Neonatal Intensive Care Unit Market Size, Share, Industry, Forecast and outlook (2024-2031)

Globak Neonatal Intensive Care Unit Market is segmented By Product Type (Incubators, Neonatal Monitoring Devices, Phototherapy Equipment, Infant warmers, Convertible warmers, Others), By Application (Neonatal Hypothermia, Lower Birth Weight, Central Line-Associated Bloodstream Infections (CLABSIs), Premature Birth, Others), By End-User (Neonatal Intensive Care Units (NICU) Centers, Childcare Clinics, Pediatric Hospitals, Government Hospitals, Private Hospitals, Birthing Centers, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Neonatal Intensive Care Unit Market Overview

180 pages report analyses the Neonatal Intensive Care Unit Market Size, Trends and Growth. Neonatal intensive care unit market is estimated to reach at a CAGR of 4.19% during the forecast period (2023-2030). Increasing preterm birth rates globally and a rise in the demand for high-quality care for newborns will drive the neonatal intensive care unit market growth. North America region holds the largest market share of global neonatal intensive care unit market. Competitive rivalry intensifies with Drägerwerk AG & Co. KGaA, Masimo Corporation, Inspiration Healthcare Group Plc and others operating in the market.

Neonatal intensive care is also known as a special care nursery, newborn intensive care or intensive care nursery. In these units, premature babies have high complications as a very specialized or advanced equipped unit. Neonatal care is a special type of care given to premature babies with health complications such as difficulty gaining weight or breathing problems. Newborn babies who need intensive medical care are often put in a special area of the hospital called the neonatal intensive care unit (NICU).

Neonatal Intensive Care Unit Market Scope

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Neonatal Intensive Care Unit Market Dynamics and Trends

The neonatal intensive care unit market growth is driven by the rising premature birth, improving healthcare infrastructure, increase in technological advancement with the preference of multi-functional devices are other factors that will further propel the market in the coming future.

Rise in premature births and rise in NICU admissions, is expected to drive the growth in the forecast period

Sedentary lifestyle, is believed to be one of the major reasons for premature births, due to access intake of alcohol, tobacco, food habits are lack of fitness. These causes abnormalities (diabetes in young age, high blood pressure etc.,) in individual and can lead to premature births. The statistical increase of such population has paved an impact on global premature births. This eventually may lead to increased admission of premature babies in NICU. According to the report published by the Centers for Disease Control and Prevention (CDC) in 2018, around 2% to 10% of pregnancy cases in the United States are affected by gestational diabetes.

Increasing preterm birth rates globally and a rise in the demand for high-quality care for newborns will drive the neonatal intensive care unit market growth. According to a report published in the National Center for Biotechnology Information (NCBI), infant respiratory distress syndrome occurs in approximately 7% of preterm births. The growing prevalence of these co-morbid conditions in preterm births is likely to boost the NICU market in developed and emerging countries.

Additionally, rising awareness among the population in developing nations and neonatal care and the growing number of NICU admissions will likely boost the market's growth. According to Bliss, the leading U.K-based charity organization, around 100,000 babies, i.e., 1 in 7 babies born in the U.K., are admitted to a NICU every year, further accelerating the demand for neonatal intensive care units.

Decreasing birth rates, lack of awareness and economic constraints in developing and under-developed countries are likely to restrain the neonatal intensive care unit market growth.

The average cost for infants hospitalized in neonatal intensive care units is around $3,000 per day. While the average cost to an employer of a healthy baby born at full-term, or 40 weeks of gestation, is $2,830, the average cost for a premature baby is $41,610. Personnel costs accounted for 59.9%, followed by enteral/parenteral feeding (16.14%) and pharmaceuticals expenses (11.10%) of all resources consumed. Reimbursement should be adjusted to make neonatal intensive care economically viable to private hospitals and thus, increase the capacity of the services provided.

Decreasing birth rates in some economies are expected to hinder the growth of the global neonatal intensive care unit market over the forecast period. For instance, according to National Vital Statistics System, the provisional number of births for the U.S. in 2018 was 3,788,235, registering a decrease of 2% from 2017 and the lowest number of births in 32 years.

COVID-19 Impact On Neonatal Intensive Care Unit Market

Pandemic is disrupting most specialized healthcare services worldwide, including those for high-risk newborns and their families. Due to the risk of contagion, critically ill infants, relatives and professionals attending neonatal intensive care units (NICUs) are undergoing a profound remodeling of the organization and quality of care. In particular, mitigation strategies adopted to combat the COVID-19 pandemic may hinder the implementation of family-centered care within the NICU.

