Prenatal, fetal and neonatal care is gaining importance every year with increasing awareness, demand and affordability for the latest, improved and technologically advanced equipment that are available worldwide
Premature and congenitally ill infants are born as a result of advanced maternal age, induced fertility, labor treatments, poor prenatal care, and lifestyle preferences such as smoking, drinking, and obesity. Various disorders such as anemia, bronchopulmonary dysplasia, intra-ventricular hemorrhage, hyperbilirubinemia, and transient tachypnea are diagnosed at birth. Thus, proper prenatal care, balanced nutrition, and appropriate medical care are necessary for a healthy pregnancy and birth. Maternal and infant care equipment are used to monitor, evaluate and treat diseases in the prenatal and postnatal stage of infants.
Prenatal, fetal and neonatal care is gaining importance every year with increasing awareness, demand and affordability for the latest, improved and technologically advanced equipment that are available worldwide. Premature birth has been one of the leading causes of neonatal death globally, that kills more than one million newborns every year. There are approximately 15 million premature babies born every year across the globe that require urgent medical attention and intensive care, which creates the demand for maternal and infant care equipment. Prenatal, fetal and neonatal care equipment are also required for numerous other applications, such as treatment for hypothermia, jaundice management, fetal and neonatal monitoring, respiratory assistance and others. Growing awareness, low cost equipment, and replacement market are some of the factors driving the growth of neonatal equipment industry.
The global prenatal, fetal and neonatal equipment market was valued at US$ 6.63 billion in 2014 and is expected to grow at a CAGR of 6.1 percent from 2014 to 2019, to reach an estimated value of US$ 8.92 billion in 2019. Some of the major prenatal, fetal and neonatal equipment available in the global market are ultrasound and ultrasonography, fetal dopplers, infant warmers and incubators, phototherapy equipment, and respiratory assistance and monitoring devices. Among these, respiratory assistance and monitoring devices are the largest sub-segment with over 40 percent share of the neonatal equipment market.
Increasing demand for improved and technologically advanced equipment such as double walled closed incubators, highly portable fetal dopplers will add to the growth of the market.
North America dominates the global prenatal, fetal and neonatal equipment market, with more than 28 percent share in 2014 in terms of revenue, followed by the European market (25%). Major factors contributing to the leading position of the North American market are high incidence rate of premature births, increasing age of maternal population and high level of awareness, demand and affordability for various prenatal and neonatal care equipment in the region. Asia-Pacific is expected to show the highest CAGR of 7.8 percent during the forecast period from 2014 to 2019 in the global prenatal, fetal and neonatal equipment market.
The key factor responsible for the growth of the prenatal, fetal and neonatal equipment market is increasing incidences of premature births worldwide. Africa and Asia are the largest contributors towards the premature newborns, with Africa exhibiting highest incidence rate of premature births. However, the US exhibits the second highest incidence rate of premature births with 10.6 percent of all births in the region in 2005. Increasing age of maternal population is also leading to a number of complications that require various prenatal, fetal and neonatal care equipment. Rising awareness levels along with increasing affordability of the population especially in the emerging economies will help the growth of this market in future. Increasing demand for improved and technologically advanced equipment such as double walled closed incubators, highly portable fetal dopplers will further add to the growth of this market.
Indian neonatal equipment industry is experiencing spectacular growth for the past few years as many new entrants are emerging in this market providing better healthcare facilities, thus, leading to increased competition. The Indian neonatal equipment market was valued at `201 crore in 2014. The market grew at an average rate of 25 percent over the past three years. New and technologically advanced equipment in the prenatal, fetal and neonatal equipment market will further provide growth opportunities to this market in future.
The Indian neonatal equipment market was valued at Rs 201 crore in 2014
Leading multinational companies, medium sized corporate, importers, and small companies are operating in this field; however, the market is dominated by multinational companies in premium segments and medium sized companies in low cost segments.
The neonatal mortality rate in India is amongst highest in the world and skewed towards rural India. Non-availability of trained manpower along with poor health infrastructure is one of the major hurdles in ensuring quality health and neonatal care. Despite a decline in Infant Mortality Rate (IMR), neonatal mortality is more or less static. It is therefore essential that neonates are provided utmost care at the first month of life so that neonatal deaths on account of asphyxia, infection, and preterm births could be prevented. The neonatal mortality constitutes about 75 percent of infant deaths in the country. Under the National Rural Health Mission, several initiatives have been undertaken to accelerate the pace of reduction of child mortality.
Growing wealth, increasing mortality rate (IMR), increasing demand for private healthcare, reforms from governments, and active participation of social organizations in neonatal healthcare programs are some of the factors driving the growth of this industry.