Market Size of North America Fetal and Neonatal Monitoring Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.50 % |
| Market Concentration | Medium |
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?
North America Fetal & Neonatal Monitoring Market Analysis
The North American fetal and neonatal monitoring market is expected to register a CAGR of 6.5% over the forecast period.
The COVID-19 pandemic had a significant impact on the fetal and neonatal monitoring market. According to the research article published in the Journal of Perinatology, 2020, low rates of perinatal transmission of the COVID-19 virus among neonates born to SARS-CoV-2 positive mothers were observed. However, as per the National Registry for Surveillance and Epidemiology of Perinatal COVID-19 Infection (NPC-19), 2020, an incidence of 44 COVID-19 positive cases were observed out of 2287 neonates born to mothers with confirmed SARS-CoV-2 infection. Though newborns are at lower risk of developing the infection, utmost care, and monitoring are required in instances of COVID-19 infection among infants, which majorly involves continuous monitoring of blood oxygen levels and heartbeat. In this context, the studied market is expected to be significantly impacted during the pandemic.
Fetal & neonatal monitoring is important in delivering life-sustaining, non-invasive, and developmentally supportive care to neonates and in providing a quiet and serene environment to protect the development of the fetus. The major share of the region in the market growth can be attributed to the fast-growing birth rate, preterm births, and expanding population.
According to the Centers for Disease Control and Prevention (CDC), in 2020, about 1 in 10 babies was born too early in the United States. This indicates the high number of preterm births in the country, which ultimately increases the demand for incubator devices. With the rise of preterm birth numbers, the demand for the rise in fetal and neonatal care equipment also increases, which is likely to drive the market in the region.
Additionally, increasing product approvals are expected to drive market growth. For instance, In May 2021 Medtronic plc launched the SonarMed airway monitoring system. The Sonarmed airway monitoring system utilizes acoustic technology to check for endotracheal tube obstruction and verify position in real-time giving clinicians vital information required to make more informed, life-saving decisions for Neonates and Infants.
Thus the above-mentioned factors are expected to drive the growth of the market during the forecast period.
