Fetal Monitoring Market Analysis by Product (Fetal Monitoring Devices, and Neonatal Monitoring Devices); End User (Hospitals, Neonatal Care Centers) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
Buy Now Report ID: 4864 | Published Date: Apr 30, 2023
Fetal Monitoring Market is estimated to garner a revenue of ~USD 15.81 billion by the end of 2035 by growing at a CAGR of ~10.20% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 4.93 billion in the year 2023. The market growth is mainly owing to the increasing awareness about maternal and fetal health, rising maternal age, and the growing prevalence of preterm births. According to the World Health Organization (WHO), an estimated 15 million babies are born preterm each year, accounting for around 1 in 10 of all births worldwide. Preterm birth is defined as delivery before 37 completed weeks of gestation. Fetal monitoring includes both external and internal monitoring devices. External monitoring devices are placed on the mother's abdomen and include ultrasound devices and tocodynamometers, which measure the frequency and intensity of uterine contractions.
In addition to this, internal monitoring devices are placed inside the uterus and include fetal scalp electrodes and intrauterine pressure catheters, which measure the fetal heart rate and the strength of uterine contractions. The rates of preterm birth vary widely across countries and regions. In high-income countries, such as the United States, the preterm birth rate is around 10%, while in low-income countries, the rate can be as high as 18%. Preterm birth is a significant public health concern, as it is a leading cause of death and long-term disability among newborns. Preterm babies are at higher risk of respiratory distress syndrome, jaundice, infections, and other complications. They may also experience long-term developmental delays and disabilities, including cerebral palsy, intellectual disabilities, and vision and hearing problems.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~10.20% |
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Base Year Market Size (2023) |
~ USD 4.93 Billion |
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Forecast Year Market Size (2035) |
~ USD 15.81 Billion |
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Regional Scope |
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Growth Drivers
Challenges
The global fetal monitoring market is segmented and analyzed for demand and supply by application into hospitals, neonatal care centers, and others. Out of the three types of end users, the hospitals segment is estimated to gain the largest market share of about ~35% in the year 2035. The growth of the segment can be accredited to the large number of patients requiring treatment for maternal conditions. The hospitals are also growing rapidly in number, which is estimated to positively influence segmental growth. For instance, by the year 2022, there were noted to be approximately 6,100 hospitals in the United States. Hospitals provide a wide range of medical care. Physicians, called hospital doctors, typically specialize in internal medicine, pediatrics, or general practice. They have the knowledge to solve common problems and the resources to solve more complex medical problems. Hospitals may also offer specialized care, such as neurology, obstetrics and gynecology, and oncology. By definition of a hospital, a county hospital is typically a primary medical facility in a region with numerous intensive care and mobile beds for patients requiring long-term care.
The global fetal monitoring market is also segmented and analyzed for demand and supply by product into fetal monitoring devices, and neonatal monitoring devices. Amongst these two segments, the neonatal monitoring devices segment is expected to garner a significant share of around ~60% in the year 2035. The growth of the segment can be accredited to the increasing prevalence of neonatal disorders. The prevalence of neonatal disorders such as respiratory distress syndrome, hypothermia, and jaundice is increasing globally, which is driving the demand for neonatal monitoring devices. Advances in neonatal monitoring technology, such as wireless and portable monitors, are driving market growth. For instance, the Masimo Rad-97 Pulse CO-Oximeter is a wireless and portable monitor that can provide non-invasive measurements of various neonatal vital signs. There is increasing awareness among healthcare professionals and parents about the importance of monitoring neonatal health. This is leading to an increase in demand for neonatal monitoring devices.
Our in-depth analysis of the global fetal monitoring industry includes the following segments:
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By End User |
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By Product |
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The fetal monitoring in the Asia Pacific region, amongst the market in all the other regions, is projected to hold the largest market share of about ~35% by the end of 2035. The regional growth can majorly be attributed to the rising prevalence of preterm births. The Asia Pacific region has a high incidence of preterm births, which is driving the demand for fetal monitoring devices. According to the World Health Organization (WHO), the preterm birth rate in the Asia Pacific region ranges from 6.2% to 18.3%. There is a growing awareness about the importance of maternal and fetal health in the Asia Pacific region. Governments, healthcare organizations, and NGOs are taking initiatives to improve maternal and fetal health outcomes, which is driving the demand for fetal monitoring devices. The Asia Pacific region is experiencing rapid technological advancements in the healthcare sector, which is driving the market growth. For instance, Philips Healthcare has developed a fetal monitoring system called Avalon CL, which is designed to improve the accuracy and reliability of fetal monitoring. There is a growing demand for non-invasive fetal monitoring methods in the Asia Pacific region. This is driven by factors such as patient comfort, safety, and convenience.
The fetal monitoring in the North American region, amongst the market in all the other regions, is projected to hold the second largest share of about ~24% during the forecast period. The growth of the market in this region can primarily be attributed to the growing demand for non-invasive monitoring methods. There is a growing demand for non-invasive fetal monitoring methods in the North America region. This is driven by factors such as patient comfort, safety, and convenience. For instance, the use of wireless fetal monitoring devices is increasing in the region owing to their non-invasive nature and ease of use. The North American region has several government initiatives aimed at improving maternal and fetal health outcomes. For instance, the US Department of Health and Human Services has launched the Healthy People 2020 initiative, which includes goals related to improving maternal and fetal health outcomes. The North American region is at the forefront of technological advancements in the healthcare sector, which is driving the regional market growth.
Further, fetal monitoring in the Europe region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to government initiatives. The Europe region has several government initiatives aimed at improving maternal and fetal health outcomes. For instance, the European Commission has launched the European Perinatal Health Report, which provides information on perinatal health indicators and highlights areas where improvements are needed. There is a growing demand for non-invasive fetal monitoring methods in the Europe region. This is driven by factors such as patient comfort, safety, and convenience. The Europe region is experiencing rapid technological advancements in the healthcare sector, which is driving the market growth. The Europe region has a high incidence of preterm births, which is driving the demand for fetal monitoring devices. According to a report, the preterm birth rate in Europe ranges from 5.2% to 11.4%.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: Increasing awareness about maternal and fetal health, rising maternal age are the major factors driving the market growth.
Ans: The market size of fetal monitoring is anticipated to attain a CAGR of ~10.20% over the forecast period, i.e., 2023 – 2035.
Ans: Competition from alternative technologies is estimated to be the growth hindering factor for the market expansion.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are ArjoHuntleigh AB, Bionet Co., Ltd., Neoventa Medical AB, Analogic Corporation, Natus Medical Incorporated, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product, end-user, and by region.
Ans: The hospital segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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