April 13, 2024
Neonatal Thermoregulation Devices Market

The Global Neonatal Thermoregulation Devices Market Is Estimated To Propelled By Technological Advancements In Neonatal Care Devices

Neonatal thermoregulation devices are medical equipment used to regulate body temperature of infants, especially preterm and low birth weight babies. These devices help maintain optimal temperature for newborn infants who are unable to regulate their own temperature. They consist of radiant warmers, incubators, and other open care systems that provide a thermoregulated environment essential for the growth and health of premature babies.

The global Neonatal Thermoregulation Devices Market is estimated to be valued at US$ 47.27 Mn  in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Technological advancements in neonatal care devices have been a key trend spurring the growth of the neonatal thermoregulation devices market. Leading manufacturers have been developing innovative products equipped with advanced features to better assist premature infants. For instance, newer radiant warmers and incubators feature advanced temperature and humidity control, integrated monitoring systems, and connectivity capabilities for real-time data sharing. They also provide enhanced developmental support and easier portability for babies in the NICU. This has significantly improved neonatal care outcomes. growing focus on integrating smart technologies is expected to further drive the neonatal thermoregulation devices market during the forecast period.

SWOT Analysis

Strength: Neonatal thermoregulation devices offer precise temperature control to ensure optimal body temperature in newborns, which is critical for their health and survival. These devices help stabilize newborns’ temperature and avoid risks associated with overheating or hypothermia.

Weakness: High costs associated with neonatal thermoregulation devices can limit their adoption, especially in price-sensitive developing markets. Stringent regulatory approvals also increase time to market for new products.

Opportunity: Growing preterm birth rates worldwide present an opportunity to expand the neonatal thermoregulation devices market. Technological advancements are also enhancing functionality and flexibility of devices.

Threats: Alternate newborn warming methods like incubators, warmers, and radiant warmers compete with neonatal thermoregulation devices. Reimbursement issues in some countries can negatively impact market growth.

Key Takeaways

Global Neonatal Thermoregulation Devices Market Size is expected to witness high growth. The global Neonatal Thermoregulation Devices Market is estimated to be valued at US$ 47.27 Mn  in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2024 to 2031.

North America currently dominates the market and is expected to continue its leadership through the forecast period. This can be attributed to the rising awareness related to technologically advanced neonatal thermoregulation devices. Asia Pacific is anticipated to be the fastest-growing market owing to increasing patient population and healthcare expenditure.

Key players related

Key players operating in the neonatal thermoregulation devices market 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 focused on product innovation and expansion strategies to strengthen their global footprint.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it