The global fetal (labor & delivery) and neonatal care equipment market is projected to reach USD 8.4 billion by 2023 from USD 6.4 billion in 2018, at a CAGR of 5.7%. Factors such as Rising number of preterm and low-weight births, growing number of NICU admissions, and increased awareness of neonatal and fetal care across developing nations are expected to propel the growth of the market.
Some of the prominent players in the fetal (labor & delivery) and neonatal care market are GE Healthcare (UK), Philips Healthcare (Netherlands), Drägerwerk AG & Co. KGaA (Germany) Atom Medical Corporation (Japan), Natus Medical Incorporated (US), and Masimo Corporation (U.S.) among others.
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Analysis of the developments in the fetal and neonatal care equipment market from 2015 to 2018 shows that new product launches, agreements, partnerships, collaborations, geographic expansions, and mergers & acquisitions are the most widely adopted growth strategies by players in the market. Players adopted these strategies to strengthen their market positions.
GE Healthcare held the leadership position in the overall fetal and neonatal care equipment, which can be attributed to its domination in almost all market segments. The company has a broad product portfolio which includes products under various categories such fetal monitors, Ultrasound, infant warmers, phototherapy equipment, and incubators, among others. In order to sustain its leadership position in the fetal and neonatal care equipment market, the company focuses on new product launches and expansions and inorganic growth strategies such as collaborations and agreements. In 2018, the company launched ultrasound product, namely Versana Essential and in 2015 the new Vscan Access (a portable ultrasound system) in certain countries of Africa and Southeast Asia. The company also acquired Monica Healthcare (UK), a monitoring technology company that offers advanced fetal monitoring devices.
Philips Healthcare held leadership position in the fetal and neonatal care equipment market, due to its broad product portfolio and strong market presence in more than 100 countries, including mature and emerging markets. The company focuses on agreements, partnerships, collaborations and new product launch growth strategies to increase its market share. In 2018, the company launched Avalon beltless solution for continuous maternal and fetal monitoring and eL18-4 transducer in 2017 which are available for its EPIQ 7 and 5 and Affiniti 70 ultrasound systems. Furthermore, in 2018 Philips and Hologic, Inc. entered into an agreement to provide integrated imaging solutions for women’s health.
Fetal (Labor & Delivery) and Neonatal Care Equipment Market - (Ultrasound, Doppler, Fetal Monitors (Intrapartum, Antepartum), Warmer, Incubator, Pulse Oximeter, Phototherapy Devices, Ventilator, MRI, CPAP, Capnograph, Resuscitator)-Global Forecast to 2023
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