Neonatal Intensive Care Market Rising in United States | Fortune Business Insights
The global neonatal intensive care market size is poised to reach USD 7.72 billion by 2027 on account of increasing innovations in medical technology. Neonatal intensive care unit or NICU are special nursery care rooms designed for newborns in need of intensive medical care. These neonatal units are equipped with advanced machinery that will help support the preterm babies with their serious medical conditions. According to a recent report published by Fortune Business Insights™ titled, “Neonatal Intensive Care Market Size, Share & Industry Analysis, By Product (Neonatal Incubators, Neonatal Phototherapy Equipment, Neonatal Ventilators, Neonatal Monitors, and Others), By End User (Hospitals, and Specialty Clinics), and Regional Forecast, 2020-2027,” the market value stood at USD 4.59 billion in 2019 and is expected to rise at a CAGR of 6.7% in the forecast period set from 2020 to 2027.
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North America |
United States, Canada and Mexico |
Europe |
Germany, UK, France, Italy, Russia and Turkey
etc. |
Asia-Pacific |
China, Japan, Korea, India, Australia, Indonesia,
Thailand, Philippines, Malaysia and Vietnam etc. |
South America |
Brazil, Argentina, Columbia etc. |
Middle East & Africa |
Saudi Arabia, UAE, Egypt, Nigeria and South
Africa |
The U.S Food and Drug Administration
approved 510 (k) Clearance for Puffin Infant Resuscitator, Adding to Diverse
Line of Products
The leader of
infant care products, International Biomedical obtained regulatory approval from
the U.S. FDA for their Puffin Infant resuscitator in July 2014. This approval
will help to increase the overall revenue collection of the company thus
resulting in the availability of a diverse range of company products. The
Puffin will provide respiratory support to infants during birth by connecting
it with incubators and bedside warmers or by placing it at the bedside with its
optional mobile stand. The Vice President of the Sales and Marketing Department
at International biomedical said, “We developed this manually operated
respiratory support device for use in case of resuscitation situation. We
believe the Puffin will be helpful for respiratory therapists and neonatal
consumers as it suffices to various needs such as mask or t-piece or bag ventilation,
blended oxygen delivery, and integrated suction for less stressful airway
management.” Innovations such as this are likely to bode well for the market in
the coming years.
Increasing Cases of Preterm Birth will Add
Impetus to Market
The prevalence of sedentary lifestyle and susceptibility to various chronic ailments are some of the major neonatal intensive care market growth drivers. As per a report published in 2018 by the Centers for Disease Control and Prevention (CDC), an estimated 2-10% of pregnancies in the United States are affected by gestational diabetes. The increasing rate of preterm birth cases and the growing demand for high-quality care for newborn babies will help augment the growth of the market in the forecast duration. On the contrary, factors such as the high cost of implementation and maintenance may hinder market growth. This, coupled with the lack of awareness and facilities in underdeveloped nations may also cause the market to face rough waters in the coming years.
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