Market Size of United States Neonatal and Prenatal Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.10 % |
| 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?
US Neonatal & Prenatal Devices Market Analysis
The US neonatal and prenatal devices market is expected to register a CAGR of 7.1% during the forecast period.
The PubMed data published in April 2021 concluded that compared to mothers who were COVID-19 negative, SARS-CoV-2 infection increased the odds of preterm birth and iatrogenic preterm delivery was more common in infected women. Thus, the association of COVID-19 with preterm birth impacted the market for fetal and neonatal devices. However, the market studied has re-gained its pre-pandemic demand in 2022 with the decrease in COVID-19 infections.
The major factors for the growth of the neonatal and prenatal devices market include the rising incidence of preterm births, increasing awareness for prenatal and neonatal care, and government initiatives to provide better care for prenatal and neonatal infants. Premature babies are babies born before the mother reaches the gestation period of 37 weeks. In the United States, preterm birth is the leading cause of mortality among children, accounting for 18% of all deaths among children under the age of 5 and up to 35% of all deaths among infants (aged 28 days), with 1 million children dying before reaching the age of 5, as stated by the PubMed data published in 2021. Hence, high mortality due to preterm birth is expected to fuel growth in the market, as neonatal devices can be used to reduce mortality among preterm babies.
Apart from that, several maternal factors, like early or late pregnancy, drug addiction cases, diabetes, hypertension, bleeding, sexually transmitted diseases, and multiple pregnancies, among others, raise the importance and demand for fetal and neonatal monitoring devices. These are expected to drive growth in the market studied. For instance, preterm birth is associated with an increased risk of type 1 and type 2 diabetes from childhood, and children may need early preventive evaluation and long-term monitoring for diabetes.
Therefore, due to the above-mentioned factors, the US neonatal and prenatal devices market is expected to grow during the forecast period.
