The Global Neonatal Thermoregulation Industry is poised for remarkable growth, with projections indicating a surge from US$ 661.8 million in 2023 to an impressive US$ 1,151.6 million by 2033. This upward trajectory reflects a compelling Compound Annual Growth Rate (CAGR) of 5.7% from 2023 to 2033, according to a recent report by Future Market Insights Inc.
Over the past decade, heightened awareness of neonatal care has emerged as a pivotal driver behind the increased sales of neonatal thermoregulation equipment suppliers worldwide. The surge in demand from the hospital sector has significantly contributed to this trend, underscoring the industry’s vital role in ensuring optimal care for newborns.
Despite facing a temporary decline during the onset of the COVID-19 pandemic in 2020, the neonatal thermoregulation industry is experiencing a resurgence in momentum. As key end-use sectors steadily recover, the industry is poised for robust growth in the coming years.
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The latest revised report on the ‘Global Neonatal Thermoregulation Industry study by Future Market Insights (FMI) offers an exhaustive overview of the global industry while emphasizing the crucial growth & restraining factors, and demand-supply trajectories across 20+ countries during the forecast period of 2021 to 2031.
Key Takeaways from the Global Neonatal Thermoregulation Industry Study
- The Global Neonatal Thermoregulation Industry is expected to grow at a CAGR of more than 4% through 2031.
- High demand for radiant and wall-mounted heaters will drive demand growth.
- In terms of modality, the closed segment is expected to have strong demand.
- Demand in the hospital sector to fuel sales
- The United States continues to be the epicenter of the Neonatal Thermoregulation sector in North America, with Germany remaining at the vanguard of the world’s second-largest Neonatal Thermoregulation industry in Europe.
- During the predicted period, Asia Pacific emerged as the fastest-expanding region.
- For stakeholders, China, Japan, India, the United Kingdom, France, Italy, Canada, and a few other nations will remain in the spotlight.
“With the growing focus on reducing morbidity and mortality in newborns, the Neonatal Thermoregulation industry is projected to gain further momentum. Furthermore, an increase in several pediatric & neonatal intensive care units is subject to cater to the demand growth shortly,” says an FMI analyst.
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How is the Increase in Awareness Regarding Newborn Mortality Rates Propelling the Growth?
Thermoregulation plays a very crucial role in balancing heat production and heat loss to maintain the body temperature of newborns within a certain normal range. As not maintaining proper body temperature can be fatal for newborns, demand for Neonatal Thermoregulation is getting prominent in hospitals and neonatal intensive care units.
For instance, neonatal hyperthermia may occur if proper thermoregulation is not done for a newborn. In this condition, the newborn’s body temperature drops below 36.5 degrees Celsius and progressive reduction in body temperature may lead to adverse clinical effects ranging from metabolic stress to death. According to the report titled “Newborns: Improving Survival and Well-Being” published by the World Health Organization (WHO) on 19th September 2020, globally 2.4 million neonates died in 2019, while approximately 7000 newborns die every day amounting to 47% of all child deaths under the age of 5 years. Such reports are helping in spreading awareness which in turn is favoring Neonatal Thermoregulation equipment suppliers.
Who is Winning in this Space?
The global Neonatal Thermoregulation industry provides with highly competitive environment for key players. To leverage the new opportunities, key players are developing an advanced and wider range of products.
For instance,
- General Electric Company launched its new Corometrix 250 cx Series, Corometrics 170 Series Fetal Monitor and Mini Telemetry System, and others during the last 5 years
- Natus Medical Incorporated announced the acquisition of Innovative Newborn Care Technology in November 2020 to increase its sales footprint
Some of the key players supplying global Neonatal Thermoregulation Industry equipment are-
- GE Healthcare
- Natus Medical Incorporated
- Inspiration Healthcare Group Plc.
- Koninklijke Philips N.V.
- Dragerwerk AG & Co. KGaA
- Fisher & Paykel Healthcare
- International Biomedical, Ltd
- Others
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Global Neonatal Thermoregulation Industry Segmentation by Category
Product Type
- Warmer
- Radiant Warmer
- Wall Mount Warmer
- Neonatal Incubators
- Intensive Care Incubator
- Hybrid Incubator
- Selective Close Care Incubators
- Transport Incubator
- Intensive Care Incubator
- Neonatal Cooling Systems
Modality
- Open
- Close
End User
- Hospitals
- Pediatric and Neonatal
- Intensive Care Units
- Others
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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