by The neonatal thermoregulation devices market has been gaining significant traction over the past few years owing to the rising instances of preterm births worldwide. Thermoregulation devices help maintain optimum body temperature for neonates, especially preterm infants having compromised thermoregulation ability. These devices aid in stabilizing infants’ temperatures during transition from womb to external environment, as well as during nursing, examination, and transport. Various types of neonatal thermoregulation devices available in the market include neonatal incubators, neonatal cooling systems, and neonatal warming devices. Incubators provide clinically controlled thermal protection and physiological support to infants with very low birth weights. Cooling systems are used for neuroprotection of infants at risk of hypoxic-ischemic encephalopathy, while warming devices assist with stabilizing body temperatures of stable newborns. Rising cases of preterm births along with increasing awareness regarding complications associated with hyper/hypothermia in neonates have driven the demand for neonatal thermoregulation devices globally.
The Global neonatal thermoregulation devices market is estimated to be valued at US$ 47.27 Mn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in The Neonatal Thermoregulation Devices are Sysmex Corporation (Japan), Danaher Corporation (US), Nihon Kohden (Japan), Siemens (Germany), Abbott (US), Boule Diagnostics (Sweden), HORIBA (Japan), Bio-Rad Laboratories (US), BioSystems (Spain), Diatron (Hungary), Drew Scientific (US), EKF Diagnostics (UK), Mindray (China), Ortho Clinical Diagnostics (US), and Roche (Switzerland), among others. These players are focusing on new product launches and enhancing their geographical presence through strategic mergers and acquisitions to strengthen their market position.
The rising incidence of preterm births globally is expected to generate significant demand for neonatal thermoregulation devices. According to the World Health Organization (WHO), an estimated 15 million babies are born preterm every year. Developing regions such as Asia Pacific and Latin America are expected to offer lucrative growth opportunities owing to increasing healthcare expenditures.
North America currently dominates the global market and is expected to maintain its lead over the forecast period. However, Asia Pacific is likely to witness the highest growth rate during the forecast period owing to growing per capita income, rapidly developing healthcare infrastructure and expanding insurance coverage in the region. Improving access to advanced neonatal care in countries such as China and India are supporting the regional market growth.
Market Drivers
The rising prevalence of neonatal complications worldwide due to preterm births is a key factor augmenting the demand for neonatal thermoregulation devices. Preterm birth can increase the risk of various health issues such as breathing problems, feeding difficulties, developmental delays, cerebral palsy and vision/hearing problems. The global burden of preterm birth complications cost nearly US$26.2 billion in 2015. Hence, thermoregulation solutions play a critical role in preventing complications arising from hypothermia/hyperthermia in preterm and low-birth weight babies. Favorable government initiatives and increasing healthcare expenditures are also positively impacting market growth. Growing awareness about benefits of thermoregulation devices and focus on adopting advanced infant care solutions are likely to further fuel the market expansion over the coming years.
PEST Analysis:
Political: Regulations regarding neonatal and pediatric health and safety can impact the neonatal thermoregulation devices market. Stringent quality standards and approval processes affect market entry of new devices.
Economic: Growing per capita income and healthcare spending in developing economies boost demand for advanced neonatal care devices including thermoregulation devices.
Social: Rising awareness about infant care and increased focus on neonate health safety foster adoption of thermoregulation devices across clinical setups.
Technological: Continuous technological advancements help introduce innovative generations of neonatal incubators and radiant warmers with improved accuracy, portability, and safety features. Integration of remote monitoring capabilities also aids market growth.
Around 80% of the neonatal thermoregulation devices market value is concentrated in North America and Europe. High awareness levels, robust healthcare infrastructure and spending, and presence of leading industry players drive these regions. However, Asia Pacific is projected as the fastest growing regional market due to expansion of neonatal intensive care units, rising birth rates, and growing medical device industry in China and India.
Latin America and the Middle East & Africa present attractive prospects for neonatal thermoregulation device manufacturers. This is attributed to growing healthcare access, rising discretionary spending on pediatric care, and increasing government investments towards reducing infant mortality rates across several countries.
