Neonatal Intensive Care Market Analysis

Global Neonatal Intensive Care Market Overview

The Neonatal Intensive Care Market was valued at USD 9.86 billion in 2023.

The industry is projected to grow from USD 10.49 billion in 2024 to USD 17.0 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.22% during the forecast period (2024 - 2032).

The rising incidences of pre-term births and advancements in neonatal care technology are driving the market growth.

  Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

• Neonatal Intensive Care Market Trends

Rising Incidences of pre-term births

Preterm births are an important reason for public health concern and have been a major driving force for the Neonatal Intensive Care Market. According to the WHO, preterm birth is birth before 37 weeks of gestation and around 13.4 million babies were born preterm in 2020. The increasing prevalence of preterm births is attributed to various factors, including maternal health, lifestyle choices, and socio-economic conditions, all of which necessitate enhanced neonatal care services.

The main cause of the rise of preterm birth is due to high-risk pregnancies. Other risk factors include advanced maternal age; most women in this group often experience increased medical complications, which raise their incidence rate of preterm delivery. These women are usually aged 35 years and above, hence prone to health problems like hypertension or diabetes that raise the possibility of a preterm baby. A second risk factor is multiple pregnancies, which, with more people using assisted reproductive technologies, they are increasingly common and greatly increase the risk for premature delivery.

The Centers for Disease Control and Prevention report indicates that since the year 1980, the number of multiple births has increased by more than 75 percent, partly contributing to the rising numbers of preterm delivery. Among lifestyle factors, apart from maternal age and multiple pregnancies, poor nutrition during pregnancy, smoking, substance abuse, and inadequate prenatal care have been identified as major risk factors for preterm births. Compared to non-smokers, research finds out that the smoking of a woman during pregnancy predisposes her to risk 40% for a premature delivery. Also, socio-economic condition including stress and lack of access to health education have been associated with higher risks of preterm delivery.

Neonatal Intensive Care Market Segment Insights

Global Neonatal Intensive Care Product Insight

Based on Product, the Neonatal Intensive Care Market has been segmented into Incubator, Warmer, Respiratory Equipment, Phototherapy Equipment, and Surgical and Monitoring Equipment. The incubator segment held the largest market in 2023, and the respiratory equipment segment is the fastest growing segment during the forecast period. Incubator is further segmented into Open Incubator, Closed Incubator, Transport Incubator and Warmer-Cum-Incubator (Convertible Unit). Warmer is further segmented into Radiant Warmers, Transport Warmers, and others. Respiratory Equipment is further segmented into Resuscitator, Ventilator, CPAP Machines, Oxygen Therapy Devices, and Accessories. Phototherapy Equipment is further divided into Bili Lights, Accessories. Surgical and Monitoring Equipment is further segmented into C-Arm Machine, Defibrillator, Anesthesia Machine, Cardiac Monitors, Pulse Oximeters, Temperature Monitors, Therapeutic Hypothermia (HIE) Equipment, Fetal Monitoring Equipment, and others. Fetal Monitoring Equipment is further bifurcated into External Fetal Monitors and Internal Fetal Monitors.

Figure 2: Neonatal Intensive Care Market SIZE, BY PRODUCT, 2023 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Global Neonatal Intensive Care End-Users Insights

Based on End user, the Neonatal Intensive Care Market has been segmented into Hospitals and Maternal-Fetal Medicine Centers. The hospitals segment held the largest market in 2023, and the maternal-fetal medicine centers segment is the fastest growing segment during the forecast period.

Hospital segment is driving due to increasing awareness among parents and healthcare providers regarding the importance of neonatal care has led to a greater demand for specialized hospitals. Furthermore, government initiatives and support from organizations such as WHO and UNICEF promote the establishment and expansion of neonatal intensive care units (NICUs). These initiatives often provide funding and resources to healthcare facilities, increasing access to neonatal care. Also, increasing rate of preterm births worldwide significantly contributes to the demand for neonatal intensive care hospitals.

Global Neonatal Intensive Care Regional Insights

Based on region, the Neonatal Intensive Care Market has been segmented into North America, Europe, Asia-Pacific, India and Rest of the World. North America accounted for the largest market share in 2023. However, Asia-Pacific is projected to grow at the highest CAGR of 9.84% during the forecast period.

The Neonatal Intensive Care Market in North America is rapidly evolving, reflecting significant rise in premature births due to various factors, including maternal health issues, lifestyle choices, and multiple pregnancies. Furthermore, increased awareness regarding neonatal health and advancements in healthcare practices contribute to higher neonatal care. Also, increased spending on healthcare services and infrastructure supports the expansion of neonatal intensive care.

The Neonatal Intensive Care Market in Europe is experiencing significant growth, driven by growing public awareness regarding neonatal health and the importance of specialized care boots the demand of NICU service. Furthermore, high level of technological innovation in neonatal products, ensuring better patient outcomes.

Asia-Pacific region, with countries like India and China, continues to have a relatively high birth rate, driving the demand of neonatal intensive care services. Also, increasing number of highly trained neonatologists and healthcare professionals with expertise in neonatal care and rapid expansion of private hospitals and healthcare facilities in countries like China, and Southeast Asia is enhancing the accessibility of neonatal intensive care units (NICUs).

Furthermore, Rest of the world is further divided into Middle East & Africa and South America.

Figure 3: Neonatal Intensive Care Market BY REGION 2023 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Global Neonatal Intensive Care Key Market Players & Competitive Insights

The Neonatal Intensive Care Market is distinguished by the presence of numerous regional and local players catering to the Neonatal Intensive Care Market. Furthermore, rising incidence of preterm births and the advancements in neonatal care technology is the major factors driving the growth of the Neonatal Intensive Care Market. 

