The global infant incubator market accounted for $268 million in 2016 and is expected to reach $401 million by 2023 with a CAGR of 5.9% from 2017-2023.
The infant incubator or neonatal incubator is a device that has a rigid box-like enclosure in which a preterm infant is kept. This device provides controlled environment for premature babies.
Infant incubator is majorly of two types-neonatal intensive care unit (NICU) incubator and transport infant incubator. The NICU incubator includes a heating element, a water bath to add humidity, a fan for forced convection, an oxygen inlet, and access port for nursing care.
Whereas, transport infant incubator is used to transfer baby to different rooms of a hospital or even outside during an emergency. The global infant incubator market accounted for $268 million in 2016 and is expected to reach $401 million by 2023 with a CAGR of 5.9% from 2017-2023.
Growth in premature infant deaths due to various causes such as neonatal hypothermia, breathing difficulties, and other diseases increase the demand of infant incubators as they provide controlled environment for infant survival. In addition, the rise in birth rate of preterm infants owing to unhealthy lifestyle habits such as smoking & drinking, growth in pregnancy problems is expected to boost the growth of the infant incubator market.
However, the high cost of infant incubators and the minimal availability of these infant incubators especially in the underdeveloped and few developing countries impede the market growth. Moreover, technological advancements in neonatal care devices is anticipated to provide lucrative growth opportunities to the market.
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The report segments the infant incubator market based on product, application, and end user. In terms of products, the market is segmented into transport infant incubator and neonatal intensive care unit (NICU) incubator.
On the basis of application, the market is classified into neonatal hypothermia, lower birth weight, genetic defects, and others. Based on end user, the market is categorized into pediatric hospitals, birthing centers, neonatal intensive care units, and others.
By geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest share in the infant incubator market in 2016, and is expected to maintain its dominance throughout the forecast period, owing to the presence of well-established neonatal care technology infrastructure in the region.
However, Asia-Pacific is expected to emerge as a lucrative area with maximum growth potential, owing to the rapidly developing healthcare infrastructure, rise in awareness regarding premature infant care, and high prevalence of preterm births.
The key players of the infant incubator market are majorly engaged in acquisition and expansion as their key strategies to bring innovation to neonatal care modalities. For instance, in March 2017, GE healthcare expanded its maternal-infant care business by the acquisition of Monica Healthcare, a monitoring technology company based in the UK.
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KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global infant incubator market and the current trends and future estimations to elucidate the imminent investment pockets.
- The report presents quantitative analysis of the market from 2016 to 2023 to enable stakeholders to capitalize on the prevailing market opportunities.
- Comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
- Extensive analysis of the market based on product assists to understand the trends in the industry.
- Key market players and their strategies are thoroughly analyzed to understand the competitive outlook of the industry.
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