The neonatal intensive care unit is a particular section of a hospital where newborns in need of intensive medical care are often admitted. A neonatal intensive care unit (NICU) is equipped with advanced equipment and trained medical personnel to provide specialized care to babies. The growing incidence of neonatal diseases and complications, such as low birth weight babies, overweight babies, birth defects and breathing difficulties, requiring special care and NICU admissions, are driving the growth of the market. For example, in 2020, it was estimated that respiratory distress syndrome occurs in 20,000-30,000 newborns each year in the United States, according to Myspace, a global platform for doctors and healthcare professionals. Additionally, NICU market trends driving the NICU market growth include NICU development R&D, an increase in product approvals, and new product launches into the market. For example, Medtronic plc, a global leader in medical technology, has announced the commercial launch of the SonarMed airway monitoring system in the United States. The first and only device of its kind, the SonarMed airway monitoring system uses acoustic technology to detect endotracheal tube (ETT) blockages and verify their location in real time, providing clinicians with vital information needed to make more informed decisions they save the lives of children . and pediatrics.
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Neonatal Intensive Care Market by Product (Warmers, Incubators, Monitoring Devices, Respiratory Devices, Phototherapy Equipment, Others), by Application (Neonatal Hypothermia & Low Birth Weight, Jaundice, Others), by End User (Hospitals, Maternity Hospitals, Neonatal & Pediatric Hospital): Global Opportunity Analysis and Industry Forecast, 2022-2031″. According to the report, the global neonatal intensive care industry generated $2.0 billion in 2021, and is anticipated to generate $4.4 billion by 2031, witnessing a CAGR of 8.2% from 2022 to 2031.
- CAGR: 8.2%
- Current Market Size: USD 4.4 Billion
- Forecast Growing Region: APAC
- Largest Market: North America
- Projection Time: 2022 – 2031
- Base Year: 2022
Prime determinants of growth
The increasing prevalence of neonatal hypothermia, the increasing incidence of low birth weight babies, and the growing interest of manufacturers and developers in the development of NICU are driving the growth of the global NICU market. However, the high cost of NICU equipment limits market growth. Additionally, increased R&D activity for advances in the NICU presents new opportunities in the coming years.
Covid-19 Scenario
- • The outbreak of the Covid-19 pandemic has had a negative impact on the global NICU market, due to the implementation of the global lockdown causing supply chain disruptions.
- • The entire healthcare industry has focused on saving lives and COVID-19-related products during the pandemic, hampering the NICU industry’s R&D efforts. • However, the market is experiencing a recovery in 2022 and shows stable growth after the pandemic.
The respiratory devices segment to maintain its leadership status throughout the forecast period
Based on product, the respiratory devices segment held the highest market share in 2021, accounting for nearly one-third of the global neonatal intensive care market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 9.0% from 2022 to 2031, owing to advancements in neonatal intensive care and increasing prevalence of respiratory diseases. The report also analyzes segments including warmers, incubators, monitoring devices, and phototherapy equipment.
The neonatal hypothermia & low birth weight segment to maintain its leadership status throughout the forecast period
According to the app, the neonatal hypothermia and low birth weight segment had the highest market share in 2021, accounting for nearly three-fifths of the global neonatal intensive care market, and is estimated to maintain its top-ranking status. leadership throughout the forecast period. Furthermore, the same segment is projected to have the highest CAGR of 8.6% between 2022 and 2031, due to the higher prevalence of neonatal hypothermia and the increased incidence of preterm birth. The report also discusses the jaundice segment.
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The neonatal & pediatric hospital segment to maintain its lead position during the forecast period
Based on end user, the neonatal & pediatric hospital segment accounted for the largest share in 2021, contributing to nearly three-fifths of the global neonatal intensive care market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 8.6% from 2022 to 2031, owing to rise in number of neonatal & pediatric hospitals and increase in demand for advanced treatments. The report also analyzes segments including hospitals and maternity hospitals.
Asia-Pacific to maintain its dominance by 2031
Based on region, Asia-Pacific held the highest market share by revenue in 2021, accounting for about one-third of the global NICU market, and is likely to dominate the market during the forecast period. Additionally, the same region is projected to experience the fastest CAGR of 9.3% between 2022 and 2031, due to increased product launches in the region, rising healthcare spending, and the presence of a large population base in this region. Other regions covered in the report are North America, LAMEA and Europe.
Leading Market Players: –
- Drägerwerk AG & Co.
