The neonatal thermoregulation industry has taken the spotlight in healthcare sector with the advanced monitoring systems for neonates gaining traction. Additionally, rise in number of pediatric clinics and neonatal intensive care coupled with the new inventions by industry players is creating avenues for demand growth. While the COVID-19 pandemic affected the industry output and demand-supply patterns, various macro-economic factors such as increase in governmental investments in healthcare sectors, advancements in medical technology, and increase in per capita health expenditure are expected to keep fuelling the sales in the post-pandemic years.
The latest revised report on the ‘neonatal thermoregulation’ market study by Future Market Insights (FMI) offers an exhaustive overview of the global industry while emphasizing on the crucial growth & restraining factors, and demand-supply trajectories across 20+ countries during the forecast period of 2021 to 2031.
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Key Takeaways from Market Study
- The global neonatal thermoregulation industry is predicted to ascend at over 4% CAGR through 2031
- High demand for radiant and wall mount warmers to spur the demand growth
- Closed segment to register impressive demand in terms of modality
- Requirement in hospitals sector to fuel sales
- The United States remains the epicenter in North America neonatal thermoregulation industry
- Germany to sustain on the forefront of the world’s second largest neonatal thermoregulation industry Europe
- Asia Pacific emerges as the fastest growing region during the forecast period
- China, Japan, India, the United Kingdom, France, Italy, Canada, and a few other countries to remain in the limelight for stakeholders
“With the growing focus on reducing morbidity and mortality in newborns, neonatal thermoregulation industry is projected to gain further momentum. Furthermore, increase in number of pediatric & neonatal intensive care units is subject to cater to the demand growth in the near future,” says an FMI analyst.
How is the Increase in Awareness Regarding Newborn Mortality Rates Propelling the Growth?
Thermoregulation plays a very crucial role in balancing heat production and heat loss in order to maintain body temperature of newborns within a certain normal range. As not maintaining proper body temperature can be fatal for newborns, demand for neonatal thermoregulation is getting prominent in hospitals and neonatal intensive care units.
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For instance, neonatal hyperthermia may occur if proper thermoregulation is not done for a newborn. In this condition, the newborn’s body temperature drops below 36.5 degree Celsius and progressive reduction in body temperature may lead to adverse clinical effects ranging from metabolic stress to death. According to the report titled “Newborns: Improving Survival and Well-Being” published by the World Health Organization (WHO) on 19th September, 2020, globally 2.4 million neonates died in 2019, while approximately 7000 newborn die every day amounting to 47% of all child deaths under the age of 5 years. Such reports are helping in spreading awareness which in turn is favoring neonatal thermoregulation equipment suppliers.
Who is Winning in this Space?
The global neonatal thermoregulation industry provides with highly competitive environment for key players. In order to leverage the new opportunities, key players are developing advanced and wider range of products.
- General Electric Company launched its new Corometrix 250 cx Series, Corometrics 170 Series Fetal Monitor and Mini Telemetry System, and others during the last 5 years
- Natus Medical Incorporated announced the acquisition of Innovative Newborn Care Technology in November, 2020 in order to increase its sales footprint
More Valuable Insights
In its latest report, FMI offers an unbiased analysis of the neonatal thermoregulation market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (warmer (radiant warmer and wall mount warmer), neonatal incubators (intensive care incubator (hybrid incubator and selective close care incubators), and transport incubator), and neonatal cooling systems), modality (open and closed), and end users (hospitals, paediatric and neonatal intensive care units, and others), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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