The global infant incubators market is set to achieve a valuation of USD 345.3 million in 2023, with expectations to grow at a compound annual growth rate (CAGR) of 4.5% over the next decade. By 2033, the market is projected to reach approximately USD 538 million.
Intensive care incubators have emerged as the leading product segment, capturing about 71.6% of the market share in 2022. This significant share highlights their critical role in providing essential care for premature and critically ill infants.
The growth of the infant incubators market is driven by advancements in neonatal care technology and increasing awareness of the importance of specialized care for newborns. As the healthcare sector continues to focus on improving neonatal outcomes, the demand for advanced incubators is expected to rise, further propelling market expansion.
The surge in the Global Infant incubator industry is driven by a heightened awareness regarding newborn health, an increase in the prevalence of chronic infections, and a rise in cases of sudden unexpected deaths among infants in healthcare facilities. Moreover, the ongoing emergence of various epidemics and the associated health risks have further amplified the demand for intensive care incubators across healthcare facilities worldwide, facilitating market expansion.
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 of 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 shortly, 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 Infant Incubators 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.
“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 Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Infant Incubators Market 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 is 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.
Key Segments:
By Product:
- Intensive Care
- Transport
By End User:
- Hospitals
- Pediatric and Neonatal Intensive Care Units
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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 is 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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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