Neonatal Infant Care Market

Neonatal Infant Care Market Outlook (2024 to 2034)

The global neonatal infant care market size is estimated to expand from US$ 2,524.6 million in 2024 to US$ 4,704.4 million by 2034. Over the assessment period, global demand for neonatal infant care products is projected to increase at a 6.4% CAGR.

Demand in the market is expected to remain high for thermoregulation devices during the forecast period. This is because they play a vital role in maintaining the core body temperature of preterm infants susceptible to temperature fluctuations. The target segment is set to expand at a 6.3% CAGR through 2034.

Neonatal infant care devices are witnessing significant demand globally, owing to their ability to support the health and development of premature or critically ill newborns. From regulating body temperature and monitoring vital signs to administering treatments, these devices help lower infant mortality rates.

Preterm birth is becoming a significant healthcare problem and a contributor to perinatal mortality and disability. Healthcare professionals are using several approaches and medical technologies to address this issue. This, in turn, is providing impetus for the growth of the neonatal infant care market.

There is also a dramatic rise in the prevalence of neonatal diseases like jaundice, congenital anomalies, and respiratory distress syndrome. This is creating a high demand for specialized neonatal care products and services, and the trend will likely continue through 2034.

New monitoring technologies, such as neonatal heart monitors, are making their entrance into the market. Leading players are focusing on developing neonatal monitors with advanced features like ECG recordings, respiratory rate & airflow, oxygen saturation over time, and invasive arterial blood pressure. This will bode well for the market.

Report Attributes	Details
Estimated Market Value (2024E)	US$ 2,524.6 million
Projected Market Value (2034F)	US$ 4,704.4 million
Global Market Growth Rate (2024 to 2034)	6.4% CAGR
Thermoregulation Devices Segment Market Share (2034)	50.8%
Hospitals Segment Market Share (2034)	51.4%
North America Market Share (2034)	40.2%
Latin America Growth Rate (2024 to 2034)	5.6%
Key Companies Profiled	GE Healthcare Koninklijke Philips N.V Medtronic plc Natus Medical Incorporated Fisher & Paykel Healthcare Limited Masimo Corporation Becton, Dickinson and Company Phoenix Medical Systems (P) Ltd. Natus Medical Novos Medical Systems

Neonatal Infant Care Market Analysis

Which Factors are Propelling Neonatal Infant Care Product Demand?

“Rising Prevalence of Preterm Birth Globally”

The rising incidence of preterm births at an alarming rate is becoming a big concern for healthcare workers as well as the governing bodies. It not only puts the life of both baby and mother in danger but also incurs heavy financial losses.

As per the World Health Organization (WHO), more than 1 in 10 babies (an estimated 15 million babies) are born preterm every year. Further, around 1 million children die each year due to complications of preterm birth. This spike in preterm births is playing a key role in fueling demand for neonatal care equipment, and the trend will likely continue through 2034.

“Increasing Government Initiatives to Improve Neonatal Care”

Amid a spike in preterm birth and mortality, enhancing prenatal health has become a top priority of governments and regulatory bodies to protect the child as well as the mother. As a result, several initiatives and programs are being launched, creating a conducive environment for market growth.

Governments and other organizations are allocating huge funds to develop proper prenatal care infrastructure. Similarly, new alliances and coalitions are formed to improve neonatal care and reduce neonatal mortality rates (NMR). For instance, in 2021, the National Consumer League (NCL) and other organizations formed the Preterm Birth Prevention Alliance (PBPA) to improve neonatal care and reduce recurrent preterm birth cases.

Similarly, in order to transform maternal and newborn health-care delivery, the World Health Organization (WHO) launched new recommendations for the care of the preterm in 2022. Such steps are expected to present lucrative growth opportunities for neonatal infant care device manufacturers. In addition, the establishment of new neonatal clinics and NICUs is anticipated to fuel sales of neonatal infant care devices through 2034.

Government and private firms are further setting up new hospitals and healthcare facilities to make pediatric and neonatal care more extensive and accessible. This will likely uplift the demand for neonatal care devices.

What are the Key Neonatal Infant Care Market Trends?

“Ongoing Technological Advancements and Rise of Home-based Newborn Care Devices”

Advances in neonatology are resulting in improved outcomes for high-risk newborns. Hence, leading companies are shifting their focus to developing advanced neonatal technologies, including ventilators, incubators, blood glucose monitors, pulse oximeters, and phototherapy units.

