Dublin, Nov. 12, 2019 (GLOBE NEWSWIRE) -- The "Fetal And Neonatal Monitoring Devices Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.
The global fetal and neonatal monitoring devices market was valued at about $9.9 billion in 2018 and is expected to grow to $12.17 billion at a CAGR of 5.3% through 2022. Major players in the market are GE Healthcare, Fisher & Paykel Healthcare Limited, Philips Healthcare, Atom Medical Corporation and Natus Medical Incorporated.
North America was the largest region in the fetal and neonatal monitoring devices market in 2018. The fetal and neonatal monitoring devices market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023.
The increasing prevalence of preterm births and low body weight of infants acts as factor driving the fetal and neonatal monitoring devices market growth. Preterm birth refers to premature birth of a child before 37 weeks gestation period, which leads to poor health and growth, mental retardation, visual and hearing impairments, cerebral palsy and others. According to World Health Organization (WHO), around 5.6 million children aging less than 5 years died in 2016 and preterm birth was found to be one of the top reasons for the deaths.
According to a 2018 report by WHO, nearly 15 million babies are born preterm every year and this number is expected to have a continuous rise in the near future. The increasing prevalence and need to reduce the infant mortality rates with improving healthcare conditions, drives the fetal and neonatal monitoring devices market. For instance, according to 2016 annual report of the National Center for Health Statistics, the preterm birth rates in the USA rose from 9.63% in 2015 to 9.84% in 2016. Furthermore, the low birth weight rate increased to 8.16% in 2016 from 8.07% in 2015.
The fetal and neonatal monitoring device market is restricted by stringent regulatory policies governing this market. The fetal and neonatal device manufacturers need to pass through several tests and requirements laid down by different regulatory bodies. Regulations like FDA's Center for Devices and Radiological Health (CDRH), NMPA regulations, EU directives lay down some stringent regulations for these equipment.
The changes related to customer data protection such as the European Union's General Data Protection Regulation (GDPR), changes to equipment approval procedures and other regulatory changes lead to increased healthcare costs. For instance, according to a report by Ernst and Young in 2018, Fortune 500 companies are spending $7.8 billion to comply with GDPR regulations. The GDPR regulation is an EU law on data protection and privacy of individuals residing the European Union and the European Economic Area (EEA). Furthermore, the FDA is requesting more clinical data to support claims resulting in increased processing times of 510(k)s by over 55% over the last decade, thus delay the operating cycle of manufacturers in this market.
Fetal and neonatal monitoring device manufacturers are increasingly innovating and integrating technologies such as wireless technology with patient monitoring devices to efficiently diagnose and monitor fetus and newborns. Wireless sensor technology such as biosensor monitoring devices, wireless fetal heart rate monitoring devices are multi sensor systems implanted or embedded into the skin, consisting of a sensor that transmits data for real time monitoring of patient's medical condition.
For instance, the National Institute of Neurological Disorders and Stroke developed SARA, a scanning device that can detect fetal brain activity with the help of flashes of light transmitted through the mother's abdomen. In 2018, Philips developed a new cordless fetal monitoring device that helps in ensuring the safety of the mother as well as the child without any inconvenience and risk. These technological innovations eliminate poor reception of observation and help caregivers in monitoring more efficiently.
In June 2018, Hong Kong's Department of Health, a regulatory body for fetal and neonatal monitoring devices of Hong Kong, sent a medical device safety alert to Guangzhou Sunray Medical Apparatus Co., Ltd, a medical device manufacturer, concerning its maternal and fetal monitor. The safety alert was sent as the Guangzhou Sunray maternal and fetal monitor was delivering inaccurate ultrasound-derived fetal heart rate recordings due to software-related issue. These devices impacted patients' health with delayed intervention resulting in severe injury or death to the fetus. To reduce incidences associated with these devices MRHA sent a medical device safety alert to correct the device.
Similarly, in March 2019, Philips Medical Systems, a medical device manufacturer, was sent a medical device safety alert on Philips Fetal Spiral Electrode (FSE) to define its usage instructions due to an increase cases of tip breakage of the spiral electrode. The safety alert was sent as it is possible for the metal electrode tip to break off and remain in the scalp of the newborn following labor and delivery.
Key Topics Covered
1. Executive Summary
2. Fetal And Neonatal Monitoring Devices Market Characteristics
3. Fetal And Neonatal Monitoring Devices Market Size And Growth
3.1. Global Fetal And Neonatal Monitoring Devices Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Fetal And Neonatal Monitoring Devices Forecast Market, 2019 - 2022F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Fetal And Neonatal Monitoring Devices Market Segmentation
4.1. Global Fetal And Neonatal Monitoring Devices Market, Segmentation By Equipment, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
- Fetal
- Neonatal
4.2. Global Fetal And Neonatal Monitoring Devices Market, Segmentation By End User, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
- Hospitals Diagnostic Centers
- Pediatric Clinics
- Ambulatory Surgical Centers
4.3. Global Fetal And Neonatal Monitoring Devices Market, Segmentation By Portability, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
- Portable
- Non-Portable
4.4. Global Fetal And Neonatal Monitoring Devices Market, Segmentation By Fetal Care Equipment Type, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
- Ultrasound Devices Fetal Dopplers
- Fetal MRI Systems Fetal Monitors
- Fetal Pulse Oximeters
4.5. Global Fetal And Neonatal Monitoring Devices Market, Segmentation By Neonatal Care Equipment Type, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
- Infant Warmers Incubators
- Convertible Warmers & Incubators Phototherapy Equipment
- Respiratory Devices Neonatal Monitoring Devices
- Diagnostic Imaging Devices
5. Fetal And Neonatal Monitoring Devices Market Regional And Country Analysis
5.1. Global Fetal And Neonatal Monitoring Devices Market, Split By Region, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
5.2. Global Fetal And Neonatal Monitoring Devices Market, Split By Country, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
Companies Profiled
- GE Healthcare
- Fisher & Paykel Healthcare Limited
- Philips Healthcare
- Atom Medical Corporation
- Natus Medical Incorporated
Companies Mentioned (A-Z)
- Atom Medical Corporation
- Beijing Yei Shinhang Electronic Technology
- BPL Limited
- CRH Medical
- Dispomed Ltd.
- DRE Veterinary
- Everest Veterinary Technology
- Fisher & Paykel Healthcare Limited
- GE Healthcare
- General Electric
- Hallowell Engineering
- Henry Schein Company
- JD Medical
- Kent Scientific
- Manufacturing Corporation
- Mediquip
- Midmark Corporation
- Mindray Medical
- Natus Medical Incorporated
- Patterson Scientific
- Penlon Limited
- Philips Healthcare
- Smiths Medical
- Supera Innovations
- Synthomer plc
- Tenessee Anaesthesia
- Vetland Medical
- Vetronic Services Limited
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