Report : South & Central America Neonatal Care Equipment Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product [Infant Warmers (Electric Warmers and Non-Electric Warmers), Neonatal Incubators, Convertible Warmers & Incubators, Neonatal Phototherapy Equipment, Neonatal Respiratory Care Devices (Neonatal Ventilators, Continuous Positive Airway Pressure Devices, Resuscitators, and Others), Neonatal Monitoring Devices (Blood Pressure Monitors, Cardiac Monitors, Pulse Oximeters, Capnographs, Extracorporeal Membrane Oxygenation Systems, and Integrated Monitoring Devices), Neonatal Diagnostic Imaging Devices (Ultrasound Systems, X-Ray Imaging Systems, and Others), and Other Products] and End User (Hospitals, Paediatric & Neonatal Clinics, and Nursing Homes)
According to Business Market Insights’ research, the South & Central America neonatal care equipment market was valued at US$ 126.76 million in 2022 and is expected to reach US$ 180.60 million by 2028, registering an annual growth rate of 6.0% from 2022 to 2028. Neonatal care equipment becoming popular and increased R&D and developments are the critical factors attributed to the market expansion.
South and Central America region (SAM) consists of Brazil, Argentina, and the Rest of South and Central America. The rising number of births, a large number of complications are associated with preterm births, leading to neonatal deaths are expected to increase the neonatal care equipment demand in the region. Additionally, incidence of diseases among newborns have also increased, technical advancements, with quick expansion and high adoption of the neonatal care equipment in the hospitals and neonatal clinics in the region are expected to support the growth of the market. Moreover, geographical expansion, product launches, strategic collaboration, and increasing investments by global market players are expected to accelerate the growth of the neonatal care equipment market. During the forecast period, the market is expected to grow at a CAGR of 6.1%.
On the contrary, decreasing birth rates and high prices of products hurdles the growth of South & Central America neonatal care equipment market.
The South & Central America 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 26.7% market share in 2022, amassing US$ 33.80 million. It is projected to garner US$ 49.56 million by 2028 to expand at 6.6% CAGR during 2022–2028.
The South & Central America 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$ 58.18 million in 2022 and is estimated to generate US$ 83.65 million by 2028 to grow at a CAGR of 6.2% over the forecast period.
Our regional analysis states that Brazil captured 56.9% market share in 2022. It was assessed at US$ 72.09 million in 2022 and is likely to hit US$ 104.42 million by 2028, exhibiting a CAGR of 6.4 during the forecast period.
Key players dominating the South & Central America neonatal care equipment market are BD, Dragerwerk AG & Co. KGaA, Fisher & Paykel Healthcare Limited., GE Healthcare, Koninklijke Philips N.V., Masimo, Medtronic, Natus Medical Incorporated, and Nihon Kohden Corporation 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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