The neonatal thermoregulation devices market comprises infant warmers, neonatal incubators and transport incubators. Infant warmers are mobile and safe radiant warmers used for stabilizing the temperature of newborn infants. Neonatal incubators provide an enclosed and controlled environment for preterm or low birth weight newborns to regulate temperature, humidity, oxygen concentration and offer medical observations. Transport incubators are portable and allow for safe transfer of premature infants between wards or hospitals. These devices prevent fatal heat loss in vulnerable newborns by maintaining optimal temperature and humidity levels. They find widespread adoption in neonatal intensive care units (NICUs), postnatal wards, pediatric departments and more.

The Global neonatal thermoregulation devices market is estimated to be valued at US$ 47.27 Mn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in The Neonatal Thermoregulation Devices are Sysmex Corporation (Japan), Danaher Corporation (US), Nihon Kohden (Japan), Siemens (Germany), Abbott (US), Boule Diagnostics (Sweden), HORIBA (Japan), Bio-Rad Laboratories (US), BioSystems (Spain), Diatron (Hungary), Drew Scientific (US), EKF Diagnostics (UK), Mindray (China), Ortho Clinical Diagnostics (US), and Roche (Switzerland), among others. The key players are focusing on new product launches and geographical expansions to gain market share.

The growing demand can be attributed to the rising prevalence of preterm births worldwide which has increased the need for neonatal thermoregulation devices significantly. Furthermore, technological advancements like servo-controlled heated beds, automated oxygen control, pulse oximeters and other medical devices integrated with incubators provide improved neonatal care and fuel the market growth.

The manufacturers are focused on tapping opportunities in developing regions like Asia Pacific, Latin America, and Middle East & Africa owing to increasing healthcare investments, infrastructure development and growing medical tourism in these areas.

Market drivers
The primary growth driver for this market is the rising incidences of preterm births globally. According to the World Health Organization (WHO), an estimated 15 million babies are born preterm every year. Preterm birth complications are the leading cause of death among children under 5 years of age. Moreover, low and middle-income countries accounted for over 60% of preterm births in 2019. This has increased the demand for neonatal incubators, warmers and transport incubators across hospitals and NICUs for proper care of preterm infants. The growing awareness about therapeutic hypothermia among clinicians has also augmented the requirement for these devices to regulate neonatal temperature.

Geopolitical Situation Impacting Neonatal Thermoregulation Devices Market Growth

The current geopolitical tensions and conflicts are impacting the neonatal thermoregulation devices market growth. The ongoing Russia-Ukraine war has disrupted the supplies of key components and raw materials for several medical device manufacturers. There is a shortage of semiconductors and rare earth metals that are essential for manufacturing temperature probes, warmers, and incubators. This has negatively affected the production output of leading players in Europe and US markets. Additionally, export restrictions imposed by the US and EU on Russia are adding to the supply challenges. Manufacturers will need to diversify their sourcing strategies, find new reliable suppliers, and increase inventory levels of critical materials to minimize disruptions. They also require to explore developing low-cost alternatives and adopt advanced technologies to optimize resource utilization for sustained market expansion in the forecast period.

Geographical Regions with High Market Concentration

The neonatal thermoregulation devices market in terms of value is currently concentrated highly in North America and Europe. This is owing to the advanced healthcare infrastructure and rising focus on neonate care in countries like the US, Germany, UK, and France. According to estimates, over 60% of the global market revenue in 2024 will be accounted for by sales of devices across hospitals and NICUs in these developed regions. North America alone contributes nearly 40% market share led by a strong base of key industry players and growing demand for innovative incubators for preterm babies. Other major country-level markets include Japan and China attributed to improving medical technologies and increasing accessibility.

Fastest Growing Regional Market

The Asia Pacific region excluding Japan and China is expected to witness the fastest growth in the neonatal thermoregulation devices market during 2024-2031. This is because of rapidly developing economic conditions, rising healthcare investments, growing birth rates, and expanding patient bases in countries such as India and Indonesia. Additionally, several local and international companies are focusing on expanding their presence and product portfolios catering to the requirements of neonatal intensive care units in the region. Support from government initiatives and regulatory bodies to improve neonatal outcomes will further aid the market prospects. The annual growth rate in APAC is projected to be over 9% over the forecast period making it the most lucrative geographical market.

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