The global neonatal thermoregulation market is estimated at USD 661.8 million in 2023. The market is projected to reach USD 1,151.6 million by 2033, exhibiting a CAGR of 5.7% from 2023 to 2033.
Growing awareness regarding neonatal care has been fuelling the sales of neonatal thermoregulation equipment suppliers around the world for the past decade, while the rise in demand from the hospitals sector is further catering to it.
Despite getting temporarily declined during the outbreak of the deadly COVID-19 pandemic in 2020, the industry players are gaining momentum again with the steady recovery in key end-use sectors.
The latest revised report on the neonatal thermoregulation market by Future Market Insights (FMI) provides a detailed analysis of the global industry, growth & restraining factors, and demand-supply patterns during the forecast period of 2023 to 2033.
Future Market Insights anticipates that suppliers and manufacturers will target the leading regions such as North America, Europe, and Asia Pacific, while China, India, the United States, Japan, and a few others countries will remain highly lucrative throughout the forecast period.
| Attributes | Details |
|---|---|
| Neonatal Thermoregulation Market Value (2022) | USD 627 million |
| Neonatal Thermoregulation Market Value (2023) | USD 661.8 million |
| Neonatal Thermoregulation Market Expected Value (2033) | USD 1,151.6 million |
| Neonatal Thermoregulation Market Projected CAGR (2023 to 2033) | 5.7% |
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regarding neonates’ care has bolstered the growth of the neonatal thermoregulation industry in the past years. With the increase in birth rates, equipment required for newborns’ monitoring, and caring grew substantially over the past decade apart from facing temporary restraints due to the pandemic outbreak in 2020.
According to FMI, the overall industry outlook remained positive for neonatal thermoregulation equipment suppliers during the last 5 years from 2018 to 2022.
Requirement for proper thermoregulation to ensure newborns’ health and well-being is getting prominence in the hospital sector. Additionally, advancements in the neonatal and pediatric intensive care sectors are aiding the growth of stakeholders. According to FMI, the global neonatal thermoregulation industry is predicted to expand at over 5.7% CAGR through 2033.
Requirement for proper thermoregulation in order to ensure newborns’ health and wellbeing is getting prominence in hospitals sector. Additionally, advancements in neonatal and paediatric intensive care sector is aiding to the growth of stakeholders.
Neonatal thermoregulation solution is highly sought-after in hospitals industry in preventing heat loss and providing a stable thermal environment for neonates and infants. As a result, demand for neonatal thermoregulation equipment is growing fast from hospitals sector.
According to the report titled “Medical Technology Industry Spotlight” published by the SelectUSA, the United States is the largest hospital and medical devices industry in the world valued at USD 156 Billion, which is 40% of the global industry as in 2017.
As per the report, the United States hospitals and medical devices industry is forecast to reach US 208 billion by 2023. These figures give a glimpse of the growing opportunities for neonatal thermoregulation equipment providers around the globe.
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Despite playing an integral part in neonatal health and care, neonatal thermoregulation equipment suppliers often come across various restraining factors such as-
United State to Dominate the North American Market
The United States is the hotspot for neonatal thermoregulation industry players, being in the epicenter of the world’s largest industry North America. Highly advanced healthcare industry and rising awareness regarding deaths of newborns are boosting the growth of neonatal thermoregulation companies in the United States.
According to the report titled “Infant Mortality in the United States” published by the National Centre for Biotechnology Information (NCBI), the United States infant mortality rate was 5.79 infant deaths per 1,000 live births in 2017, not much different from the rate of 5.87 in 2016.
As per the report, the neonatal and post neonatal mortality rates for 2017 were 3.85 and 1.94 respectively, which were unchanged as compared with 2016. Such reports are boosting the awareness regarding neonatal healthcare, which in turn is fuelling the sales of neonatal thermoregulation equipment suppliers. The United States held a share of 18% in 2022.
High Expenditure to Lead to Major Market Growth in Germany
Germany has been contributing significantly to the demand growth in Europe neonatal thermoregulation industry, being in the focal point for stakeholders. Backed by the highly advanced manufacturing hubs and technically advanced hospitals sector, Germany is highly sought-after for neonatal thermoregulation manufactures.
As stated in the report titled “Healthcare Expenditure Statistics” published by the European Commission (EC), among the European Union (EU) member states, France, Germany, and Sweden had the highest healthcare expenditure relative to Gross Domestic Product (GDP) in 2017 (between 11.0% and 11.3%). This indirectly refers to the lucrative growth scope for neonatal thermoregulation industry players in Germany. Germany market is expected to grow at a CAGR of 3.7% over the coming decades.
