Infant Incubator Market Statistics 2021 – 2030
The global infant incubator market size was valued at $ 537 Million in 2020, and is projected to reach $1,044 Million by 2030 registering a CAGR of 6.8% from 2021 to 2030. Infant incubator is a rigid box-like chamber in which newborn babies are kept for observation and care. The infant incubators are common to pediatric hospitals and neonatal intensive care units. The infant incubator is majorly used for babies born prematurely or with disability that makes them especially vulnerable for the first several months of life.
Increase in birth rate of premature infants drives the growth of the infant incubator market. In addition, increase need for installation of NICU units and rise in awareness among individuals regarding neonatal care fuel growth of the market. However, high cost of infant incubator and lack of awareness & poor accessibility toward neonatal care in emerging nations are expected to hinder growth of the market during the forecast period. On the other hand, technological advancements in neonatal care devices are expected to offer profitable opportunities for growth of the market during the forecast period.
Impact Of Covid-19 On Infant Incubator Market (Pre And Post Analysis)
The outbreak of COVID-19 has disrupted workflows in the healthcare sector around the world. The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of healthcare. The global infant incubator market growth declined in 2020 due to global economic recession led by COVID-19. For instance, Drager noted a decrease in thermoregulation equipment demand in first quarter of 2020, as hospitals around the world were completely focused on the COVID-19 situation, and gave low priority to services, which are not affected by the pandemic.
In many countries, COVID-19 has suppressed population growth by causing a decline in births rates. For instance, according to the Guttmacher Institute Study 2020, 40% of women reported changes in plans for childbearing due to the COVID-19 pandemic, 41% of women with children reported worry about being able to take care of their children, and 33% of women had to delay or cancel an appointment for reproductive health or contraception care. Thus, decline in birth rates indirectly affect the infant incubator market. In addition, according to the U.S. Census Bureau, around 285,138 births were reported in December 2020—23,664 (7.66%) fewer than in December 2019. On an average, there were 763 fewer births each day in December 2020 than in December 2019.
Moreover, babies under age 1 might be at higher risk of severe illness with COVID-19 than older children. According to the Centers for Disease Control and Prevention (CDC) surveillance report, from March 29–October 14, 2020, 923 newborns were born to women with COVID-19; among these newborns, 2.6% tested positive for SARS-CoV-2 after birth. However, isolette incubators do not provide the same environmental protection as use of negative pressure or air filtration. Thus, new incubators are unlikely to be purchased for these babies as incubators do not really play a major role in protecting babies from COVID-19.
Infant Incubator Market Segmentation
The global infant incubator market is segmented into product, application, end user, and region to provide a detailed assessment of the market. By product, the market is fragmented into hybrid incubator, normal incubator, and transport incubator. On the basis of application, it is segregated into neonatal hypothermia & low birth weight, jaundice, and others. Depending on end user, it is categorized into hospitals, maternity hospitals, and neonatal & pediatric hospitals. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Product
Normal Incubator segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
Segment Review
Depending on product, the market is segmented into hybrid incubator, normal incubator, and transport incubator. The normal incubator segment dominated the global market in 2020, and is expected to remain dominant throughout the forecast period, owing to factors such as increase in birth rate of premature infants with lower birth weights and rise in the number of NICU installations by hospitals of both developed and developing countries.
On the basis of application, the market is segregated into neonatal hypothermia & low birth weight, jaundice, and others. The neonatal hypothermia & low birth weight segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to increase in prevalence of neonatal hypothermia, as preterm and low birth weight neonates specifically are more susceptible to hypothermia. By end user, is the market is classified into hospitals, maternity hospitals, and neonatal & pediatric hospitals. The neonatal & pediatric hospital held the largest market share in 2020, and is expected to remain dominant throughout the forecast period, owing to surge in admissions of neonates with preterm birth in neonatal & pediatric hospitals as well as increase in the number of NICU installations in neonatal & pediatric hospitals.
By Application
Neonatal Hypothermia and Low Birth Weight segment is projected as one of the most lucrative segment.
Snapshot Of The Asia-pacific Infant Incubator Market
The Asia-Pacific infant incubators market is expected to register the highest growth throughout the study period. This is attributed to increase in healthcare spending and advancements in neonatal care technology. Moreover, high incidence of multiple births and preterm birth rates in region has attracted key players to invest in Asia-Pacific, which notably contributes toward the growth of the market.
The key market players profiled in the report include Atom Medical Corporation, Bistos Co., Ltd., Drägerwerk Ag, Fanem Ltd., General Electric Company (GE Healthcare), Medicor Elektronika Zrt., Médipréma Group, Ningbo David Medical Device Co. Ltd., Phoenix Medical System Pvt. Ltd, Zhengzhou Dison Instrument and Meter Co. Ltd.
By Region
North America is expected to experience growth of CAGR of 5.1 % during the forecast period.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global infant incubator market along with the current trends and future estimations to explain the imminent investment pockets.
- A comprehensive analysis of the factors that drive and restrict the infant incubator market growth is provided in the report.
- Comprehensive quantitative analysis of the industry from 2020 to 2030 is provided to enable the stakeholders to capitalize on the prevailing infant incubator market opportunities.
- Extensive analysis of the key segments of the industry helps to understand the application and products of infant incubator used across the globe.
- Key market players and their strategies have been analyzed to understand the competitive outlook of the infant incubator market.
Infant Incubator Market Report Highlights
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Analyst Review
The global infant incubator market is expected to exhibit high growth potential attributed to increase in demand for infant incubator, owing to rise in birth rate of premature infants, surge in installation of NICU units, and rise in awareness among individuals regarding neonatal care.
The market in North America is expected to witness the highest growth, in terms of revenue, owing to presence of well-established NICUs & neonatal care, presence of key players for manufacturing of infant incubator, higher buying power, and surge in healthcare expenditure.
Europe was the second largest contributor to the market in 2020, and is expected to register the fastest CAGR during the forecast period, owing to rise in awareness among patients and physicians about the availability of advanced infant incubator coupled with advanced healthcare infrastructure in the region. However, Asia-Pacific is expected to emerge as a lucrative market with maximum growth potential, owing to the rapidly developing healthcare infrastructure and rise in healthcare initiatives by governments of this region.
The total market value of infant incubator market is $537 million in 2020.
The forcast period for infant incubator market is 2021 to 2030
The market value of infant incubator market in 2030 is $1,044 million.
The base year is 2020 in infant incubator market
Top companies such as General Electric Company, Drägerwerk Ag, Atom Medical Corporation, Fanem Ltd., and Ningbo David Medical Device Co. Ltd. held a high market position in 2020.
Normal Incubator segment is the most influencing segment owing to increase in birth rate of premature infants with lower birth weights and rise in the number of NICU installations by hospitals of both developed and developing countries.
increase in demand for infant incubator, owing to rise in birth rate of premature infants, surge in installation of NICU units, and rise in awareness among individuals regarding neonatal care are expected to propel growth of the infant incubator market during the forecast period.
Asia-Pacific is expected to experience the highest growth rate during the forecast period, owing to rise in inclination toward adoption of advanced infant incubators for monitoring and diagnosis of neonates. In addition, improvements in healthcare infrastructure and increase in premature babies are the factors expected to drive the market growth.
An infant incubator or neonatal incubator is a device that has a rigid box-like enclosure in which a preterm infant is kept.
Infant incubator used to provides a controlled environment for premature babies that warms infants by circulating heated air over the skin
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