The neonatal (preterm) infant care market has witnessed significant growth in recent years, driven by increasing preterm birth rates and advancements in medical technologies. The market caters to the specialized needs of premature infants, offering products and services that address challenges related to underdeveloped organs, respiratory distress, and low birth weight. From 2023 to 2028, this market is projected to experience robust growth, driven by rising demand for advanced neonatal care equipment and improved healthcare infrastructure globally.

Market Size and Share

According to Stratview Research, the global Neonatal (Preterm) Infant Care Market was estimated at USD 3.25 billion in 2022 and is likely to grow at a CAGR of 6.74% during 2023-2028 to reach USD 4.85 billion in 2028. In 2023, North America held the largest market share, due to the presence of advanced healthcare facilities, rising government initiatives, and high awareness regarding neonatal care.

In 2022, North America captured a substantial market share, with strong projected growth driven by increased healthcare spending, more product approvals, and rising infant mortality rates in the U.S.

Key Market Segments

Neonatal (Preterm) Infant Care Market, By Product (Thermoregulation Devices, Phototherapy Devices, Monitoring Systems, Neonatal Hearing Screening, Neonatal Infant Resuscitator Devices, Vision Screening, Others), By End-Use (Hospitals, Nursing Homes, Pediatric Neonatal Clinics), and Region.

Key Players and Competitive Landscape

Prominent players in the neonatal infant care market include GE Healthcare, Philips Healthcare, Medtronic, Drägerwerk AG, and Natus Medical Incorporated. These companies are investing in RD and launching new products to meet the growing demand for advanced neonatal care equipment.

Growth Drivers and Trends

Key drivers of market growth include:

• Increasing Preterm Birth Rates: Rising numbers of premature births globally is fueling demand for neonatal care products.
• Technological Advancements: Innovations in neonatal care, such as wireless monitoring and portable devices, are enhancing the quality of care provided to preterm infants.
• Government Initiatives: Supportive policies and funding in healthcare are boosting market growth, particularly in emerging economies.

With these trends, the neonatal (preterm) infant care market is poised for significant expansion, providing vital support for healthcare systems globally.