The global newborn thermal care devices market is estimated to observe remarkable growth in the upcoming years. Growing demand for neonatal care devices is propelling the growth of the market. The incubator sub-segment and hospitals sub-segment are estimated to lead the market. The North American region is projected to dominate the market growth.
New York, USA, May 18, 2021 (GLOBE NEWSWIRE) -- A latest report on the global newborn thermal care devices market has been added by Research Dive to its repository. As per the report, the market is projected to grow with a substantial CAGR from 2021 to 2028. This report sheds lights on the current condition and future scope of the global industry. The report is developed by professional market analysts and promises to be a reliable source of data and comprehensive market insights for new players, investors, prevailing market players, stakeholders, shareholders, etc.
Factors Impacting the Market Growth:
The growing number of death cases in newborns owing to fluctuating body temperatures has surged the need for neonatal care devices, which is boosting the growth of the global newborn thermal care devices market. Furthermore, the rise in preterm birth complications and growth in technological advancements in infant care devices are anticipated to open doors to profitable opportunities for the market growth during the forecast period. However, high cost and expensive maintenance of newborn thermal care devices are anticipated to obstruct the market growth.
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The report segments the global newborn thermal care devices market into type, distribution, and region.
Incubator Sub-Segment to Hold Major Market Share
Among the type segment, the incubator sub-segment is projected to hold a major market share during the forecast period. The growth of this sub-segment is mainly because of the benefits of incubators such as maintaining appropriate supply of oxygen and a controlled environment for the newborn babies as well as upholding specific temperature for maintaining the body temperature of newborns.
High cost of newborn thermal care equipments acts as the restraining factor for the newborn thermal care devices market
High purchase and maintenance cost with poor accessibility of neonatal thermal care devices will act as a major hindering factor in the forecast period. Increase in the number of infant patients is driving the market but the limited healthcare expenditure and budget constraints of healthcare bodies is expected to restrain the market from growing exponentially. Moreover, due to high purchase cost of the equipment, in developing countries, the healthcare facilities buy low quality products which does not guarantee the best result. This also acts as a major restrain in the market.
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Hospitals Sub-Segment to Dominate the Market
Among the distribution segment, the hospitals sub-segment is expected to hold a dominating market share during the forecast period. The growth of this sub-segment is mainly because of the growing availability of Neonatal Intensive Care Units (NICU) and advanced neonatal devices in hospitals.
North America Region to Hold Leading Market Share
The report analyzes the global newborn thermal care devices market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the North American region market is expected to undergo rapid growth during the projected period. The growth of this region market is mainly owing to the growing availability of advanced healthcare systems and NICU segments in the hospitals in this region.
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Major Players in the Market:
The report lists some of the leading players functioning in the global newborn thermal care devices industry including -
Medicor Elektronika Zrt.
Atom Medical Corporation
Natus Medical Incorporated
General Electric Company
Bistos Co., Ltd.
Inspiration Healthcare Group plc.
Phoenix Medical Systems
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players functioning in the global industry. For instance, in May 2019, the Neonatal Intensive Care Unit (NICU) at the St Peter’s Hospital introduced a new transport incubator system for use by the Surrey Neonatal Transfer Service. The fully equipped mobile NICU for newborns has successfully made numerous journeys; for instance, a trip to Swansea to bring back home a premature baby to Surrey.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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