The worldwide Neonatal Thermoregulation Market is assessed at US$ 661.8 million of 2023. The market is projected to arrive at US$ 1,151.6 million by 2033, showing a CAGR of 5.7% from 2023 to 2033.
With improved neonatal monitoring systems gaining popularity, the Neonatal Thermoregulation Market has stolen the spotlight in the healthcare sector. Furthermore, the increase in the number of paediatric clinics and neonatal critical care units, combined with innovative inventions by industry participants, is opening up new opportunities for demand development.
While the COVID-19 pandemic had an impact on industry output and demand-supply patterns, various macroeconomic factors such as increased governmental investments in healthcare sectors, advances in medical technology, and an increase in per capita health expenditure are expected to fuel sales in the post-pandemic years.
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The latest revised report on the ‘Neonatal Thermoregulation’ market study by Future Market Insights (FMI) offers an exhaustive overview of the global industry while emphasizing on the crucial growth & restraining factors, and demand-supply trajectories across 20+ countries during the forecast period of 2021 to 2031.
Key Takeaways from Market Study
- The global Neonatal Thermoregulation industry is expected to grow at a CAGR of more than 4% through 2031.
- High demand for radiant and wall-mounted heaters will drive demand growth.
- In terms of modality, the closed segment is expected to have strong demand.
- Demand in the hospital sector to fuel sales
- The United States continues to be the epicentre of the Neonatal Thermoregulation sector in North America, with Germany remaining at the vanguard of the world’s second largest Neonatal Thermoregulation industry in Europe.
- During the predicted period, Asia Pacific emerges as the fastest expanding region.
- For stakeholders, China, Japan, India, the United Kingdom, France, Italy, Canada, and a few other nations will remain in the spotlight.
“With the growing focus on reducing morbidity and mortality in newborns, Neonatal Thermoregulation industry is projected to gain further momentum. Furthermore, increase in number of pediatric & neonatal intensive care units is subject to cater to the demand growth in the near future,” says an FMI analyst.
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How is the Increase in Awareness Regarding Newborn Mortality Rates Propelling the Growth?
Thermoregulation plays a very crucial role in balancing heat production and heat loss in order to maintain body temperature of newborns within a certain normal range. As not maintaining proper body temperature can be fatal for newborns, demand for Neonatal Thermoregulation is getting prominent in hospitals and neonatal intensive care units.
For instance, neonatal hyperthermia may occur if proper thermoregulation is not done for a newborn. In this condition, the newborn’s body temperature drops below 36.5 degree Celsius and progressive reduction in body temperature may lead to adverse clinical effects ranging from metabolic stress to death. According to the report titled “Newborns: Improving Survival and Well-Being” published by the World Health Organization (WHO) on 19th September, 2020, globally 2.4 million neonates died in 2019, while approximately 7000 newborn die every day amounting to 47% of all child deaths under the age of 5 years. Such reports are helping in spreading awareness which in turn is favoring Neonatal Thermoregulation equipment suppliers.
Who is Winning in this Space?
The global Neonatal Thermoregulation industry provides with highly competitive environment for key players. In order to leverage the new opportunities, key players are developing advanced and wider range of products.
For instance,
- General Electric Company launched its new Corometrix 250 cx Series, Corometrics 170 Series Fetal Monitor and Mini Telemetry System, and others during the last 5 years
- Natus Medical Incorporated announced the acquisition of Innovative Newborn Care Technology in November, 2020 in order to increase its sales footprint
Some of the key players supplying neonatal thermoregulation equipment are-
- GE Healthcare
- Natus Medical Incorporated
- Inspiration Healthcare Group Plc.
- Koninklijke Philips N.V.
- Dragerwerk AG & Co. KGaA
- Fisher & Paykel Healthcare
- International Biomedical, Ltd
- Others
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Market Segmentation by Category
Product Type
- Warmer
- Radiant Warmer
- Wall Mount Warmer
- Neonatal Incubators
- Intensive Care Incubator
- Hybrid Incubator
- Selective Close Care Incubators
- Transport Incubator
- Intensive Care Incubator
- Neonatal Cooling Systems
Modality
- Open
- Close
End User
- Hospitals
- Paediatric and Neonatal
- Intensive Care Units
- Others
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