This may put newborns at risk for several adverse effects, e.g., less weight gain, more nosocomial infections, increased length of NICU stay, and long-term worse cognitive, emotional, and social development. According to the research paper published in E Clinical Medicine, indicate that the use of personal protective equipment, including face masks in neonatal care, as well as separation from the parents, alters parents’ as well as the healthcare professionals’ ability to communicate with the infant, potentially impacting the development of speech, language and communication.

Neonatal Intensive Care Unit Market Segmentation Analysis

The incubators segment is expected to hold largest share in this market segment

A neonatal incubator is an enclosure where an infant can be kept in a controlled environment for observation and care. The device may also include a heater, a fan, a container for water to add humidity, a control valve through which oxygen may be added, and access ports for nursing care. It is used in preterm births or ill full-term babies to observe and treat them in a stabilized environment. It may additionally be used to evaluate and treat sick neonates.

According to the Center for Disease Control and Prevention, the U.S. preterm birth rate declined 1% between 2019 and 2020. The percentage of newborns delivered preterm declined 1% in 2020, to 10.09% from 10.23% in 2019. Declines were seen in both late (7.46% to 7.40%) and early (2.77% to 2.70%) preterm births. It has been found that preterm birth babies may require more additional care. Hence, they may be kept under incubators for observation. As a result, the increasing preterm birth rate is expected to increase the demand for neonatal incubators, which will help the growth of this market.

The neonatal hypothermia segment is expected to hold largest share in this market segment

Hypothermia is common in infants born at hospitals, which leads to high demand for neonatal care units. For instance, according to the study, ‘Neonatal hypothermia and associated factors among neonates admitted to neonatal intensive care unit of public hospitals in Addis Ababa, Ethiopia,’ published in August 2018, the prevalence of neonatal hypothermia in the study area was 64%.

Neonatal Intensive Care Unit Market Geographical Share

North America region holds the largest market share of global neonatal intensive care unit market

North America includes the United States (US), Canada and Mexico. The US and Canada have well-structured and developed healthcare systems. These countries are found promoting research and development for pharmaceutical devices and hence have very high expenditure on healthcare. As a result of these policies, many companies globally are encouraged to operate in this region. For instance, Inspiration Healthcare Group plc announced the launch of the CosyTherm 2 Controller for neonatal care units. The company showcased its product offerings at MEDICA- the world's largest medical trade fair for medical technology, in November 2019, intending to strengthen its brand presence in the market.

Furthermore, owing to increasing prevalence of congenital disorders in new-born and increasing neonatal population in this region. For example, according to centers for disease control and prevention during 2018–2019, the preterm birth rate rose from 7.28% to 7.46%. Early preterm birth rates increased slightly between 2018 (2.75%) and 2019 (2.77%) among all births and among Hispanic births (2.56% to 2.61%). Another example is About 7,000 babies are born with a cleft palate, cleft lip or both each year in the United States.

Moreover, most of the population in developed countries like the US and Canada are covered under medical and health insurance and can afford these care units. Hence, the North American region is expected to cover a large share of the neonatal intensive care market.

Neonatal Intensive Care Unit Market Companies and Competitive Landscape

The global neonatal intensive care unit market is highly competitive with presence of global companies.  Some of the key players which are contributing to the growth of the market include Drägerwerk AG & Co. KGaA, Masimo Corporation, Inspiration Healthcare Group Plc, Phoenix Medical Systems (P) Ltd, Medtronic Plc, Koninklijke Philips N.V, Becton, Dickinson (BD) and Company, GE Healthcare, C. R. Bard and Cook Medical. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market globally. For instance, Drägerwerk AG & Co. KGaA received FDA approval Seattle Positive Airway Pressure (PAP) plus system for newborn with respiratory distress syndrome.

Neonatal Intensive Care Unit Market Key Companies to Watch

GE Healthcare

Overview: GE Healthcare is a subsidiary of American multinational conglomerate General Electric incorporated in New York and headquartered in Chicago, Illinois. As of 2017, the company is a manufacturer and distributor of diagnostic imaging agents and radiopharmaceuticals for imaging modalities used in medical imaging procedures. The company offers dyes that are used in magnetic resonance imaging procedures. GE Healthcare also manufactures medical diagnostic equipment, including CT image machines.

Product Portfolio: It develops health technology for medical imaging and information technologies, medical diagnostics, patient monitoring systems, disease research, drug discovery, and biopharmaceutical manufacturing.

Key Developments: On January 28th, 2019; GE Healthcare, launched for the first time in the Middle East its Lullaby Incubator XP and Lullaby Incubator TR. These new incubators provide for the management of thermally sensitive infants in Neonatal Intensive Care Units (NICU) and during transport.