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Neonatal Thermoregulation Market Size to Grow at a CAGR of 5.2% During the Forecast Period 2021-2026

(PharmaNewsWire.Com, October 28, 2021 ) Neonatal Thermoregulation market size was valued at $1,237million in 2020, and is anticipated to grow at a CAGR of 5.2% during the forecast period 2021-2026. Neonatal thermoregulation is the ability to balance heat production and heat loss to maintain steady, normal body temperature thereby hindering hypothermia, with a stable metabolic state where minimal rates of oxygen consumption or energy expenditure occur. One of the key physiologic challenges faced while maintaining a neutral thermal environment is pulmonary hypoplasia; that a newborn must face after delivery. Thermal care is central to reducing morbidity and mortality in newborns. Neonatal thermoregulation is categorized based on product into neonatal cooling systems, neonatal incubators, and warmer. The neonatal thermoregulation industry growth rate is attributed to the various government initiatives coupled with the growing awareness regarding neonates’ care which is poised in bringing new opportunities. Moreover, with the spread of COVID-19 pandemic accelerating there is advancements in neonatal and pediatric intensive care sector is aiding to the growth of stakeholders, thereby potentially raising the demand for various neonatal thermoregulation equipment’s. However, the lack of knowledge to handle and maintain the entire process cycle and transition is often expensive and sometimes lead to fatal consequences for newborns which are poised to hinder the neonatal thermoregulation market.



Neonatal Thermoregulation Market Segment Analysis - By Product Type

In 2020, on the basis of product type, neonatal incubators segment accounted for the largest segmental revenue of the neonatal thermoregulation market on account of the fact that this product type acts as a major biomedical devices that primarily provides humidity, warmth, and oxygen to the newborn in a controlled environment thereby preventing hypothermia. Moreover, this segment is projected to witness healthy growth throughout the forecast period 2021-2026 with a CAGR of 5.80% since there is an increase in the number of installations of NICU units and growth in awareness amongst individuals regarding neonatal care thereby, is to cater the sector growth in the product segment during the forecast period 2021-2026.



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Neonatal Thermoregulation Market Segment Analysis - By End Users

On the basis of end users, hospital segment accounted for the largest segmental revenue of the neonatal thermoregulation market in 2020. The large share can be attributed to the fact that these devices are most commonly used in hospitals with pediatric wards, birthing centers, and neonatal intensive care units. Apart from this, hospitals are considered as one of the major places by the manufacturers of neonatal incubators for selling their products, owing to the fact that they help in building brand image and further expanding their product reach.



On the other hand, nursing homes segment is projected to dominate over the forecast period 2021-2026 with a CAGR of 5.34%. The nursing homes segment is to witness a surge in growth owing to the prevalence of enhanced healthcare facilities coupled with the presence of specialized healthcare professionals and increase in number of new-born admissions in the nursing homes over the last decade. Furthermore, there is an increasing government focus on reducing mortality and morbidity rates of infants, which has also led the nursing homes to concentrate on increasing their productivity eventually, by adopting advanced and innovative medical devices, including neonatal incubators thereby, is anticipated to positively impact the growth of this segmental market during the forecast period 2021-2026.



Neonatal Thermoregulation Market Segment Analysis - By Geography

North America is the major region dominating the Neonatal Thermoregulation market with a market share of 37.90% in the year 2020. This can be attributed to U.S. being the epicenter for the market owing to the increasing number of preterm babies in the country followed by the presence of a well-developed healthcare infrastructure along with the production hub of key manufacturers, and the availability of advanced technologies are the factors contributing to the growth of the market in North America.



However, Asia-Pacific is projected to be the significant-growing market during the forecast period 2021-2026 owing to developing neonatal healthcare facilities in the countries of the region. Furthermore, multi-national companies are also targeting some of the countries of this region owing to the availability of raw materials at a cheaper rates coupled with favorable policies adopted by the region which is poised to propel the market growth throughout the neonatal thermoregulation market forecast period 2021-2026.



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Neonatal Thermoregulation Market Drivers

Rapid Technological Advancements

The neonatal thermoregulation market is poised to receive upswing owing to the rapid increase in demand for several neonatal thermoregulations devices owing to the fact that there is an increase in the number of premature births followed by rising prevalence of neonatal jaundice, pulmonary hypoplasia across geographies which has led in innovations that has resulted in all major manufacturing companies focusing on such innovative technological advancements.



Neonatal Thermoregulation Market Challenges

Potential Health Hazards

One of the major factors lowering the neonatal thermoregulation unit sales is owing to the potential hazards occurring in neonates on the use of the warmers which continues to be inharmonious which is hindering the market growth during the forecast period 2021-2026 as manufacturers of neonatal thermoregulation equipment are being challenge to meet these diverse standards.



Neonatal Thermoregulation Market Landscape

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the neonatal thermoregulation market. In 2020, neonatal thermoregulation market share is fragmented by the top ten players present in the market. The neonatal thermoregulation market top 10 companies are GE Healthcare, Natus Medical Incorporated, Inspiration Healthcare Group plc. Koninklijke Philips N.V., Dragerwerk AG & Co. KGaA, Fisher & Paykel Healthcare, Atom Medical Corporation, Fanem Ltda, Novos Medical Systems, Pluss Advanced Technologies Pvt. Ltd., Weyer GmbH, Baby Bloom Healthcare BV and others.



Acquisitions/Product Launches

In November 2020, Natus Medical Incorporated announced the acquisition of Babybe GmbH and its patented remote mother to baby communication technology. The Babybe technology will add to Natus’s market leading Newborn Care portfolio of products.



Key Takeaways

Geographically, North America region held the highest market share in 2020 owing to the increasing number of preterm babies in the region.

The factors such as rising advancements in neonatal and pediatric intensive care sector owing to rise in incidence of COVID-19 pandemic are amongst the major factor projected to impel growth of neonatal thermoregulation market.

Additionally, factors such as improved design and distinct benefits of neonatal thermoregulations over the conventional ones are to create opportunities paving a way for the growth in the market during forecast period 2021-2026.



Related Reports:



A. Neonatal (Preterm) Infant Care Market

https://www.industryarc.com/Research/Neonatal-Market-Research-501409



B. Incubator Devices Market

https://www.industryarc.com/Research/Incubator-Devices-Market-Research-509759



For more Lifesciences and Healthcare Market reports, please click here



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IndustryARC

Venkat Reddy

(+1) 970-236-3677

venkat@industryarc.com

Source: EmailWire.Com

Source: EmailWire.com


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