Anticipated to close at US$ 345.3 million in 2023, the global infant incubators market is poised for continued growth with a projected 4.5% compound annual growth rate (CAGR) from 2023 to 2033, ultimately reaching an estimated valuation of US$ 538 million by 2033. In 2022, intensive care incubators took the lead by-product, commanding a significant market share of approximately 71.6%.
Neonatal incubators provide a controlled environment for the treatment of newborns, characterized by a rigid box-like structure equipped with essential medical components. These include an AC-powered heater, a fan for efficient air circulation, a fluid reservoir for moisture control, a valve for oxygen administration, and accessible ports for nursing care.
The global infant incubators market is growing due to increased awareness regarding the health of newborns, the rising prevalence of chronic infections, and surging cases of sudden unexpected deaths among infants in healthcare facilities. Additionally, the emergence of numerous epidemics and the looming health risks they pose have further increased the demand for intensive care incubators across all healthcare facilities, thereby promoting market expansion.
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Besides, the growing acceptance of infant incubators by various end users, including hospitals, as well as pediatric & neonatal intensive care units, would give the market a boost in the approaching years. The U.S. healthcare sector has been focusing on the importance of collaborative strategies by government bodies, which would boost the advancement in healthcare facilities. The CDC and the March of Dimes to assist state-based PQCs in improving maternal and infant health outcomes statewide in a measurable manner, for instance, established the National Network of Perinatal Quality Collaboratives (NNPQC).
These aforementioned factors will boost the market in the near future, as key companies are also concentrating on acquisitions and the development of novel products with improved efficacy in terms of environmental stability, infection protection, and durability.
Key Takeaways from the Market Study
- By product, the intensive care incubators segment held approximately 3% of the global market share in 2021.
- Based on end users, the hospital segment generated a market share of around 7% in 2021.
- East Asia is considered to be the leading region in the market and it held a share of 3% in 2021.
- Europe accounted for a value share of 7% in 2021 owing to the increasing number of preterm births in the region.
- China is projected to exhibit growth at a lucrative CAGR of 8 during the forecast period.
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“Increased initiatives by government bodies to promote health safety solutions and growing prevalence of chronic illnesses among infants in healthcare facilities are estimated to propel the market,” says an analyst of Future Market Insights.
Competitive Landscape
Although infant incubator producers are functioning at full capacity, demand has surpassed supply in recent years with the rising prevalence of chronic illnesses. The gap has had an impact on a wide range of end users, including healthcare practitioners and other industrial users.
The global infant incubators market is fragmented, and there are a wide range of regional, up-and-coming, as well as established businesses operating within it. Key stakeholders have started conducting promotional activities to introduce unique infant incubators with improved efficacy.
For instance,
- In April 2022, nearly two hundred portable incubators that were developed by utilizing technology co-invented by a Stanford MBA more than 10 years ago, were sent to Ukraine to offer life-saving warmth to babies born prematurely in hospitals and bomb shelters.
- Dräger’s new Ponta and Ambia ceiling supply systems, which went into effect on September 30, 2021, give hospitals a great deal of flexibility when designing workstations that support particular clinical requirements in the operating room, ICU, and NICU.
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What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the Infant incubator market in its latest study, presenting a historical demand assessment of 2012 – 2021 and projections for 2022 – 2032. The global infant incubators market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on the product (intensive care incubator, and transport incubator), end users (hospitals, pediatric and neonatal intensive care units, others), across seven key regions of the world.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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