Infant Incubator Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Infant Incubator Market – Overview
The size of the infant incubator market has been estimated to grow at a significant speed in the forthcoming years. This rapid growth in the market is on the basis of the rising rate of premature infants birth around the world. Along with this, an increasing requirement to install NICU, as well as growing awareness among individuals related to neonatal care, have also been projected to serve as the vital factors to boost growth opportunities in the global market during the forecast period.
On the flip side, the comparatively high cost of these infant incubators is curtailing market growth. Furthermore, poor accessibility and lack of awareness about neonatal care in the emerging economies have also been estimated to restrict growth opportunities in the global market in the coming years. But, constant technological advancements in the devices for neonatal care are anticipated to create novel growth opportunities in the infant incubator market during the forecast period.
Infant Incubator Market – Key Drivers
The sudden emergence of the COVID-19 cases around the world has somehow suppressed the growth of the population which has resulted in the decline in births rates. Women either have changed their plans to bear a child or have delayed or canceled their appointments for contraceptive care or reproductive health. So, the rapid decline in childbirth rates has put a significant impact on the growth prospects in the infant incubator market during the pandemic.
Babies who are under the age of 1 are at higher risk to get severe illnesses with the coronavirus compared to older children. This factor has also been projected to put a noticeable impact on the expansion opportunities in the infant incubator market in the coming years.
The isolette incubators do not come with the ability to provide the same environmental protection as the application of air filtration or negative pressure can do. So, people are unlikely to purchase these novel incubators for babies as these devices do not play any significant role in order to protect them from the coronavirus. So, based on these factors, the market is likely to experience certain changes in the growth impetuses.
Infant Incubator Market – Recent Developments and Key Players
The infant incubator market is characterized by the presence of a lot of players that are functioning at local and international levels. Along with this, the presence of these players is also making the market fragmented by nature. The global players are concentrating to adopt new growth strategies in order to achieve their objectives. Further, the rising penetration of global players and growing consumer awareness related to the available brands have also been generating novel growth opportunities in the market. Product portfolio expansion, launching of new products, increased R & D activities to enhance company portfolio, and mergers or tie-up are also incorporated by these industry players in developing and developed countries across the globe.
Some of the key players in the infant incubator market are:
Infant Incubator Market – Regional Assessment
The infant incubator market has been divided into key four regions that includes Asia Pacific, Europe, North America, and LAMEA on the basis of regions. Out of these prominent global areas, Asia Pacific has been anticipated to register significant growth in the global market during the forecast period. This market growth is attributed to the rising spending on the healthcare facilities along with advancements in the neonatal care technology. Furthermore, the rising incidence of preterm birth and multiple birth rate has also been projected to contribute to the growth opportunities in the global market throughout the forecast period.
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