The global neonatal intensive care market revenue was around US$ 2.8 billion in 2021 and is estimated to reach US$ 4.6 billion by 2031, growing at a compound annual growth rate (CAGR) of 8.2% during the forecast period from 2022 to 2031.

A neonatal intensive care unit (NICU) is called an intensive care unit (ICU). It specializes in the treatment of sick or premature newborn infants. Neonatal refers to a child's first 28 days of life. Neonatal incubators, Infant ventilators, and infant warmers are just a few of the cutting-edge tools available in the neonatal intensive care unit (NICU).

Factors Influencing Market Growth

Increase in the prevalence of newborn disorders and difficulties, such as overweight and underweight babies, respiratory distress, and birth abnormalities, necessitating special care and admission to NICUs to boost the market growth.

Rising R&D efforts for improvements in neonatal intensive care and product approvals fuel the market expansion.

Rising pregnancy rates and growing concerns about newborn care may drive the market.

A surge in healthcare costs and better healthcare infrastructure in developing countries. Such, these factors propel the market growth.

Government initiatives to offer high-tech healthcare facilities at affordable prices boost market expansion.

An expansion in private hospitals and an increase in demand for modern newborn intensive care facilities. Thus, these factors contribute to driving the market.

Study of the COVID-19 Pandemic

The COVID-19 pandemic had a negative impact on the market. Due to the government enacted a lockdown, the supply chain was severely damaged. During the crisis, the healthcare sector provided life-saving and COVID-19-related items. In addition, the market's expansion is further constrained by the global economic downturn. However, neonatal intensive care market growth is expected to stabilize in the coming years and begin to recover in 2022.

Regional Insights

Asia-Pacific dominated the market in terms of the highest shares and is anticipated to dominate during the forecast period. This is attributed due to increased product launches, rising healthcare costs, and a sizable population in this region.

However, North America is anticipated to experience significant growth due to the region's established healthcare infrastructure, improvement in healthcare building, and the presence of important companies in this region.

Leading Competitors
The leading competitors in the global neonatal intensive care market are:
Medtronic PLC
Phoenix Medical Systems Pvt Ltd
3M Company
Medicor Elektronika
Vygon (UK) Ltd
Masimo Corporation
Ningbo David Medical Device Co Ltd
Mediprema Group
Siemens Healthcare GmbH
Atom Medica
AngioDynamics
Koninklijke Philips N.V
Terumo Corporation
Zhengzhou Dison Instrument and Meter Co. Ltd
Dr?gerwerk AG & Co
Fanem Medical Devices
GE Company
Others
Segmentation Analysis
The global neonatal intensive care market segmentation focuses on Product, Application, End User, and Region.
Segmentation based on Product
Warmers
Incubators
o Hybrid Incubator
o Normal Incubator
o Transport Incubator
Monitoring Devices
Respiratory Devices
Phototherapy Equipment
Others
Segmentation based on Application
Neonatal Hypothermia & Low Birth Weight
Jaundice
Others
Segmentation based on End User
Hospitals
Maternity Hospitals
Neonatal & Pediatric Hospital
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific

Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA

South America
Brazil
Argentina
Rest of South America