23-Aug-2022 | Zion Market Research
The global neonatal thermoregulation market size was worth USD 23,542.80 million in 2021 and is estimated to grow to USD 41,029.65 million by 2028, with a compound annual growth rate (CAGR) of around 9.70 percent during the forecast period. The report analyzes the neonatal thermoregulation market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the neonatal thermoregulation market.
Neonatal thermoregulation is a function strongly influenced by physical immaturity, the severity of illness, and other environmental factors. Newborns, especially premature babies, are often at risk for hypothermia within the first 12 hours after birth. During hypothermia, infants lose body heat by four pathways: convection, radiation, conduction, and evaporation. Once the heat is lost, the infant's metabolic system is affected. Devices such as incubators and bottle warmers are widely used to avoid harm to the infant. The rapidly increasing birth rate globally is expected to drive market growth during the forecast period. Furthermore, the availability of state-of-the-art neonatal care facilities is expected to provide significant growth opportunities for companies operating in the global neonatal thermoregulation market during the forecast period.
The global neonatal thermoregulation market is segregated based on product type, modality, end-user, and region. The market is divided into warmer, neonatal incubators, and cooling systems by product type. Among these, in 2021, the warmer segment dominated the market, accounting for a significant percentage of global sales due to the increasing number of newborns globally. Based on modality, the market is categorized into open and close. The open category dominated the global market in 2021. By end-user, the market is bifurcated into hospitals, pediatric & neonatal intensive care units, nursing homes, and others. Over the forecast period, the hospital segment is expected to develop faster.
In 2021, North America dominated the global neonatal thermoregulation market with well-developed healthcare industry. Government involvement in raising awareness about infant diseases drives the market's growth. For example, the US government has programs such as the Health Resources and Services Administration (HRSA) Genetic Disorders Program and the Screening Quality Assurance Program. Thus, such government and NGOs' initiatives and programs support the market's growth. Europe is expected to occupy the second position in the neonatal thermoregulation market. The market development in this region is due to the availability of funding sources for research. Asia-Pacific is expected to be the fastest growing region in the market due to the presence of a vast patient population and continuously growing economies. According to a report published by the International Journal of Social and Development Concern, in Malaysia, the growth rate of public primary and secondary care facilities has decreased in recent years. It is not keeping pace with rapid urbanization. As such, these factors are holding back the growth of this regional market.
Key market players in the global neonatal thermoregulation market include GENERAL ELECTRIC COMPANY, Natus Medical Incorporated, Inspiration Healthcare Group plc., Koninklijke Philips N.V., Drägerwerk AG & Co. KGaA, Fisher & Paykel Healthcare, International Biomedical, Ltd., Atom Medical Corporation, Fanem Ltda, and Novos Medical Systems.
Browse the full “Neonatal Thermoregulation Market By Product Type (Warmer, Neonatal Incubators, and Neonatal Cooling Systems), By Modality (Open, and Closed), By End-user (Hospitals, Pediatric and Neonatal Intensive Care Units, Nursing Homes, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028” Report at https://www.zionmarketresearch.com/report/neonatal-thermoregulation-market
The global neonatal thermoregulation market is segmented as follows:
By Product Type
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