LONDON, Feb. 22, 2017 /PRNewswire/ -- KEY FINDINGS
The global market for Fetal & Neonatal Care equipment is anticipated to grow at an approximate CAGR of 5.7% between 2017 and 2027. Premature rupture of membranes, an increase in the number of caesarean child births and emergency events leads to the rise in the number of premature births. The acceleration in the requirement for Fetal & Neonatal Care equipment market is due to increasing premature births.
The Fetal and Neonatal care equipment market is categorized based on Product and Geography. The Product market is segmented into NICU equipment, Labor and Delivery and Other NICU and Labor & Delivery equipment. The market on the basis of Geography is segmented into North America, Europe, Asia-Pacific, and Rest of the world.
The rise in fertility rate besides the increase in the birth rate and preterm birth rate and minimally invasive surgery techniques are dominant drivers for the growth of Fetal & Neonatal Care equipment market. The technological advancements that enable the demands for prenatal therapeutics, monitoring devices and diagnostics also propel the market growth. Major companies are involving R&D for development of new technologies for the treatment of infants and to boost the market. With an upsurge in the R&D, the healthcare expenditures are increasing simultaneously with an increase in the prices of healthcare products and services.
North America accounts for largest market share in the global Fetal and Neonatal care equipment market and is anticipated to dominate the market during the forecast period as well. The availability of advanced technology and high disposable income are the primary factors driving the market growth in North America. Europe Fetal and Neonatal market accounts for second largest market share and is projected to grow during the forecast period. APAC Fetal and Neonatal market is rapidly growing and is anticipated to grow at a high CAGR during the forecast period.
The dominant market players in the Fetal and Neonatal market are GE Healthcare, Getinge AB, Siemens Healthcare GMBH, Analogic Corporation, Medtronic.Inc, Philips Healthcare, and International Biomedical. The R&D is carried out by these major companies for the contribution of transformational medical services and technologies across the globe.
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