Published By : 15 Nov 2016 | Published By : QYRESEARCH
Neonatal equipment is a category of medical devices including a diverse range of medical systems specialized to monitor newborn babies and correct complications that can arise during birth. Neonatal equipment plays a crucial role in ensuring the health of the newborn in the first few days, as babies are highly susceptible to pathogens and need constant monitoring. The high share of neonatal deaths in overall child death figures–about 40% of the total child death incidents involve newborns–makes neonatal equipment important for the global healthcare sector.
Rising Public Awareness to Help Neonatal Equipment Industry Gain Steady Government Support
The increasing awareness among the general population about the key role played by neonatal care in keeping newborns healthy is a leading driver for the neonatal equipment market. As a result of this, many emerging economies are witnessing proactive government efforts to aid the widespread adoption of technologically sophisticated neonatal equipment. This is expected to be an important driving factor for the global neonatal equipment market in the coming years.
The consistent innovation in the technology and design of medical devices is another key driver for the neonatal equipment market. The iterative progress in the comfort, efficiency, and accuracy of neonatal equipment has boosted the demand for it in countries across the world. The steady expected rise in healthcare investment in developed as well as developing economies in the coming years is thus expected to help ensure steady growth of the global neonatal equipment market.
Demand for Neonatal Equipment Likely to be Dominated by North America
Geographically, North America is the dominant revenue generator in the global neonatal equipment market. The dominance of this regional market is mainly due to the easy availability of the latest healthcare technologies in North America. The high government support to the same has further facilitated easy incorporation of advances in neonatal equipment in North America and is likely to remain a leading driver for the regional market in the coming years. Though North America is likely to remain the leading regional market for neonatal equipment in the coming years, the demand for neonatal equipment is also likely to rise in Asia Pacific.