Neonatal Care Equipment Companies

The neonatal care equipment market is projected to reach USD 2.84 billion by 2030 from USD 2.06 billion in 2025, at a CAGR of 5.6% during the forecast period. The market is primarily fueled by increasing rates of preterm births, continuous technological advancements, and expanding government programs aimed at lowering infant mortality. Rising investments in NICU development and growing awareness of neonatal healthcare needs are further driving the demand for incubators, ventilators, and monitoring devices.

The prominent players in the neonatal care equipment market are Drägerwerk AG & Co. KGaA (Germany), GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), Masimo (US), BD (US), Cardinal Health (US), Fisher & Paykel Healthcare (New Zealand), Utah Medical (US), ICU Medical (US) among others. These players have adopted various growth strategies such as product launches, acquisitions, and expansion to increase their presence and reach in the neonatal care equipment market.

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In May 2024, Masimo received FDA clearance (510(k)) for the Stork Over-the-Counter Baby Monitoring System, enabling home monitoring of SpO2, pulse rate, and skin temperature in infants up to 18 months old, now available without prescription. In December 2023, Masimo received FDA clearance (510(k)) for the prescription version of the Stork Baby Monitoring System, expanding its availability for continuous home-based use in both healthy and sick infants.

GE Healthcare

GE HealthCare is among the top manufacturers in the neonatal care equipment market due to its comprehensive product portfolio, global presence, and strong innovation capabilities. The company offers advanced incubators, infant warmers, ventilators, and neonatal monitoring systems integrated with AI and data analytics, ensuring high-quality neonatal care. Its focus on ergonomic design, clinical efficiency, and connectivity in NICU environments has positioned it as a preferred choice among healthcare providers. Its continuous investment in R&D and strategic collaborations with hospitals and research institutes reinforce its leadership. Additionally, GE HealthCare’s global distribution network ensures widespread access to its neonatal solutions.

Drägerwerk AG & Co. KGaA

Drägerwerk AG & Co. KGaA is among the top manufacturers in the neonatal care equipment market due to its long-standing expertise in neonatal respiratory support and thermal management systems. The company offers high-performance products such as neonatal ventilators, incubators, warmers, and monitoring systems specifically designed for NICU environments. Its strong focus on patient safety, gentle ventilation strategies, and user-friendly interfaces has made its solutions widely adopted across hospitals globally. Its continuous innovation, clinical research partnerships, and emphasis on integrated NICU solutions further enhance its market position. Moreover, its global footprint and after-sales service strengthen its reliability and customer retention.

Koninklijke Philips N.V.

Philips is among the top manufacturers in the neonatal care equipment market due to its robust portfolio of advanced monitoring systems, incubators, CPAP devices, and imaging technologies tailored for neonatal intensive care. The company’s focus on integrated solutions—combining real-time monitoring, smart alarms, and data connectivity—enhances clinical decision-making and infant safety. Philips is known for innovations in non-invasive respiratory support and neonatal MRI-compatible devices. Its strong global presence, strategic collaborations with leading hospitals, and commitment to improving neonatal outcomes through technology-driven care have solidified its leadership. Additionally, its user-centric design and emphasis on reducing caregiver workload boost adoption across NICUs worldwide.

Market Ranking

The global neonatal care equipment market is highly consolidated, with prominent players accounting for over 70% of the total market share in 2024. Some of the players dominating the market include Drägerwerk AG & Co. KGaA (Germany), GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), and Masimo (US).

The prominent players in the neonatal care equipment market are based in developed regions such as North America, Europe, and the Asia Pacific. However, in the past few years, a number of smaller players catering to neonatal care equipment have emerged from niche markets and are competing with global players based on product scope and innovation. The lucrative growth opportunities in the Asia Pacific and Latin American markets are encouraging market players to strengthen their presence in these regions.

Related Reports:

Neonatal Care Equipment Market by Product (Neonatal Incubators, Convertible Warmers & Incubators, Respiratory Care Devices (Neonatal Ventilators), Monitoring Devices (Pulse Oximeters)), End User (General and Pediatric Hospitals) - Global Forecast to 2030

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