Fetal Monitoring Systems Market expected to expand at a CAGR of ~3% during the forecast period from 2019 to 2027
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Fetal Monitoring Systems Market: Introduction
Transparency Market Research has published a new report titled “Fetal Monitoring Systems Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027”. According to the report, the global fetal monitoring systems market was valued at approximately US$ 2.8 Bn in 2018. It is expected to expand at a CAGR of ~3% during the forecast period from 2019 to 2027. Monitoring procedures are the basis to evaluate the clinical state of patients and to access changes in their conditions, thus providing necessary interventions in time. Traditional fetal monitoring systems received a fundamental improvement by new technological devices allowing longer and deeper data collection of fetus and mother. Expansion of the global fetal monitoring systems market can be attributed to rise in prevalence rate of birth asphyxia, fat gain during pregnancy, and number of preterm births worldwide. North America is a highly lucrative market for fetal monitoring systems due to mandatory fetal monitoring of pregnant women and rise in number of users of home-based fetal monitoring systems.
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Rise in Awareness among Pregnant Women with High Body Mass Index to Drive Fetal Monitoring Systems Market
According to the data from the Public Library of Science, the percentage of overweight women during pregnancy increased from 29.8% in 1980 to 38.0% in 2013 globally. Prevalence of excessive gestational weight gain and obesity during all trimesters is a major cause of concern for fetus health. Moreover, doctors advise regular monitoring of fetus and the mother till successful delivery. This, in turn, is driving the market.
Development of Portable Fetal Monitoring Systems to Drive Global Market
Based on product, the global fetal monitoring systems market has been divided into systems and accessories. The systems segment dominated the global fetal monitoring systems market in 2018. Expansion of the segment can be attributed to development of portable fetal monitoring systems for home use and rise in number of hospitals.
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Hospitals & Nursing Homes to be key End Users
Based on end user, the global fetal monitoring systems market has been classified into hospitals & nursing homes, clinics, and home settings. Hospitals & nursing home is projected to be a highly lucrative segment from 2019 to 2027 and hold major share in terms of end-user. However, the home settings segment is anticipated to expand at a high CAGR during the forecast period. Rise in awareness about the advantages of fetal monitoring such as low cost of expenses from hospitals and development of convenient fetal monitoring systems for home use are some factors due to which home settings is expected to grow at faster rate.
North America to Dominate Fetal Monitoring Systems Market
In terms of region, the global fetal monitoring systems market has been divided into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global fetal monitoring systems market in 2018. Favorable reimbursement facilities, high awareness among patients for fetal monitoring, quick adoption of advanced technology fetal monitoring systems, and presence of major players who constantly promote their brands through wide distribution channels are key factors driving the market in the region. Asia Pacific is a lucrative market for fetal monitoring systems, due to large number of preterm birth rate in the region, rise in awareness about the advantages of home monitoring, and rise in disposable income in countries in the region, such as India.
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Competition Landscape
Abbott, F. Hoffmann-La Roche Ltd, and Siemens Healthineers AG are a few leading players operating in the fetal monitoring systems market. The global fetal monitoring systems market is fragmented in terms of number of players. Key players in the global market include Koninklijke Philips N.V., GE Healthcare, Mindchild Medical, Inc., Nemo Healthcare, Huntleigh Healthcare Limited (Arjo), Edan Instrument Inc., Neoventa Medical AB, Clinical Innovations, LLC., and SUNRAY MEDICAL APPARATUS CO.,LTD. New product approvals for specific indication, widespread distribution channels, and higher R&D investment are key strategies adopted by major players operating in the market.
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