Latin America Neonatal Care Devices

Latin America Neonatal Care Devices Market Research Report: Forecast (2023-2028)

By Equipment (Incubators, Infant Warmers (Electric Warmers, Non-Electric Warmers), Phototherapy Equipment (Conventional Phototherapy, Fibre-Optic Phototherapy), Respiratory Devices (Neonatal Ventilato Read more

  • Healthcare
  • Nov 2022
  • 156
  • HC22101

Market Definition

Neonatal care is the kind of care a baby born premature or sick receives in a neonatal unit. These units are a part of a hospital intended for providing care to babies who are either born prematurely (before 37 weeks’ gestation) or have some medical conditions that require immediate attention. Unusually low birthweight newborn also needs such neonatal care units. Since the first 28 days of the baby’s life is the most crucial stage for a child’s survival, intensive care and advanced treatment have become paramount to neonates, especially in these last three decades.

Market Insights

The Latin America Neonatal Care Devices Market is projected to grow at a CAGR of around 5.9% during the forecast period, i.e., 2023-28. The emerging incidences of newborn jaundice and escalating preterm birth cases are the prominent factors stimulating the market growth during the forecast period. Besides, the mounting birth rate accompanying cesarean sections and increased complications during childbirth are some of the aspects backing the broad adoption of neonatal care devices from the healthcare ecosystem across Latin America. A swift surge in the number of Neonatal Intensive Care Units (NICU) demonstrated by the technologically advanced countries across the region has called for more such equipment to cater to the rising admissions of premature babies. These devices are fundamental to the NICU as they facilitate non-invasive, life-sustaining, developmentally supportive care to neonates.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 5.9%
Country Covered Mexico, Brazil, Argentina, Colombia, Rest of Latin America
Key Companies Profiled Atom Medical Corporation, Becton, Dickinson and Company, Fanem, GE Healthcare, Koninklijke Philips N.V., Masimo Corporation, Medtronic Plc, Natus Medical Incorporated, Nihon Kohden, Others
Unit Denominations USD Million

 

As per the Organization for Economic Cooperation and Development (OECD) Health stats, the infant mortality, with no minimum gestation period or birthweight in Colombia, for 2020 and 2021 was reported as 16.8 and 16.5 per 1000 live births, respectively. An adequate number of neonatal care devices is likely to minimize prematurely born mortality cases. As a result, the demand for neonatal care devices has up-scaled across Latin American countries. This aspect is anticipated to emerge as an opportunity for the market players willing to make a substantial investment in the coming years.

Key Trends in the Latin America Neonatal Care Devices Market

  • Growing Instances of Pre-Term Mortality Across Latin America

Latin American Centre for Perinatology (CLAP), a part of The Pan American Health Organization (PAHO), through its recent awareness campaign, seeks to encourage quality care for neonates during the first 28 days that exhibit the higher risk of infant mortality. In Latin America and the Caribbean, 7 out of every 1,000 infants fail to reach their one-month birthday. This rate ranges from 1.7 infants in Aruba and 2.3 in Cuba to 18 in the Dominican Republic. Most of these deaths are preventable yet account for almost half of all deaths during the first year of life, states the organization. In order to deal with complications associated with preterm infants, more advanced and effective neonatal care devices such as infant incubators, neonatal ventilators, oxygen analyzers & monitors, and resuscitators have emerged in the market in recent years.

Market Segmentation

Based on End User,

  • Hospitals
  • Clinics
  • Diagnostic Centers

Here, the Hospitals acquired a sizable market share of the market in the historical period. It is because Hospitals provide continuous access to services for acute and complex illnesses, which complements and improves the performance of many other units of the healthcare system. To protect the safety of infants in hospitals, medical equipment makers offer a variety of infant care devices. In neonatal intensive care units, these devices facilitate care to newly born when combined with various techniques and tools. These technically equipped facilities support the infant by creating a comfortable atmosphere and routinely tracking their bodily growth and vital organs. Incubators, which include several therapeutic pieces of equipment, including heat transport incubators and neonatal device care, assist in monitoring a premature baby's lungs and other organs.

Regional Projection

Geographically, the Latin America Neonatal Care Devices Market expands across:

  • Brazil
  • Argentina
  • Mexico
  • Colombia
  • Rest of Latin America

Geographically, Brazil is anticipated to contribute substantially to the market expansion during the forecast period. Such significant participation primarily attributes to the rising number of preterm births resulting in advanced and innovative neonatal-equipped care units and equipment across the region. Moreover, the mounting awareness regarding preterm babies has compelled clinics and hospitals to replace existing devices for better childcare. In order to sate these replacement demands, leading players like Fanem are constantly coming up with numerous neonatal products like Hybrid Intensive Care Unit, Infant Warmer and Total Care, Bassinets, Neonatal Bubble CPAP, and many more. Besides, escalating infant and neonatal mortality rates put forth the need for better and adequate devices for neonatal care. UNICEF, for instance, has demonstrated that nearly 12 infants per 1,000 births die during the first 28 days of life in Brazil, and about 14% of these deaths are due to preventable infections.

On the other hand, Argentina demonstrated a notable growth in the historical period and is likely to accelerate in the coming years. It owes principally to the substantial funding received by healthcare due to the growing patient pool across the country. Moreover, a swift surge in the number of dedicated private hospitals and diagnostic centers for newborns has again necessitated more neonatal care devices across the country, thereby encouraging market expansion.