The Neonatal Intensive Care Market is extremely competitive, with players competing and investing heavily in the development of innovative products to gain a significant market share. The market is highly fragmented with high competition in the market, increasing collaborative partnerships, and other strategic decisions to achieve operational efficiency. 

The growth of prominent industry players is dependent on various factors, such as market conditions, product differentiation and innovation, and pricing strategies. It is also projected that the growing investment in R&D is anticipated to create lucrative opportunities for the market.

Major players in the Neonatal Intensive Care Market, including GE Healthcare, Koninklijke Philips N.V., Dragerwerk AG & Co. KGaA, Nihon Kohden, Medtronic Plc, and others are making investments in R&D activities to boost market demand.

For Instance, BPL Medical Technologies, an Indian multinational established in 1967, is at the forefront of innovation in medical technology, consistently building a legacy of trust and quality. Renowned for its reliable medical equipment and dependable service, BPL has earned certification from national and international quality agencies, ensuring that its products meet rigorous standards. With a commitment to "Make in India," BPL delivers exceptional quality at unmatched value, solidifying its position as the number one choice for hospitals, clinics, and practicing physicians across the country. BPL Medical Technologies boasts a robust research and development team dedicated to designing and developing cutting-edge medical devices. The company has evolved into one of India's largest medical device manufacturers, offering a diverse range of solutions across six key segments: Cardiology, Critical Care & Surgery, Women & Child Care, Imaging, Homecare, and Consumables & Accessories.

Moreover, In September 2022, BPL Medical Technologies has announced the inauguration of its second manufacturing facility, strategically located in Bangalore. Spanning approximately 80,000 square feet, this state-of-the-art facility will enhance the company’s manufacturing and assembly capabilities supported by the government’s favorable regulations and the Production-Linked Incentive (PLI) scheme, BPL is poised to extend its vertical integration across many of its world-class high quality products This expansion further solidifies the company’s commitment to the "Make in India" initiative, reinforcing its role in advancing the medical technology landscape in the country.

Key Companies in the Neonatal Intensive Care Market include

• GE Healthcare (US)


• Koninklijke Philips N.V. (Netherlands)


• Schiller Healthcare India Pvt. Ltd. (India)


• Mindray (China)


• Drägerwerk AG & Co. KGaA (Germany)


• Nihon Kohden Corporation (Japan)


• Medtronic (Ireland)


• Shenzhen Comen Medical Instruments Co., Ltd. (China)


• Fanem (Brazil)


• Natus (US)

Global Neonatal Intensive Care Industry Developments

September 2022: BPL Medical Technologies has announced the inauguration of its second manufacturing facility, strategically located in Bangalore. Spanning approximately 80,000 square feet, this state-of-the-art facility will enhance the company’s manufacturing and assembly capabilities supported by the government’s favorable regulations and the Production-Linked Incentive (PLI) scheme, BPL is poised to extend its vertical integration across many of its world-class high quality products This expansion further solidifies the company’s commitment to the "Make in India" initiative, reinforcing its role in advancing the medical technology landscape in the country.

January 2021: The Zhejiang Excellent Industrial Products Evaluation Board recently announced its list of “2020 Zhejiang Excellent Industrial Products,” and David Medical’s HKN-93C infant radiant warmer and NBP-I jaundice treatment blanket were honored as standout products, earning recognition as exemplary industrial offerings from Zhejiang.

November 2020: Natus Medical Incorporated has announced its acquisition of Babybe GmbH, along with its patented remote mother-to-baby communication technology. This innovative technology will enhance Natus's already market-leading Newborn Care portfolio, further strengthening its commitment to improving neonatal care and communication between mothers and their infants. The integration of Babybe's solutions is expected to provide healthcare providers with advanced tools to support better maternal and infant health outcomes.

Neonatal Intensive Care Market Segmentation

• Incubators

• 
  
  
  
  • Open Incubator
  
  
  • Closed Incubator
  
  
  • Transport Incubator
  
  
  • Warmer-Cum-Incubator (Convertible Unit)
  
  
  
  


• Warmer

• 
  
  
  
  • Radiant Warmer
  
  
  • Transport Warmer
  
  
  • Others
  
  
  
  


• Respiratory Equipment

• 
  
  
  
  • Resuscitator
  
  
  • Ventilator
  
  
  • CPAP Machines
  
  
  • Oxygen Therapy Devices
  
  
  • Accessories
  
  
  
  


• Phototherapy Equipment

• 
  
  
  
  • Bili Lights
  
  
  • Accessories
  
  
  
  


• Surgical & Monitoring Equipment

• 
  
  
  
  • C-Arm Machine
  
  
  • Defibrillator
  
  
  • Anesthesia Machine
  
  
  • Cardiac Monitors
  
  
  • Pulse Oximeters
  
  
  • Temperature Monitors
  
  
  • Therapeutic Hypothermia (TH) Equipment
  
  
  • Fetal Monitoring Equipment
  
  
  
  

• 
  
  
  
  • 
    
    
    
    • External Fetal Monitors
    
    
    • Internal Fetal Monitors
    
    
    
    
  
  
  
  

• Others

• 
  
  
  
  • Hospitals
  
  
  • Maternal-Fetal Medicine Centers
  
  
  
  

Global Neonatal Intensive Care Regional Outlook

North America

• 
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  

Europe

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  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  

Asia-Pacific

• 
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  

Rest of the World

• 
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • South America