Neonatal Intensive Care Market 2018 – Global Industry Key Growth Factor Analysis & Research Study
"According to a new report published by Reports Monitor titled, “Global Neonatal Intensive Care Market” the global military surveillance market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
The neonatal intensive care unit or NICU which is also referred as intensive care nursery or ICN, is an intensive care unit that have specialization in the care of premature newborn infants. Neonatal care are the specialized nurseries or intensive care, exist since the 1960s. The first intensive care unit was developed in U.S.
The rising count of the premature baby births could be a major factor augmenting the demand for neonatal intensive care. Furthermore, the booming birthrate in emerging nations is could be anticipated as an integral factor to trigger the market growth. The growing number of applications of neonatal medical care equipment and devices has been anticipated to augment the demand for the market. Some of the significant applications include monitoring, thermoregulation, and respiratory assistance.
However, huge medical expenses associated with premature birth or preemies is a subtle restraint or obstacle in the growth of the international neonatal intensive care market. The requirement for technologically sophisticated medical equipment such as, radiant warmers, ventilators and incubators for neonatal intensive care units or NICUs induce expenditure, hence adding to the total medical cost.
On the basis of product type the market is classified as Infant Warmers, Incubators, Convertible Warmers, Neonatal Monitoring Devices, Respiratory Devices, Phototherapy Equipment, Catheters.
Furthermore, on the basis of end user market is bifurcated as hospitals and childcare clinics.
From the geographical perspective, North America market for global neonatal intensive care market has the prominent share. The growth in North America could be expected owing to the rise in government funding and improving awareness about childcare. Europe, shares the significant share in the market and is rising at a considerable rate owing to the comprehensive presence of global companies introducing new techniques. Increasing number of premature births in the European region could be due to multiple pregnancies with artificial inseminations, obesity, and late parenthood could further help the market to flourish.
APAC and LAMEA holds a considerable share and the market is expected to grow in near future in these regions due to the increasing awareness and heavy expenditure on healthcare infrastructure in countries like Brazil, Argentina. Asia Pacific could be a faster-growing region of the international neonatal intensive care market expected to grow due to magnified population in countries like China and India. Rising awareness, improving education systems and growth of the private healthcare sector can trigger the market growth.
The major key players in this market are Medtronic plc, Cook Medical, C. R. Bard Inc., Teleflex Incorporated, Becton, Dickinson and Company, and B. Braun Melsungen AG.
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