- KGaA,
- GE Company,
- Masimo Corporation,
- 3M Company,
- Phoenix Medical Systems Pvt Ltd.,
- Medtronic PLC,
- Koninklijke Philips N.V,
- Fanem Medical Devices,
- Atom Medica,
- Mediprema Group,
- Siemens Healthcare GmbH,
- Terumo Corporation,
- Medicor Elektronika,
- Ningbo David Medical Device Co., Ltd.,
- Zhengzhou Dison Instrument And Meter Co., Ltd,
- AngioDynamics, Vygon (UK) Ltd
The report provides a detailed analysis of these key players of the global low cost airlines market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
(𝐈𝐧 𝐭𝐨𝐝𝐚𝐲’𝐬 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐦𝐚𝐫𝐤𝐞𝐭, 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐢𝐬 𝐚 𝐜𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐬𝐭𝐞𝐩 𝐢𝐧 𝐢𝐝𝐞𝐧𝐭𝐢𝐟𝐲𝐢𝐧𝐠 𝐭𝐡𝐞 𝐜𝐨𝐫𝐫𝐞𝐜𝐭 𝐭𝐚𝐫𝐠𝐞𝐭 𝐜𝐨𝐧𝐬𝐮𝐦𝐞𝐫𝐬 𝐚𝐧𝐝 𝐩𝐫𝐨𝐯𝐢𝐝𝐢𝐧𝐠 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐬𝐞𝐝 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐟𝐨𝐫 𝐭𝐡𝐞𝐢𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐧𝐞𝐞𝐝𝐬. 𝐖𝐡𝐢𝐥𝐞 𝐟𝐨𝐫𝐦𝐮𝐥𝐚𝐭𝐢𝐧𝐠 𝐭𝐡𝐞𝐬𝐞 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬, 𝐞𝐯𝐞𝐫𝐲 𝐟𝐚𝐜𝐞𝐭 𝐚𝐧𝐝 𝐬𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐩𝐫𝐨𝐛𝐥𝐞𝐦 𝐩𝐫𝐞𝐬𝐞𝐧𝐭𝐞𝐝 𝐛𝐲 𝐭𝐡𝐞 𝐩𝐚𝐫𝐭𝐢𝐜𝐮𝐥𝐚𝐫 𝐬𝐞𝐜𝐭𝐨𝐫 𝐢𝐬 𝐭𝐡𝐨𝐫𝐨𝐮𝐠𝐡𝐥𝐲 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐞𝐝. 𝐈𝐭 𝐚𝐥𝐬𝐨 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐬 𝐧𝐮𝐦𝐞𝐫𝐨𝐮𝐬 𝐠𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐫𝐞𝐟𝐨𝐫𝐦𝐬, 𝐭𝐡𝐞 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐞𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭, 𝐜𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐛𝐞𝐡𝐚𝐯𝐢𝐨𝐮𝐫, 𝐜𝐮𝐫𝐫𝐞𝐧𝐭 𝐚𝐧𝐝 𝐟𝐮𝐭𝐮𝐫𝐞 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬, 𝐚𝐧𝐝 𝐫𝐚𝐩𝐢𝐝𝐥𝐲 𝐜𝐡𝐚𝐧𝐠𝐢𝐧𝐠 𝐭𝐞𝐜𝐡𝐧𝐢𝐜𝐚𝐥 𝐛𝐫𝐞𝐚𝐤𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐬. 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐢𝐝𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐟𝐨𝐫𝐦𝐮𝐥𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐩𝐥𝐚𝐧𝐬 𝐚𝐧𝐝 𝐩𝐨𝐥𝐢𝐜𝐢𝐞𝐬.)
Covid-19 scenario-
- Closure of the majority of healthcare facilities and serious concerns over the exposure of Covid-19 had a negative impact on the global bone cancer treatment market.
- However, as the global situation started getting better, the market for bone cancer treatment also got back on track.
The global Bone Cancer Treatment market is analyzed on the basis of type, end-use industry, and region. The report includes a comprehensive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can take advantage of the breakdown and devise stratagems based on the fastest growing and highest revenue generating segments noted in the report.
Based on type, the osteosarcoma segment accounted for nearly three-fifths of the total market revenue in 2021 and is expected to dominate by 2031. The same segment would also post the fastest CAGR of 4.7% over the entire forecast period.
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By drug type, the Immunotherapy & Targeted Therapy segment accounted for more than two-thirds of the total market revenue in 2021 and is expected to dominate by 2031. The same segment is also projected to experience the fastest CAGR of 4.6% over the entire forecast period. Based on distribution channel, the hospital pharmacy segment earned more than half of the total market revenue in 2021 and is expected to dominate by 2031. However, the online pharmacy segment would cite the fastest CAGR of 5.3% in the entire forecast period. Depending on the region, the North America market generated more than two-fifths of the global market revenue in 2021 and is projected to retain the majority by 2031. However, the Asia-Pacific region would have the fastest CAGR of 5.2 %. during the forecast period. The other provinces analyzed in the report include Europe and LAMEA.
The key market players analyzed in the global bone cancer treatment market report include
Cancervax, Inc,
Cellectar Biosciences, Inc,
Pfizer, Inc,
Advaxis, Inc,
Isofol Medical Ab,
Gradalis Inc,
QSAM Biosciences, Inc.,
Takeda Pharmaceutical Company Limited,
Hikma Pharmaceutical PLC,
and Zentalis Pharmaceuticals