Published Date : 31 Aug 2023
The global infant incubator size was evaluated at USD 331.79 million in 2022 and is expected to attain around USD 522.43 million by 2032, growing at a CAGR of 4.64% from 2023 to 2032.
The market for infant incubators is expanding as the number of premature babies born significantly increases. Furthermore, the market is expanding as a result of increased NICU unit demand and public awareness of neonatal care. Technical advancements in neonatal care devices, on the other hand, are expected to present lucrative opportunities for market growth throughout the forecast period.
An increase in chronic diseases
Multiple pregnancies, as well as the prevalence of high blood pressure, diabetes, and infectious and chronic illnesses, are expected to contribute to the global market's positive growth over the forecast period. Women who had previous pregnancies are more likely to develop gestational diabetes during pregnancy which leads to premature birth. This further leads to an increase in the demand for incubators. According to the National Center for Chronic Disease Prevention and Health Promotion, smoking during pregnancy is responsible for 5% to 8% of preterm births in the United States, as well as 5% to 7% of preterm-related deaths. Furthermore, one out of every five infants born to pregnant women who smoke has a lower birth weight.
The high cost of the incubator prevents the market from expanding. Furthermore, the market availability of alternatives, such as newborn warmers, as well as the lack of these devices in developing countries, are both factors contributing to the industry's slowing growth.
Low oxygen concentration in the incubator
The decrease in oxygen concentration is due to improper closing of the access door or iris port, the air inlet filter not being installed, or the main deck not being seated properly. To overcome these issues, fix the door or filter properly.
Infant Incubator Market Report Scope:
|Market Revenue in 2023||USD 347.2 Million|
|Projected Forecast Revenue in 2032||USD 522.43 Million|
|Growth Rate from 2023 to 2032||CAGR of 4.64%|
|Largest Market||North America|
|Forecast Period||2023 to 2032|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa|
Based on the product, the intensive care segment dominates the infant incubator market. Climate control and defense against allergens, pathogens, loud noises, and dangerous light levels are among the features of an intensive care incubator.
On the other hand, transportation incubators are expected to grow at the fastest pace. Infant incubators are intended to provide a safe and stable environment for these infants during transportation, as well as to monitor their vital signs and provide life support as needed. Neonatal transport incubators offer medical care as well as transportation for premature or sick newborns.
Preterm births, which cause decreases in body temperature, are becoming more common, driving the growth of the infant incubator market. Newborns struggling from cold stress as well as hypothermia require a thermostable surrounding to maintain their body temperatures. The World Health Organization states that hypothermia is a key reason for infant illness and mortality.
Moreover, the genetic defects segment is booming at a steady growth rate during the forecast period. The rising incidence of genetic disorders such as obesity and diabetes is an essential factor fueling global demand for genetic defect treatments. A single gene can cause birth defects, such as heart defects, in babies. In the forecast period of 2023 to 2032, the rising focus of major companies on the incorporation and installation of modern and advanced technologies offers profitable opportunities for key players. Furthermore, the expanding number of diagnostic centers and hospitals, and technological advancements in infant and maternal care products, will accelerate the growth rate of the genetic defects segment in the future. Furthermore, according to a 2018 report issued by Stanford Children's Health, sickle cell anemia affects nearly one out of every 365 black African births. As a result of the significant occurrence of genetic diseases between infants, there is an increase in demand for prenatal as well as newborn genetic tests, which contributes to market growth.
Hospitals had the largest market share in 2022. Growth has been driven by the rising prevalence of chronic and infectious diseases. 60% of adult Americans have at least one chronic disease, according to the National Association of Chronic Disease Directors.
The pediatric and neonatal intensive care unit, on the other hand, is the largest, accounting for the market share. A NICU incubator provides the environmental conditions that premature babies and sick newborns require to heal and thrive.
North America is anticipated to dominate the global infant incubator market. The use of incubators is necessary for nations with dense populations due to the rise in preterm birth rates. Technological advances in the neonatal care sector, including the development of cutting-edge incubators, aided market growth.
The Asia Pacific region is anticipated to grow at the fastest CAGR with a market share. According to a research study, in the South Asia infant incubators industry, India is expected to grow at a CAGR of approximately 5.6% during the projected period. Over the last decade, the country's medical device and healthcare sector have grown significantly. In India, there is currently a large supply-demand gap for medical devices, which offers a significant opportunity for device manufacturers working in the country. The India Brand Equity Foundation estimates that the Indian medical device market is worth USD 12 billion in May 2022. Small and medium-sized businesses coexist with large multinational corporations in India, which further propels the market
Major Key Players:
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