Neonatal Intensive Care Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027
Transparency Market Research (TMR) has published a new report titled, ‘Neonatal Intensive Care Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global neonatal intensive care market was valued at US$ 1,511.7 Mn in 2018 and is projected to expand at a CAGR of 5.4 % from 2019 to 2027.
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Overview
- Babies admitted to the NICU can be premature, have certain health conditions or might have low birth weight. The newborn might have health conditions such as difficulty in breathing, heart problems, infections, birth defects, etc.
- Neonatal intensive care units are a combination of advanced technology and trained health care professionals who provide intensive medical attention to newborn babies admitted into the special division of the hospital
- North America dominated the global neonatal intensive care market in 2018and the trend is anticipated to continue during the forecast period. Increased demand for NICU services, rise in number of pre-term births and huge demand of technologically advanced instrument for treatment of the neonates are expected to drive the market in North America.
- Asia Pacific is likely to be a highly lucrative market for neonatal intensive care and it is expected to expand at a high CAGR during the forecast period
Increased demand for NICU Services to Drive Market
- Demand for NICU services has increased as there are is an increase in number of complications during pregnancy. According to Medscape, incidence of multiple births increased significantly in the late 20th century in the U.S. and globally
- Birth weight is closely associated with gestational age and due to increased incidence of preterm delivery with low birth weight babies, these neonates are vulnerable to nosocomial infection and necrotizing enterocolitis contributing for the increase in demand for NICU services at hospitals
- Furthermore, preterm births are highly vulnerable to infections and there is a need to take care of various health conditions. This require special highly contained environment to reduce the chance of infections to the newborn. These infections can also lead to death. According to the World Health Organization (WHO) newborn infections, preterm birth complications, and birth asphyxia infections account for over 80% of all global neonatal deaths.
- Therefore, there is a need for early diagnosis of such as diseases. NICUs provided appropriate treatment for these illness among the newborns.
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Central Catheters Segment to Dominate Market
- Based on product type, the global neonatal intensive care market has been divided into peripheral catheters, central catheters, and introducers & accessories. The peripheral catheters segment has been bifurcated into peripheral intravenous catheters (PIVC) and midline catheters (extended dwell). The central catheters segment has been bifurcated into peripherally inserted central catheters (PICC), central venous catheters (CVC), implantable ports and umbilical catheters. The introducers & accessories segment has been bifurcated into subcutaneous and intravenous
- The central catheters segment dominated the global neonatal intensive care market in2018 and the trend is projected to continue during the forecast period. Introduction new modified user-friendly techniques for the insertion of peripherally inserted central catheters major factor for to boost the market growth.
Medication Administration to be Highly Lucrative Segment
- In terms of application, the global neonatal intensive care market has been classified into medication administration, transfusion of blood, diagnostic testing and feeding
- The medication administration segment dominated the neonatal intensive care market due rise in demand for antibiotic treatment and increase in administration of iron supplements and antibiotics
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North America to Dominate Global Market
- In terms of region, the global neonatal intensive care market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global neonatal intensive care market in2018, followed by Europe.
- North America accounted for major share of the global neonatal intensive care market in 2018,owing to rise in incidence of preterm births and low birth weight births and increase in demand for specialized neonatal care
- According to the Centers for Disease Control and Prevention (CDC), number of preterm births and babies with low birth weight increased from 2015to In 2016, rate of preterm births in the U.S. was 9.84%.
Competitive Landscape
- The global neonatal intensive care market is fragmented in terms of number of players. Key players in the global market include Cook Medical, C. R. Bard, Inc., Angiodynamics, Teleflex Incorporated, B. Braun Melsungen AG, Becton, Dickinson and Company, Medtronic, Vygon (UK) Ltd, Utah Medical Products, Smiths Medical among others
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