January 16, 2019 – The global infant incubator market is anticipated to expand at substantial CAGR of 9.2% by 2022, suggests a report added to the repository of Radiant Insights, Inc. Growing incidence of preterm births is anticipated to propel global market over the forecast period (2017 to 2022). This biomedical device offers intensive medical attention to newborn babies by providing warmth, humidity, and oxygen in a controlled environment. It can improve infant survival rate by retaining thermal stability within incubator and providing infection-free environment to infants. In addition, this device can protect infants from outside dust, noise, and infections. All these factors are expected to play a vital role in driving demand in the years to come.
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Rising number of Neonatal Intensive Care Unit (NICU) admissions is expected to positively influence growth of the market for infant incubators. Continual technological advancements to provide advanced medical care to premature infants can augment demand. Increasing birth rate of premature infants with lower birth weights and other problems can surge demand over the next few years. Favorable initiatives from governments and private organizations to improve healthcare facilities and to spread awareness regarding benefits of NICUs can further fuel market growth during the forecast period.
To cater to rising demand for infant incubators, companies focus on R&D activities to develop advanced products. For instance, NeoLight recently received clearance for its new product Skylife from the United States Food and Drug Administration (FDA). The device can deliver narrow band of high-intensity blue light via blue Light Emitting Diodes (LEDs) to provide treatment for neonatal unconjugated hyperbilirubinemia (jaundice). It is designed to be used within most neonatal enclosures including incubators, bassinets, and radiant warmers. This lightweight device features ergonomic and flexible design that allows clinicians to comfortably shift the unit between enclosures.
The worldwide infant incubator market can be segregated on the basis of application and region. Based on application, the market can be categorized into hospitals and birthing centers. The hospitals segment is expected to dominate the market over next few years. High adoption owing to complications during birth and premature birth rate is anticipated to propel demand over the forecast period.
Regional segmentation includes Europe, North America, Asia Pacific, South America, and Middle East and Africa. Asia Pacific is expected to witness significant growth in the forthcoming years attributed to rising adoption. In addition, growing incidences of premature babies in India, China, and other developing economies can impel regional market growth. Moreover, increasing investments to develop healthcare information technology solutions by leading market players can positively influence market for infant incubators.
North America is anticipated to lead global market on account of the presence of advanced medical care. It is expected to hold a high market share during the forecast period. Rising number of premature born babies and well-developed healthcare infrastructure can stimulate regional growth. United States (U.S.) is expected to hold the largest market share in North America over the forecast period.
Europe is anticipated to grow well over the forecast period attributed to rising number of premature child births. Germany is likely to hold the largest market share followed by France during the forecast period. Europe; being a developed region, can offer advanced healthcare infrastructure to its residents. This, in turn, is anticipated to bode well for regional market during the forecast period.
Some of the leading companies in the global infant incubator market are GE Healthcare, TSE Medical, AVI Healthcare Private Limited, Atom Medical Corporation, and Drager.
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