According to FutureWise analysis the market for Neonatal Critical Care Equipment in 2023 is US$ 2.91 billion, and is expected to reach US$ 5.27 billion by 2031 at a CAGR of 7.72%.
The Neonatal Critical Care Equipment market is likely to be driven by the high prevalence of newborn jaundice, an increase in the number of premature labor, and the launch of novel products for use in Neonatal Intensive Care Units (NICU). According to the World Health Organization (WHO), over 15 million infants are born prematurely each year, with over 1 million dying as a result of preterm complications. One of the most difficult jobs is newborn monitoring. In order to manage neonatal symptoms, better tools must be developed. To meet the growing demand for neonatal critical care equipment, public-private initiatives to improve patient care, notably thermoregulation devices, manufacturers are investing heavily.
Fetal and neonatal critical care equipment are medical instruments that assist physicians and doctors in monitoring and caring for infant children. These devices are also used to feed the infant fluids or even draw blood, check the baby's blood pressure, treat a variety of illnesses, and constantly monitor the baby's condition and health.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Neonatal Critical Care Equipment Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Neonatal Critical Care Equipment Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.