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The neonatal care market is at a juncture where the rate of innovation in devices is much lower, resulting in flat prices and mid-single digit market growth, largely driven by replacement sales. This is especially true for phototherapy units and some respiration assistance devices. However, with increasing demand to provide cost effective care and predict neonatal health, trends such as predictive analytics, multi-parameter analysis and wireless capabilities have provided a new direction to the classical incubator or neonatal monitor. Since decades, neonatal care devices such as incubators, ventilators and cooling devices to manage birth asphyxia have been high cost models that have prevented smaller hospitals and low-resource settings to be able to provide access in proportion to the demand of neonatal care. However, as traditional markets like North America and Europe saturate and get driven purely on replacement, growth potential in markets in the Asia-Pacific region remains high.
Access to quality neonatal care is a concern currently limiting growth of the market in low-resource regions. in neonatal care is that it is still not available in all parts of the world, leading to a disparity in neonatal survival rates. As an example, neonatal cooling devices are still cost prohibitive in most hospitals in South-East Asia, preventing adequate management of birth asphyxia. However. this is expected to get addressed with start-ups, aiming to reduce cost, improve last mile care and develop solutions that can overcome logistic hindrances to provide care to neonates born in remote locations or displaced population. The landscape has been dominated by multinationals who have been key market participants since decades with challenges posed by local players offering comparable solutions at competitive prices.
Technologies such as phase change materials are being evaluated to develop thermoregulation solutions that are affordable to install and inexpensive to operate and maintain. Wearables are also expected to disrupt the neonatal monitoring space, by providing less bulky, low-cost solutions. Low-cost resuscitation technology, while increasing availability of care also creates a room for errors in ventilation and air pressure. Companies have an opportunity to develop cost-effective platforms that can improve last mile connectivity and improve global neonate health outcomes.
This study provides an overview of the neonatal care market opportunity, in terms of hard numbers, unmet needs and game changing strategies. The report provides 5-year forecasts for revenue and units shipped YoY as well as market share of companies participating in the landscape.
Key Questions this will answer:
• How large is the market for neonatal care devices in North America, Europe and Asia Pacific? What are some of the trends that are shaping up the market and will likely affect market growth?
• Who are the players in this ecosystem, which are the key companies to watch? What companies/start-ups are expected to disrupt the ecosystem?
• What features would the neonatal care devices of the future have? What strategies would companies have to adopt to meet the future needs of the industry?
• Who are the players in this ecosystem, which are the key companies to watch? What companies/start-ups are expected to address inadequate neonatal care in low-resource settings?
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