At 6.7% CAGR, the Europe Neonatal Care Equipment Market is projected to be worth US$ 890.74 Million by 2028, says Business Market Insights

According to Business Market Insights’ research, the Europe neonatal care equipment market was valued at US$ 603.06 million in 2022 and is expected to reach US$ 890.74 million by 2028, registering an annual growth rate of 6.7% from 2022 to 2028. Rising number of premature and low weight births and surge in number of NICU admission are the critical factors attributed to the market expansion.    

The increase in preterm and low-weight births is one of the major factors driving the growth of the fetal and neonatal care devices market. With the increasing number of births, many complications are associated with prematurity, resulting in neonatal deaths. Prematurity is defined as a live birth before 37 weeks of gestation, with a birth weight of less than 2500 g being considered a low weight birth.

Preterm birth remains a significant public health problem, contributing to 75% of neonatal mortality. Low birth weight (LBW) is an important but imperfect surrogate for preterm birth when the accurate determination of gestational age is impossible. While there is overlap between preterm births and LBW newborns, those who are both preterm and LBW are at the highest risk for adverse neonatal outcomes. The preterm birth rate in low-income countries was around 12%, compared to 9% in higher-income countries. The increasing prevalence of hypothermia in preterm infants is a significant public health concern. The World Health Organization reported it as a leading cause of neonatal mortality and morbidity. Common causes of premature birth are infections, chronic diseases such as high blood pressure and diabetes, and multiple pregnancies; however, often, no cause is identified. Therefore, the increasing number of preterm births and increased survival concerns are fueling the demand for neonatal care equipment to manage the complications associated with preterm birth.

On the contrary, decreasing birth rates and high prices of products hurdles the growth of Europe neonatal care equipment market.

The Europe neonatal care equipment market, based on product, is categorized into infant warmers, convertible warmers & incubators, neonatal diagnostic imaging devices, neonatal respiratory care devices, neonatal monitoring devices, neonatal incubators, neonatal phototherapy equipment, and other products. The neonatal respiratory care devices segment is likely to hold the largest share of the market in 2022. It held 26.1% market share in 2022, amassing US$ 157.41 million. It is projected to garner US$ 239.19 million by 2028 to expand at 7.2% CAGR during 2022–2028.  

The Europe neonatal care equipment market, by end user, is fragmented into hospitals, paediatric & neonatal clinics, and nursing homes. With 46.3% share of the domain the hospitals segment segment dominated the market in 2022. It accrued US$ 278.96 million in 2022 and is estimated to generate US$ 415.81 million by 2028 to grow at a CAGR of 6.9% over the forecast period.

Our regional analysis states that Germany captured 26.9% market share in 2022. It was assessed at US$ 162.38 million in 2022 and is likely to hit US$ 243.81 million by 2028, exhibiting a CAGR of 7.0% during the forecast period.    

Key players dominating the Europe neonatal care equipment market are BD, Dragerwerk AG & Co. KGaA, Fisher & Paykel Healthcare Limited., GE Healthcare, Koninklijke Philips N.V., Masimo, Medtronic, Novos, Natus Medical Incorporated, Nihon Kohden Corporation, and Novos among others.

• In May 2022, Medtronic received FDA clearance for the Nellcor OxySoft SpO2 sensor. The new sensor has helped clinicians to respond quickly to well-informed decisions for their critical care patients.   

• In May 2021, Medtronic launched SonarMed airway monitoring system. The device continuously checks for Endotracheal Tube Obstruction and Position for Neonates and Infants providing immediate, actionable intelligence for Clinicians.

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