China to Dominate the Asia Pacific Market
China is dominating in Asia Pacific neonatal thermoregulation industry and subject to exhibit hegemony during the forecast period. Increase in focus to reduce neonates’ mortality rate and governmental investments in healthcare and medical devices industry are spurring the growth of neonatal thermoregulation equipment suppliers in China.
As per the report titled “Neonatal Mortality in Hospitalized Chinese Population” published by the NCBI in 2019, in China, the mortality in neonates with a gestational age of 28-32 weeks (0.5.7%) was significantly higher than that of < 28 weeks, 32-37 weeks, 37-42 weeks, and >42 weeks as in 2019.
The report also stated that the neonatal mortality in Eastern China was lower than that of the Central and Western China, while the major causes of neonatal deaths included asphyxia, respiratory distress syndrome, and infection.
These data explain well why suppliers of neonatal thermoregulation equipment are targeting China in order to excel in this field. China market is expected to grow at a CAGR of 6.3% over the coming decades.
Japan to Take the Limelight in the Industry
Japan has taken the limelight of neonatal thermoregulation equipment manufacturers due to having technically advanced paediatric and neonatal healthcare and intensive care sector and highly developed manufacturing infrastructure.
According to the report titled “Japan- Healthcare IT” published by the Japan Country Commercial Guide on 9th June, 2019, Japan continues to rank among the top export prospects according to the United States Department of Commerce’s Health IT top market report.
As stated in the report titled “Utilizing Artificial Intelligence (AI) in Healthcare Sector”, published by the Ministry of Health, Labor and Welfare’s artificial intelligence advisory panel in June, 2017, various new innovations and technologies including AI are being adopted in healthcare sector. This gives an idea regarding the new opportunities awaiting for neonatal thermoregulation industry players in Japan.
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Highly efficient in controlling and maintaining proper temperature to Boost up The Segment Growth
Presently, various types of warmer such as radiant warmers and wall mount warmers are highly sought-after in the global neonatal thermoregulation industry. According to FMI, these segments will sustain in the positions in terms of product type, owing to have various exclusive properties such as-
Other key segments in terms of product type, which are catering to the growth of suppliers, are neonatal incubators and neonatal cooling systems.
High adoption of Open Modality Segment by Healthcare Professionals to Spur Market Growth
Currently, open modality is highly preferred by manufacturers as well as healthcare professionals in the neonatal thermoregulation industry. This type of modality is highly demanded owing to its various advantages such as-
As a result, the demand for neonatal thermo-regulators with open modality is forecast to rise further in the near future.
With the competition getting stricter each passing year, key industry players are emphasizing on bringing in diverse range of neonatal thermoregulation devices and equipment.
Some of the key players supplying neonatal thermoregulation equipment are-
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Key Regions Covered |
North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, India, Malaysia, Singapore, Thailand, China, Japan, South Korea, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Segments Covered |
Product Type, Modality, End User, Region |
| Key Companies Profiled |
GE Healthcare; Natus Medical Incorporated; Inspiration Healthcare Group Plc.; Koninklijke Philips N.V.; Dragerwerk AG & Co. KGaA; Fisher & Paykel Healthcare; International Biomedical, Ltd.; Atom Medical Corporation; Fanem Ltda; Novos Medical Systems; Pluss Advanced Technologies Pvt. Ltd.; Weyer GmbH |
| Customization & Pricing | Available upon Request |
The market is expected to reach USD 661.8 million in 2023.
The market is anticipated to expand at a CAGR of 5.7%.
Upsurging awareness about neonatal care is yielding market expansion.
Costly installation and lack of expertise in handling the equipment are major factors pulling back the market growth.
Innovations in pediatric intensive care sector is a running trend in the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Warmer 5.1.1. Radiant Warmer 5.1.2. Wall Mount Warmer 5.2. Neonatal Incubators 5.2.1. Intensive Care Incubator 5.2.2. Transport Incubator 5.3. Neonatal Cooling Systems 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Modality 6.1. Open 6.2. Close 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 7.1. Hospitals 7.2. Paediatric and Neonatal 7.2.1. Intensive Care Units 7.3. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. GE Healthcare 18.2. Natus Medical Incorporated 18.3. Inspiration Healthcare Group Plc. 18.4. Koninklijke Philips N.V. 18.5. Dragerwerk AG & Co. KGaA 18.6. Fisher & Paykel Healthcare 18.7. International Biomedical, Ltd. 18.8. Atom Medical Corporation 18.9. Fanem Ltda 18.10. Novos Medical Systems 18.11. Pluss Advanced Technologies Pvt. Ltd. 18.12. Weyer GmbH 19. Assumptions & Acronyms Used 20. Research Methodology
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Neonatal Thermoregulation Market
