Canada Fetal and Neonatal Care Equipment Market

Canada Neonatal & Prenatal Devices Market Analysis

The Canada Fetal and Neonatal Care Equipment Market is expected to register a CAGR of 7.1% during the forecast period.

Owing to the rapid evolution of the market in the use of new technology, medical device companies that are able to launch new innovative equipment will be rewarded with huge benefits. The increasing awareness for neonatal & prenatal care, rising incidence of preterm births, and increased demand for prenatal therapeutics, diagnostics, and monitoring devices are the major factors driving the growth of this market.

However, the rising cost of neonatal care, due to advancements in medical devices, is one of the major factors hindering the market

Canada Neonatal & Prenatal Devices Market Trends

Neonatal Care Equipment is Expected to Hold a Significant Market Share

Neonatal monitoring instruments and equipment are used in the neonatal intensive care unit (NICU), emergency room, and operating theatre at all levels of hospitals for continuous monitoring of the neonates and infants. The demand for this equipment has increased to increase in preterm births, even in developed. Preterm born babies are more prone to infections and diseases and require more care. According to an article published in 2018 by Prakesh S. Shah, 8% of pregnancies in Canada result in preterm birth. The Canadian Preterm Birth Network (CPTBN) is funded by the Canadian Institutes of Health Research and aims to expand existing neonatal platforms to develop a pan-Canadian network. Such initiatives help boost segment growth.

Canada Neonatal & Prenatal Devices Industry Overview

Companies, like Becton, Dickinson and Company, GE Healthcare, Koninklijke Philips NV, Masimo, Medtronic PLC, hold substantial shares in the fetal and neonatal care equipment market. Some of the strategies implemented include agreements, collaborative models, business expansion, and product developments

Canada Neonatal & Prenatal Devices Market Leaders