LONDON, April 21, 2015 /PRNewswire/ -- The saturated European market for infant care solutions has received fresh impetus from the rising incidence of preterm births. This trend is not only fuelling the demand for neonatal intensive care unit (NICU) devices but also skilled and trained professionals to operate these devices.
New analysis from Frost & Sullivan, Analysis of the Western European Infant Care Solutions Market, finds that the market earned revenues of $151.5 million in 2014 and estimates this to reach $177.5 million in 2018.
For complimentary access to more information on this research, please visit: http://corpcom.frost.com/forms/EU_PR_AZanchi_MA43_09April15
Research indicates that birth before 37 weeks is the leading cause of infant mortality across the globe, accounting for an estimated 1.1 million deaths per year. The largest rise in preterm birth rates in Europe per year since 1990 was registered in Belgium (2.5 percent), Spain (2.2 percent), France (1.6 percent) and the UK (1.5 percent).
"While governments across Western Europe are reacting to these escalating numbers through initiatives to deliver better facilities, the cost cuts rolled out by governments to make solutions affordable have narrowed manufacturers' margins," said Frost & Sullivan Healthcare Research Analyst Akanksha Joshi. "Additionally, the ongoing consolidation of hospitals in Europe due to budgetary constraints has compelled the merged hospitals to share designated NICUs and delivery beds."
Various non-profit organizations along with the governments are attempting to offset the effect of consolidation by funding the hospitals to increase the number of cots and staff in the NICUs. On the technology front, vendors are likely to introduce patient-friendly, innovative devices of high quality that are also cost-effective. These adaptable technologies will reduce the time of treatment, thus reducing patients' stay in hospitals and ultimately, cost of care.
Leading market participants often bundle products and offer heavy discounts. There is a substantial market for combined devices, especially for infant incubators with radiant warmers, phototherapy systems with radiant warmers, and transport incubators with the capabilities of a mobile NICU.
"Hospitals are demanding technologically improved and sophisticated devices, which include hybrid warming devices that can be configured as open or closed incubators, and double-walled incubators," noted Joshi. "Overall, devices that are adaptable and flexible will gain traction in the Western European market for infant care solutions."
Analysis of the Western European Infant Care Solutions Market is part of the Advanced Medical Technologies Growth Partnership Service program. Frost & Sullivan's related studies include: Western European Percutaneous Coronary Intervention (PCI) Devices Market, Technology Trends in Cardiac Imaging, Advanced Visualisation Solutions Market in Western Europe, and Global Orthopaedic Implant Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
SOURCE Frost & Sullivan