance, in May 2020, Dragerwerk AG & Co. KGaA launched the Evita V600 and V800, as well as the Babylog VN600 and VN800, devices for acute care ventilation of adults and preterm babies, and the devices were made available for purchase all over the world.

However, the stringent regulatory policies for new device approvals and high prices of advanced neonatal care equipment are the major factors hindering growth in fetal and neonatal care equipment.