Neonatal birth also called as Preterm birth, is the condition when the baby is born means before 37 weeks of gestation. Neonatal care is the special care given to the premature born baby after the delivery for the first 4 weeks. Premature born baby usually has some health concerns like difficulty in breathing, gaining weight and require intensive medical care, hence are often kept in the neonatal intensive care unit (NICU). Equipment such as infant warmers & incubators, respiratory assistance & monitoring devices, phototherapy equipment and neonatal monitoring devices are used in providing intensive care and monitoring the baby. Neonatal infant care aims in assessment and evaluation of the infant as s/he transitions from intrauterine life to extra uterine life, providing a healthy and secure a safe environment to the infant and monitoring and comparison of the newborn baby thoroughly for normal versus abnormal functioning and potential treatment for maladies.
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COVID – 19 scenario analysis:
- The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
- Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
- Over 4 million people affected globally, with 300 thousand losing their lives due to SARS-CoV-2
- Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers
- Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related to neonatal care has been reduced and this segment have to face negligence subsequently causing negative impact on neonatal infant care market
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Ever rising high birth rate in developing and developed countries, rising prevalence of premature births, increasing number of installations for NICU units, technological advancements in neonatal infant care devices owing to heavy investments in R&D activities and government initiatives to increase survival rates in neonatal incidences are the factors boosting the growth of this market.
As per the UN, maternal & infant care is a global priority, as around 800 women face fatalities per day owing to curable causes associated with pregnancy or childbirth. Rising concerns related to hospital-acquired infections and growing awareness about neonatal health & care devices owing to their efficacy and benefits is expected to propel the market growth
Technological advancements in neonatal care industry to boost the growth
Technological advancements in neonatal care for infants have improved the quality of treatment and care provided over decades. However prematurity still is a serious health concern and ranks in the top 10 list of WHO for burden of deaths caused by diseases. Prematurity leads to deformation of organs, organ injury, particularly related with lungs and brain, and is responsible for 50% of perinatal mortality. Decent progress in the field of neonatal care has been made due to technological advancements resulting into higher survival rate for preterm infants has also been increased by the innovations in an infant incubator. Use of double-walled servo-controlled incubator, and enhanced mechanical ventilators ensuring better treatment and care than their predecessors has better yields and positive outcomes, thereby fueling the growth of neonatal infant care market.
Currently, technology integrated with artificial intelligence, computerization and machine learning has resulted into better health outcomes for the infants. Devices and equipment used comprises of built-in algorithms will help healthcare professionals minimizing the occurrence of errors and potential injuries to the infant. These advancements ensure a significant growth in this neonatal infant care market.
Key Market Players
- Drägerwerk AG & Co. KGaA
- Atom Medical Corp
- Fisher & Paykel Healthcare Limited
- GE Healthcare
- Ibis Medical, Medtronic
- International Biomedical
- Koninklijke Philips N.V.
- Natus Medical Incorporated
- Phoenix Medical Systems Pvt Ltd
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