Allied Market Research published a report, titled, “Infant Incubator Market by Product (Hybrid Incubator, Normal Incubator, and Transport Incubator), Application (Neonatal Hypothermia & Low Birth Weight, Jaundice, and Others), and End User (Hospitals, Maternity Hospitals, and Neonatal & Pediatric Hospitals): Global Opportunity Analysis and Industry Forecast, 2021–2030″. According to the report, the global infant incubator industry generated $131.7 Million in 2020, and is anticipated to generate $249.05 Million by 2030, witnessing a CAGR of 6.5% from 2021 to 2030.
Prime determinants of growth
Increase in birth rate of premature infants, rise in installations of NICU units, and surge in awareness regarding neonatal care drive the growth of the global infant incubator market. However, high cost of infant incubators and poor accessibility toward neonatal care in developing regions hinder the market growth. On the other hand, technological advancements in neonatal care devices present new opportunities in the coming years.
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- The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global infant incubator market, as hospitals around the world were completely focused on the COVID-19 situation.
- However, the market is anticipated to witness recovery and show stable growth soon.
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The Neonatal Hypothermia and Low Birth Weight segment to maintain its leadership status
Based on application, the Neonatal Hypothermia and Low Birth Weight segment held the highest market share in 2020, accounting for nearly two-thirds of the global infant incubator market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 7.1% from 2021 to 2030, owing to increase in prevalence of neonatal hypothermia, as preterm and low birth weight neonates specifically are more susceptible to hypothermia.
The Neonatal and Pediatric Hospitals segment to maintain its lead position during the forecast period
Based on end user, the Neonatal and Pediatric Hospitals segment accounted for the largest share in 2020, contributing to more than half of the global infant incubator market, and is projected to maintain its lead position during the forecast period. This is 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. However, the hospitals segment is expected to portray the largest CAGR of 8.6% from 2021 to 2030, owing to increase in adoption of infant incubator in hospital.
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North America to maintain its dominance by 2030
Based on region, North America held the highest market share in terms of revenue 2020, accounting for nearly half of the global infant incubator market, owing to presence of well-established NICUs and neonatal care in the region. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 8.34% during the forecast period, owing to rise in inclination toward adoption of advanced infant incubators for monitoring and diagnosis of neonates.
Leading Market Players
- 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
- Meter Co. Ltd.
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