Market Highlights:
It is estimated that the Global Neonatal Thermoregulation Market is expected to hold a market value of USD 500 million and register a CAGR ~ 5.0 % during the forecast period of 2018–2023. Thermoregulation is the ability to create equilibrium between heat production and heat loss in order to maintain body temperature within a certain normal range. The provision of a thermoneutral environment is an essential component of the immediate and long-term care of newborn infants. With the surge in the birth rates of newborns, the equipment used for blood sampling and monitoring the baby is steadily increasing. According to a data published by the Centers for Disease Control and Prevention in January 2017, there were 3,945,875 births in the US in 2017. This means birth rate in US in 2017 was 12.2 per 1000 population. Moreover, rising prevalence of diseases in neonates fuels the growth of the market. However, stringent government regulation for product approval and possible side-effects for the neonates may hamper the market growth during the assessment period.
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The global neonatal thermoregulation market is currently
dominated by many market players. The key players in the market are engaged in
new product launches and strategic collaborations to strengthen its market position.
For instance, in November 2016, Drägerwerk AG & Co. KGaA introduced
IncuWarmer Babyleo TN500 which offers optimal thermoregulation in open care,
closed care and transition to the premature baby.
Regional Analysis:
The Americas is anticipated to dominate the global
neonatal thermoregulation market owing to a well-developed healthcare sector,
and rising prevalence of diseases. The involvement of government in creating
awareness about the neonatal diseases also fuels the growth of the market. For instance,
US government has programs like Screening Quality Assurance Programs and
Heritable Disorders Program at Health Resources and Service Administration
(HRSA). Thus, such initiatives and programs by the government as well as
non-government organizations support the market growth. Europe is expected to
hold the second largest position in the global neonatal thermoregulation
market. The market growth in this region is attributed to the availability of
funds for research. Asia-Pacific is anticipated to be the fastest growing
region in the market due to the presence of a huge patient population, and
continuously developing economies, According to a report published by the
International Journal of Social and Developmental Concerns in October 2017, in
Malaysia, growth of the public primary as well as secondary care facilities has
decreased in the past few years and it has not kept pace with the rapid
urbanization. Thus, such factors restraint the growth of the market in this
region. On the other hand, the Middle East & Africa has the least share of
the market.
Segmentation:
The Global Neonatal
Thermoregulation Market has been segmented into product type, modality,
end-user, and region.The market, on the basis of product type, has been
segmented into warmer, neonatal incubators, and neonatal cooling systems.The
market, based on warmer, has been further segmented into radiant warmers and
wall mount warmer.
The market, by neonatal incubators, has been
sub-segmented into intensive care incubator and transport incubator.The market,
by modality, has been segmented into open and closed.The market, by end-user,
has been segmented into hospitals, pediatric and neonatal intensive care units,
nursing homes, and others.
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Key Players:
Some of the key players in the global neonatal
thermoregulation market are Koninklijke Philips N.V., GENERAL ELECTRIC COMPANY,
Natus Medical Incorporated, Inspiration Healthcare Group plc., , Drägerwerk AG
& Co. KGaA, Fisher & Paykel Healthcare, International Biomedical, Ltd.,
Atom Medical Corporation, Fanem Ltd, and Novos Medical Systems.
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