The neonatal care equipment market in Europe is expected to grow from US$ 603.06 million in 2022 to US$ 890.74 million by 2028. It is estimated to grow at a CAGR of 6.7% from 2022 to 2028.
Growing Number of NICU Admission
According to Scientific Reports, remarkable advances in neonatal intensive care units (NICUs) over the past 50 years have improved survival and reduced morbidity in preterm and sick newborns. Delivering very low birth weight (VLBW) or preterm infants in hospitals with a stage III/IV NICU is now a standard of care. Increasing competition has prompted hospitals to expand the scope of care and high-risk patients. To maintain the proliferation of NICU units and beds in a more significant proportion of hospitals with maternity services and delivery of neonatal intensive care beyond regional or academic centers. The trend of increasing neonatal admissions to NICUs with older gestational age, higher birth weight, and lower disease severity increased over time.
Incubators are in high demand in neonatal intensive care unit (NICU) facilities for premature babies. Neonatal devices are used extensively in neonatal intensive care units (NICUs), where complex machines and monitors have been designed to meet the unique needs of neonates. Thus, the growing demand and need for NICUs are propelling the growth of the neonatal care equipment market.
Market Overview
Europe occupies a significant share in the global neonatal care equipment market and is expected to register a robust growth rate over the forecast period. The market growth in the region is expected due to increasing incidences of preterm birth owing to increasing maternal age and associated risk factors. The active government cooperation to reduce neonatal mortality is likely to increase the growth of the market. In 2020, a study published by researchers at Karolinska Institutet in Sweden stated that the vitality of preterm infants should be assessed with an Apgar score. The Apgar score is a tool used to measure the health of newborns immediately after birth. Researchers used Swedish nationwide register data and reported around 113,000 non-malformed infants born after 22–36 weeks of pregnancy between 1992 and 2016. Above mentioned factors are anticipated to account for the growth of neonatal care equipment market during the forecast period in Sweden and similarly in other European countries.
Europe Neonatal Care Equipment Market Revenue and Forecast to 2028 (US$ Million)
Europe Neonatal Care Equipment Market Segmentation
The Europe neonatal care equipment market is segmented into product, end user, and country.
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.
The Europe neonatal care equipment market, by end user, is fragmented into hospitals, paediatric & neonatal clinics, and nursing homes. The hospitals segment held the largest share of the market in 2022.
From country point of reference, the Europe neonatal care equipment market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Germany dominated the market in 2022.
BD, Dragerwerk AG & Co. KGaA, Fisher & Paykel Healthcare Limited., GE Healthcare, Koninklijke Philips N.V., Masimo, Medtronic, Natus Medical Incorporated, Nihon Kohden Corporation, and Novos are among the leading companies operating in the neonatal care equipment market in the region.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 603.06 Million |
| Market Size by 2028 | US$ 890.74 Million |
| CAGR (2022 - 2028) | 6.7% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Neonatal Care Equipment Market is valued at US$ 603.06 Million in 2022, it is projected to reach US$ 890.74 Million by 2028.
As per our report Europe Neonatal Care Equipment Market, the market size is valued at US$ 603.06 Million in 2022, projecting it to reach US$ 890.74 Million by 2028. This translates to a CAGR of approximately 6.7% during the forecast period.
The Europe Neonatal Care Equipment Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Neonatal Care Equipment Market report:
The Europe Neonatal Care Equipment Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Neonatal Care Equipment Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Neonatal Care Equipment Market value chain can benefit from the information contained in a comprehensive market report.
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