Market Size of Spain Neonatal and Prenatal Devices Industry
|2019 - 2029
|Base Year For Estimation
|Forecast Data Period
|2024 - 2029
|Historical Data Period
|2019 - 2022
*Disclaimer: Major Players sorted in no particular order
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Spain Neonatal and Prenatal Devices Market Analysis
The Spain neonatal and prenatal devices market is expected to register a CAGR of 6.9% over the forecast period.
The healthcare system witnessed enormous challenges as a result of the COVID-19 pandemic. All outpatient treatments were postponed or restricted during the COVID-19 pandemic to reduce the risk of viral transmission, as most chronic therapies were regarded as non-urgent. According to an article published in the International Journal of Environmental Research and Public Health in April 2022, pregnant women who were infected with COVID-19 were more likely to have a lack of labor companionship, mother-infant separation, and admission to intensive care units (ICU), as well as preterm births and NICU admissions. The difficulties associated with the infection significantly affected market growth during the COVID-19 pandemic. However, the market is currently rebounding well with the resumption of all hospital services. Hence, the demand for neonatal and prenatal care devices is expected to increase over the forecast period.
The primary factors driving the growth of this market are the rising awareness of the importance of neonatal and prenatal care, the rising incidence of preterm births, and the increased demand for prenatal therapeutics, diagnostics, and monitoring devices. An article published in the International Journal of Nursing Studies in November 2021 indicated that midwifery care in Spain was associated with lower rates of operative births and severe perineal damage and had no higher adverse outcomes. The study suggested a shift in the current maternity care system towards greater integration of midwifery-led services to achieve optimal birth outcomes for women and newborns. The increasing demand to improve neonatal services provided in the nation is expected to boost market growth over the forecast period.
Additionally, the rise in prenatal diagnoses in the nation is expected to contribute to market growth. For instance, according to an article published in the journal Ultrasound in Obstetrics & Gynecology in September 2022, there was an increase in prenatal diagnosis in Spain, owing to the introduction of novel diagnostic techniques such as microarray.
All the aforementioned factors are expected to boost market growth over the forecast period. However, the low birth rate in developed nations is a major challenge hindering the growth of the neonatal and prenatal devices market.