Market Dynamics

Key Driver: Growing Propensity for Advanced Featured Neonatal Care Devices

The growth of the neonatal care devices market has been fueled by features such as lightweight, compact, advanced, and remote-based monitoring that have made it possible for end-users to rely on efficient neonatal care machines. Proper prenatal care and appropriate medical care are crucial for a healthy pregnancy. The industry has been pushed to develop safe, effective, and reasonably priced products owing to the rise in demand for more tailored and advanced diagnosis methods and the accessibility of numerous healthcare services across Latin America. The market for neonatal care devices shall continue to rise rapidly due to the higher adoption of integrated and multifunctional newborn care equipment across the region.

Possible Restraint: Associated High Costs to Impede the Possible Growth

The elevated pricing of advanced neonatal care equipment is anticipated to restrain the Latin American neonatal care devices market during the forecast period. Besides, the growing propensity for refurbished devices across developing countries is expected to challenge market growth in the coming years. Another factor hampering the expansion of the industry is the stringent regulatory policies for new device approvals of cutting-edge neonatal care devices.

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Latin America Neonatal Care Devices Market?
  2. What are the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Latin America Neonatal Care Devices Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Latin America Neonatal Care Devices Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Latin America Neonatal Care Devices Market study?

Frequently Asked Questions

A. The Latin America Neonatal Care Devices Market is projected to grow at a CAGR of around 5.9% during 2023-28.

A. Growing propensity for advanced featured neonatal care devices is expected to drive the Latin America Neonatal Care Devices Market during 2023-28.

A. The leading players in the Latin America Neonatal Care Devices Market are Atom Medical Corporation, Becton, Dickinson and Company, Fanem, GE Healthcare, Koninklijke Philips N.V., Masimo Corporation, Medtronic Plc, Natus Medical Incorporated, Nihon Kohden, Others.

A. ‘Hospitals’ Segment is anticipated to emerge as an area of remunerative opportunities for the leading players in the Latin America Neonatal Care Devices Market during the forecast period.

A. ‘Brazil’ is anticipated to dominate the Latin America Neonatal Care Devices Market during 2023-28.

A. Growing instances of pre-term mortality across Latin America is shaping the growth of the Latin America Neonatal Care Devices Market during 2023-28.

A. The higher pricing of advanced neonatal care devices is anticipated to restrain the Latin America Neonatal Care Devices Market during the forecast period.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Impact of COVID-19 on Latin America Neonatal Care Devices Market
  5. Latin America Neonatal Care Devices Market Trends & Insights
  6. Latin America Neonatal Diseases Clinical Trial Analysis
  7. Latin America Neonatal Care Devices Market Dynamics
    1. Growth Drivers
    2. Challenges
  8. Latin America Neonatal Care Devices Market Policies, Regulations, Product Standards  
  9. Latin America Neonatal Care Devices Market- Supply Chain Analysis
  10. Latin America Neonatal Care Devices Market Hotspot & Opportunities
  11. Latin America Neonatal Care Devices Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1.  By Revenue (USD Million)
    2. Market Size & Analysis
      1.  By Equipment
        1. Incubators
        2. Infant Warmers
          1. Electric Warmers
          2. Non-Electric Warmers
        3. Phototherapy Equipment
          1. Conventional Phototherapy
          2. Fibre-Optic Phototherapy
        4. Respiratory Devices
          1. Neonatal Ventilators
          2. Oxygen Analysers and Monitors
          3. Continuous Positive Airway Pressure (CPAP) Devices
          4. Resuscitators
          5. Others (Endotracheal tubes, umbilical artery catheter, etc.)
        5. Neonatal Monitoring Devices
          1. Blood Pressure Monitors
          2. Pulse Oximeters
          3. Cardiac Monitors
          4. Others (Capnography, Integrated Monitoring Devices, etc.)
        6. Diagnostic Imaging Devices
          1. Ultrasound Systems
          2. X-Ray Imaging Systems
          3. Others (CT, Radiography, etc.)
      2. By End User
        1. Hospitals
        2. Clinics
        3. Diagnostic Centres
      3. By Country
        1. Brazil
        2. Argentina
        3. Mexico
        4. Colombia
        5. Rest of Latin America
      4. By Company
        1. Competition Characteristics
        2. Revenue Shares
  12. Brazil Neonatal Care Device Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1.  By Revenue (USD Million)
    2. Market Size & Analysis
      1. By Equipment
      2. By End-User
  13. Argentina Neonatal Care Device Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1.  By Revenue (USD Million)
    2. Market Size & Analysis
      1. By Equipment
      2. By End-User
  14. Mexico Neonatal Care Device Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1.  By Revenue (USD Million)
    2. Market Size & Analysis
      1. By Equipment
      2. By End-User
  15. Colombia Neonatal Care Device Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1.  By Revenue (USD Million)
    2. Market Size & Analysis
      1. By Equipment
      2. By End-User
  16. Latin America Neonatal Care Devices Market Key Strategic Imperatives for Success & Growth
  17. Competition Outlook
    1. Competition Matrix
      1. Product Portfolio
      2. Target Markets
      3. Research & Development
      4. Strategic Alliances
      5. Strategic Initiatives
    2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Atom Medical Corporation
      2. Becton, Dickinson and Company
      3. Fanem
      4. GE Healthcare
      5. Koninklijke Philips N.V.
      6. Masimo Corporation
      7. Medtronic Plc
      8. Natus Medical Incorporated
      9. Nihon Kohden
      10. Others
  18. Disclaimer
Latin America Neonatal Care Devices Market Segmentation Slide