The market is witnessing a shift towards miniaturized monitors, AI-powered diagnostic tools, and noninvasive ventilation options. New wireless monitoring systems are making their way into the market. These innovations are expected to improve neonatal care, contributing to the neonatal infant care market growth.

Another key trend observed in the market is the rising popularity of home-based newborn care (HBNC). This, in turn, is prompting leading manufacturers to introduce novel home-based neonatal infant care solutions.

For instance, in 2023, Masimo Corporation introduced Masimo Stork, a state-of-the-art baby monitoring system for home settings. By using this solution, parents can get insights into their baby’s health data.

Which Factors Are Limiting Market Expansion?

“Low Birth Rates and High Cost of Advanced Neonatal Technologies”

Several countries are witnessing low birth rates due to the high usage of contraception products and changing government policies and social norms, among other factors. This, in turn, leads to low adoption of neonatal care devices, thereby limiting market expansion.

Another factor restraining the growth of the neonatal infant care industry is the high cost of advanced neonatal devices. Modern neonatal solutions equipped with advanced technologies are expensive, which reduces their adoption, especially across developing and underdeveloped nations.

Country-wise Insights

North America is anticipated to remain at the top of the ladder in the neonatal infant care market throughout the forecast period. This is due to increasing preterm births and continuous neonatal infant care technology breakthroughs.

The North America neonatal infant care industry is poised to register a CAGR of 6.6% over the assessment period. It is expected to hold a global market share of 40.2% by 2034, with the United States leading from the forefront.

What Makes the United States a Dominant Neonatal Infant Care Market?

“Increasing Healthcare Spending Boosting the United States Market”

The United States neonatal infant care market value is estimated to total US$ 1,570 million by 2034. Over the forecast period, demand for neonatal infant care products in the United States is projected to rise at 6.8% CAGR.

Several factors are anticipated to spur the growth of the neonatal infant care industry in the United States. These include rising preterm birth rates, increasing healthcare spending, rising number of neonatal clinics, and robust presence of leading manufacturers like GE Healthcare and Masimo Corporation.

In recent years, there has been a surge in preterm birth rates in the United States. For instance, as per the Centers for Disease Control and Prevention (CDC), preterm birth affected 1 of every 10 infants born in the United States in 2022. This is creating a high demand for critical care equipment.

The United States government is also playing a key role in fostering the growth of the neonatal infant care industry. It is spending large amounts on expanding and upgrading healthcare infrastructure, including NICUs. Many new public health initiatives and neonatal care programs are also being launched to lower infant mortality rates.

Another key factor expected to boost the United States neonatal infant care market share is the development of advanced technologies. Subsequently, the growing popularity of home health care will benefit the target industry.

What is the Brazil Neonatal Infant Care Market Forecast?

“Rising Awareness of Neonatal Care Fueling Sales in Brazil”

Brazil’s neonatal infant care market is projected to total a valuation of US$ 74 million in 2024 and US$ 133 million by 2034. Overall sales of neonatal infant care devices in Brazil will likely grow at 6.0% CAGR during the forecast period.

One of the primary factors driving growth in Brazil is the escalating awareness of neonatal care. Both public and healthcare professionals in Brazil are becoming aware of the importance of neonatal care and early interventions. This, in turn, is driving demand for advanced neonatal care services and devices.

Brazil's government is launching new awareness campaigns and educational initiatives to educate people about neonatal care. This will also play a key role in fueling sales of neonatal infant care devices like monitoring systems and phototherapy units in the country during the forecast period.

Category-wise Insights

The below section provides key insights into leading segments, their growth projections, and respective shares in the neonatal infant care industry. Based on product, the thermoregulation devices segment will likely retain its market dominance, holding a value share of 50.8% in 2034. By end-user, the hospitals segment is projected to account for a prominent market share of 51.4% in 2034.

Which is the Most Popular Product in the Market?

“Thermoregulation Devices Remain Highly Sought-after Products”

Thermoregulation devices are expected to remain a highly sought-after product in the market. This is due to the growing importance of thermoregulation devices like incubators in neonatal infant care.

