Market
Highlights:
It
is estimated that the Global Neonatal Thermoregulation Market is
expected to hold a market value of USD 500 million and register a CAGR ~ 5.0 %
during the forecast period of 2018–2023. Thermoregulation is the ability to create
equilibrium between heat production and heat loss in order to maintain body
temperature within a certain normal range. The provision of a thermoneutral
environment is an essential component of the immediate and long-term care of
newborn infants. With the surge in the birth rates of newborns, the equipment
used for blood sampling and monitoring the baby is steadily increasing.
According to a data published by the Centers for Disease Control and Prevention
in January 2017, there were 3,945,875 births in the US in 2017. This means
birth rate in US in 2017 was 12.2 per 1000 population. Moreover, rising
prevalence of diseases in neonates fuels the growth of the market. However,
stringent government regulation for product approval and possible side-effects for
the neonates may hamper the market growth during the assessment period.
The
global neonatal thermoregulation market is currently dominated by many market
players. The key players in the market are engaged in new product launches and
strategic collaborations to strengthen its market position. For instance, in
November 2016, Drägerwerk AG & Co. KGaA introduced IncuWarmer Babyleo TN500
which offers optimal thermoregulation in open care, closed care and transition
to the premature baby.
Regional
Analysis:
The
Americas is anticipated to dominate the global neonatal thermoregulation market
owing to a well-developed healthcare sector, and rising prevalence of diseases.
The involvement of government in creating awareness about the neonatal diseases
also fuels the growth of the market. For instance, US government has programs
like Screening Quality Assurance Programs and Heritable Disorders Program at
Health Resources and Service Administration (HRSA). Thus, such initiatives and
programs by the government as well as non-government organizations support the
market growth. Europe is expected to hold the second largest position in the
global neonatal thermoregulation market. The market growth in this region is
attributed to the availability of funds for research. Asia-Pacific is
anticipated to be the fastest growing region in the market due to the presence
of a huge patient population, and continuously developing economies, According
to a report published by the International Journal of Social and Developmental
Concerns in October 2017, in Malaysia, growth of the public primary as well as
secondary care facilities has decreased in the past few years and it has not
kept pace with the rapid urbanization. Thus, such factors restraint the growth
of the market in this region. On the other hand, the Middle East & Africa
has the least share of the market.
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