The global neonatal thermoregulation market is poised for significant growth, with its valuation projected to rise from USD 661.8 million in 2023 to USD 1,151.6 million by 2033, reflecting a CAGR of 5.7% over the forecast period. This steady growth is attributed to increasing awareness of neonatal care and rising demand for advanced thermoregulation equipment in hospitals worldwide.
Key Market Drivers: Rising Demand for Neonatal Care Solutions
Heightened focus on neonatal health, driven by awareness campaigns and advancements in medical care, has boosted the adoption of thermoregulation equipment. These devices, critical for maintaining optimal temperature in newborns, are essential in addressing complications such as hypothermia. The hospital sector, in particular, remains a key driver of demand, as healthcare facilities prioritize state-of-the-art solutions for neonatal care.
Recovery from COVID-19 Pandemic Fuels Momentum
While the market experienced a temporary setback during the COVID-19 pandemic due to disruptions in healthcare supply chains, it has since recovered, driven by renewed investments in neonatal care. As key end-use sectors regain momentum, industry players are witnessing a surge in demand for thermoregulation equipment.
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Key Takeaways
- The neonatal thermoregulation market is projected to grow at a CAGR of 5.7% from 2023 to 2033.
- Valuation is expected to rise from USD 661.8 million in 2023 to USD 1,151.6 million by 2033.
- Increased awareness of neonatal health and advancements in care solutions drive market growth.
- Hospitals remain the largest end-use sector, driving demand for advanced thermoregulation equipment.
- The industry is recovering steadily from pandemic-related disruptions, regaining growth momentum.
The neonatal thermoregulation market’s growth trajectory underscores its vital role in improving newborn health outcomes, reflecting the healthcare sector’s commitment to advancing neonatal care solutions worldwide.
Growth Drivers
- Growing Awareness Regarding Neonatal Care: Increased awareness about the importance of proper thermoregulation in neonatal care has fueled demand for thermoregulation equipment, which is critical for maintaining the health and well-being of newborns.
- Rising Demand from Hospitals: The healthcare sector, particularly hospitals and neonatal intensive care units (NICUs), is increasingly investing in advanced thermoregulation solutions to prevent heat loss and provide stable thermal environments for infants.
- Recovery Post-COVID-19 Pandemic: After a temporary decline during the COVID-19 pandemic, the market is regaining momentum as healthcare facilities resume normal operations and focus on enhancing neonatal care.
- Technological Advancements: Innovations in thermoregulation devices, such as improved incubators and warming systems, are enhancing their effectiveness and ease of use, further driving market growth.
- Increase in Birth Rates: Higher birth rates globally contribute to an increased need for neonatal care solutions, including thermoregulation equipment.
Regional Insights
- The United States is expected to dominate the market due to its advanced healthcare infrastructure and high awareness regarding neonatal health issues.
- Other regions such as Europe and the Asia-Pacific are also anticipated to experience significant growth driven by increasing healthcare investments and rising awareness of neonatal care.
Competitive Landscape
With the competition getting stricter each passing year, key industry players are emphasizing on bringing in diverse range of neonatal thermoregulation devices and equipment.
- Inspiration Healthcare Group Plc. launched its new Tecotherm Neo., INSPIRE NCPAP™, and others during the last 5 years.
- Atom Medical Corporation launched its new Incu i, Transport Incubator, Infant Warmer, and others a couple of years back.
- GE Healthcare created a Giraffe Incubator Carestation in April 2022. The Giraffe Carestation is a cutting-edge neonatal facility aimed at encouraging natural and calm healing. It strengthens the family’s bond with the infant, permitting them to be present at each phase.
- Natus Medical Incorporated, an established supplier of medical device approaches for the assessment, treatment, and diagnosis of conditions impacting the brain, neural circuits, and eight sensory systems of the brain, disclosed in April 2022 that it had signed into a definitive contract to be obtained by a Natus Medical Incorporated subsidiary. ArchiMed is a healthcare-focused startup with a $1.2 billion valuation.
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.
- Atom Medical Corporation
- Fanem Ltda
- Novos Medical Systems
- Pluss Advanced Technologies Pvt. Ltd.
- Weyer GmbH
Key Segments Profiled in the Neonatal Thermoregulation Industry Survey
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
Region:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
Author By:
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.
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