Market Analysis
The Neonatal Thermoregulation Market is expected to reach USD 23802.0 Million by 2030 at 9.50% CAGR during the forecast period 2022-2030. Thermoregulation simply put, is the ability of creating equilibrium amid heat loss and heat production for maintaining body temperature in a specific normal range. Having a thermoneutral environment is a crucial component of both the long-term and immediate care of a newborn infant. Following the increase in the birth rates, the equipment utilized for monitoring the baby and also for blood sampling is increasing steadily. Smart and technically advanced incubators are being manufactured more and more by the companies to offer babies protection against infection, noise, cold temperature, maintain fluid balance, administration of medicines and to offer oxygenation. In case of neonates, thermoregulation is influenced strongly by a couple of factors namely extent of illness, physical immaturity and other forms of environmental factors.
There are abundant factors that is propelling the growth of the neonatal thermoregulation market. These factors as per the MRFR (Market Research Future) report include increasing use for monitoring the baby and blood sampling, increase in birth rates all across the world that is boosting the demand for neonatal thermoregulation, advancement of technology in medical devices and increasing occurrence of diseases in neonates. On the contrary, possible side-effects on neonates and stringent regulation made by the government for product approval are factors that may deter the growth of the neonatal thermoregulation market over the assessment period.
Market Segmentation
MRFR report offers a broad segmental analysis of the neonatal thermoregulation market on the basis product type, end user and modality.
Based on product type, the neonatal thermoregulation market is segmented into neonatal cooling systems, neonatal incubators and warmer. The warmer segment is further segmented into wall mount warmer and radiant warmers. The neonatal incubators are further segmented into transport incubator and intensive care incubator. Of these, neonatal incubators will have a major share in the market over the assessment period.
Based on modality, the neonatal thermoregulation market is segmented into closed and open.
Based on end-user, the neonatal thermoregulation market is segmented into nursing homes, neonatal intensive care units (ICU), pediatric intensive care units, hospitals and others. Of these, hospitals will dominate the market over the assessment period.
Regional Analysis
By region, the neonatal thermoregulation market covers growth opportunities and latest trends across Americas, Europe, Asia Pacific and Middle East and Africa. Of these, the Americas will have an edge over others in the market over the assessment period due to the presence of a healthcare sector that is well-developed. The involvement of the government to spread awareness regarding neonatal diseases is propelling the market growth in this region. The US government for instance has programs such as Heritable Disorders Program and Screening Quality Assurance Programs at HRSA (Health Resources and Service Administration). Such programs and initiatives undertaken by the government and also non-government organizations is driving the market growth here. The neonatal thermoregulation market in Europe will have the second major share owing to accessibility of funds for research. In the APAC region, the neonatal thermoregulation market is anticipated to grow at the fastest pace over the assessment period owing to constantly developing economies and huge patient population. On the other hand, the neonatal thermoregulation market in the Middle East and Africa will have minimal share over the assessment period.
Key Players
profiled in the neonatal thermoregulation market players include Novos Medical Systems, Fanem Ltd, Atom Medical Corporation, International Biomedical, Ltd., Fisher & Paykel Healthcare, KGaA, Drägerwerk AG & Co., Inspiration Healthcare Group plc, Natus Medical Incorporated, GENERAL ELECTRIC COMPANY, Koninklijke Philips N.V. and others.
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