As per the latest analysis, demand for thermoregulation devices is projected to grow at 6.3% CAGR during the assessment period. The target segment will likely total US$ 2,389.2 million in 2034, contributing a revenue share of 50.8%.

Neonatal thermoregulation devices are crucial for maintaining the body temperature of newborns vulnerable to temperature fluctuations. They help to prevent conditions like hypothermia, which can result in serious health complications. As a result, their demand is rising significantly.

Rising incidence of preterm births globally is expected to positively impact sales of thermoregulation devices. Similarly, the importance of thermoregulation devices for premature babies and those with critical illnesses will further boost the target segment.

Hospitals and other end users are investing large amounts in thermoregulation devices like neonatal incubators, radiant warmers, servo-controlled warming beds, etc. This is because these solutions help them to protect neonates from hypothermia and other conditions.

Which is the Leading End-user of Neonatal Infant Care Devices?

“Hospital to Remain Prominent End-User of Neonatal Infant Care Solutions”

As per the latest report, hospitals are expected to remain prominent end users of neonatal infant care devices, generating significant revenue in the market. The target segment is poised to exhibit a CAGR of 6.3% during the forecast period. It will likely total a valuation of US$ 2,416.1 million by 2034, holding a revenue share of 51.4%.

Hospitals are the primary users of neonatal technology. This is attributable to factors like increasing neonatal intensive care units (NICUs) in hospitals as well as the rising number of birth deliveries.

Hospitals have dedicated NICUs equipped with advanced technologies to meet the complex needs of premature and ill infants. From providing continuous monitoring, life support, and therapeutics, these devices are crucial for an infant’s survival. As a result, people are inclined towards opting for treatments at hospitals. This also helps them to minimize overall healthcare costs.

Competitive Landscape

Key manufacturers of neonatal infant care products include GE Healthcare, Koninklijke Philips N.V, Medtronic plc, Natus Medical Incorporated, Fisher & Paykel Healthcare Limited, Masimo Corporation, Becton, Dickinson and Company, Phoenix Medical Systems (P) Ltd., Natus Medical, and Novos Medical Systems.

Neonatal care relies mostly on medical technology advancements to optimize care and enhance survival. Players like Masimo, Medtronic plc, and GE Healthcare are leading the charge by launching promising new technologies with the potential to improve neonatal morbidity and mortality.

The development of new medical technologies is transforming neonatal intensive care. These new devices are easy to use, accurate, reliable, and help to meet the unique needs of the newborn population.

Several key players are also looking to introduce portable neonatal infant care technologies ideal for usage in both healthcare and home settings. Similarly, the market is witnessing acquisitions, mergers, partnerships, and agreements, making it highly competitive.

Recent Developments in the Neonatal Infant Care Market :

• In May 2023, Masimo, a prominent player in pulse oximetry and other novel noninvasive monitoring technologies, launched Stork, a cutting-edge home baby monitoring system. This novel solution allows parents to get insights into their baby’s health data. Subsequently, the company received the FDA clearance for Stork in December 2023.
• In June 2021, Medtronic introduced the SonarMed airway monitoring system, designed to help address a challenge facing newborns treated with a mechanical ventilator.
• In November 2020, Natus Medical Incorporated acquired Babybe GmbH to expand its baby care portfolio.
• In December 2020, Medtronic unveiled the Carpedium system, a new pediatric and neonatal acute dialysis machine in the United States.
• In November 2021, Masimo introduced Dual SET pulse oximetry to enhance maternal and newborn safety during childbirth and the critical first minutes of life.
• In April 2019, InnAccel introduced a portable neonatal CPAP system called SAANS. The novel solution is designed to provide breathing support to critically ill neonates with RDS (respiratory distress syndrome).

Neonatal Infant Care Market Segmentation

• By Product :

  • Thermoregulation Devices
    • Radiant Warmers
    • Neonatal Incubators
    • Neonatal Cooling Systems
  • Phototherapy Equipment
    • LED Phototherapy Unit
    • CFL Phototherapy Unit
    • Phototherapy Eye Mask
  • Monitoring Systems
    • Neonatal Ventilation
    • Brain Monitoring
    • Blood Gas Monitoring System
  • Hearing Screening
  • Vision Screening

• By End-user :

  • Hospitals
  • Pediatric and Neonatal Clinics
  • Nursing Homes

• By Region :

  • North America
  • Europe
  • Latin America
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa